FAQs

Hopefully all of your burning questions will be answered in the FAQs listed below, but if not please contact us for a chat to discuss further. We review these questions regularly and will be adding more over time. You can also check out some of our case studies and customer testimonials to see how we’ve helped solve the pain points of our customers, improving productivity and streamlining processes to give them greater business insight than ever before.

Consolidation and Reporting

How does your consolidation software work?

Our consolidation software engine is a key feature of AccountsIQ. It makes it easy to consolidate multiple subsidiaries and manage complex ownership, handle foreign currency, centrally control exchange rates, and simplify intercompany recharging. It is an ideal time-saving solution for multi-company and multi-location businesses. 

By linking the range of branch-level ledger codes to a common set of group codes, AccountsIQ allows your subsidiaries to enjoy individual coding structures while you retrieve and drill down the data that you need to give you a clear view through your Group accounts in real time, in one click, in any currency you choose. Read our blog on multi currency accounting for more info.

Does AccountsIQ consolidate my group companies automatically or do I still need to do this manually in Excel?

AccountsIQ allows you to automatically consolidate your group at the touch of a button and even groups with 240 entities or more can be consolidated in just a few minutes. A great example is our case study with Salamanca Group who now spend 5 minutes a month consolidating 80 companies and producing management reports. Read our blog on automating financial consolidation for more info.

Can all our entities be consolidated on AccountsIQ even if some use different accounting software?

If a subsidiary uses different accounting software, they can be incorporated into the consolidation. Most of our customers have all their entities predominantly on AccountsIQ but occasionally there are some entities using different software. We can import trial balance data into companies that will then be included in a consolidation.

Our management team often require in-depth analysis in real-time. Can your software do this?

AccountsIQ comes with a suite of dashboards and reports to give users better insight into company performance, based on real time data.

What reporting capabilities are available with AccountsIQ?

AccountsIQ includes over 300 pre-built reports designed by experienced accountants to provide high quality comparative and analytical business performance reporting as standard. 

You can also present your analysis with impressive budgeting, graphing, and statistical reporting of both financial and non-financial Key Performance Indicators. There is also a Business Intelligence tool for more complex data analysis.

Can I build my own reports?

Dashboard reports can be created in just a few clicks. A ‘drag and drop’ feature allows you to choose which segments of the data you need to visualise and how you would like to present it. A clean and organised user interface provides a clear view of actuals versus a range of comparisons such as budget or previous periods.

For finance staff who really want to utilise the power of Excel, our Excel Add-In is an integration which allows you to create your report by manipulating real-time financial data.