AccountsIQ is a web-based accounting and business solution that has been designed specifically for multi-entity accounting. It is ideally suited for geographically dispersed entities, enabling them to carry out their accounting and business processes via a standard Internet connection. This eliminates the need for expensive IT infrastructure or duplication of effort in re-keying and posting summary information into a common central system.
Overview of AccountsIQ Multiple Location Accounting Software
Some large enterprises are made up of individual subsidiaries, branches or depots that in themselves are small businesses. In many cases, accounting systems targeted at large-scale enterprises are simply overkill for these individual entities. Such systems can involve significant upfront investment and implementation effort, imposing processes that are ill-suited to smaller operations. AccountsIQ provides a full suite of accounting and commercial functionality to suit most small and medium-sized businesses. It has been specifically designed to handle multi-location and multi-entity businesses co-existing on a common -platform, with the ability to control access based on user roles, providing management with anytime-anywhere access to the latest accounting records and documents, facilitating the monitoring of individual entities performance, as well as the overall consolidated position of the group.
Whilst separate databases are maintained for each entity, AccountsIQ has the ability to consolidate all entity information to review group activity and results, allowing benchmarking across the group and the production of extensive consolidated accounts and views. Powerful reporting and business intelligence capabilities enable both financial and non-financial. Key Performance Indicators (KPIs) and graphs to be produced, as well as normal accounting reports at entity level and group level. These are provided through financial management dashboards tailored to the specific reporting requirements of the group and its entities.
Multi-Location Accounting Software Features
- Full multi-currency accounting and multi-jurisdiction sales tax reporting.
- Consolidated group accounts including inter-company accounts and automation of inter-company transactions.
- Consolidated views of group activity and indebtedness with customers and suppliers.
- Dynamic multi-location stock control and movement between locations with central management of product files and pricing, including intra-group transfer pricing.
- Fulfilment of orders from any location, regardless of where originated. Automatic creation of inter-entity orders eliminating duplication or rekeying.
- Access controlled from head office to all entities based on defined user roles, including tracking of access to each entity for shared services monitoring and recharging.
- Powerful Business Intelligence capability to monitor group performance via management dashboards. Allows benchmarking of activity and results across the group.
Benefits of Multi-Location Accounting Software
- Integrated Document Management allows business documents such as invoices, orders, contracts etc to be attached to entity accounts, products, transactions or defined folders.
- Open architecture allows easy integration via Web Services with other group front office or operational applications, either online or on-premise.
- Ability for smaller subsidiaries of a large group to implement a simpler more cost effective system, which integrates into a group system for consolidated group reporting.
- Fully managed SAS 70 Type II compliant hosted platform provides simultaneous availability via the Internet for any entity or group user with easy roll out to new entities.
- Extensive user-definable analysis codes with up to 6 distinct analysis groups to track results by location, business line, project, job, manager, cost centre etc.
- User-defined non-financial statistics and KPIs enabling a holistic approach to management reporting and tracking of results across all aspects of the business.
- Automated overhead allocation based on non-financial statistics or measures.
- Intercompany noticeboard for instant communication, updates and sharing of relevant information, including attachments, at user, role, entity or group level.
For multi-location companies, AccountsIQ can save time, improve efficiency and offer detailed financial analytics: get insights into group performance or KPIs on individual subsidiaries. Monthly currency revaluations make trading in multiple currencies simple.
AccountsIQ has added VAT functionality to comply with Making Tax Digital. This functionality allows AccountsIQ users to submit consolidated group VAT returns.