accountsIQ Software

The structure of the coding framework in AccountsIQ is extremely flexible and saves us so much time when preparing our external financial reports. We have added seven or eight entities since implementing AccountsIQ and we simply replicate the original model for each new subsidiary. It is a very uncomplicated approach and a time-saving solution for group companies.

We've integrated AccountsIQ with other business systems such as electronic document management and a property management system. These integrations save us so much time and reduce the risk of human error. AccountsIQ also synchs batch payments with our online banking, which also reduces duplication of work.

AccountsIQ’s customer success team are excellent. They helped us define dashboard reports which provide financial analysis in a very consumable way, allowing us to quickly identify areas in which we need to take action.

Pros

AccountsIQ saves us a day a week in processing time in data entry from other business systems, reconciliation, and automated invoice processing which allows us to spend more time on strategic tasks such as analysing and presenting information so that the senior management team can make more informed decisions.

AccountsIQ simplifies complex consolidation procedures; and has enabled us to integrate information from our property management system Landmark; and provide insightful management reports using dashboards.

We like the fact it has helped us streamline processes, it saves us a huge amount of time, it's a scalable system too. The advanced Business Intelligence, reporting and consolidation functionality are very good. We need to produce reports for our investors and it's really easy to get these on demand from AccountsIQ.

Cons

There isn't anything I don't like and we're glad we found AccountsIQ.

Pros

This software is not user friendly unless you are a little more advanced in your accounting department

Cons

The only con is the ease of use. It has complex functionality which is easier for persons higher up in the accounting department.

Pros

AccountsIQ helped us to move away from the old model of sharing data sets with clients. We can work much more easily with our clients now, sharing access to the same real-time information stored in the Cloud.
AccountsIQ has become an important part of our ongoing development, and is part of our strategy to move forward. The software enables us to offer our services to new consumer-based sectors such as retail, and will allow us to process much higher volumes of transactions through automated Accounts Payable.
We have over 40 clients supported on AccountsIQ.
With AccountsIQ we can work collaboratively and they respond to our needs and work with us to improve the accounting service we provide to clients. We feel we have the partnership we were looking for. The next step is integrating with CRM software and banking software.

Pros

The system is used by thousands of our business students to work on tutorials for teaching business and financial management. It's a great accounting system for teaching as we can set exams with literally no set up required. Students can follow it easily and we can see clearly how each student has performed.

We worked with AccountsIQ to create a version of the software that would enable UCD's students to learn and be tested, each year we have 500 students and so over the last 5 years we've had nearly 5,000 students using the AccountsIQ system.

The University can set tutorials and reset all companies used for each tutorial to a starting position afterwards. Each year we get a fresh copy of AccountsIQ cleared of data and re-supplied for the fresh intake of students.

AccountsIQ is more logically set out than some other systems, it isn't at all complex and students can see quite clearly the progression through various business processes such as the expenditure and revenue cycles. It's very intuitive.

Consolidation and multi-currency accounting
Easy to produce hotel industry reports
Faster invoice processing
Reduced risk of human error
Remote access
Extended business analytics
Easy integration with other systems

Pros

AccountsIQ is an advanced accounting solution which helps us attract business from larger, multinational hotel groups. Its complex functionality gives us the level of complexity, reporting and consolidation needed to win business at the higher end of the market e.g. multi-company consolidation and multi-currency accounting.

We find AccountsIQ easy to use and it can be easily configured to pull off bespoke reports easily.
AccountsIQ's open API means it is easily integrated with other apps such as AutoEntry's document scanning, this combined solution means we save hundreds of hours a month on data capture, analysis and processing of invoices and reduces the risk of human error.

The business intelligence for clients is fantastic with customised dashboards and readily available insights.

Complete transparency and visibility of financials
Drill down to individual transactions
High quality reporting
Integrated with bank accounts

Pros

AccountsIQ was selected, because of its clear, simple and intuitive way of working.
Now we have complete transparency and visibility of our financials. We can easily drill down to individual transactions and even down to items on an individual invoice without having to pull out any invoices or backups.
AccountsIQ's implementation team helped design and create a set of customised reports for us.
The reporting is high quality, and it's very simple to extract the information we need. It's a vast improvement over what we had before.
AccountsIQ has been integrated with our bank accounts, so we can manage all payments and receipts online directly with the bank and download all bank transaction data directly and post automatically to AccountsIQ and complete bank reconciliations seamlessly.

Saves so much time.

Pros

Document storage, attachments and workflow processes. Saves so much time. Being able to attach the document from the system saves you having to locate it elsewhere, scan it, attach it.... the email feature is great. It runs really smoothly.

Automatic consolidation based on real-time data
Easy to produce custom management reports
Improved working processes such as purchase order approval
Massive staff time savings

Pros

Reporting ability is fantastic - used to spend weeks each month producing consolidated accounts and management reporting packs (as we are a group with 80 entities) using a complex process run from spreadsheets but now with AccountsIQ it takes minutes.
Consolidation is easy
Great value for money
Great customer support - nothing too much trouble and the implementation process was seamless and easy.

Flankly have not used this accounting software - have just read its profile and realised that this the software relevant to my accounting operations specific to the size of our business entity. Like other softwares, I see most of the basic modules which are relevant.

Pros

Have all the basic required modules for our entity.

Cons

Since have no experience on using the software, I am not in the position to commend on this - what I see in a nutshell, is the best for our environment.

Advice to Others

None

When searching for the right Cloud Accounting provider we found that there was a huge trade-off between price and functionality. AccountsIQ is a very functional system whereby you only pay for the functionality you use. The benefits of Cloud working are immense and easily explained. But selecting the right provider is a challenge. The implementation was excellent and we were helped every step of the way. The system has performed above expectations and as we add more companies we simply call our account manager and pay accordingly. The Consolidation feature means no more messy Excel spreadsheets and costly errors.