What are APIs in accounting and why should accountants care?

Implementing a new accounting system is no small task. But with the right planning, leadership and project timeline, you can ensure a smooth switch from your old system—and set your finance team up for long-term success.

The right system won’t just replace what you already have; it can transform your finance function, delivering new levels of efficiency, accuracy and strategic insight. 

At AccountsIQ, we’ve been supporting finance system implementations since 2008. Built by accountants, for accountants - we know what works. Here are some practical lessons from helping hundreds of clients roll out new accounting systems with confidence.

Take your time to plan your new accounting system implementation

There’s a reason people say success is 80% planning and 20% execution. That’s especially true when switching accounting systems. Investing time upfront will save time, money and stress down the line.

Here’s how to approach your planning:

• Appoint a dedicated Project Lead. Choose someone who knows your processes well and has the authority to engage the wider business. They’ll play a key role in coordinating the implementation internally.
  
  
• Do your pre-sale research. Make sure your technical and functional requirements are clearly documented—and validated against the solution you're moving to.
  
  
• Identify key stakeholders early. It’s not just a finance project. Involve other departments—like sales and procurement—from the start. Early buy-in helps prevent roadblocks later.
  
  
• Engage with your onboarding consultant. We’ll work with you during the design stage to confirm your Chart of Accounts, BI codes, user profiles and group consolidation needs. Clear alignment here sets the foundation for the rest of the build.
  
  

6 things to prepare before you begin the new FMS implementation 

Getting ahead of documentation and prep work will ensure your implementation stays on track and within budget. The more accurate and complete your data is at the start, the faster you’ll benefit from your new system.

Here’s what to prepare:

• Chart of Accounts structure
  
  
• Subsidiary structure and hierarchy
  
  
• Tax and compliance requirements
  
  
• User roles and access rights
  
  
• Data clean-up (eliminate duplicates, ensure consistency)
  
  
• Data migration plans
  
  

Tips for a successful implementation

At AccountsIQ, we support you beyond go-live. Our team is on hand to answer questions, provide post-implementation support, and run training to help your team get the most out of the software. We also help connect your new accounting system to payroll, HR and other business systems through our growing and custom range of integrations.

Start with your reporting requirements

One of the most valuable steps is to review your reporting needs and structure your Chart of Accounts and BI dimensions accordingly.

We recommend starting with your desired outputs—what do you want to report on? Then work backwards to design the right setup. AccountsIQ’s BI engine supports up to six dimensions, but you don’t need to start with all six. Begin with two or three (e.g. departments, locations), get used to the system and consider expanding your setup in later phases.

Choose your timing

Implementation requires internal focus. Choose a time when your team can fully engage with the process. Ideal windows include:

• Year-end – useful for audit alignment, but not essential
  
  
• End of a VAT period – can reduce the volume of data to migrate
  
  
• A quieter time operationally – allowing more team capacity for project work
  
  

Import what you need and avoid parallel systems

We advise against bringing across historic transactional data. Instead, start fresh with an opening trial balance and upload monthly movements for comparison purposes. This avoids unnecessary complexity and removes the need to run dual systems. Our templates make it easy to import what matters for continuity.

Give your project lead time and scope to do this well

Your project lead needs dedicated time to focus. Trying to manage an implementation alongside a full-time role often leads to delays. Make sure your lead—and other stakeholders—have the space and support to prioritise the implementation at each phase.

Implement in phases and celebrate successes

For most businesses, implementing a new accounting system is part of a wider digital transformation. With AccountsIQ’s flexible modules and integrations, it’s tempting to tackle everything at once—but don’t.

Adopt a phased approach. Get your core financials in place, celebrate the win, then move onto other features. This keeps momentum high and avoids overwhelm.

For example, Hampshire Cultural Trust adopted a phased approach. Core financials were implemented in phase one, followed by ticketing, EPOS, and payroll in phase two.

“We’ve got a fantastic product and the implementation team has been very good, particularly with our management accounting project. My mantra is ‘making finance valued and valuable’. With AccountsIQ, and a great team at HCT, we are making that happen.”
– Charlie Inigo-Jones, Director of Finance, HCT

Don’t build your new system around old processes

One of the biggest missed opportunities in a finance system upgrade is replicating outdated processes. A modern cloud system like AccountsIQ is designed to streamline and automate—not just replicate.

Take this opportunity to reimagine how you work. Automations, integrations and real-time data reporting can eliminate manual tasks and empower your team to work more strategically.

“We realised we had come to develop our processes around the limitations of the Exchequer system rather than using the system to improve processes.”
– Group Financial Controller, Kefron

Finance system implementation project plan

Below is an overview of a typical finance system implementation plan. Each stage builds on the last—which is why design and planning are critical. You’ll also notice that we don’t jump into advanced features until the foundational work is done.

Once the core financials are embedded and your team is confident, you can build out from there.

We can often go live with core financials in as little as four weeks—with the right preparation. Charity Artichoke Trust migrated from Sage Financials to AccountsIQ in just two days, even with their bespoke project accounting needs.

“The elements that have really made a difference are AccountsIQ’s innovative implementation of analysis codes, the attaching invoices, and the bank reconciliation module. These are things I didn’t have before, and they work beautifully.”
– Neil Goulder, Finance Director, Artichoke Trust

Common issues with implementing a new accounting system

Here are some common roadblocks—and how to avoid them:

• Lack of clarity. Be clear on your goals and define what success looks like from the outset.
  
  
• Lack of authority. Your project lead should have the confidence and backing to make decisions and drive progress.
  
  
• Scope creep. Keep the first phase achievable. Deliver value early, then build from there.
  
  
• Distractions. Choose a time when your business can dedicate focus to the project.
  
  
• Time. Don’t underestimate how long implementation and training take. Give your team the time they need to embed the new way of working.
  
  

A new accounting system implementation can feel daunting. But with the right preparation, it’s entirely achievable—and often transformative. At AccountsIQ, we’re proud to have helped over 35,000+ users across 85+ countries. We’re here to guide you every step of the way. Book a demo today!

‍