Professionals such as consultants, accountants, architects and lawyers who charge on a time and materials basis can spend endless hours on frustrating administration. This increases non-chargeable time and lays the ground for inconsistencies when data doesn’t tie together. AccountsIQ solves these challenges with a feature-rich project costing module which fully integrates with the accounting system. A project planning module in our accounting software for professional services allows you to schedule resources and activities across a timeline as well as view the allocation and availability of resources by project or by team. Time is recorded in a system designed by professionals for professionals.
Linked directly to AccountsIQ’s ledger system and the project plan, automated project billing will generate milestone or recurring invoices and update the ledgers simultaneously. Project transactions can include time, materials, expenses, 3rd party costs, accrued time, revenue recognised, WIP provisions and advance payments. Reducing paper as well as precious time, a complete workflow solution automates internal approval and review processes, ensuring elements are signed off in a timely and efficient way. User access can be defined which allows staff to securely access the parts of the system relevant to their role or project.
We knew we had to take a Cloud approach to create the kind of service our larger clients want at a reasonable price – remote access, more efficiencies, less paper, less time. We also need quite complex functionality including multi-company consolidation and multi-currency accounting. We started the search for a mid-market cloud solution for hotels and we found AccountsIQ.