Recent austerity measures have put the Public Sector under pressure to do more for less. External pressure to see more accountability and value for money, coupled with advancements in Cloud technologies, give Public Finance Accountants the chance to solve an age-old problem; finding an advanced, compliant and insightful accounting system for a fraction of existing costs.
AccountsIQ’s cloud-based, advanced public sector accounting software supports the code of practice set by CIPFA while allowing Public Finance Accountants the opportunity to benefit from everything Cloud software offers in terms of reduced costs, greater efficiency, automated processes, integrated systems and real-time reporting.
Our flexible system architecture allows you to implement a reporting structure which centres on cost control. In addition to flexible coding structures for complex cost analysis, AccountsIQ includes an automated approval process which allows budget holders to see actual spend, including existing commitments, before signing off further expenditure.
All this for one low monthly subscription fee; no mounting implementation costs, no more maintenance overheads, no more costly upgrades.
In 2015 the Trust needed to set up its own accounting system very quickly. Under my predecessor, it simply took AccountsIQ out of the box, imported the general ledger and cost centres from the Council’s system, and started to process its own transactions. That was it! We have since set up monthly accounts reconciliation and reporting processes, and are now beginning to explore the software’s full potential using multi-dimensional coding to meet our reporting needs.