Ledger IQ

What is Ledger IQ?

Ledger IQ is browser-based software that turns a client’s trial balance into an import file for US tax preparation software. It is built for CPA firms preparing partnership and corporate returns, and the company claims it saves one to two hours of data entry per return.

The workflow has three stages. You drag in an Excel or CSV trial balance exported from QuickBooks, review a suggested tax line for each account and post any journal entries, then export a file for Lacerte, UltraTax CS or Drake Tax. Suggestions draw on your firm’s own mapping history, fixed accounting rules and AI classification, and none reaches the return until a preparer accepts it.

The site carries a 2026 copyright and offers a free first return, so the product is active. Older directory listings describe Ledger IQ as a general bookkeeping app with a monthly plan, which points to a change of focus towards tax preparers. The software prepares data for a return; the preparer and signing CPA remain responsible for the figures, and nothing it produces is tax advice.

Key Features

Suggested tax line mapping removes retyping in Ledger IQ, while the return tie-out catches differences before a return is filed.

• Trial balance import: Ledger IQ reads trial balances saved as Excel or CSV files, including exports straight from QuickBooks. You upload by drag and drop, and the official site says the spreadsheet is read once and then discarded rather than stored.
• Suggested tax line mapping: Each account receives a proposed tax line based on firm history, deterministic CPA rules and AI. Every suggestion must be accepted or dismissed, so the software never posts a mapping to the return without a human decision.
• Journal entry posting: You can post adjusting (AJE), reclassifying (RJE) and tax (TJE) entries inside the tool. Entries can later be exported in Excel or PDF, which gives reviewers a clear record of every change made to the books.
• Working Trial Balance: The workpaper shows unadjusted figures, AJE and RJE adjustments, adjusted balances, tax adjustments, tax balances and the tax line in columns. You can click an adjustment or tax line to trace exactly which accounts feed it.
• Return tie-out and net income proof: A tie-out compares workpaper totals with the return, grouped by areas such as Page 1, Form 1125-A, Schedule K and Schedule L. Net income is also proved at the unadjusted, adjusted and tax balance stages.
• Year-over-year rollforward: Last year’s mappings carry forward automatically when you start a new year for the same client. The site says large swings between years are flagged, which helps reviewers spot unusual balances before they reach the return.

Pros

Faster return preparation without giving up control is the appeal of Ledger IQ, since a preparer approves every mapping before export.

• Preparer stays in charge: A person must accept or dismiss every suggested mapping before anything is exported. This suits firms with review procedures, because responsibility for each return line remains clearly with the preparer and reviewer.
• Flexible per-return pricing: Returns cost between $10 and $25 each, and prepaid packs never expire. Smaller firms can buy only what they need, while busier practices can choose the $1,200 unlimited option instead.
• Privacy by design: Only account names go to the AI, never dollar amounts, and client data is not used for model training. The tool also holds no SSN, EIN or taxpayer name fields, which limits exposure if anything goes wrong.
• Low-risk trial: Your first return is free and no credit card is needed. You can test it on a familiar client from last season and compare the export with the figures you filed manually.
• Helpful import guides: Step-by-step guides cover the import path in Lacerte, UltraTax CS and Drake Tax. A blog with more than 60 articles also answers common questions, such as where officer compensation goes on Form 1120S.

Cons

Only three business return types and three tax packages are supported, so narrow scope is Ledger IQ’s main limitation.

• Three forms only: Ledger IQ handles Forms 1065, 1120 and 1120S, with no listed support for Form 1040 or non-profit returns. Firms with mixed client lists will still need other methods for those returns.
• CCH exports pending: CCH Axcess and CCH ProSystem fx are marked as coming soon rather than available. Firms on CCH software cannot use the export step yet, which removes most of the time saving.
• No live QuickBooks link: File upload is the only way data gets in, so someone must export the trial balance from QuickBooks first. This adds a manual step, although it also keeps the tool away from client systems.
• Some setup in each package: The first import needs a one-time mapping profile in Lacerte or UltraTax CS, and Drake users must turn off auto-balance. These steps are documented but still take a little time to learn.
• Little independent evidence: Company background, team size and third-party reviews are hard to find, and directory listings still describe the older bookkeeping product. Buyers have to rely mainly on the official site and their own trial.

Who is Using Ledger IQ?

Small and mid-sized US CPA firms preparing partnership and corporate returns from QuickBooks data are Ledger IQ’s typical customers.

• Small CPA firms: Practices with many 1065 and 1120S clients use it to cut data entry. Pay-per-return packs keep costs tied to actual volume.
• Tax preparers: Staff who used to retype trial balances into Lacerte, UltraTax CS or Drake Tax use it to map accounts. They then export a ready import file.
• Busy-season teams: Firms facing March and April deadlines use it to move returns along faster. Rollforward means repeat clients need fewer new mapping decisions each year.
• Reviewers and partners: Senior staff use the Working Trial Balance and tie-out before signing. Binder-ready Excel or PDF workpapers support review and archiving.

Pricing

Ledger IQ charges $10 to $25 per return after a free first return, or $1,200 for unlimited returns through 2027 (official prices, October 2026).

One directory still lists a free plan and a $15.99 monthly plan, which appear to belong to the older bookkeeping version of the product.

Disclaimer: The per-return rate depends on pack size, so run the official pricing estimator before you buy.

What Makes Ledger IQ Unique?

Ledger IQ works at the hand-off between the books and the tax return, a step most AI accounting tools ignore. Rivals usually categorise bank transactions inside the ledger, whereas Ledger IQ starts from a finished trial balance and ends with a file your tax package can import.

Its privacy model is also unusual. The AI sees account names only, the uploaded spreadsheet is discarded after reading, and the service runs on AWS with TLS 1.2 and 1.3 encryption in transit. Export files are tailored to each package, for example Drake’s own Excel template with import codes, or a four-column CSV for Lacerte’s Data Conductor.

Compatibilities and Integrations

Ledger IQ connects to tax software through import files rather than live integrations, supporting Lacerte, UltraTax CS and Drake Tax in October 2026.

• Platform: A web app used in a desktop browser, with a multi-company dashboard for managing many clients.
• Tax software: Intuit Lacerte via Data Conductor, Thomson Reuters UltraTax CS via Trial Balance (Excel) Import, and Drake Tax via Trial Balance Import; CCH products are listed as coming soon.
• Inputs: Excel or CSV trial balances, typically exported from QuickBooks; there is no direct QuickBooks connection.
• Outputs: CSV or Excel import files, plus the adjusted trial balance and journal entries in Excel or PDF.
• Infrastructure: AWS hosting with Amazon Aurora and AWS Cognito, according to the official site.

Ledger IQ Tutorials

A first return in Ledger IQ takes one sitting, from upload to a file your tax package can import.

1. Sign up for the free first return and add the client company to your dashboard.
2. Export the trial balance from QuickBooks as Excel or CSV and drag it into Ledger IQ.
3. Accept or change each suggested tax line until every account has been reviewed.
4. Post any AJE, RJE or TJE entries and confirm the Working Trial Balance balances to zero.
5. Check the return tie-out and net income proof for each column.
6. Export the import file and follow the official guide for Lacerte, UltraTax CS or Drake Tax.

How We Rated It

Ledger IQ earns 3.9 because careful review controls and strong privacy are offset by narrow form coverage and thin support material.

Summary

Ledger IQ suits US CPA firms that prepare partnership and corporate returns from QuickBooks trial balances in Lacerte, UltraTax CS or Drake Tax. It removes most retyping while keeping a preparer in charge of every mapping, and its privacy approach is stricter than most AI tools. The main limits are scope, with no Form 1040 or CCH export yet, and little independent evidence about the company. We would start with the free return on a client you know well and compare the export with last year’s filed figures.