Overcome the NFP sector’s unique challenges and streamline the way your accounting team, fundraisers and volunteers work. AccountsIQ allows you to achieve transparency, consistency and SORP compliance with slick, digital processes and low cost of ownership.
Gain full transparency with detailed expenses tracking, linked to funds and easily segregate income streams. Work with our platform experts to create your unique, multi-dimensional coding framework and set up the exact reporting you need.
Swap costly upgrades, expensive hardware and heavy implementation costs for one single affordable monthly subscription. Built in the cloud, AccountsIQ integrates seamlessly with other apps, allowing you to streamline processes, reduce errors and save time.
Transform the way you work with AccountsIQ’s automated processes. Spend more time on strategic work and less on repetitive administrative tasks. Go digital with approvals, expenses, bank feeds, reconciliation, document storage, FX, consolidation and more.
This multi-dimensional reporting is perfect for our setting. It has revolutionised our potential to do our job here in the centre. That is to stand over these charitable funds and know exactly what’s going on with the funds of each charity.
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What advice would an historic City of London Livery Company give to finance teams looking to implement new accounting software? The best: it’s all about planning ahead and design thinking.
When Dan Garrigan, Finance Director with Merchant Taylors’ Company, decided it was time to upgrade from Sage 200, he knew their new finance system had to be in the Cloud.
"Sage 200 was coming to its end-of-life and the reporting was clunky. If we were going to change finance system we definitely wanted it to be Cloud-based, rather than incurring server costs."
Dan undertook a broad search of the accounting software marketplace. He looked at both large ERP systems, such as NetSuite and Sage Intacct, and smaller out-of-the-box software, such as Xero.
"We fell between two stalls. Our finance needs are more complex than the functionality we found in the out-of-the-box systems, like Xero. But it was hard to justify the cost of something like Netsuite."
After joining a couple of AccountsIQ’s webinars and demos, Dan thought: ‘that ticks all the boxes’.
Dan and his team found switching to AccountsIQ painless. Here’s his advice if you’re thinking of embarking on a similar project:
Dan’s team thought ahead about the design of their Chart of Accounts. They then refined this with the AccountsIQ team who shared their experience of what had worked with other customers. As Dan says:
“The design of your Chart of Accounts is the big thing to get right. Everything else then follows. The time spent on this really paid off for us. We’ve got a design we’re happy with and meets all our needs.”
Watch our ‘How healthy is your Chart of Accounts?’ webinar.
The ideas you have at the start of your project might not carry through to implementation. That’s not a problem. As Dan explains:
With AccountsIQ, you get Sandbox test entities. This is great because you can play around with the software before you go-live and see what things look like and how it all works.
Dan strongly recommends training your team, both in the run up to implementation and in the first two months post go-live. As he says:
"AccountsIQ are extremely good at this. We used the AIQ Academy and we had bespoke online training sessions with Daryl. They were all invaluable. We’ve kept the recordings and the team refer back when they need a refresher on features they don’t use regularly."
AccountsIQ’s charity accounting software is trusted by over 100 charity and not-for-profit finance teams. You can read their stories here.
To find out more talk to one of our accounting experts.
AccountsIQ helps global charity, Lepra gain rapid multi-dimensional reporting and reduce processing time by 80% by moving to the Cloud.
Lepra are a charity leading the global fight for the eradication of Leprosy. Each day over 600 people worldwide are either diagnosed with Leprosy or are starting treatment for Leprosy. More than 8% of these are children.
Based in the UK but supporting operations on a global level, like many charities, Lepra have complex revenue generation. Their revenue comes from various sources and must be consolidated into one system for accounting and compliance purposes. Recognising the need for a cloud solution which can automate their manual processes and consolidate their revenue, the Lepra team engaged ION, a financial transformation specialist, to help find the right solution for them. The support ION offer enables a point of contact for the finance team should any issues arise – whether they are knowledge or training issues, or problems in simple transacting to complex reporting.
Lepra’s current accounting system was not giving them the reporting breakdown that they needed, meaning it was taking too long to pull together information which advised critical business decisions. In addition, the need to manage all their revenue in one place and have access to real-time data would not only save time but also give everyone in the team more access to information.
Like many businesses, Lepra’s current system was not well connected to their CRM system, Advantage, and this meant a lot of manual processing was needed to align the two systems. As with a lot of manual processes, this was time consuming, allowed for human error and often meant the process wasn’t followed exactly as required. Through the discovery phase, their implementation partner, ION, identified a lot of functionality and improvements that Lepra wanted to implement in the future, therefore the need to have a system which could be flexible and grow with the charity was important.
The final major requirement for the team was that the implementation could be quick and seamless. With a lot of disruption to the business already and with many team members working from home, they needed a solution which could be quick and easy to get everyone on board with.
Taking all these things into consideration, AccountsIQ was identified as a good solution for Lepra. A flexible and user-friendly cloud accounting solution, AccountsIQ could address all of their requirements and open up many other benefits.
Nick Avery, Director of Resources, Lepra
“AccountsIQ was the only solution we found that combined the ease of use of cloud based accounting systems and the multi-dimensional analysis that is needed for charity accounting at a cost that we liked!” Nick Avery, Director of Resources, Lepra.
A concern for the team was the time it takes to switch over to a new system and how this would disrupt their processes. However with ION’s quick start implementation framework and our user-friendly interface, the transition was managed with ease. The implementation was completed in a matter of weeks, and the transfer of data to AccountsIQ was seamless.
Like many clients, within weeks, Lepra were finding many benefits to operating within a new system. The ease of use of AccountsIQ has made the adoption across the Lepra team much easier, meaning they can see the benefits of the system straight away. Several key areas have been improved:
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