Building the next generation of ledgers for accountants and bookkeepers.
At Prosaic, we believe compliance should be simpler, faster, and more affordable — for both accounting firms and their clients.
We’re building an AI-native general ledger designed specifically for accountants and bookkeepers managing high volumes of simpler compliance work — rentals, sole traders, simple companies and trusts. Connected banks, AI bulk coding, GST filing, annual reports.
For many businesses, accounting software has become increasingly complex and expensive, despite most clients simply wanting trusted professionals to handle their compliance efficiently. We think there’s a better way — one that doesn’t require clients to pay for layers of features they don’t need.
So we’ve designed the ledger to be ready for modern AI from day one: structured data, standard charts, multi-entity by default, and an open API and MCP server that enable deep integration with AI agents and customisation by firms.
Today, more than 50 accounting firms manage over a thousand clients in Prosaic. Our platform is designed around the reality of modern practice: managing many clients efficiently, with AI working alongside professionals — not replacing them.
Why we’re building Prosaic
Every generation of software reshapes the way people work.
We experienced this first-hand as early employees at Vend during the shift from desktop software to the cloud. Since then, we’ve helped build and scale companies including Xero and Slack, always focused on improving the way small businesses operate through technology.
We believe accounting is now entering its next major platform shift: AI and open banking.
AI is making it possible to automate workflows that previously required hours of manual work, while open banking is creating secure, real-time access to financial data that dramatically improves how compliance can be delivered. Together, these technologies create an opportunity to completely rethink the accounting experience — for firms and clients alike.
But we also believe technology alone isn’t enough.
The future isn’t about replacing accountants and bookkeepers. It’s about giving them better tools — tools that amplify expertise, reduce manual effort, and make high-quality financial services accessible to more people at a fair price.
Source: Benedict Evans
What AI-native actually means
It’s a design constraint. The ledger has to be as usable by AI as by a person. That means structured, standardised data, and open APIs by default.
Built for a person clicking through screens
Integrations wait on the vendor to build a connector
Automation means fixed rules inside the product’s own UI
Built for people and agents to read, write and reason over the same structured data
Integrations can be orchestrated through an open API and MCP server
An agent chains multi-step work directly against live data
How it started
Prosaic started after a simple conversation between co-founders Nick and Rowan and their accountant, in early 2023, about how much data was still being manually processed despite years of cloud accounting.
At the same time, ChatGPT had just launched. They started experimenting with using AI to organise and interpret bank transaction data, and immediately saw the potential — hours of repetitive work done in minutes, paired with expert review.
They began with a simple expense add-on to existing accounting software. But as they onboarded early adopter firms, and spoke to hundreds more about their frustration with price, features and the slow pace of AI automation, they realised that solving this properly meant building a new ledger from the ground up.
So they went back to the drawing board and designed Prosaic - with accountants, for accountants. A modern ledger, with the simplicity of tools they used to love (like BankLink) but built for how the work will be done in future with AI.
Team
What we believe
Software should get more affordable, not less
AI should be driving the cost of software down. For twenty years it’s gone the other way. Firms should be able to price a simple job simply, without absorbing the cost of features their clients will never open.
Built for firms, not just for businesses
Most accounting software is built for a business and then sold to firms to administer on their behalf. We started from the other end: many clients, one workspace, work done at the portfolio level rather than one entity at a time.
AI belongs under professional review
AI is remarkable at the repetitive middle of accounting work and unqualified to sign off on any of it. Everything in Prosaic is built to be checked — clear audit trails, fast review, and a professional accountable for the result.
Open by default
We built Prosaic with the full ledger available over API and MCP. Firms shouldn’t have to wait for a vendor to build the integration they need, and the ledger shouldn’t be the part of the stack that can’t move.
Most clients want simplicity
Most small businesses and individuals don’t want to become accountants. They want confidence that their compliance is handled properly, with clear communication from someone they trust.
We’re custodians, not owners
Financial data is sensitive and it isn’t ours. Firms and their clients stay in control of their information, and we treat being trusted with it as the obligation it is.
Backed by people who’ve done it before
We’re supported by strategic investors, who’ve founded, run or invested early in iconic accounting and technology businesses from New Zealand, Australia and around the world, including Xero, MYOB, BankLink, iFirm, Trade Me, Vend, Dext and more.
New Zealand · est. 2023