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.

General Questions

What is AccountsIQ?

AccountsIQ is an award-winning financial management system that simplifies the way finance functions capture, process and report their financial information across multiple locations. It offers intuitive tools to automate consolidation, manage budget, audit, digital VAT returns, and cash flow. It is suitable for small to medium-size businesses in all industries and is designed specifically to suit business environments where multiple entities need access to a common platform.

With a flexible 3-tier General Ledger and 6 dimension BI coding structure, AccountsIQ enables detailed and granular reporting and performance to be benchmarked across a group network.

Where do you fit in the marketplace and which clients use AccountsIQ?

AccountsIQ is suitable for any clients but particularly suitable for service-based companies. E.g. financial services, renewable energy, private equity, investment management companies that need to report in some detail on multiple entities, or SPVs at a group level. Any company that needs a strong flexible General Ledger and wants to analyse and report on their group of companies at a granular level of detail would be an ideal customer for AccountsIQ.

Is AccountsIQ Making Tax Digital compliant and does it support digital group VAT submissions?

AccountsIQ’s cloud-based software is Making Tax Digital compliant and enables a live connection to HMRC, streamlining the way your business submits and accesses tax data, improving accuracy and efficiency. With AccountsIQ you can submit your single entity and Group VAT return digitally to HMRC. Watch our Making Tax Digital guide to submitting VAT returns.

Is your cloud accounting software for sale in the UK?

Yes. We have dedicated Sales and Customer Success teams in the UK (as well as Ireland) who support our clients through the sales and implementation process.

Is there a trial period? And if so, what do I receive during this period?

We run a trial period of 2 weeks, during which you’re given a login to AccountsIQ with test data and have access to a pre-sales consultant to help you explore the system. In order to make the most of your time testing the database, we advise you to plan what you would like to test and who you would like to give access to, so we can map out the 2 weeks to give you the best trialling experience.

As my business grows, can AccountsIQ scale to meet my needs?

Our cloud-accounting software is built with all types of businesses and sectors in mind. If your business unexpectedly expands, our modular software is designed to scale and grow with you, with additional add-on modules available for those businesses with more complex requirements. It is also easy to start new entities on AccountsIQ as your business grows. Our case study with StitcherAds is a great example of AccountsIQ’s suitability for growing companies.

How do I know if AccountsIQ is right for me?

If you’ve outgrown other starter cloud systems such as Quickbooks, Xero, Big Red Cloud and many of the Sage products, or are looking to move from on-premise accounting software on to a scalable cloud product, and are looking for accounting software that is ideal for multi-company accounting, then in all likelihood, AccountsIQ is right for you. Take a look at our core financial features to see if it has the functionality you require.

How do I know AccountsIQ is any good?

AccountsIQ is an award-winning, market leading cloud accounting platform as voted by our users (Winner of Mid-Market & Enterprise Accounting Software of the Year 2019 & 2018 at the Software Excellence Award)s. Our software is accredited by the Institute of Chartered Accountants in England and Wales (ICAEW). We also have a consistent 4.85/5 star rating average on SoftwareAdvice as rated by software users.

My business is extremely complex; we operate globally and have multiple subsidiaries. Can your software handle that?

Our largest clients consolidate over 250+ entities and work in over 42 countries using 32 currencies. AccountsIQ provides enterprise level functionality and solves clients’ complex reporting, multicurrency and multi-entity consolidation problems. You can see how different organisations use our software by viewing our range of case studies.

What is the key advantage of using AccountsIQ?

Although there are many accounting packages available, very few are specifically designed for multi-company accounting. Very few are aimed at the mid-market and are relatively inexpensive and quick to implement such as AccountsIQ. AccountsIQ is a cloud-based accounting system and so there is no need to buy and maintain software, you simply log on whenever and wherever you like. This means no more worrying about system crashes or backups, and no more time-lag between the client and their accountant. Monthly processes are completed faster, IT support costs are reduced, and there is no need to purchase servers or IT infrastructure specifically for managing your financial back-office.