Hand over a client's records. RiQ prepares the full year-end working papers set, the extended trial balance, fixed asset schedule, capital allowances, finance reconciliations, VAT and the tax computation, every figure linked back to its source and ready for your review.
You stay the accountant. PrepIQ does the preparation, the reconciling and the linking, then puts a finished, balanced set in front of you. The only manual step that matters is your sign-off.
The ledger and the paperwork, in any format.
Reconciled, posted, linked, balanced.
Every judgement and query flagged.
Approve, then download the set.
Upload the client's bookkeeping or GL export and any supporting documents. Choose sole trader or limited company. Add a note if there is anything RiQ should know.
It reconciles every source, builds the schedules, posts to the trial balance with every figure cell-linked, and runs its own tie-out checks until the set balances.
Open the workbook and the notes. Every judgement and query is flagged. Ask RiQ to change anything, or add documents you forgot, and it reworks the same set.
When it is right, you sign it off and download the finished working papers. Nothing is released until you approve it.
PrepIQ works inside your firm's own template and fills the sheets a reviewer expects to see, populated, reconciled and linked, in the conventions you already use.
| Nominal account | Opening | Recorded | Unrecorded | Adjustments | P&L | Balance sheet | Rec |
|---|---|---|---|---|---|---|---|
| Sales | - | (48,120) | - | - | (48,120) | - | Rec |
| Motor expenses | - | 3,842 | - | - | 3,842 | - | |
| Training | - | 1,400 | - | - | 1,400 | - | TBC |
| Depreciation | - | - | 2,500 | - | 2,500 | - | Rec · FAS |
| Motor vehicles | 12,000 | - | - | - | - | 12,000 | Rec · FAS |
| Hire purchase | (9,600) | - | - | 2,880 | - | (6,720) | Rec · HP |
| Corporation tax | - | - | - | (1,890) | 1,890 | (1,890) | Rec · Tax |
| Totals | 2,400 | (42,878) | 2,500 | 990 | (38,488) | 3,390 | |
| Check | 0.00 | ✓ |
The heart of the set. Opening balances, recorded, unrecorded, adjustment and accruals columns, all footing and balancing.
The client's bookkeeping summarised into the rows your trial balance expects, each figure tracing back to the source.
The fixed asset schedule built or rolled forward, with the year's depreciation charge posted where it belongs.
The tax schedule kept separate from the accounts, feeding only the tax computation, with pools and the private-use restriction handled.
A dedicated, cell-linked sheet for each hire-purchase, loan, mortgage or completion statement you provide.
VAT reconciled and the tax computation completed, including the corporation tax charge for a profitable company.
Working papers are evidence. PrepIQ treats them that way. Nothing is a typed-in number you have to take on trust, and nothing is plugged to force a balance.
Every posted figure on the trial balance is a live link to the working sheet it came from. Trace any number to its source in one click.
The recorded columns self-balance by double entry, the profit ties through to capital, and the set will not finish with a difference left unexplained.
Where a treatment needs your call or the client's confirmation, it is flagged as a cell note and a query, marked TBC, never silently decided.
Bank, fixed assets and every schedule-backed line carry a Rec mark referencing the sheet that supports them. Sparingly, so the signal means something.
The set is recalculated and checked end to end before it reaches you. No broken references, no stale figures, no surprises in the print.
Every posting, assumption, judgement and client query is recorded in a log alongside the workbook, so your review starts from a clear trail.
"The point is not that it is fast, though it is. The point is that what lands on your desk already ties out, already references its sources, and already tells you what to ask the client."
Choose the entity and PrepIQ uses the right template and the right rules. The accounting and the tax treatment follow the entity, not a one-size-fits-all guess.
For unincorporated clients. Trade, property and savings income kept in their right places for the self-assessment return, with the equity treatment a sole trader's accounts expect.
For incorporated clients. Directors' loan accounts, dividends and reserves handled, and the corporation tax charge calculated and posted for a profitable company.
Give PrepIQ the prior-year working papers and it continues from them rather than starting blank. Continuing clients keep their history; new clients start clean.
Last year's closing balance sheet becomes this year's opening balances, proven to tie exactly. Profit and loss starts at nil, as it should.
Fixed asset, capital allowance and finance schedules carry their brought-forward figures, so depreciation and pools pick up exactly where they left off.
It works from your prior file, so your layout, your labels and the way your firm presents a set are preserved year to year.
There is no special export to produce. Give PrepIQ what the client already has: a ledger from whatever software they use, plus the supporting paperwork, in whatever format it arrives.
Client financial records deserve care. PrepIQ is built so the data stays scoped to you and is cleared once the job is done.
Your jobs are yours. Each job is isolated and a user only ever sees and works on their own. Nothing is shared across accounts.
A finished set waits for your approval. It is never auto-finalised, and every judgement is surfaced for you to confirm before sign-off.
When you close a job, the client documents are cleared down. Records are processed for the job in front of you, not kept indefinitely.
A complete set of year-end working papers in your firm's template: a records summary, the extended trial balance with opening balances and the recorded, unrecorded and adjustment columns, a fixed asset schedule, capital allowances, a reconciliation sheet for each HP, loan or completion statement, VAT, and the tax computation. Every posted figure is a live cell link back to its working sheet, so the whole set ties out and is traceable.
Yes. PrepIQ uses the correct template for the entity you choose. Sole trader sets carry the self-assessment splits and roll the equity accounts into capital; limited company sets handle directors' loan accounts, dividends, reserves and the corporation tax charge for profitable companies.
Yes. Provide last year's working papers and PrepIQ rolls them forward. The closing balance sheet becomes this year's opening balances, proven to tie, and the fixed asset, capital allowance and finance schedules carry their brought-forward history. Without a prior file it treats the client as new and opens at nil.
Always, and that is the point. PrepIQ prepares the papers and flags every judgement and query, then hands them to you. Nothing is released until you approve it. You can send follow-up instructions and extra documents and it will revise the same set, keeping the full context of what it already did.
A general ledger or bookkeeping export from any platform (Xero, QuickBooks, Sage, Pandle and others), plus the supporting paperwork: bank statements, hire-purchase and loan agreements, completion statements, mortgage interest certificates, and scanned or photographed receipts and invoices. There is no special export format to produce.
PrepIQ is in private beta for accountants and practices. Request early access and we will be in touch. It joins ReconcileIQ, CodeIQ and LedgerIQ in The IQ Suite.
Bank against books, matched line by line, with every exception surfaced. Clean recs are where a clean set of accounts begins.
ReconcileIQ features →AI bookkeeping that codes the transactions, classifies VAT, matches invoices and posts back to the platform. The ledger PrepIQ then works from.
CodeIQ features →40+ analysis modules, ratio trends, anomaly detection and board-ready PDFs from any GL export. The advisory layer on top.
LedgerIQ features →PrepIQ does the preparation so your time goes on the review and the advice. In private beta for practices now.