Nigel Harris recently published a comprehensive independent review of accountsIQ on accountingweb.co.uk*. 

The review can be accessed here. [Note that you must first register as a user (for free) to read the review.]

We're delighted with Nigel's review as it's spot on in terms of articulating the strengths and market positioning of accountsIQ relative to the competition: 

"AccountsIQ is a perfect solution for a larger company, especially one needing the full stock and SOP/POP which is lacking in most other online accounting solutions. The consolidation feature will be very attractive to groups and franchisors looking for a cost-effective accounting package that can be easily rolled out across multiple sites, even across borders and currencies, without the need to invest in Citrix or Terminal Services technologies and the additional IT overheads they involve. 

Accountants considering recommending AccountsIQ to clients will be reassured by the strong built-in controls over VAT reporting and general data integrity."

For the last four years we've focussed on building a robust product that's suitable for larger SMEs especially ones needing full stock control, SOP/POP and sales commissions management. Because of their complexity these features are often weak or lacking in other competing online offerings (Read More). 

More recently we've been building a unique data consolidation function for group companies and franchises wishing implement both a cost effective accounting solution across their group that enables period end data consolidated accounts to be produced.

Consolidation Features include:

• Month end currency revaluations at subsidiary level - ie: unrealised FX gains/losses. This is necessary if proper elimination of inter-company balances is to occur on consolidations
• Centralised management of currency exchange rate tables to be applied across the group, including both average monthly rates (for posting transactions and P&L consolidations) and period end rates (for revaluations and Balance Sheet consolidations).
• Automation of inter-company charges (ie: Sales Invoice raised against Inter-company account auto posted as a Purchase invoice in the receiving subsidiary). Purchase Invoices will go into the database as “registered” to be posted by a local user after appropriate GL coding is applied
• Handling of non-100% subsidiaries - calculation of minority interests and posting of relevant journals at consolidation level
• Ability to consolidate sub-groups - ie: where the consolidated entity becomes a subsidiary of a bigger group consolidation
• Report of inter-company transactions to calculate inter-company profits as a basis for posting profit elimination journals

(Read More).

In terms of usability, Nigel also highlights the important fact that accountsIQ has been designed along the lines of desktop software rather than browser-based. Our thinking here is to lessen the learning curve for users of desktop applications and to ensure that the data entry processes are as quick and responsive as possible using the keyboard. 

Contact our sales team to find out more or register for a free 30 day trial here. 

*www.accountingweb.co.uk is the largest independent online community for accounting and finance professionals in the UK.