The IQ SuiteSimple routing rule: keep books with IQ Books, match data with ReconcileIQ, code data with CodeIQ, analyse data with LedgerIQ, and prepare year-end working papers with PrepIQ.
Comparison Table
| Criterion | IQ Books | ReconcileIQ | CodeIQ | LedgerIQ | PrepIQ |
|---|---|---|---|---|---|
| Primary job | Keep client books current in an AI accounting platform | Match bank and book records; surface discrepancies | Categorise, classify VAT, review and post transactions | Analyse general ledger data and create reports | Prepare year-end working papers for review |
| Best input | Client records, bank data, invoices, bills and accounting setup | Bank statement plus accounting export | Bank statement, platform bank data, invoices and chart of accounts | General ledger export (transaction-level) | Client records, GL export and supporting year-end evidence |
| Best output | Up-to-date books, VAT-ready records and reviewable ledger | Matched/unmatched items and reconciliation report | Coded, reviewed and posted bookkeeping transactions | Dashboards, ratios, trends, forecasts and exports | Working papers, schedules, reconciliations and review flags |
| Buying trigger | "Stop doing client bookkeeping by hand" | "Find why my bank does not agree to my books" | "Stop manually coding transactions" | "Explain what the numbers mean" | "Prepare the year-end file faster" |
| Best buyer | Accountants, bookkeepers, practices and owner-managed businesses | Bookkeeper, accountant, small business, ecommerce seller | Accountant, bookkeeper, practice, high-volume business | Advisory practice, finance team, owner-manager, accountant | Accountants and practices preparing sole trader or company year-end files |
| Not for | Payroll, inventory or statutory filing features not represented in the public product pages | Primary bookkeeping or ledger ownership | Replacing the core accounting ledger | Fixing uncategorised source transactions before analysis | Unreviewed filing, audit opinion or tax judgement without accountant sign-off |
Recommended Workflow
1. IQ Books or CodeIQ
Use IQ Books when the books live in the suite, or CodeIQ when raw bank transactions need coding and posting to an external platform.
2. ReconcileIQ
Use after records exist in the books to verify the bank statement agrees and investigate exceptions.
3. LedgerIQ
Use after the books are coded and reconciled to produce analysis, ratios, trends and reports.
4. PrepIQ
Use at year end to prepare working papers, schedules and review points from the finished records.
How the plans fit
IQ Books is the accounting platform: it holds the ledger, keeps the bank coded, sorts VAT and gives each client a workspace. ReconcileIQ handles reconciliation: matching statements against records, finding missing or extra transactions and resolving discrepancies. CodeIQ handles coding: categorisation, VAT treatment, transfer detection, invoice matching and posting back to an existing platform. LedgerIQ handles analysis of a general ledger export: statements, ratios, trends, forecasts, anomalies and board packs. PrepIQ handles year-end preparation: accounts preparation, extended trial balance, fixed assets, capital allowances and tax computation support.