A cloud accounting software with consolidation and business intelligence.

About AccountsIQ

accountsIQ is a full featured multi-currency business and accounting software solution delivered as a pay per use service. It uses the latest technology to allow full collaboration across multiple businesses, at anytime from anywhere, via the Internet from a highly secure SAS 70 Type II hosting facility. This affords you the advantages of managing multiple entities in real time on a single platform without the cost of the IT infrastructure to link the multiple entities.

Video Overview

The functionality of accountsIQ includes accounting, commercial, business intelligence and paperless office capability. It has a modular design so a business can adopt a solution that suits its specific needs initially, but with the option to add additional modules when required. It’s Microsoft© SQL Server database engine allows it to scale easily from small to medium sized businesses with large volumes of transactions and users.

accountsIQ’s system management layers controls access to functions, reports and dashboards based on a user’s role and permissions. You can customize your own charts of accounts and set up your accounts to suit the processes that drive your business. A full audit trail is maintained of all postings and transaction amendments made by users. Time spent by each user on each entity can be tracked if required.

AccountsIQ has powerful Business Intelligence functionality including extensive ability to track/analyze results by business line, location, department, project, job etc.

KPIs (Key Performance Indicators) can be produced based on combination of financial results and user defined statistics, with user-defined management dashboards ideal for real time reporting on a full range of performance measures.

A Web Services integration layer allows accountsIQ to be connected with other business systems – e.g. Payroll, CRM, EPOS etc. to provide an integrated total solution for your business.

Our Paperless Office capability delivers productivity gains and cost savings in an environment friendly way:

  • You can store encrypted electronic versions of all relevant business documents against the transactions or accounts to which they relate, for later retrieval.
  • All documents generated in accountsIQ can be emailed directly from the system.
  • Make electronic payments and automatically reconcile bank accounts via Internet banking.

Saving time, reducing travel and printing costs.

Cost of AccountsIQ

  • From $60 - $225 per month for up to 5 concurrent users
  • Contact for pricing at higher user levels

Accounts Payable

  • Flexible user definable alpha-numeric coding structure
  • Multiple control accounts (e.g.: for separate control of inter-company accounts or client monies)
  • Keeps track of forward dated invoices/charges
  • Debit notes & Credit/Debit Journal adjustments
  • User defined credit terms and automatic ageing
  • Easy payment generation and remittance advice production
  • Full purchase tax calculation and management
  • Automated payment generation and approval routine
  • Emailing of remittances
  • Check Printing (incl management of Voids)
  • Full handling of foreign currency supplies and payments

Accounts Receivable

  • Flexible user definable alpha-numeric coding structure
  • Multiple control accounts (e.g.: for separate control of client monies or inter-company accounts)
  • Head office grouping and processing of multi location customer accounts
  • Quick invoice posting and invoice generation
  • Facilitates forward dated invoicing
  • Invoice copy/repeat feature
  • Easy cash posting with full allocation to transactions
  • Credit/Debit Journal adjustments
  • Statement production with full ageing
  • Emailing of invoices and statements directly from system
  • Credit notes and Credit/Debit journal adjustments
  • Full sales tax calculation and management
  • Full foreign currency support for banking transactions
  • Recurring Sales Invoice management


accountsIQ has extensive budgeting capability to allow actual results to be measured against budget. Budgets are held throughout the system in the same structure as the actual data so that comparisons and variances can be easily produced.

Use Excel to Populate Your Budgets and Import Them

You can extract an Excel file directly from the system prepopulated with your listing of GL Accounts (and departments) along with existing budget or actual values.

You can then update the extracted values as you wish in Excel for later upload back into accountsIQ. They will then be visible in reports and within the GL Explorer screen.

As an example you could choose to download all actual values from last year and then apply a simple formula in Excel to adjust these by a certain %.

These values could be then imported and used as the basis for your current year budgets.

Similarly, you could take last year’s budget values and then adjust them by a certain % and re-import those as this year’s budgets.

Budgeting Features

The following features are available:

Budget details held at GL account level by period by year but also across the user defined analysis code structures.

Using the analysis group structure budgets can be rolled up for locations, departments, lines of business, cost centres, profit centres etc.

Budgets for relevant GL and analysis code combinations can be added at any stage without requiring all combinations to be created in advance.

Original and revised budget datasets allow budgets to be revised without loosing the original budget.

Ability to combine actuals to date with revised budget for the remaining periods to produce an expected outturn.

Budgeted User Defined Statistics can be maintained for reporting non-financial measures and can be combined with financial results to produce meaningful budgeted KPIs for comparison against actual KPIs.

Budgets in individual entities own base currency are translated to common base currency within the consolidation routine for detailed comparison against overall groupwide actual results.

Easy to use Excel template can be used to update budgets from an existing financial projections or budget model to accountsIQ original or revised budget values.

GL Explorer function allows budgets and variances against actual to be interrogated by GL Code, GL Category or via the analysis code and group structure.

Business Intelligence

Not all business processes can be measured in pure financial terms. Some important business drivers which have measurable impacts on key business objectives and overall business performance, cannot be measured in $s.

Likewise some business drivers which can be measured in $s, need to be related to other measures to make them more meaningful (e.g. Increasing Support costs per call serviced tell a different story than reducing Support costs). Measures such as these are often called Key Performance Indicators (KPIs) and give management real Business Intelligence ýBIý that helps them make better informed decisions on how to improve performance.

accountsIQ’s BI Approach

The explosive growth of the internet and online computing can now give management access to information anytime-anywhere . To compete in this millennium, a business needs an edge to keep it sharp and focused. accountsIQ gives this edge through its BI features. In addition to a full suite of accounting and commercial modules, accountsIQ incorporates an approach to business analytics that sets them apart from their competitors.

Our Business Intelligence toolset enables the financial data from the accounting and commercial modules to be analyzed whatever way is required - by business line, location, cost center, department, project, job, profit center etc.

This financial data can then be combined with user defined statistics that are analyzed in the same way. Overheads can be automatically allocated across the analysis groups using a statistical measure as the allocation basis . This would provide a more accurate measure of the true contribution/profitability of each business line, profit centre etc.

Key Performance Indicators

KPIs can be defined as any combination of these financial results and statistical measures. All financial results, statistics and KPIs can be extracted using easy to use tools. You can benchmark against budget, revised budget/forecast or historic results. This enables accountsIQ to be a full repository for all Business Intelligence including:

  • KPIs based on Statistics, financials or both
  • SLA performance measures
  • Customer satisfaction measures
  • Scorecards
  • Benchmarking

All this can be accessible in realtime on a user definable Management Dashboard or extracted to Excel for further analysis. For groups and multiple entity businesses, these can show consolidated results for the group or benchmark KPIs across any group of similar businesses - all over the web.

Cash & Bank

  • Combined receipt/payment allocation and processing
  • Sundry Bank payments and receipts
  • Easy to use Bank Reconciliation with ability to save partially complete reconciliations
  • Creation of templates for recurring transactions including standing orders and direct debits
  • Automatic Bank Reconcliation facility from uploaded statements
  • Generation of electronic supplier payments files (depends on bank)
  • Multiple currency Bank accounts
  • Full foreign currency support for banking transactions
  • Multiple currency inter bank account transfers

General Ledger

  • Flexible user definable alpha-numeric account coding structure
  • Multiple Category, sub-category, group level reporting.
  • Full drill down to sub-ledger transactions
  • External system reference code allows for easy mapping routines, e.g. benchmark reporting.
  • General journal features, including templates, and auto- reversing accruals and prepayments
  • Original and revised budget by period held against each GL account
  • Easy to use budget creation features including importation of budget data from spreadsheet
  • Ability to create user defined business analysis codes independent of the GL coding structure, allowing analysis by combination of up to 6 groups eg: dept, cost centre, profit centre, business line, project, job, location etc
  • Analysis code wizard to auto create analysis codes based on combinations of up to 6 defined analysis group elements
  • Breakdown of original and revised budget by period for each GL code by analysis code & group
  • Ability to maintain user defined statistics by period across analysis codes and groups for use in Key Performance Indicator (KPI) reporting
  • Automatic journal overhead allocations across the user defined business analysis codes (ie: project, business line, location etc)

General System Features

  • Fully integrated open item ledgers
  • Independent period management for all ledgers
  • Multiple window environment to allow multiple tasks open at once
  • Speed data entry features including user definable defaults and use of Alt and Function keys to speed up data entry
  • User defined filtering and sorting on enquiry screens
  • Context sensitive Online Help throughout
  • Browser facility to easily find transactions and review/amend details
  • Full audit trail of all postings and changes made traced to users
  • Tax Processing & Reporting (VAT for UK & Ireland, Sales Tax for US and GST for Australia)
  • Full multi currency processing for all sale, purchase and bank transactions

Integration Layer

  • Data import facility for automatic upload of master-file details, account balances, transactions, charts of accounts etc
  • Data Export feature allows you to extract in .csv format a copy of all your accounts information.
  • Web Services Integration layer allowing integration with other systems

Inventory Management

  • 50 character alpha numeric product coding
  • Handles non-diminishing stock
  • Multiple locations and sub-locations
  • Stock traceability by location/sub-location
  • Location and sub-location on hand, reserved and on order levels
  • Inventory count by group
  • Supports Last Cost/Average Cost valuation methods
  • Price management with multi level price lists
  • Discount structure with quantity and value based discount break points

Multi-Entity Administration Layer

  • Quick company/entity setup based on templates
  • User definable menu structures based on roles and permissions
  • Control assignment of users to specific roles in specific companies/entities
  • Re-assign entities easily to other users when staff leave
  • Control access to reports and dashboard according to user defined roles
  • Auto tracking of time by practice users in each entity

Paperless Office

  • Notice board for communication between all multiple entity group users
  • Full document management capability to allow documents to be stored against accounts, products, transactions etc for later retrieval
  • All documents generated (e.g.: invoices, remittances) can be emailed directly from the system in bulk (eg: all invoices for the month)
  • Email manager facility to track what has been sent, resend etc
  • e-Banking integration to allow payments, direct debit requests to be submitted and bank statement to be reconciled electronically

Purchase Order Processing

  • Purchase Order requisitions
  • Invoice matching against purchase orders/goods received
  • Location and sub-location on hand, reserved and on order levels
  • Bulk discounts and price management
  • Purchase analysis by supplier and product


  • Access over 130 reports, including Trial Balance, Profit + Loss, Balance sheet and Cash flow reports
  • Interactive reports allowing drilldown from summary to detailed levels
  • Save reports as MS Excel, CSV, XML, MHTML, TIFF, or PDF file formats
  • Ability for users to create list of favourite reports for easy access
  • Management dashboard allowing high level graphical view of key management information (limited version in BookkeeperIQ)
  • Variance reporting, including budgets and prior period comparisons (only at GL code level for BookkeeperIQ version)
  • KPI (Key Performance Indicators) and statistical reporting and graphs by analysis grouping (e.g.: department, costs centre, project etc)
  • Business Intelligence tool to allow data to be extracted and interrogated using pivot table extraction
  • Access to Microsoft Report Builder user-based reporting tool

Sales Ordering / Invoicing

  • Sales quotation processing, supporting online trading if required.
  • Full product pricing and discount management based on effective dates
  • Quantity and value breaks on pricing
  • Special prices-manage customer prices by setting discounts by product and time frame
  • Measure cost benefits of discounts and promotions
  • Location and sub-location ordering by item
  • Part-shipment and back order reporting
  • Separate delivery address
  • Sales and margin analysis reporting by customer, product, product group, department, referral source, sales region, sales area and sales rep

Product Overview

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User Reviews of AccountsIQ

Submitted on October 29th, 2017 by Ian Bremner

We provide a long-standing reputation for providing tailored accounting services to the hotel industry, so we needed a more advanced accounting solution to attract business from larger, multinational hotel groups. We ruled out both NetSuite and Twinfield in favour of AccountsIQ based on its functionality and ease of use and talks about how AccountsIQ has enabled the practice to grow.

We’re very much closed-based and felt it was critical we had a mid-market solution that was entirely cloud-based and not partially.

When we found AccountsIQ, it was exactly at the level we wanted. It had the ability to deal with foreign currency and consolidation capabilities which could help us provide those services for our clients. With products like Xero, we could get partway there but with AccountsIQ, because the data is so manipulated, we can get real-time data and prepare cash flow forecasts and report on what our clients want without Excel spreadsheets.

Submitted on August 8th, 2017 by Lee Camp

AccountsIQ’s main success for us has been the efficiency it has brought to the business. The product is a good fit for our pretty complex accounting requirements and AccountsIQ gives us real value for money. We are looking forward to finding even more ways to use the system to improve the way in which we work.

The key issue is trying to consolidate 80 entities. That took a lot of time. It used to take days to download the PnLs and extract into Excel and then consolidate and create the reports. Everything is automated in AccountsIQ. I press a button and in 10 seconds I publish my reports.

Sage doesn’t do any consolidation so it’s difficult to do departmental PnLs and we felt it was limited.