ReconcileIQ - Complete Feature Matrix

Core Ledger & Double-Entry

• True double-entry; voids/deletes reverse the journal, never erase
• Manual journal composer (live Dr/Cr balance meter)
• Bring in a pay run: the payroll software's export (CSV/Excel, a row per employee) matched, added up and posted as one journal on the payroll accounts; columns remembered per payroll software; checks gross less deductions equals net; never the same run twice; post_payroll for RiQ and the connector
• Journals that reverse themselves: Reverse on (default the 1st of next month) posts the mirror on that date, or the first open day if locked; change or take off while waiting; no VAT; the connector and RiQ can set it
• Chart of accounts (roles, code ranges, default VAT, archive/restore)
• Entity CoA profiles: Ltd / sole trader / partnership / property / charity
• General ledger view: server-paginated, filtered, drill-down from every report
• Opening balances workspace; Upload a trial balance (CSV/Excel, accounts matched by code, name and the usual control-account names, must balance, fills the form to check and commit)
• Year-end close (closing journal to Retained Earnings)
• Year-end checklist before closing, worked out from the books: Review empty, prepayments, accruals and depreciation posted, register ties, stock, draft invoices and bills, future-dated entries, VAT on purchases, opening position, suspense; each links to where it is fixed; warns, never blocks; RiQ raises it from 30 days before the year end
• Period lock: no JE dated on/before lock after close
• Immutable-once-posted (paid invoices, depreciated assets)
• Accrual or cash basis (org-level)
• Append-only audit log (~30 entity types); VAT and Income Tax submissions recorded
• Audit alerts: supplier or employee payment details changed (with a phone push to owners and admins), books unlocked (by hand, opening balances deleted or a migration undone), members invited/joined/left/removed/role changed, support view-only access, posted items voided or deleted (one notice per kind, person and day), large manual journals; for owners, admins and bookkeepers, cleared only by an owner or admin in the app
• Unusual in the books: notices from LedgerIQ's anomaly checks (one per kind, medium risk and above, with a recent example) and from per-account and per-payee baselines (a cost twice its usual month, a first payment to a payee over a set size, a regular payee paid far more than usual), each linking to its journals

Multi-Currency / FX

• ~160 ISO currencies, per-document currency (Xero-style)
• Exchange-rate workspace (fetch-latest or manual)
• Auto FX gain/loss on settlement; cross-currency invoice settle
• Period-end revaluation (preview + confirm)
• RiQ proposes each month end's revaluation from the 2nd (carried forward; ask first or post by itself); closing rates must be dated within 5 days of the month end, else the market rate for the day

Banking & Cashbook

• Per-bank cashbook (running balance, native + base currency)
• Live bank feeds (see the feeds block) alongside CSV import
• Add transaction (receipt/payment) with invoice/bill allocation
• CSV import → auto column mapping → draft transactions
• Review drafts: bulk coding, VAT, bill/invoice-payment mode
• Bank rules (auto-categorisation)
• Reconciliations kept with the books per bank and statement date (history on the Reconcile tab; every statement run saved and re-saved as it is fixed, accepted matches restored; reconciled only when every line matches and the closing balance agrees, typed in when the file has no balance column); feed banks reconcile themselves at each month end once the feed's balance for the day has settled (late-arriving lines waited for) and agrees with the books with nothing waiting in Review, ticking that month's lines; otherwise RiQ says what stands between them; transfers count on each bank's own date; a reconciled month that later changes is flagged; statement ticks can be taken off from the cashbook
• RiQ spots a bank line coded unlike the rest of that merchant's postings (the books' own history, five times or more to one account) and proposes moving it; always asks
• Transfer detection + savings-pot awareness
• Split transactions (one row, many legs): jsonb legs, VAT per leg
• Credit notes: an allocation can be taken off again from the document (posts nothing; also the undo for one RiQ made)
• Money counted once: a bank line that is a receipt, supplier payment, expenses reimbursement or whole payment run already recorded is matched to it (Match / choose which / It is separate money); a line coded to income for exactly what an open invoice owes asks Record payment / It is new income. Every confirm path asks: single, bulk, feeds, imports, CodeIQ posting, mobile, RiQ, MCP

Bank & Channel Feeds Sep 2026

• Open banking feeds via BankSync: four-step connect wizard, Feed tab per bank, health chip against the bank balance
• One connection can carry many banks; named by every bank on it, per-bank disconnect (consent is per bank, not per account)
• Reconnect / re-share detection: an account the bank stopped sharing stops looking connected
• Coded on arrival by CodeIQ (4 credits a line, monthly cap per connection)
• Auto-post envelope: off / 90% / 95%, never posts the backlog, refuses transfers, invoice matches, splits, reverse-charge/PVA/DRC VAT and future dates; every refusal keeps a reason
• Waiting panel: holds with a stated reason, 7-day hold on an unpaired transfer leg
• Transfer detection from the org's own history: learns a payout narrative whose reference changes every time
• CSV overlap guard so a statement upload never twins a fed line
• Pull-from date; hourly resolver; daily poll; opt-in daily digest (off by default)
• Feed lines carry entry_route bank_feed and a source reference, so provenance survives

Channel Feeds Sep 2026

• Stripe: the balance read as a bank account with a merchant-supplied restricted key; a charge lands as two lines; conversion rows named
• PayPal: connected through the same open banking wizard, no separate integration
• eBay: direct seller consent (Finances API, RFC 9421 signed); payouts post as settlement journals at 50 credits a payout; VAT in the right period
• 22 mapped buckets including ten fee types; postage split three ways by VAT treatment (universal service exempt, tracked/courier standard)
• Funds on hold booked to Other Debtors, not a cost
• Marketplace account-deletion endpoint (eBay compliance)
• Cross-currency transfer pairs book at their own stated rate

MatchIQ Built In native

• Reconcile tab on every bank: statement CSV vs posted ledger
• One-click, double-entry-safe fixes (every fix reverses a JE)
• Missing→draft; duplicate→remove keep receipt; drift→accept; mismatch→replace
• Source-aware deletes (receipt→invoice unpaid, payment→bill unpaid)
• Configurable date tolerance (0–7d); reconciliation report

Sales & Invoicing

• Customers cockpit: outstanding, overdue, ageing strip, coding defaults
• Quotes (accept/decline/expire/convert to invoice); accepted online on the quote page with a typed name (time, IP kept), becoming a draft invoice; quote reminders 3 days before expiry and on the day
• Sales invoices, credit notes; per-doc currency; project tags
• Refunds out of a credit note or money on account (Dr Debtors / Cr Bank), from the record or a Review bank line; matched when the bank line arrives; cash-accounting VAT on the refund date; realised FX
• Bad debt write-off with VAT bad debt relief (box 4, six months and a day past due; written off sooner, the VAT is claimed when due; plain where relief does not apply); each later receipt reverses its share and re-declares the VAT; RiQ suggests overdue debts and due relief
• Deposit requests; sent/opened tracking; hosted branded pay page
• Stripe payment link + bank-transfer fallback; scan-to-pay QR
• Customer receipts; allocate on-account; statements with what is unpaid and an ageing line, PDF attached; monthly statements to customers with an overdue balance on the first working day (opt-in, per-customer opt-out)
• Recurring invoices (the same day each month or every N days; issue, or draft only) + customer subscriptions (auto-collect); repeat invoices drafted from a customer's last three months; customer purchase orders (emailed or added to Documents) become draft invoices at your own VAT, never drafted twice; new lines coded as the customer's last two invoices
• Payment reminders / dunning gated: catch-up for missed days, link to the invoice page, customer stop link, copy to you; one combined reminder per customer timed by their usual lateness
• Credit control: credit limit, on stop, don't chase; issuing over the limit or on stop asks first (agents refused without an override; recurring holds); chase list with the next step
• Statutory late payment interest and compensation (Late Payment Act; Bank of England reference rate fetched each half-year), drafted for you

Invoice Templates & Branding

• Single renderer drives print / PDF / email / pay page
• 7 template families × 8 accent colours × 2 papers
• Org design + per-document override
• Logo Studio: in-app wordmark designer (not just upload)

Purchases

• Suppliers cockpit (mirror of customers)
• Bills + credit notes, their-reference, allocations
• Refunds from suppliers out of a supplier credit note or a payment on account (Dr Bank / Cr Creditors)
• Documents inbox (bills, receipts, credit notes, sales invoices, CIS statements): read by RiQ for 10 credits, every line linked, filed with the original attached (see Documents below)
• Draft bill lines keep their purchase order line links when edited

Stock & Fixed Assets

• Native perpetual inventory: tracked / service / untracked
• Moving-average or FIFO cost; valuation == GL by construction
• Movements ledger, stocktakes, stock reports; items on invoice/bill lines
• Stocktakes of everything, one supplier's products or a search; blind counts; scan box for handheld barcode scanners (and phone camera scanning); several people counting at once without overwriting each other; count sheet printed or CSV; counts uploaded by SKU or barcode; posting shows every difference at cost and anything that stops it first; drafts cancellable; RiQ reminds you to count for the year end and can start, record and post counts
• Product import from CSV or Excel: columns matched by name and changeable, update by SKU with every change previewed, opening stock with the valuation method asked when it would lock; barcodes on products; also through the connector
• Write-offs by reason (damaged, expired or obsolete, lost or stolen, samples, found) to a Stock write-offs cost of sales account, apart from what was sold; write-downs to what stock sells for (value only, FIFO layers included) that can be taken back while nothing has moved
• RiQ watches the stock: slow-moving products and the money tied up, products running out before more could arrive, margins dropping or below cost, and write-downs proposed where stock is held above what it sells for (thresholds yours to set)
• Fixed-asset register: straight-line / reducing-balance, salvage
• Auto monthly depreciation + catch-up; disposal JE; lock once depreciated
• RiQ finds fixed assets in spending: equipment, vehicles, furniture or machinery of GBP 1,000+ net on an overhead expense is capitalised (journal to the asset account + register entry); spend on an asset account with no register entry is added (depreciation catches up); life and method follow your own register; cost of sales, materials and regular trade suppliers never; the asset carries its own line's VAT; its bill cannot be voided while it is live

Month-End Schedules (Prepayments & Accruals) Aug 2026

• Prepayments released to expense monthly; deferred income released to revenue
• Auto-reversing accruals: month-end charge + day-one reversal (fresh typed journals)
• RiQ proposes month-end accruals for regular costs missing from the month just ended (three steady months before, nothing in it), as journals that reverse themselves on the 1st; when the bill comes in dated in the month, it offers to take the accrual out
• Found for you: a bank payment in Review offers Spread over 3/6/12/24 months; RiQ finds bill lines of GBP 500+ on prepayable costs paid ahead (wording, a renewal a year on, or 3x the supplier's usual) and proposes the schedule from the bill line
• Idempotent per-period log; period-lock catch-up collapse; hourly sweep
• Balance accounts (Prepayments 130 / Accruals 215 / Deferred Income) created on demand, or an existing account of the right type adopted where a custom chart already holds the concept
• PrepIQ year-end ingest: adjusting journals preview-and-confirm into the ledger; accrual journals post their day-one reversal; prepayment/deferred journals spawn the matching schedule
• Ingest is a review screen: account matches editable per line, journals skippable, duplicate suspects flagged against existing entries
• Year-end close refuses (409) while a linked PrepIQ job still has journals outside the ledger, since closing clears the working files
• Ingested adjustments carry a PIQ badge in the ledger list; schedule postings carry SCHED

Projects

• Projects with cost budget ceiling; line tagging
• Project P&L (revenue/expense/profit/budget/variance)
• RiQ says when a project's cost reaches 80% of its budget and again past it, and when a task's logged time passes its estimate; shown on the project; cost-rate notices only for those who see cost rates

Payroll Accounts journals only

• Org-level "this business runs payroll" toggle, off by default
• Inserts the curated control-account set by code (PAYE/NIC, Net Wages Control, Pension Liability, Wages and Salaries, Employer NI, Pension Contributions); re-enabling never duplicates
• Disabling hides them from the picker but leaves posted history resolvable
• This is the ledger side of payroll only, posting the bureau's journal. There is no payroll run, no RTI, no auto-enrolment. See Boundaries.

6 Optional Modules per-org toggles

• Payment runs: encrypted supplier bank vault, ISO 20022 pain.001 bank file, segregation-of-duties approval (and export), remittance emails
• RiQ drafts the payment run before pay day: bills due and overdue, most urgent first, held back where bank details are unverified, a CIS bill cannot be priced yet, or cash would fall below what you keep in the bank (checked against the 13-week cash forecast as the books stand, CIS to HMRC included); bills due later are added to the draft; you approve, export and post
• One bank debit for a whole payment run is matched to the run in Review, by itself from the feed when it is the only fit; every payment in the run then counts as matched
• Purchase orders: draft→authorise→bill, commitments, email PO
• Orders billed in parts (what is left, what has arrived, or chosen quantities); partly billed / billed worked out from the bills; close short and reopen
• Deliveries (goods received) recorded line by line, taken off without deleting; received / billed / left on every line
• Bills checked against their order on issue and on editing an issued bill: unit price (2% tolerance), quantity ordered, quantity received; accepted differences recorded on the bill
• RiQ links typed-in and scanned bills to the open order (product, description, or amount and quantity left; never an order raised after the bill) and flags draft bills that do not match; a link taken off is never put back
• One linking rule for every path: authorised or billed orders of the bill's supplier, same currency; part bills add up to the order line to the penny
• Foreign-currency orders rate themselves at the order date (your own rate, else the ECB reference rate) and say where the rate came from; a typed rate is kept
• Employee expenses: claims, mileage at HMRC AMAP rates (10,000-mile 25p split, later open claims re-priced), approvals, reimbursement batches (reuse payment-run rails)
• Expense policy: a receipt needed over an amount (blocks submitting until attached or a reason is given), limits per account flagged to the approver; the same receipt or spend on another claim or a bill flagged; RiQ lists claims to check for approvers
• Budgets: grid + variance, 6 formula fill modes, org/project scenarios, XLSX import/export; RiQ flags budget lines overspent this year (sales-flexed where the budget has sales)
• Time & billing: time entry, rates, WIP, project invoicing; a timer per person (top bar, split at midnight, asks after 10 hours); RiQ drafts each project's unbilled work into an invoice monthly or on completion (drafts only, editable, on the project's last income account and VAT treatment; per-project setting and minimum; projects billed by progress invoice left alone); WIP includes work on drafts, net of billing on account
• CIS: see Tax & Compliance
• Turning a module off never deletes posted work

VAT & MTD VAT

• Schemes: Standard / Cash accounting / Flat Rate (1% first-year)
• 9-box VAT return, drillable, PDF/Excel, history
• Before you file: the period's bank lines still in Review, drafts and documents dated in it, banks not reconciled, suspense, box ratios no UK rate makes, box 6 against revenue (cash accounting and the flat rate scheme allowed for); what changed against the period before and a year earlier; RiQ says so in the days before the deadline (warns, never blocks)
• VAT adjustment (balanced Box 1/4 correction)
• 10 VAT codes incl. reverse charge / PVA / DRC, clamped to account type
• MTD VAT filing to HMRC: OAuth, fraud-prevention headers, obligations, submit, receipt; HMRC production approved Sep 2026 (VAT and ITSA)
• Filing is FREE on every tier (Sep 2026): VAT returns and ITSA quarterly updates file from the free plan; a bank-only free ledger is refused on cash accounting and asks the user to confirm the basis on standard/flat rate

MTD ITSA

• Self-employment quarterly update (sole traders), free on every tier
• Year-end position prepared from the same books (in-year build; the final declaration is submitted with other MTD software or by an agent)
• Final-declaration surface is a paid feature and is refused server-side in production (outside the current HMRC approval)

Statutory Accounts + iXBRL

• 6-step stepper: setup→period→map→tag→review→file
• FRS 105 (micro) & FRS 102 Section 1A (small, filleted)
• Eligibility check vs thresholds; dormant flag; filing deadline
• iXBRL generation validated Arelle-clean against the FRC 2025 taxonomy (both frameworks), downloadable
• Companies House GovTalk submit/poll built and env-gated, and returns 503 until presenter credentials land; filing to Companies House is not live yet awaiting CH presenter ID

CIS (Construction) moat

• Contractor & subcontractor roles
• HMRC subcontractor verification (0/20/30%), one at a time or many together (up to 100 a message), answers matched back by UTR
• RiQ points out unverified subcontractors with bills waiting to be paid
• Labour/materials split; net-payment calc at allocation
• CIS300 return; Payment & Deduction Statements; CIS-suffered desk
• Domestic Reverse Charge auto-default

Reports (all drillable)

• Statutory: TB, P&L (monthly), Balance Sheet, VAT, CIS, MTD, statutory accounts
• P&L commentary: the P&L in sentences against the period before (or a year earlier for longer periods): movers, margin, new and stopped costs, one-offs; free, printed with the report; Ask RiQ to explain writes a fuller note for credits
• Report pack: a management pack PDF (P&L with commentary, balance sheet, cash flow, aged debtors and creditors, VAT) emailed monthly or each financial quarter on the first working day, to chosen members and owner-confirmed addresses; off by default, no credits
• Clients view bulk actions (practices): tick clients, then ask HMRC for obligations, verify CIS subcontractors due, email overdue statements (listed, then confirmed) or run RiQ's checks, each client through its own route with progress shown; nothing posts
• Corporation tax (limited companies): the computation from the books (add-backs, capital allowances by asset with full expensing and the AIA, losses brought forward, marginal relief, associated companies, short first periods), s455 on directors' loans shown, the charge posted before the year is closed, a computation PDF; RiQ found proposes the charge after the year end; free, no CT600
• Income Tax year-end: working from home (HMRC flat rate by hours each month, or a share of household costs by rooms and time), sent as premises running costs; private-use prompts with last year's share; the final declaration review checks HMRC's calculation against the books, each difference explained
• Operational: aged debtors/creditors, statements (emailable)
• Activity: sales by customer, purchases by supplier, period comparison, cash flow, project P&L
• Every statutory row → View Transactions pre-filtered
• Export PDF / Excel / CSV

Suite Integration (no export)

• CodeIQ handoff + inline enrich (4 credits/txn)
• Fed organisations: the CodeIQ workspace opens on the drafts already in the books, coded rows arrive paid for and are never re-billed, posting confirms the mirrored draft in place
• LedgerIQ Reports→Analysis, fed the live ledger (1,000 cr/period; same period free again within 24h)
• LedgerIQ State of the Books view on IQ Books ledgers (beside the 44): written-up date, period-end checks, findings with links into the books, RiQ suggestions acted on in place, deadlines with the cash calendar's payment, changes since the last analysis
• LedgerIQ deeper on IQ Books ledgers: VAT return what-changed (boxes vs prior period and prior year, drivers by contact and account, pre-filing observations), Examination segregation-of-duties and bank reconciliation tests, debt service from booked repayments, forensic grouping by contact with links
• LedgerIQ figures inside IQ Books, free: 13-week cash outlook on the dashboard, payment habits on customers and suppliers, stock life, project margins, Clients column, cash-low and target notices, RiQ answers, connector report kinds; answers saved on the chart of accounts
• PrepIQ year-end brief handoff (2,500 / 5,000 / 10,000 cr) + journals.json ingest back into the ledger
• MatchIQ as the Reconcile tab

RiQ Copilot + Voice Mode

• RiQ text chat (free), suite knowledge base, links guides
• Voice mode: mic → transcribe → interpret → 114-op catalog → confirm → execute
• Deterministic number extraction (money/hours/qty backstop)
• Answers the ledger's questions in conversation (match to money already recorded, separate money, record payment, new income); finds bank lines by description, amount or date
• Voice command = 10 credits; module-gated; two-stage deletes; undo
• Model: gemini-3.5-flash-lite (transcribe + interpret) + gemini-3.1-flash-tts-preview (speech)

Migration Engine 1-click

• Import from Xero, QuickBooks or Sage (OAuth)
• Opening TB, contacts, open invoices; NAME-first bank mapping
• Wizard + job polling + undo; OB lands before day one

Settings · Roles · Multi-Org · Practice

• Roles: owner / admin / editor / viewer + approval controls
• Members (email invite flow), multi-org picker, create/archive/leave
• Stripe Connect (standard): "Pay now", saved-card vault
• Practice → client-book access (implicit admin grant)
• Global search (/ or Ctrl/Cmd+K), grouped deep-link results

Entitlements / Tiers / Credits

• Free tier (22 Sep 2026): 1 org with the full ledger (customers and sales invoices, suppliers and bills, stock, projects, fixed assets, prepayments and accruals, recurring, multi-currency, journals, core reports) plus MTD VAT and ITSA quarterly filing; migration free. Paid only: invoice emailing and automatic reminders, CIS300 and Companies House filing, the invoice design studio beyond logo and brand colour, removing the "Sent with IQ Books" footer, extra users beyond the owner and their accountant
• Two filing entitlement keys (Sep 2026): mtd_filing = free (all /hmrc VAT routes + in-year /tax/itsa); filings = paid (CIS300, statutory accounts, the whole final-declaration cluster)
• Open to every account; extra org add-on £5/mo
• Credits meter in sidebar; 402 → top-up; server-enforced gates

Dashboard

• Cash-on-hand hero + per-bank; 30d-actual/14d-projected cashflow chart
• 30-day pulse frieze; recent activity; quick actions
• On the desk: RiQ found, Deadlines (overdue, else the next date), queries, drafts, dues
• RiQ found on every screen: a one-line band with what RiQ found there; repeated findings as one card with the total, ticked and done together; a RiQ star on every record RiQ made, saying what made it and when
• Briefing line leads with a confirmed overdue deadline or one due within 14 days
• Suite explainer cards; 46 in-product guides

Deadlines Oct 2026

• Reports, Deadlines: VAT returns and payments, MTD ITSA quarterly updates, Self Assessment / final declaration, second payment on account, partnership return, Companies House accounts and confirmation statement, corporation tax and CT600, CIS returns, PAYE (monthly or quarterly), P60 and P11D, year-end close, bank feed consent renewal
• Worked out on read from the books: a filing made here clears its deadline at once; a PAYE payment from the bank marks the date paid (matched to its month by amount, even when late)
• HMRC's own VAT and ITSA obligations (fetched from a person's session, 12-hourly, never in the background) and the Companies House register (read daily); the statutory rules otherwise
• Honest states: Overdue only when HMRC or the register said open in the last week (an HMRC-open return stays listed however old); "Not filed here" / "No payment seen" otherwise, counted apart; dates before the books started here not shown
• Mark done (note), does not apply, or switch off a whole kind; take a mark off
• Answers asked for: VAT periods (learned from HMRC or a filed return when possible; a choice that differs from HMRC's is queried); company number checked against the register (missing, dissolved, other name)
• First accounts 21 months from formation; a first period over 12 months split into two corporation tax periods
• Clients view: next deadline per client and "Deadlines across your clients" (overdue + 45 days)
• Reminders at 14 days, 3 days, the day and the day after: phone push (on) and email (opt-in), per login, one message across every set of books (practices included); being switched on in stages
• RiQ answers what is due and marks/sets periods; MCP deadlines tool and books_status.deadlines

Documents Oct 2026

• One server-kept inbox (Suppliers / Customers, Documents): drop, camera, pages-of-one-document, email; adding is free; the same file twice is one document; survives refresh
• RiQ reads (10 credits, claimed before charging, refunded on failure): document type, contact with printed details, dates, totals, every line with product code, quantity, unit price and VAT; VAT-inclusive till lines apportioned to the penny
• Free linking with a reason on every link: contact by VAT number, company number, contractor UTR, email/domain (never free mail), name; stock item by SKU or supplier history; purchase order by printed number or total, line by line; project by reference; VAT code and account per line
• Review beside the page: kind switch (re-linked free), line table with stock/project/PO-line links, totals check, duplicate question (same file, same number, same amount within a week), add the contact with its printed details
• Files as a draft (or issued) bill, supplier credit note or sales invoice, or a CIS statement received compared with the deductions recorded (waits when none are); pages move onto the record; Put it back undoes a draft
• Email-in: an address per organisation, SendGrid signed webhook; attachments and bill-like email bodies become documents; known senders (contact email/domain, SPF/DKIM) read on arrival up to a daily limit, the rest wait unread; change or switch off the address; every email logged
• RiQ found: emailed bills from known suppliers filed as drafts by themselves; drafts offered for issuing; draft bill lines naming a tracked product offered the stock link (S5)
• Expenses: claimants' receipts read on the organisation's credits (owner switch, 25 a day each) into a claim line with the receipt attached
• Retention: discarded or never-read documents lose their pages after 30 days; interrupted reads refunded
• Dashboard Documents to file card; RiQ reads, files, puts back and discards documents; MCP add_document, read_document, list_documents and plan steps