Cloud Accounting Software for Property Companies

AccountsIQ has proven to be a very good fit for Property Management Companies with some unique functionality allowing the efficient running of these companies including:

  • Recurring invoicing for tenants and running costs
  • Departmental Analysis for managing several properties
  • Inter-company transactions enabling apportionment of costs across several properties
  • Business Analytics to help analyse property fund performance and compare versus personalised KPI’s
  • Consolidation of accounts for different funds (if required)…

Multi Property Funds:

Using our Consolidation module you can easily create accurate and consolidated accounts – and not just for wholly owned subsidiaries, but also partials and foreign currency subsidiaries as well. And also multi-level consolidations (i.e. groups within a group). And also, if desired, broken out by “Departments” (e.g. consolidated Company Branches or Divisions and/or Product Categories, etc.) across the Group as a whole. The AccountsIQ Group Consolidation module makes time consuming and complicated monthly consolidations quick and easy.

You can then obtain real-time on-line access to the consolidated results for the group and all the subsidiaries from one single system. Once set up, the process is straightforward and takes less than a minute or so to consolidate data from multiple companies with one click. Individual AccountsIQ subsidiaries with similar GL Account categorization and co-terminus year-ends can be linked together to consolidate into an overall parent company. This helps eliminate costly and error prone work flow practices resulting from trying to consolidate data from different systems and spreadsheets. Different subsidiary companies can have entirely different General Ledger Coding systems deployed, the only requirement being that the basic GL Codes be linked to a common set of General Ledger Categories and Sub-Categories for Consolidation and Reporting purposes.

Consolidation Features:

Consolidation of Multiple Subsidiaries (Incl Sub Groups)

Engineered to manage the consolidation of a large number of subsidiaries’ datasets with ease. Also handles sub-groups where the consolidated entity itself is a subsidiary of a larger group consolidation in a complex organisational corporate structures.

Manage Complex Ownership Arrangements

Consolidation can include and be set up to recognise Minority Interests where the ownership is less than 100% and create the relevant postings into the consolidation entity.

Handle Foreign Currency Consolidations with ease

Subsidiaries can operate in their own base currency and the results are translated into the base currency of the consolidation entity, based on stored exchange rates for each reporting period. P&L accounts are correctly translated using average period rates and Balance Sheet accounts at period end rates.

Centrally Control Exchange Rates

No need to waste time maintaining average and period end exchange rates in multiple subsidiaries. Central Currency Management enables you to maintain rates in one central table. The updates automatically propagate to all related subsidiaries using triangulation of the group stored rates.

Report on actuals vs Budgets by BI Analysis structure at Group Level

Budgets, revised budgets, actuals and variances are rolled up from subsidiary companies making it easier to view overall performance and trends across the group at any time, including BI Analysis coding as well as GL Chart of Accounts enabling group level BI reporting.

Simplify the posting of Intercompany Charges

Raise intercompany Sales Invoices that automatically create Purchase Invoices in the receiving company. Purchase invoices remain “unposted” until approved and coded in the receiving company. Ensures that intercompany accounts remain balanced for elimination at group level, even if balances are in different currencies.

Month End Currency Revaluations

Provide your team with the tools to simplify the revaluation of foreign currency bank, debtor and creditor accounts at subsidiary level based on centrally maintained exchange rates. Unrealised gains (losses) are automatically posted and base currency value of assets and liabilities adjusted prior to consolidation, facilitating elimination of intercompany balances at group level.

Group Sales & Purchase Analysis

Consolidated Sales & Purchase Analysis to allow group-wide reporting and benchmarking where common products/services involved.

Post Consolidation Adjustments

Make adjustments at group level to eliminate inter-company profits etc at group level without affecting the subsidiary figures.

Group Reporting:

AccountsIQ has a powerful analytical and Business Intelligence capability with an additional 6 layers of querying the database in addition to the standard GL structure of accounts. What this means is that once data is captured, the accounting system can report it in any format you wish. You can also have customized reports and dashboards created and released against any specific company (in addition to the 250 pre-written reports within the system):

Consolidate your data when ready and as often as you like to obtain the latest results across your group. Also, being an on-line Cloud Accounting system, with AccountsIQ you can consolidate globally or nationally geographically dispersed companies simply and easily without any of the data collection issues you would encounter with multiple “on-premise” systems.

 3  AP-Dashboard

Additional Features:

Multi-Company with Group Consolidation (inclusive of Multiple Currencies) Inter-Company Transactions & Postings
Multi-Jurisdiction Tax Multi-Currency with Revaluations
Multi-Location Accounting Full Integration with many and increasing No. of  POS Solutions
Multiple Profit Centre/Cost Centre Analysis and Reporting Project & Job Accounting
Automated Bank Reconciliation eBanking Integration & On-Line Payments
Many Standard Dashboards and also User Designed Dashboard Development Tools Fully “White Label” & “Own Brand” the System as your own
Incoming Supplier Emailed & Scanned Invoices Automated Input & Data Capture Comprehensive Purchase Order, Purchase Invoice and Purchase Invoice Approval Workflow procedures
Customisable Chart of Accounts Customisable P & L and Balance Sheet Reporting
General Ledger Drill Down Explorer Transaction Browser with Powerful Navigation features
Client Company and User Administration & Control Layer User Definable Menus, Nomenclature and Permissions
Company Setup Wizard and Company Templates for US, UK, Aus & Irl, etc. Extensive On-Boarding of Current and Historical Data
Document Management/Paperless Office Bulk Emailing of Documents (Statements, Invoices, etc.)
Comprehensive Reporting Facilities Business Intelligence Software Integration Facilities
Extensive Data Export/Import Tools & Facilities Excel Add-in for Data Extraction, Reporting and Charting
Worldwide coverage with Tier 4 Datacentre Server Infrastructures located in USA, UK and Australia Individual Separate Databases for each Client Company(ies)
Comprehensive Sales Ordering, Sales Ledger, Purchase Ordering and Purchase Ledger Modules, As well as Inventory Management, General Ledgers, Departmental Ledgers, Banking Modules
Budgets and Revised Budgets Cash Flow Management & Reporting
Time Tracking facilities Excel Integration
Full set of “How To” Articles complements On-Line Help & Documentation On-Line Audit Trail Enquiry and Reporting (inc. “System Changes” tracking)
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AccountsIQ uses the Software as a Service (SaaS) commercial model whereby all operational Client services are provided for a single low monthly usage Fee. This includes provision of all the required Server Processing and Storage infrastructure hosted in the highest security Tier IV Datacenters, all Databases, Application Software and Upgrades, Application Support, Infrastructure Management, Backups, Security patches, 24/7 operation with access from anywhere in the world and with 99.98% uptime. The infrastructure and service is completely scalable and can be expanded as your Group of Companies expand, continue to grow and prosper.

Our Group Company Clients:

Group Consolidation Clients

“We are impressed with the reporting capabilities of accountsIQ, and with the support we got from the accountsIQ team in implementing the new system.

A cloud solution makes so much sense for a multi-location business like ours. We now have a strong foundation on which to manage and grow our operations and develop our franchise model, while maintaining tight control .”

Barry Kehoe, Chief Financial Officer of Insomnia  

“As part of our strategy as outsourced accounting providers,  we realised that moving to the cloud to service our client base was essential.  AccountsIQ is now an integral part of our offering.  Both staff and clients really enjoy using the software and it serves a very diverse range of clients both in terms of industry and scale across multiple jurisdictions.” 

Gerry McNally – Owner of MBSL

Case Studies: Read our Case studies here.

Read some of our articles about Cloud Accounting:

An Introduction to the Cloud

A look at Cloud Security

Analysing the cost savings of Cloud Computing

Cloud Accounting: Radically changing the way we work

Download our Group Company Accounting Brochure:

Cloud Accounting for Group Companies

For more information, or to book a demonstration of the system, please contact us here.

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