Blog, Industry News, News Update

Why choose AccountsIQ as an alternative to Sage or Xero?

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

Flexible General Ledger

Say your business sets up a subsidiary, or merges with another company. Or perhaps, there’s an internal decision 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 that’s something Sage can’t do.

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

screenshot of accountsiq general ledger accounting software

Consolidation capability

If your business consists of multiple companies or groups, consolidation is a really important function for your accounting software. The bad news is, accounting solutions such as Sage 50, are poor at handling consolidation, lacking the sophistication to link accounts for separate subsidiaries.

accounts consolidation on screen

On the other hand, 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 Sage Accounting, it’s necessary to close everything down from the last time period before moving on to the new reporting year. AccountsIQ, on the other hand, makes it simple. Ours 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 alternatives to Sage Accounting, like AccountsIQ, have 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 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 a tricky and expensive feat to achieve with on-premise accounting solutions.

Read more about how cloud-based software can revolutionise the way you work.

Fantastic customer service

accountsIQ product release

When it comes to customer service, AccountsIQ stands head and shoulders above the competition. Unlike alternative accounting systems such as Xero, our fantastic, friendly and knowledgeable customer service 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.

If you’re looking for alternatives to Sage or Xero Accounting, look no further than AccountsIQ. Contact us for a chat about your requirements and to find out more about how we work or request pricing.

Share this post...Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn