All cloud accounting software is not equal. Legacy products were not designed to exploit the power of the internet, so the costs of using the functionality they've acquired over time are significant. Cloud accounting software can help you minimise costs as you grow and give you an improved level of support. Our software is cloud-based with unrestricted data storage and a wider range of processing features. There are no legacy cost burdens to bear and no fair usage restrictions in our cloud accounting software.
Your accounting software must reflect your changing business and not limit your options. For example, when you need a ledger system that supports new subsidiaries or acquisitions. New reporting demands may require you to amend your chart of accounts, re-design your summary categories and introduce more analysis dimensions. AccountsIQ offers a user-defined and amendable 3-level GL structure plus six (not two) extended analysis dimensions to give you a holistic view of your business.
Many cloud accounting software offerings are geared to single entity organisations. AccountsIQ has been designed from the outset to handle multiple entities as smoothly as possible. When you scale-up domestically and grow internationally your need to account for additional entities can quickly get out of hand. With your existing accounting software you are faced with multiple add-ons or complex extracts to Excel or Google Sheets. AccountsIQ lets you consolidate and perform inter-company recharging online including full GL, sales, purchase and analyses. Throw in, multi-currency and coding structures, managed at group level and these new headaches disappear with AccountsIQ.
During periods of rapid growth and upheaval, you'll find the need to adjust historical records incredibly helpful. With legacy systems there are limited ways to lock out users from certain periods or re-open earlier periods. With smarter systems like AccountsIQ, this is simple. It's a transaction-based system with full period management that includes FX revaluation for both month and year end. Significantly AccountsIQ lets you keep periods and years critical to a prior year open and still allows your finance function to move forward to your new reporting year.