AccountsIQ

About AccountsIQ

Accounting transaction collection, processing, and reporting are made easier using AccountsIQ. They specialize in assisting multi-entity and developing firms who want to automate their procedures and reporting. AccountsIQ collaborates with over a hundred nonprofits, most of which have more complicated accounting and reporting requirements. AccountsIQ is a cloud accounting software that makes financial data collection, processing, and reporting a breeze. It has simple tools for automating consolidation, budgeting, auditing, filing digital VAT forms, and managing cash flow. It is built primarily for commercial contexts where several entities require access to a single platform and is appropriate for small to medium-sized businesses in all industries. AccountsIQ allows for extensive and granular reporting and performance benchmarking throughout a group network thanks to its customizable 3-tier General Ledger and 6-dimension BI coding structure. There are 250 reports, management reporting packs, and dashboards included, as well as an Excel Add-In and a Power BI link for customized analysis. Their cloud-based smart accounting software was created on the cloud. It allows you to automate a variety of financial operations, work more effectively with your team, and complete month-end tasks faster.

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Pricing

Free Trial Not Available
Offers Custom plan.
View Detailed Pricing

SW Score Breakdown The SW Score breakdown shows individual score for product features.Read more

Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more

93%
Reviews

71%
Momentum

67%
Popularity

79%

Platforms Supported

Browser Based (Cloud)

Organization Types Supported

All (Small, Medium, Large)

API Support

Available

Modes of Support

Online

AccountsIQ Features

Show Feature Explanation

Show Missing Features

Accounting Features

Features: The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more

93%

Spend Management

Managing the expenditure of a business in order to build its product or services

Revenue Recognition

Determining the specific conditions under which revenue is recognized or accounted for

Purchasing

Acquiring goods or services required for the business at minimal cost

Project Accounting

Creation of financial reports specifically designed to track the financial progress of projects

Payroll

Handling the salary payable to the employees

General Ledger

Maintaining and recording all the accounting related transactions.

Fixed Asset Management

Helps in tracking fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence.

Expense Tracking

Keep a count of your day to day expenses as well as allows you to quickly identify where the expense report is in the approval process.

CPA Firms

Offers collaboration with a professional expert for financial and consulting services.

Cash Management

Collection and management of cash.

Billing and Invoicing

This feature helps in issuing and handling the invoice and bills.

Bank Reconciliation

Matching the balances of an entity's accounting records with the corresponding information on a bank statement.

Accounts Receivable

Handling the money the client owes to the company.

Accounts Payable

Handling the money owed by a business to its suppliers.

Tax Management

Management of finances for payment of tax as well as assessing the advance tax liability to pay your tax in time

Multi-Currency

Enables payment and collection in multiple currencies.

Collections

Recovery of cash from a business or individual.

AccountsIQ Pricing

Free Trial

Not available

Pricing Options

Premium Plans ( Subscription / Quotation Based )

Essentials (AIQ1) Others

From £199 Per Month

All the basics and more for Businesses of all Sizes

Features

Accounts Receivable
Accounts Payable
AP Inbox
VAT with MTD
Bank Feeds with Auto Rec
E-Payments
Multi-Currency Transactions
3 Level GL Coding
6 Dimensional BI Analysis
Journal Manager
Budgeting
User Profiling
Reporting & Dashboards
Excel Integration
Bulk Email
Document Manager
Workflow Approval
Expense Capture
Mobile App
AIQ Academy e-Learning Portal

Growth (AIQ2) Others

From £450 Per Month

All the tools for growing and multi-entity businesses

Features

Consolidation - Single Currency
Order Processing
Group VAT MTD
Inter-Company Management
Fixed Asset Register
Power BI Connector
Sandbox Database
Plus all the features in our Essentials plan

Enterprise (AIQ3) Custom

Price on application. Designed for larger/complex enterprises

Features

Consolidation - Multi Currency
Access to Custom Integration & Reporting
Inter-group Order Processing
Inventory Control
Account Management
API Access
Plus all Our Essentials and Growth Plan Features

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Disclaimer: The pricing details were last updated on 27/06/2024 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

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AccountsIQ Reviews

User Rating

4.6/5 (Based on 60 Ratings)

Rating Distribution

Excellent
65%
Very Good
28.3%
Average
6.7%
Poor
0%
Terrible
0%

User Sentiments

User-Friendly Interface, Comprehensive Reporting Functionality, Efficient Bank Reconciliation, Seamless Integrations with other platforms

Occasional Software Glitches, Limited Customization Options for Invoices and Statements, Complexities with Intercompany Transactions, Lack of Specific Features (e.g., CIS Module, Bulk Invoicing)

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Review Summary

Accounts IQ is a popular accounting software praised for its user-friendly interface and strong reporting capabilities, particularly for multi-entity consolidation. Users appreciate its ease of navigation, quick data entry, and automated tasks like VAT calculations and payslip generation. However, some find the implementation challenging and require training. Concerns also arise regarding the price point compared to traditional systems, occasional glitches, and limited customization options. Despite these drawbacks, Accounts IQ is widely considered a valuable tool for streamlining financial processes and providing insightful reports.

Pros

AccountsIQ automates tasks like VAT calculation, pay calculations, and payslip generation, making accounting more efficient.
It's userfriendly and easy to use, even for nonfinance professionals, making it accessible to a wider audience.
The software provides a wealth of reporting features, including profit and loss statements, customer accounts, and sales forecasts, offering comprehensive financial insights.

Cons

The software can be expensive compared to traditional paperbased systems.
Implementation can be challenging, requiring training, and it sometimes experiences glitches requiring time to fix.
The limited customization options might not suit users seeking a highly tailored accounting solution.

AI-Generated from the text of User Reviews

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