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Very easy to use
What do you like best about the product?
Syncing functionality and reconciliations
What do you dislike about the product?
Fort and colors, I’d recommend making it easy to use
What problems is the product solving and how is that benefiting you?
Refreshing trial balances
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Floqast is a great tool for anyone looking to improve their month close processes.
What do you like best about the product?
The system is extremely user friendly and helps me see my team's progress at a glance. I like that all of our support documents are housed in one location and tie directly to the FSLI's to which they are attributed. I also like that the time to implement was not very intrusive and the Floqast team has been incredibly helpful in answering all of our questions throughout our engagement.
What do you dislike about the product?
I'm hopeful for increased automation features in the future like the auto rec feature. I also wish there was a bit more assistance with the initial set up of tasks (recommending best practices, set). Setting up checklists and reconciliations for multiple entities creating some redundancies within our system and it would've been nice to have a review done by the Floqast team as they helped us implement the system. Otherwise no major complaints!
What problems is the product solving and how is that benefiting you?
Adding more visibility to our close process and deadlines, holding team members accountable, housing all support files in one location and creating an audit trail. We've reduce our month close time by four business days and have been able to better split up responsibilities between team members based on timing and workload.
Recommendations to others considering the product:
Definitely recommend for anyone looking to increase the efficiency of their accounting close processes. Fairly easy to implement and great for managers looking to clearly define expectations and hold team members accountable to tasks and deadlines. Everyone we've worked with at FloQast has been super kind and helpful and they continue to roll out new features that improve our overall experience.
Good but needs improvement
What do you like best about the product?
The reconciliation feature is the best part about Floqast. It's great to be able to look in one place to ensure that our recs tie to our GL. Reviewing accounts after all entries have been posted is greatly improved with Floqast.
What do you dislike about the product?
It's not very robust, I always want more out of it. We also have a tough time of getting all teammates to update their status within floqast. I also wish I could edit assignments within the reconciliation page. This feature was recently added for the checklist page, but I want it for the rec page too.
What problems is the product solving and how is that benefiting you?
Ensuring accounts are reconciled and keeping a timeline (with the checklist function). The reconcilation feature is a lifesaver for team members who are completing the recs, it used to be a nightmare ensuring that all recs were tied out and floqast makes it a lot easier on the reviewer so the final stages of our close are quicker and a little smoother.
Recommendations to others considering the product:
It will help you keep your close more organized and smooth the review process at the end of the close.
The support team is great - they always answer my questions quickly and have a solution for me.
Reconciliations are easier than ever with Floqast.
The support team is great - they always answer my questions quickly and have a solution for me.
Reconciliations are easier than ever with Floqast.
FloQast - One of our favorite CAS tools
What do you like best about the product?
That it’s connected to our Sage Intacct balances and the scorecards of % complete of close to share the knowledge with the whole team.
What do you dislike about the product?
Needs a little more automation to roll over schedules. That we can’t roll up lots of client’s info to see an accountant’s console of % closed by each client in one spot.
What problems is the product solving and how is that benefiting you?
A standard way to do month end close. We know ahead of time where we are on every month end close.
FloQast has continually kept our close on track!
What do you like best about the product?
1 central place for everyone in our global accounting team to track progress and ensure our financials are clean/understood.
What do you dislike about the product?
Cant sort within the system (have to export to excel)! I would love to be able to sort on the various fields for both checklist and reconcilitiations
What problems is the product solving and how is that benefiting you?
We dont miss anything. For accounting, that is essential. In addition, our processes flow correctly, in the right order. That way the team understands dependencies and executes on the right items at the right time.
Recommendations to others considering the product:
Its the best close management software out there that I know of. Simple, easy to use, and adds immediate value.
Excellent organization tool for accounting close and reconciliation processes
What do you like best about the product?
Floqast automatically sets up your accounting close tasks and calendar based on established rules (e.g. A/P closes each month on the 5th business day). These may be customized as monthly, quarterly or annual recurring events. Dashboard reporting provides easy monitoring of your close progress, especially handy when your team is larger than just a couple of people. Floqast "enforces" a much appreciated centralized organization of supporting files. Lastly, having task or account reconciliation signoffs gives supporting internal control documentation. Auditors love using the tool...I give them full access.
What do you dislike about the product?
I would like for Floqast to "automagically" integrate with Planful- we have to manually update the chart of accounts and balances in Floqast. This is not a cumbersome process but is a quick manual task that we would love to see automated.
What problems is the product solving and how is that benefiting you?
Floqast facilitates communication across diverse geographic locations; we have more confidence that all accounts are reconciled and task completed for an accurate accounting close; and our audit preparation is much easier and faster.
Recommendations to others considering the product:
Floqast was extremely easy to implement. We completed installation in three weeks...start to finish.
Great for Keeping Organized
What do you like best about the product?
I am a fan of checklists and this is a great software for them. I like that it is customizable based on your individual tasks and can be linked to QB to import necessary data.
What do you dislike about the product?
It's slow to update when tasks are complete so occasionally takes some time to reflect in the software that the month is ready to be locked once complete.
What problems is the product solving and how is that benefiting you?
It is a real easy way for our organization to stay connected with each other on what tasks have been done and which ones still need completing with the majority of us telecommuting. It gives some assurance that tasks have been completed because preparers are having to sign off with their login to say they have done the tasks.
One stop shop of the status of our close.
What do you like best about the product?
Well controlled, easy to use and very intuitive.
What do you dislike about the product?
I love all of the functionality in Floqast. My dislike is not being able to control the look and feel of the dashboard - mainly there is too much space between the lines. I wish we could have a "condensed" view to see more of the items on each page.
What problems is the product solving and how is that benefiting you?
We were previously tracking close in google sheets. There was no control over how items were tracked and controlled. We now have one team member that can update the checklist. In this way we can ensure that we get a clear and consistent view of our close. This tool allows us to remain focused on what we need to do and when. Before we used Floqast we had NO cadence of our close. We now close in 10 days and are on track to cut to 5 days by the end of 2020. Floqast was a huge part of this improvement.
Recommendations to others considering the product:
Floqast can be used as a step by step process document for all of the procedures needed to close the books. Many of our teams use it to document all steps needed to complete tasks. We have also set up document folders that house policies and other documents.
Floqast has been a game changer for our close process!
What do you like best about the product?
Everything is tracked in one place which really helps the team stay organized and only have to go to one place. The analytics and visuals are great for management to see our progress.
The system adds controls to the checklist and reconciliation process that are otherwise hard to manage.The alerts when recons go out of balance are huge!
The setup and updates are easy. Even for mass changes, the upload tool is very user friendly.
The support team we have is super responsive and helpful.
The system adds controls to the checklist and reconciliation process that are otherwise hard to manage.The alerts when recons go out of balance are huge!
The setup and updates are easy. Even for mass changes, the upload tool is very user friendly.
The support team we have is super responsive and helpful.
What do you dislike about the product?
Nothing comes to mind. Floqast has been really positive for our organization. Being able to edit the checklist and now recons directly on the page we are working on has also been a big time saver as the admin of the account.
What problems is the product solving and how is that benefiting you?
The biggest problems we are solving are around organization and tracking. In addition, having everything in one tool saves time and confusion for all parties.
Exceptional Month-end Close Tool
What do you like best about the product?
FQ give me the ability to see our close progress at a consolidated level and drill down to the reconciliations and supporting detail. This was sorely needed for our close process before we added FQ.
What do you dislike about the product?
I'm hoping for some revisions to the notes and the back-and-forth exchange between reviewer and accountant. My ultimate hope is to move any/all of our reconciliation review Q&A process out of emails and into FQ. However, the current notes make it slightly difficult to completely make the transition.
What problems is the product solving and how is that benefiting you?
We are managing our close process and timing more effectively with FQ. Also, one of the greatest benefits has been knowing that as the GL balances are changing through the close the recs are kept in balance. Prior to life with FQ, recons would be approved and then never touched again until the following month, despite balances changing after that initial sign-off. We now have peace of mind that is no longer taking place.
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