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Considerations for purchasing accounting software for your practice

22nd Jan 2019
Brought to you by
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Award-winning cloud accounting software for multi-company businesses.

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If you’re planning to purchase accounting software for your business or your practice, you might consider Sage and/or Xero as a potential option. However, you should add AccountsIQ to the mix – a cloud-based financial management platform, particularly suited for medium-sized organisations. Find out what makes AccountsIQ so different to the competition.

FLEXIBLE GENERAL LEDGER

If you need to set up a subsidiary, or you need to report on things in a different way, you’ll need to amend your chart of accounts to reflect the changes so that you can produce newly customised reports – but not every system can do that.

With AccountsIQ, there’s a very flexible general ledger, which allows you to amend your chart of accounts and reclassify GL codes to different categories. It’ll save a huge amount of time if reporting requirements change, because there’ll be absolutely no need for complex workarounds or manual editing of reports in Excel once they’re produced.

CONSOLIDATION CAPABILITY

If your client's business or your own practice consists of multiple companies or groups, consolidation is a really important function for your accounting software. Lots of other accounting software systems are poor at handling consolidation, lacking the sophistication to link accounts for separate subsidiaries.

AccountsIQ is designed specifically for consolidation. Our consolidation functionality covers the full General Ledger; including full sales, purchases and analysis consolidation. It can manage multiple currency transactions (FX) at a group level and gives you the power to manage your coding structure at a group level. It can handle intercompany recharging with ease.

PERIOD MANAGEMENT

Do you ever find yourself needing to go back and work on something from the previous financial year? With systems like Sage, it’s necessary to close everything down from the last time period before moving on to the new reporting year. AccountsIQ makes it simple - it is a transaction-based system with full period management that includes FX revaluation functionality for both month and year end. The system allows you to keep periods and years critical to a prior year open and still allow your finance function to move forward to its new reporting year.

CLOUD ADVANTAGES

Cloud-based accounting software, like AccountsIQ, has many advantages over the old, on premise software systems. Here are just a couple:

Real-time reporting to encourage collaboration. AccountsIQ features unique modules created to facilitate engagement with other users in the system in real time. For example, office staff can raise a PO using the finance system; while department heads can see where they stand with their budget in real time.

API library for easy integration with other apps. AccountsIQ can be combined and integrated with other cloud-based software including online banking systems, expense management software and CRM apps like Salesforce. This is something extremely difficult to achieve with non-cloud based accounting solutions.

Read more about AccountsIQ's award-winning cloud accounting software and how it can revolutionise the way you work.

CUSTOMER SERVICE

AccountsIQ has a fantastic, friendly and knowledgeable Customer Success team, and customer support is included at every step of the way, from implementation to training and support.

We want to make sure people get everything out of the software they need, rather than only using a small portion of functionality because they don’t know how to implement the rest. We understand all too well that it’s usually that remaining functionality that can transform your business and save you valuable time and resources.

REQUEST FURTHER INFO

We work with medium-sized businesses and accountancy practices large and small, such as these customers, all of whom tend to have the need for a more sophisticated cloud-based accounting system that is both easily scalable and is affordable.

If you’re looking for alternatives to Sage or Xero, take a look at AccountsIQ. Contact us for a chat about your requirements and to find out more about how we work or Request a Quote.

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