ChatGPT and file formats in Finance & Accounting
- Graziano Stefanelli
- Sep 4, 2024
- 2 min read
ChatGPT can work with a variety of file formats that are common in Finance and Accounting.
Let's have a look at the formats, along with examples of how they might be used in these contexts...
Document Formats:
.txt – Plain text files; Example: A simple text file containing budget notes or a financial transaction log.
.doc/.docx – Microsoft Word files; Example: A financial report or an accounting policy document written in Word.
.pdf – Portable Document Format; Example: A bank statement or an annual financial report provided in a non-editable format.
Spreadsheet Formats:
.xls/.xlsx – Microsoft Excel files; Example: A balance sheet, income statement, or a financial model with complex formulas.
.csv – Comma-separated values; Example: Exported transaction data from an accounting software or a list of invoices.
.ods – OpenDocument Spreadsheet format; Example: A spreadsheet used for internal financial analysis or reporting by organizations using open-source software.
Data Formats:
.json – JavaScript Object Notation; Example: Data pulled from an API showing stock prices, currency rates, or financial metrics in a structured format.
.xml – Extensible Markup Language; Example: Financial filings in XBRL format (eXtensible Business Reporting Language) used by companies for regulatory reporting.
.sql – Structured Query Language; Example: A database of historical financial transactions stored in a format that can be queried for analysis.
.db/.sqlite – SQLite database files; Example: A local database containing client financial data or transactions from a point-of-sale system.
.tsv – Tab-separated values; Example: A dataset with financial figures where each column is separated by tabs, such as a list of expenses by department.
.yml/.yaml – YAML Ain’t Markup Language; Example: Configuration files used to set up financial models in software or to define parameters for an accounting application.
Presentation Formats:
.ppt/.pptx – Microsoft PowerPoint; Example: A presentation outlining the financial performance of a company, including slides with charts and key financial metrics.
Other Formats:
.zip – Compressed file archives; Example: A compressed folder containing multiple financial reports, spreadsheets, or datasets used in a financial audit.
Each of these file formats has specific use cases in Finance and Accounting, from financial modeling and data storage to regulatory reporting and presentations.
