The intricacies of group finance means significant effort translating multiple sets of subsidiary accounts into a common consolidated view. The cost of sophisticated, enterprise-grade solutions steers many SMEs to spreadsheets to collate data and perform complex aggregations, transformations and calculations. AccountsIQ sweeps away the need to rely on error-prone and difficult to audit spreadsheets with automated accounting software right across your group.
Control of subsidiary activity is a challenge, with diverse entities operating in different jurisdictions with local statutory obligations and group governance rules to navigate. AccountsIQ lets you maintain disparate local GL codes that map to common group-wide GL categories and sub-categories. Performance reporting at subsidiary branch, division or department level can also be consolidated, giving you monitoring insight into subsidiary activities.
Growing organisations making acquisitions or setting up new operations overseas introduces many new accounting challenges, including multi-currency. AccountsIQ allows maintenance of exchange rates centrally, so you can monitor exposure to currency fluctuations and remotely update period and spot rates. 1-click consolidation converts local base currencies to group-level base currency, so you can focus on the accounting not the arithmetic.
So much of your time is likely spent organising the collation, evaluation, correction and normalisation of subsidiary accounting records. Once you've configured AccountsIQ you'll have a single click to bring all subsidiary data into your consolidated entity. If you have groups within groups, one click for each of those is all it takes. Join other AccountsIQ customers who are saving days every month on their consolidated accounts production and spend more time on higher value strategic tasks for the business.