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Interactive accounting (Iacc)

What is Iacc?

Interactive accounting (Iacc) is a PwC service that enables you to maintain your accounting records with reduced input from yourself and your staff, thus saving you time and money.

It can best be described as an interactive, internet-based bookkeeping service where you and PricewaterhouseCoopers staff work together to produce accurate financial records and management reports within a short period of time.

What is in it for you?

Some of the services that are included in the Iacc bundle are:

  • The bulk of your records are recorded in an accounting system.
  • Vat transactions.
  • Monthly management reports.
  • Annual financial statements.
  • Seasonal management reports.
  • Income tax administration.
  • Hire purchase agreement management.

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Who benefits from Iacc?

Managers and business owners that:

  • Cannot afford an experienced in-house accountant or need to replace such an accountant.
  • The system can be run by a lower-skilled staff member or the owner himself.
  • Need to save costs due to the economic down-turn.
  • Are experiencing pressure on their administrative and bookkeeping staff structure.
  • Require monthly management information for a 3rd party.
  • Need to replace or upgrade their current general ledger software.
  • Are constantly travelling and need mobility to maintain their financial documents.

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How does it work?

In short, Iacc focuses on the recording of your transactions to produce management and financial reports.

This is done as follows:

  • Iacc is an internet portal where you and a dedicated PwC consultant can log onto.
  • Once logged in, you can get a snapshot of what information or actions are outstanding, reports that are accurate up to the last login date, and view your formal management statements or general accounting reports.
  • The portal indicates and manages a “To Do”-list of information to be provided by you and a “To Do”-list of actions to be performed by the PwC consultant.
  • PwC obtain bulk bank and creditor transactions electronically and import it on a regular basis into Iacc. Iacc (monitored by PwC) stores trends of these transactions and future transactions will be automatically allocated and recorded into the system.
  • After “To Do”-lists have been cleared, PwC staff will review the reports/records and place the reports on the IAcc-portal. These reports can be accessed by users with the required access being it management or a 3rd party such as your financier.

From the login, you also have direct access by e-mail to your PwC consultant.

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Iacc benefits and value proposition

The advantages for a manager/business owner that makes use of this service are numerous.

The service streamlines your business by providing timely financial reports and related services while reducing your business's time spent on administrative functions.

The most obvious advantages are:

  • Your financial statements are at your finger tips.
  • Quick delivery times.
  • Dedicated PwC support while using the system.
  • Reduction of salary costs.
  • Increased mobility.

The added benefits and value to you and your business when using iAcc are;

  • Ease of mind on the quality of the information.
  • More time to focus on your core business.
  • A relevant product to fit the current available technology.
  • Cost savings on technology and staff.
  • Easy access to your financial system.

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Contact us

Gert Allen

Gert Allen

Africa PCS Leader, PwC South Africa

Tel: +27 (0) 11 797 6101

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