OCTIS vs ChatGPT vs AI bookkeeping software vs an accountant in Hong Kong

Who keeps the records, who prepares the profits tax return and who signs the audit, side by side.

Last checked 11 November 2026 · 8 sources

Otty's short answer

ChatGPT can explain and draft, but it keeps no ledger, cannot audit and does not file your profits tax return. AI bookkeeping software does the repetitive entry. A Hong Kong company still needs audited accounts from a CPA practice for its profits tax return, so a licensed person reviews and signs.

Side by side

Swipe to see every column

What matters	OCTISHong Kong company + OCTIS global plan	ChatGPT (general AI chatbot)	Accounting software with AI features	Bookkeeper or accounting firm
Who is accountable and signs	OCTIS accountants review and sign. AI does the entry and matching	No one. OpenAI's terms say output is not guaranteed to be correct and is no substitute for professional advice	You, as director. The software does not sign	A named accountant, with professional responsibility
Audited accounts by a CPA	Independent Hong Kong CPA practice audits, coordinated by OCTIS	No. A chatbot cannot audit	No. You still appoint a CPA practice	Yes, from a CPA practice, often the same firm
Profits tax return (IRD)	Profits tax return prepared by OCTIS accountants	Can explain the form. Does not prepare or file it for you	May give figures for the tax computation. Filing stays with you or your accountant	Prepared with audited financial statements and a tax computation
Reads bank statements and receipts	AI agents capture statements and receipts, accountants check them	Can read what you paste or upload, one batch at a time. No live bank feed	Bank feeds and receipt capture built in	Done by staff, often with software
Reconciliation accuracy	AI matches, licensed accountants review every exception	Can miss or invent lines, and has no ledger to check against	Good on routine matches. Exceptions need a human review	Reviewed by a person who knows your business
Data privacy (PDPO)	Hong Kong company on the OCTIS global plan, handled by OCTIS accountants under confidentiality	Your data goes to OpenAI. Personal plans can switch off training, and Temporary Chats are deleted after 30 days	Depends on the vendor's terms and where data is stored	Held under the firm's confidentiality duties and your engagement terms
Records kept for 7 years	Records organised for the 7-year rule and the auditor, coordinated by OCTIS	No record keeping of its own. Chats are not a ledger	Stores entries and documents while you subscribe	Books and supporting documents organised for the 7-year rule
Cost basis	10–30% below your current bill, or a written quote	Chatbot subscription. Your time does the bookkeeping	Software subscription. Review, tax and audit are extra	Monthly fee by scope and transaction volume
Speed	AI handles daily entry, accountants close the month	Instant answers, manual work on every batch	Fast for daily entry and matching	Monthly or quarterly cycle

Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 11 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.

Which one fits you

OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you want AI to do the repetitive bookkeeping, and licensed accountants to review, prepare the tax return and coordinate the audit.
ChatGPT (general AI chatbot)
Choose ChatGPT if you want to understand a term, draft an email to your accountant or check a formula, and you will not rely on it for filings.
Accounting software with AI features
Choose AI bookkeeping software if you are comfortable doing the review yourself and want bank feeds, receipt capture and invoices with less typing.
Bookkeeper or accounting firm
Choose a bookkeeper or accounting firm if you want a named professional to prepare the tax return and a CPA practice to audit.

What the table does not show

What ChatGPT can and cannot do for a Hong Kong company

ChatGPT is useful for explaining a concept, drafting a message or sorting data you paste in. OpenAI's terms say output may not reflect facts accurately, is not guaranteed to be correct and should not replace professional advice. It has no ledger and no connection to your bank, and it cannot prepare audited financial statements or file a profits tax return.

What the IRD expects with a profits tax return

The IRD asks companies to file the profits tax return with financial statements and a tax computation showing how assessable profits were reached. Corporations generally need audited financial statements, with exceptions such as dormant companies. An audit is carried out by a CPA practice, so AI can prepare the books but not take the place of the auditor.

Seven years of records

Section 51C of the Inland Revenue Ordinance requires a business to keep sufficient records of income, expenditure, assets and liabilities, for at least seven years after the transactions are completed. Failing to keep sufficient records without reasonable excuse can lead to a fine of up to HK$100,000. A chat history is not a record system, so keep invoices and statements in a ledger you control.

Personal data and AI tools

Bank statements and invoices hold personal data of staff, customers and suppliers. The PCPD's checklist on employee use of generative AI asks organisations to set what may be entered into a tool, including whether personal data is allowed, and to have staff verify the output. Decide that policy before anyone pastes a statement into a public chatbot.

Where OCTIS fits

OCTIS puts AI and automation on the repetitive work (data entry, reconciliation, reminders) and licensed accountants on review and the tax return. AI backs them and never replaces them. For a Hong Kong company on the OCTIS global plan, OCTIS coordinates the statutory audit with an independent licensed auditor, who signs it. Share your current bill and OCTIS aims to come in 10–30% below it, or gives you a written quote.

See OCTIS pricing

Frequently asked questions

Can ChatGPT do my bookkeeping?

Partly. ChatGPT can categorise lines you paste in, explain debits and credits and draft a reconciliation. It has no ledger, no bank feed and no audit trail, and OpenAI's terms say its output is not guaranteed to be correct. Treat it as a drafting aid and have an accountant review anything that goes to the IRD.

Can ChatGPT prepare my profits tax return in Hong Kong?

It can explain the form, but it cannot file for you or stand behind the numbers. The IRD asks for financial statements and a tax computation with the return, and a corporation generally needs those accounts audited. Have an accountant prepare the return and a CPA practice audit the accounts.

Do I still need an audit if I use AI bookkeeping software?

Yes. Software improves the books, but it is not an audit. Under the Companies Ordinance a Hong Kong company needs its financial statements audited, and the IRD generally wants audited accounts with the profits tax return, except for cases such as dormant companies. A CPA practice does the audit.

How long must a Hong Kong company keep accounting records?

At least seven years after the transactions are completed, under section 51C of the Inland Revenue Ordinance. If a company has tax losses, the IRD advises keeping the records until seven years after the year the losses are fully set off.

Is it safe to upload bank statements and invoices to ChatGPT?

Only if you accept the privacy trade-off. OpenAI lets personal accounts switch off "Improve the model for everyone" and says Temporary Chats are deleted from its systems after 30 days. Your documents still contain other people's personal data, so follow the PCPD's guidance and set a policy on what may be entered.

Can AI replace my accountant in Hong Kong?

Not for audit, tax judgement and signature. AI can replace much of the typing and matching, but the audit is signed by a CPA practice and someone must answer for the tax return. The practical answer is AI for the repetitive work and a licensed person to review and sign.

Sources

Checked on the date above. Links open the provider's or regulator's own page.