Housing association finances can be complicated – but iplicit’s cloud accounting software takes the hard work out of managing that complexity.
iplicit is a sustainable and flexible solution that caters to the long-term needs of a finance team.
It seamlessly integrates with any system you require.
Its advanced automation features eliminate tedious data entry and manipulation of figures in spreadsheets, as well as reduce the headaches caused by intercompany accounting.
What’s more, iplicit makes it easy to produce timely and accurate management reports and drill down into the financial data you need.
Many housing association finance teams need to move away from legacy housing management systems and finance management systems that are nearing the end of life.
Mergers in the sector have also left many associations trying to work with multiple incompatible systems.
iplicit's open API enables seamless integration with any other software of your choice. This gives you the freedom to select the “best in breed” applications from the huge range available. You can be assured that it will effortlessly integrate with any software you choose to implement, both now and in the future.
A common source of complexity for care homes is that funding for the same service user can come from several sources – for example, the NHS, an insurer and multiple family members. iplicit handles this simply by using its project accounting features to set up “resident accounts” that accommodate multiple sponsors for one service user.
The finance team’s work can also be complicated by large payments received from the NHS to cover multiple service users, sometimes in different homes under different legal entities. iplicit takes the labour out of intercompany receipt allocations, quickly splitting such payments and putting the funds into the books in the right places.
iplicit can save many hours – and often days – of staff time every month by automating everyday accounting tasks.
iplicit's automation features drastically simplify tasks such as:
iplicit provides all the reporting capabilities a housing association needs. With unlimited accounting dimensions, it allows you to slice and dice the data exactly as you want it.
The software eliminates the need to manipulate data in Excel before it can be presented. Allowing you the flexibility to present the data differently to meet the requirements of stakeholders and regulators.
You have complete control over tagging and filtering data, allowing you to easily shift from examining the big picture to drilling down into the granular detail.
Preparing and submitting VAT returns can be complicated work for housing associations.
iplicit is designed to cater for the needs of non-profits as well as businesses – and it easily handles partial VAT.
The automation features can ensure VAT is correctly calculated, posted and reported under Making Tax Digital.
Managing fixed assets can be a laborious and error-prone task for a housing association finance team.
iplicit's fixed asset management module eliminates hours of work in spreadsheets, handling tasks such as:
All stakeholders can have secure, permission-based access to the finance information most relevant to them, thanks to iplicit’s highly configurable authorisations and workflows.
See information from an unlimited number of fields in real time.
The housing association sector is at the heart of our world. We understand the details that help you to get the most from your accounting solutions and why you need specialised software tailored for housing associations. Here’s our insight behind our accounting software.
iplicit's open API enables seamless integration with any software of your choice. Giving you the freedom to select the “best in breed” applications.
Complete month end in days not weeks with automatic services, invoicing, automatic accruals and prepayments. Automate intercompany purchase and payment allocations, intercompany journals and invoicing.
iplicit's flexible structure and unlimited dimensions enables full analysis by entity, service and fund.
iplicit’s advanced Tax Management features enable you to easily manage the complexities associated with multi-jurisdiction VAT across all entities.
iplicit’s configurable workflow authorisations ensure that processes are followed with a full audit trail of submissions and approvals. Workflow approvals can be easily set up for each entity or department on sales, purchases, nominal transactions and even budget changes.
Monitor and control budgets at operational and consolidated accounts levels.
We’ll empower you and your team to learn about the system at your own pace, with a safe sandbox mode for multiple users to explore.
iplicit provides monthly system updates that are automatic, user-centric and ensure that the software continues to meet the changing needs of your sector.
Multi-entity consolidation by group or sub group with no data exports required or additional consolidation modules. Eliminate manual consolidation with our single unified platform for your multi-entity and consolidation needs.
Analyse each entity with actuals vs. budgets by Activity, Cost Centre, Departments, Projects, Funds, Locations, it’s all configurable with iplicit.
iplicit is a full, multi-currency solution with the ability to have different exchange rates to be used for different entities, inter-company transactions and consolidation.
Drop and drag in all related documents against a client, requisition or invoice with multiple OCR options.
Localised or centralised purchase requisitions, with line based intercompany apportionments.
Full data entry and data access controls to suit users, roles, departments or legal entities.
Our straightforward monthly pricing includes licence fees, award-winning support and regular updates.
"There’s a lot of inter-company work. iplicit makes that a lot easier by consolidating everything together; there’s no logging out and logging back into a different company, you can just swap between them.
We knew there was a need to make things more efficient, but we struggled to find a way to achieve that with Sage 50."
"We were using Exchequer when I joined Yorkshire Wildlife Trust, but we’d grown to a £10m-£12m turnover and it was creaking at the seams.
To reconcile the main bank account would have taken half a day. Now it takes five minutes."
"The timesaving we experience with iplicit is enormous! We are currently preparing our year-end process, and already we are saving six weeks consolidating the various project balance sheets from various QuickBooks versions."
The finance platform iplicit is offering the time-saving advantages of accounts payable (AP) automation to its full range of customers in the latest update to its product.
iplicit's own AP automation features will sit alongside the system’s ability to integrate with third party applications such as Lightyear, offering a choice of ways to increase accuracy and digitise previously manual processes.
Customers will be able to choose the option that best suits them, ensuring the benefits of AP automation are available to all iplicit users.
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There can’t be many businesses of similar size whose finances get as complicated as a group of care homes. Everyone working in the care sector has seen the industry consolidating, as new entrants to the market buy up smaller businesses and existing providers take over more sites.
But while that might lead to efficiencies, the short-term effect is often to increase complexity even more.
However, there are ways software can help with care home accounting, eliminating many hours of tedious and error-prone work and releasing staff to concentrate on higher-value tasks.
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It’s a cry heard from finance teams everywhere: Why does this take so long?
If your team is managing to close the books on the past month within around five days, you’re likely to be running a pretty lean operation already – although you’d probably like the process to be shorter.
For many organisations, particularly smaller non-profits, a month-end close can run into weeks. In fact, plenty of teams have members who are occupied with month-end related tasks, and a lot of spreadsheets, pretty much all the time.
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iplicit is so scalable, it's the only system you'll ever need. With this in mind, we'll continue to support you for every day that you use the system, from implementation, to go-live, and far beyond.