FloQast
FloQastReviews from AWS customer
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FLoqast is easy to use!
What do you like best about the product?
The tie-out of balances to the spreadsheet using the #.
What do you dislike about the product?
I really do not have anything negative to say at this moment.
What problems is the product solving and how is that benefiting you?
Benefits - easy to use and makes close easier.
Simple, clean, does what it needs to do
What do you like best about the product?
The month end close checklist is very handy. Helps us stay organized, provides easy links to back up documentation for key entries, and does it in a pretty clean interface.
What do you dislike about the product?
The systems integrations take some work to get running properly. This isn't a problem specific to Floqast, every one of these types of programs that's supposed to connect your entire enterprise from end to end has gaps, it's just par for the course and Floqast doesn't really solve that issue any better or worse than other systems.
What problems is the product solving and how is that benefiting you?
We started using FloQast primarly for month end close process. Easy to use checklist, ties together all of our supporting materials. Has cut down on time-to-close and time-to-pull-audit-support significantly since we adopted.
Easy to use, helpful
What do you like best about the product?
checklists are helpful and easy to review and share with others
What do you dislike about the product?
Nothing that I can think of at the moment.
What problems is the product solving and how is that benefiting you?
Easier close, cleaner way of keeping up with checklists and deadlines. Makes balancing the books easy on the first of the month. Like that everyone using can see everything to know where someone else is in their process.
Recommendations to others considering the product:
FloQast makes closing a breeze to keep up with.
Streamline your month-end review process
What do you like best about the product?
I like the fact that you do not have to reach out to individuals via email or chat, but all the communications can be done in FloQast. If you have audit experience, it is super intuitive.
What do you dislike about the product?
cannot think of much as this helps our team to streamline our month-end closing process.
What problems is the product solving and how is that benefiting you?
Prior to having FloQast, I downloaded the trial balance from ERP in excel and left comments for my team to review and reconcile. It was hard to go back and see if my team members addressed my notes. But in FloQast, my team members can see the review notes I left for them, they can reply back to my review notes and perform reconciliation in FloQast.
Using FloQast Since Sept'21
What do you like best about the product?
I love how easy it is to assign tasks. This is also a great reminder of what needs to be done, is coming up, and then can check off accordingly.
What do you dislike about the product?
Not being able to see future months when creating tasks. I tend to mess this up
What problems is the product solving and how is that benefiting you?
With accounting, due dates are very important, we are able to hold people accountable for tasks that are due.
Expensive Product
What do you like best about the product?
The capabilities it offers to make month-end quicker is pretty neat.
What do you dislike about the product?
If not properly used (like the way we used it), this product becomes a very expensive task management software.
What problems is the product solving and how is that benefiting you?
Task management. Month-End Process
Floqast
What do you like best about the product?
Streamlines the financial close process, creates accountability over processes, implements a timely review process and audit trail
What do you dislike about the product?
Have not experienced any shortfalls yet.
What problems is the product solving and how is that benefiting you?
Establishing deadlines, roles and responsibilities, approval workflow and review process, and audit trail
Staff Accountant
What do you like best about the product?
A great tool that makes month-end flow by like a breeze. Never forget to update any schedule or reconcile any account!
What do you dislike about the product?
Nothing, I love everything about it! It has solved all the problems we used to face a t month end.
What problems is the product solving and how is that benefiting you?
Month-end close. FloQast has made month-end close very smooth.
Recommendations to others considering the product:
Stay up to date with the the software's updates to maximize use from it.
Ditch the Excel spreadsheet as your close calendar
What do you like best about the product?
Having the close & monthly tasks in one central place and not having to keep track of which spreadsheet is the most current closing schedule
What do you dislike about the product?
FQ is pricey just for Calendar / Tasks and for Reconciliations. If you want to use any other added features it will cost you more
What problems is the product solving and how is that benefiting you?
Closing Calendar / Monthly Tasks
Reconciliation tracker, posting of support, and review of reconciliations
Reconciliation tracker, posting of support, and review of reconciliations
Reconciliations Made Easy with Floqast but with some Limitations.
What do you like best about the product?
FloQast has many user-friendly features that make the closing process a breeze. My favorite part of FloQast is how easy it is to create month-end checklists. Adding new GL accounts into the reconciliation process can be done in bulk or one at a time, which makes the reconciliation process straight forward.
What do you dislike about the product?
FloQast is still pretty slow when it comes to the syncing process. It will take anywhere from 1-5 minutes to sync the cloud folders with Floqast. Another limitation is the size limit of files that Floqast can read. If you have any Excel files over 20MB, Floqast will not be able to find the "#FQ" and therefore, it will not reconcile. These limitations are not deal-breakers but are issues that slow down employees that are not fully trained on how Floqast works. Hopefully, these issues will be patched out in the future.
What problems is the product solving and how is that benefiting you?
One of the benefits of Floqast is having a well-defined closing process. Employees know what they need to complete and when so when they leave the company, the admin can reassign their duties to the newer employees.
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