A cloud accounting software with consolidation and business intelligence.
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.
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:
Saving time, reducing travel and printing costs.
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.
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.
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.
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.
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.
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:
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.
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.
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.