Tofu is an AI bookkeeping platform that automates invoice, receipt, and bank statement processing for Xero and QuickBooks users. It learns a business's suppliers, accounts, and tax codes to code transactions automatically, cutting bookkeeping time by 75%. Trusted by 5,000+ companies across 50 countries, Tofu has processed over 1.33 million documents worth $5.70 billion.
Funding
Funding not disclosed
Founders
Product
Problem
Manual bookkeeping requires repetitive data entry for invoices, receipts, and bank statements, consuming significant time and resources for accounting firms and businesses. Traditional automation tools fail to learn a company's specific coding preferences, forcing bookkeepers to manually review and correct every transaction.
Solution
Tofu provides an AI-powered bookkeeping assistant that learns how each business codes its transactions over time. Users simply send invoices, receipts, and bank statements to the platform, and Tofu automatically codes every line item according to the business's established patterns for suppliers, accounts, and tax codes. The system integrates directly with Xero and QuickBooks, allowing seamless synchronization of coded transactions into the user's accounting software. By continuously learning from user corrections and historical data, Tofu improves accuracy with each use, reducing manual review time and enabling bookkeepers to process transactions in seconds rather than minutes.
Target Audience
Primary customers are bookkeepers, accounting firms, and finance teams at small to mid-sized businesses that use Xero or QuickBooks and need to streamline their transaction processing workflows.
Features
- AI-driven transaction coding that learns supplier, account, and tax code preferences from historical data
- Automated document processing for invoices, receipts, and bank statements via upload or scan
- Native integration with Xero and QuickBooks, including support for Xero Ledger subscriptions
- Multi-country compliance support, including region-specific requirements such as Philippine BIR regulations
- Cloud-based platform accessible from any device with no installation required
- Continuous learning engine that improves coding accuracy with each user correction