AI-Native Accounting Software: The Platforms Taking Share From Xero, QuickBooks and NetSuite (2026)

Updated October 2026.

This article covers the agentic AI platforms taking that share, how quickly adoption is likely to happen, and why it’s more important than ever for accountants to have a strong network, deep expertise and good relationship-building skills.

What is AI-native accounting software?

AI-native accounting software is accounting software built around AI from the start, where the AI does the processing (coding transactions, reconciling, preparing the BAS and financial statements) and a person reviews the result.

Traditional platforms like Xero, QuickBooks and NetSuite were built for a person to key in, code and reconcile transactions, and AI features have been added on top since. AI-native platforms start from the other end. You may also see them called agentic accounting platforms, because they use AI agents that complete the work rather than suggest it.

AI-native bookkeeping and accounting is here, and it’s only a matter of time until all the accounting software providers become AI-native.

What AI-native accounting software is available in Australia?

In Australia the two names to know right now are BankSync and Ezyiah. They work quite differently.

Ezyiah is the closer of the two to a finished product. It has a bank feed into your bank account, and from there it does the coding, the BAS and the financial statements in a matter of seconds or a few minutes.

BankSync is an MCP for your bank account. MCP (Model Context Protocol) is a standard way for an AI agent like Claude to connect directly to another system, so BankSync gives the agent live access to your bank transactions. It doesn’t produce the output for you. You build your own skills inside Claude to turn the bank data into coded transactions, a BAS and financial statements. It takes a bit of iteration to get right, but it isn’t difficult. I use BankSync with Claude to prepare the BAS for my own business.

Which AI-native accounting platforms are growing fastest in the US?

The US is further ahead, and a few of these companies are growing very quickly. The figures below are the ones the companies or their investors have reported publicly.

Rillet raised its Series C led by ICONIQ, with Sequoia and Andreessen Horowitz. The company says its annual recurring revenue doubled every quarter over the past year, and doubled again in the three months before the round closed. It has raised over US$200 million in total.

Basis builds AI agents for accounting firms rather than for businesses. Its round was led by Accel, and it says it’s working with about 30% of the top 25 US accounting firms and 20% of the top 150.

Campfire raised its Series B just 12 weeks after a US$35 million Series A.

Digits tested its system on 2,000 transactions and reported 97.8% coding accuracy, against about 79% for a team of outsourced accountants. Digits sells the product, so treat that as their result rather than an independent test.

Across the whole sector, 42 AI tax and accounting companies raised a combined US$1.23 billion in the first ten months of 2026, according to CPA Trendlines.

How fast will accountants adopt AI-native accounting software?

Faster than they adopted bank rule software, because AI-native software is so much easier to use.

Bank rules took time to set up and had a learning curve. You had to watch videos to understand how to build them, then write a rule for each supplier or transaction type and keep maintaining them. Anything that didn’t match a rule still landed back in the queue for a person to code.

AI-native software has a much lower learning curve, and it’s significantly quicker. There’s nothing to configure for each supplier. The software reads the transaction, looks at the context and history, and codes it, and a person reviews the exceptions.

Will AI-native software replace Xero and QuickBooks?

Not overnight, but it puts real pressure on them. It’s likely Xero and QuickBooks will need to replace their bank rules with something more AI-native to keep their market share.

AI has also reduced the cost to develop software globally, so more and more of it is being produced. A product that used to need a large team and a couple of years can now be built by a much smaller team in a fraction of the time. The accounting software industry, like every software industry right now, is going to become more fragmented. Instead of a handful of platforms holding most of the market, expect a long list of products, many built for a particular niche or one part of the workflow.

Silicon Valley experts predict that software will become commoditised, and that instead of software as a service it will become service as software. AI does the work and an industry expert reviews it. The expert brings their human expertise and network, and maintains the relationship with the client.

Will AI replace accountants?

AI will replace a lot of the processing work, not the accountant’s expertise, network or client relationships.

When the processing gets cheap, it stops being what clients pay for. Coding transactions, reconciling and preparing the first draft of the numbers are the parts of the job most exposed to AI, and those are exactly what tools like Ezyiah already do in seconds or minutes.

The key takeaway to prepare for AI is to focus on your industry expertise, your network and your relationships. These are the areas that will stop you from becoming commoditised.

If most of your firm’s value sits in processing hours, that’s the part AI will price down first. If it sits in what you know about your clients’ industries, who you can introduce them to and the trust they have in you, that’s still yours when the processing is automated.

A few practical places to start:

• Go deeper into the industries you know best, so your advice is specific to the client’s business.
• Build referral partnerships with other professionals who serve the same clients, such as mortgage brokers, financial planners and lawyers.
• Either spend the time AI frees up on providing more business advice, or have a strategy for getting a higher volume of clients.
• Test an AI-native tool on a small part of your workflow now, so you understand it before your clients start asking about it.

My prediction for the next two years

I’m predicting that the bank rule paradigm is going to go extinct, the same way desktop accounting did for MYOB, and that AI-native accounting will take over across all the major players within the next two years.

About the author

John Kim is an accountant and a former account executive at a publicly listed accounting software company. He founded JSK Advisory, which helps accounting firms grow, and is currently helping a handful of firms update their software stacks so they’re better suited to AI. This article reflects where the market stood in October 2026. For more on choosing AI-ready software, see our review of practice management software for accounting firms.

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