We are delighted to announce that we are continuing to deliver more advanced functions for our users that will save significant amounts of time. We’ve just released a completely new Budget Uploading facility to provide an improved experience when maintaining and viewing budgets. To make the month end management and reversal of accruals easier we’ve introduced a smart new Cost Accruals function. We’ve also added some other great productivity and reporting features, all of which have been requested by our user community.
Read below a snapshot of the new features and view the full Product Update for full details.
New to use now:
Mobile Expenses App
The AccountsIQ Mobile Expenses App is a handy productivity tool that’s designed to automate employee expense claims capture and purchase approval processes within your company. It’s one of the top features requested by our customers. The app is seamlessly integrated with the main AccountsIQ Finance system and can deliver real efficiency gains to your business. We’ve launched versions for iOS (via AppStore) and Android devices (via Google Play).
Watch our video to see how easy it is to integrate with your existing system:
This new feature enables users to spread cost accrual journals over multiple periods in one go, so that un-invoiced expenses or revenues can be recognised in those periods in the P&L.
We’ve also introduced a handy new way for users to review (for a period) what accruals are now due for reversal, and to identify and match invoices against those accruals to allow them to be reversed.
This will eliminate the manual exercise of matching posted invoices to accruals and working out which accruals can be reversed at period end.
Enhanced Budget Management
You can now upload and maintain your budgets in the system far easier with the new Budget Import function. The new screen provides a button to download a Budget Template in Excel which you can use to populate your budget values against GL and/or BI codes for a given financial year. You can also choose to pre-populate this template with the existing budget or actual values as a basis for the budgets. Once the budget data has been imported successfully, it will be available immediately within related system screens and budget reporting.
New Period View of GL Account Actual & Budget Balances
We’ve added new facilities to the General Ledger Account listing screen to enable you to view GL Account Period Actual, To Date Actuals and Budget Balances on screen for a selected period. It’s now also possible to drill down on a selected GL Account’s Period Actual or To Date Actual values to view all transactions making up those balances.
Consolidated AP & AR Ageing Reports
We’ve recently added a new report into the Report Manager within Consolidation entities that gives users a Consolidated view of Aged AP & AR accounts. The report can be used to view debtor or creditor accounts across all subsidiaries in a group from the top group entity down through all consolidation levels.
Other Recent Product Updates
New RBS Bankline Payments File Format
We’ve introduced a new ‘RBS Bankline Ad-hoc Bulk Payment’ payment file format. This can be assigned to a bank account in the system if you wish to generate an online payments file format using the Supplier Batch Payments functionality.
Share Large Files with your Colleagues using the Internal System Noticeboard
Should you have the need to securely share a large file download with one of your work
colleagues, the system ‘Noticeboard’ is a useful alternative to emailing or sharing the file outside the system.
Save Money on Foreign Exchange Transfers with TransferMate
Our new API integration with the TransferMate Payments service will facilitate our clients carrying out payments to foreign suppliers at really cost effective rates. This integration will be delivered as part of AccountsIQ’s Supplier Batch Payments functionality and will enable users to send a batch of foreign currency supplier payment requests to TransferMate for approval and then final payment processing.
This integration could save your business a lot of money when carrying out foreign exchange transfers, get in touch for more info.
Two Factor Authentication to Make Your Login Even More Secure
This will enable all users to better secure their user login by registering their mobile device with
AccountsIQ so that it can be enabled as a second factor when logging into the system.
Download the full September 2019 Product Update