Who Uses This Software?
IQMS offers industry specific ERP & manufacturing software with advanced accounting and financial functionality specifically for manufacturing companies
Average Ratings19 reviews
- Overall 4 / 5
- Ease of Use 4 / 5
- Customer Service 4 / 5
- Value for Money
- Free Version No
- Free Trial No
Cloud, SaaS, Web
Installed - Windows
Mobile - Android Native
- Founded 1989
About IQMS Accounting
IQMS Accounting is a comprehensive finance management system designed for discrete and process manufacturers. (min. 5 users.)
Knowing how and where you spend or make your money puts you in charge of monitoring cash flow and controlling costs. We excel over stand-alone packages because your important financial data crosses seamlessly into job costing, estimating, manufacturing, forecasting and more - allowing you to make intelligent decisions focused on the bottom line.
IQMS Accounting Most Helpful Reviews
Reviewed on 17/05/2012
Comments: An efficient and easy to use accounting system. Costing needs enhanced so you have the ability to generate income statements by SBU without having to run a lot of reports and do manual journal entries.
Pros: UI is perfect. Navigation is simple. Reports are straight forward. Performing transactions in both a/r and a/p are effortless. Entering invoices from the a/p side is very very efficient.
Posting shop floor is too cumbersome. Needs to have more journals for separation of posting activities to better track costing. (dispo contains too much info). Posting should ask you for an accounting period only...and only once. i.e Disposition journal posting wants info twice. Always should be free from with current date..only needs to ask what period. Cash disbursement should have check number control and populate the last check number.
Concerning sales and cost of goods sold, inventory screen will let you enter a different sales account number for the item but not other accounts such as standard cost of good sold. You end up with sales of 100,000 but costs all go to the default account.
Reviewed on 01/06/2012
Accounting Made Easier with IQMS
Comments: I would recommend this software to any injection molding environment. It is well worth the cost and training time.
Pros: Support is fantastic. You can call anytime and get a live person to walk you through any issue. That alone is worth so much. I have used multiple software packages for accounting. The integration from manufacturing to accounting is great. IQMS actually listens to their users and updates their systems to meet our needs, rather than the user always losing something with each update.
Cons: Ad Hoc Reporting Writing would make the system even more robust. I have some instances where I could add one or two fields to an existing report and have what I need. Crystal can be easily corrupted when you have multiple users trying to clone and make changes to reports, so we have the system locked down. Having said that, an addition of ad hoc reporting would be a valuable addition to your software package.
Reviewed on 07/06/2012
IQMS Accounting Module Review
Comments: One of the very best investments we have ever made! Having complete control and visibility of our inventory and processes along with being able to run accurate gross profit reports is priceless.
We have been using IQMS for nearly 10 years. Each update provides thoughtful and beneficial changes to enhance our application of the software. Some of the recent functionality additions we have found particularly valuable include:
-quick scan for invoices and sales orders
-ability to drop email correspondence virtually anywhere in the system
-reverse journal entries and the push of a button
-ability to close INV status in the GL periods maintenance has been extremely useful in reconciling inventory accounts
Cons: An observation more than a con: Implementing Upgrades! We couldn't do this successfuly without the help of an IQ consultant. There is just too much to know and understand.
Reviewed on 13/06/2012
Comments: Overall I think that Accounting Module is very customizable but does take a lot of set up time to get it the way user's want it. I think the IQMS has a lot of great ideas but could definitely use some improvement, especially with regards to bank reconciliation.
- Spreadsheet server to easily customize reports for accounting department
- Reversal of Journal entries and invoices quickly
- Quickly get assistance from IQMS support with any issue
- Ease of transferring data to Excel
- Relatively fast (Compared to what we knew before)
- Out of the box reports aren t very good hence the spreadsheet server
- Reversal of Journal entries and invoices quickly
- Bank Reconciliation needs improvement
- Cumbersome to get new account set ups into the report and then in Spreadsheet Server.
- Having to re-setup all formatting after new version
- Payment process is also cumbersome
Reviewed on 29/06/2012
Comments: Overall, I'd recommend the system. Although I wasn't involved in the implementation here, I have been involved in other system implementations and cannot overemphasize the importance of proper planning and training. It is significantly more costly to change and fix than doing it right the first time...including with this software.
Pros: Feature rich system with excellent customer support. There are so many features I'd like to learn more about and implement but due to current resources I'm limited. The system provides very nice drill down capability.
Cons: Standard reporting and internal control for accounting purposes is a little lacking making certain routine reconciliations difficult. I'd like to see the ability to have costing done using different methods on a company by company basis as well as make vs buy parts basis. Cost of annual support seems a bit high.