Question 1

What is the best AI accounting software for Australian accountants?

Accepted Answer

Fedix is the leading AI-powered accounting platform built specifically for Australian tax accountants. It combines AI bank reconciliation (90% auto-categorisation), automated working papers, direct ATO integration, and full practice management in one platform. Starting at AUD $19/ledger/month with a free 1-month trial.

Question 2

How does Fedix AI reconciliation work?

Accepted Answer

Fedix MyLedger uses AI to automatically categorise bank transactions with 90% accuracy, processing 200 transactions per minute. It learns from your coding patterns and continuously improves. You can upload PDF bank statements, CSV/Excel files, scanned documents, or screenshots from any Australian bank. The AI provides confidence scores for each categorisation, and you can batch-approve suggestions with one click.

Question 3

What are AI Working Papers in Fedix?

Accepted Answer

Fedix automatically generates working papers including Division 7A loan calculations, inter-entity interest calculations, dividend journals, director fee entries, depreciation schedules, amortisation calculations, BAS and GST reconciliation checks, and taxable income reconciliation (accounting profit to taxable income). This eliminates hours of manual spreadsheet work.

Question 4

Can Fedix handle BAS and GST automatically?

Accepted Answer

Yes. Fedix Auto GST automatically calculates GST from ledger data, classifies GST codes (GST-free, input-taxed, taxable supplies), and reconciles your ledger against lodged BAS data via direct ATO integration. It also handles income tax payment reconciliation, PAYG reconciliation, and tracks General Interest Charges and Failure to Lodge penalties. This reduces GST processing time by 90%.

Question 5

Does Fedix offer KYC/AML compliance for accountants?

Accepted Answer

Yes. Fedix provides AUSTRAC Tranche 2 compliant KYC/AML checks including AI-powered risk assessment, DFAT sanctions screening, PEP (Politically Exposed Persons) detection, automated document verification, and 7-year record retention. Pricing is $5 per verification with no monthly fees, first 10 free, and volume discounts down to $2.50 per check for 1000+ verifications.

Question 6

What is ATO Benchmark Analysis in Fedix?

Accepted Answer

Fedix ATO Benchmark Analysis uses AI to classify client accounts and compare financials against 100+ ANZSIC industry benchmarks using official ATO data. It provides risk scoring with directional analysis, multi-year trend comparison, and one-click PDF export for client advisory. It identifies ratios outside ATO benchmark ranges before lodgement, helping reduce audit risk.

Question 7

How does Fedix compare to Xero for accountants?

Accepted Answer

Fedix works alongside Xero as the AI intelligence layer for accountants. While Xero is designed for business owners to self-manage accounting, Fedix is built for accountants managing client books. Fedix offers 90% AI auto-categorisation (vs manual bank rules), automated working papers, deeper ATO integration with GST reconciliation against lodged data, and ATO benchmark analysis — features Xero does not have.

Question 8

How does Fedix compare to MYOB?

Accepted Answer

Fedix is a modern cloud-first platform with AI built into every feature, while MYOB is a legacy system with no built-in AI reconciliation. Fedix offers superior ATO integration, AI-powered working papers, KYC/AML compliance, and an all-in-one solution (bookkeeping + practice management + client portal) versus MYOB which requires separate products for similar functionality.

Question 9

Can I switch from Xero or MYOB to Fedix?

Accepted Answer

Yes. Fedix supports data import from Xero, MYOB, HandiLedger, and Reckon via file upload. You can also import prior year financial statements from PDF or screenshots — the AI creates opening balances and posts opening journal entries automatically. Many practices use Fedix alongside Xero, leveraging Xero bank feeds with Fedix AI reconciliation for the best of both.

Question 10

Does Fedix integrate with the ATO?

Accepted Answer

Yes. Fedix has direct integration with the Australian Taxation Office for retrieving client accounts, lodgement history, BAS/IAS/ITR data, due dates, and automatic GST reconciliation against lodged BAS data. You can add new clients to the ATO in 2 minutes. It also includes ATO Benchmark Analysis across 100+ ANZSIC industries and proactive alerts for compliance deadlines.

Question 11

Is Fedix data stored in Australia?

Accepted Answer

Yes. All Fedix data is stored exclusively in Australian data centres with AES-256 encryption at rest, TLS 1.3 in transit, multi-factor authentication, and ISO 27001 aligned practices. Data never leaves Australia. Fedix complies with the Australian Privacy Act 1988 and ATO Digital Service Provider requirements, with 12-month audit trail retention.

Question 12

What security features does Fedix have?

Accepted Answer

Fedix provides bank-level security including AES-256 encryption, TLS 1.3, Multi-Factor Authentication (TOTP), Single Sign-On via Microsoft Azure AD, role-based access control with granular permissions, practice-level data isolation, comprehensive audit logging with timestamps and IP addresses, virus scanning on all uploads, and automated backups with disaster recovery.

Question 13

How much does Fedix cost?

Accepted Answer

Fedix offers two plans: the Ad-hoc Plan at AUD $19 per ledger/month (pay only for active clients, pause anytime) and the Practice Plan at AUD $199 per practice/month (up to 500 clients, 3 users, $199 AI credit included). Both plans include a free 1-month trial with no credit card required, no lock-in contracts, and cancel or pause anytime.

Question 14

Is there a free trial for Fedix?

Accepted Answer

Yes. Fedix offers a free 1-month trial on both plans with no credit card required. You get full access to all features including AI reconciliation, automated working papers, ATO integration, and practice management. There are no lock-in contracts — you can cancel or pause your subscription at any time.

Question 15

Does Fedix include practice management features?

Accepted Answer

Yes. Fedix includes a full practice management suite: client database with profiles, Kanban task management, recurring task automation, team assignment, invoicing with Stripe integration, direct debit collection, email integration (Microsoft 365 and Gmail), document management with e-signatures, calendar scheduling, AI meeting transcription, and a white-label client portal for secure document sharing and real-time chat.

Question 16

Does Fedix have a client portal?

Accepted Answer

Yes. MyLedger Client Portal gives your clients a branded dashboard to view financial metrics, upload documents securely, track transactions, access payroll information, view reports, and chat with their accountant in real-time. It supports magic link authentication for easy access, MFA security, and is fully responsive on mobile and tablet. The portal is white-labelled to match your practice branding.

Question 17

What integrations does Fedix support?

Accepted Answer

Fedix integrates with Xero (two-way sync and bank feeds), Xero Practice Manager, Australian Taxation Office (direct), Microsoft 365 (email, calendar, SharePoint, Teams), Google Workspace, Stripe (payments and billing), SharePoint and Dropbox (document storage). It also imports data from PDF bank statements, CSV/Excel, MYOB, HandiLedger, and Reckon. Upcoming integrations include LodgiT, MYOB full sync, and QuickBooks.

Question 18

Can Fedix process bank statements from any Australian bank?

Accepted Answer

Yes. Fedix accepts PDF bank statements, CSV/Excel exports, scanned copies, and even screenshots from any Australian bank. The AI-powered SmartDoc feature uses OCR to extract transaction data from receipts and documents, automatically matching them to ledger entries. This means you can onboard clients regardless of their record-keeping quality.

Question 19

Who is Fedix designed for?

Accepted Answer

Fedix is built for Australian tax accountants, bookkeepers, and BAS agents — particularly small to medium practices (1-50 staff) looking for AI-powered automation. It is ideal for practices managing multiple clients, firms with clients who have incomplete records, practices wanting to automate BAS/GST compliance, and anyone looking for an Australian-made alternative to Xero or MYOB with built-in AI.

Insights & Research

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