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It's a great tool to manage your accounting month end close in an efficient and more automated way.
What do you like best about the product?
I like its sign off tool, auto reconciliation as well as the variance analysis.
What do you dislike about the product?
None except that it doesn't show the audit trail that how many times the variance analysis comments have been updated. It only shows the date of last update and when you sign off the item.
What problems is the product solving and how is that benefiting you?
It's solving for streamlined month end process and more automation.
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Streamlined Approach to Close
What do you like best about the product?
It streamlines the close process and keeps everything I need to do in a checklist.
What do you dislike about the product?
I would like to be able to look at reporting and close checklists simultaneously
What problems is the product solving and how is that benefiting you?
Auditors can see the audit trail. Our reconciliations are all in one spot.
Cut Our Closing Time Down More Than Half!!
What do you like best about the product?
The ability to visualize where we stand at any time on our month-end close. The checklists and reconciliations allow everyone to know what they are responsible for and make it easy to not "miss" any steps along the way. It syncs pretty well with our ERP (Intacct) and we use FQ not just monthly but also for weekly and quarterly tasks and reminders.
What do you dislike about the product?
The loading times for refreshing and uploading are lengthy. I wish there was an app and/or that the site was mobile friendly. I would like to approve some recs/ checklist items while on the road but that isn't possible outside of a desktop or laptop computer.
What problems is the product solving and how is that benefiting you?
spotting changes in balance sheet accounts, checklists/ reminders to ensure all financial close tasks have been completed.
Financial close efficiency and accuracy
What do you like best about the product?
The most helpful aspect of FloQast is its ability to streamline the financial close process, offering a collaborative platform that enhances efficiency, accuracy, and transparency in accounting workflows. The upsides include improved communication among team members, real-time visibility into the close status, automated reconciliations, and a centralized hub for managing and tracking financial close tasks, ultimately leading to a more organized and efficient financial reporting process.
What do you dislike about the product?
One drawback of FloQast could be the initial learning curve for users unfamiliar with the platform, requiring time to fully grasp its features. Furthermore, while the platform provides extensive capabilities, the associated cost may pose a challenge for smaller organizations with budget constraints. Evaluating the platform's advantages in comparison to these potential drawbacks is crucial, considering factors like training requirements and financial limitations during the implementation of FloQast.
What problems is the product solving and how is that benefiting you?
FloQast resolves issues associated with the financial close by expediting processes, enhancing accuracy, promoting collaboration, increasing visibility, automating reconciliations, centralizing task management, and facilitating compliance with accounting standards.
Floqast solves your Account Reconciliation needs
What do you like best about the product?
It is very easy to use. The notifications are great. It is helpful when it lets you know that a recon is out of balance after you have reconciled. The checklist is great and eliminates extra work we were doing in our Accounting Software.
What do you dislike about the product?
We had a couple of issues with setup and clear communication, but these have since been resolved.
What problems is the product solving and how is that benefiting you?
Floqast is keeping all of our close needs in one spot. We utilize the checklist and the account recons. A click of a button gets you access to the account recon file so you can review, make changes and sign off on.
FloQast Has Been Awesome!!
What do you like best about the product?
I love how it links to our existing file system.
What do you dislike about the product?
How you can only see one comparison on the varience analysis.
What problems is the product solving and how is that benefiting you?
It puts everything in one place!!
FloQast as improved our closing processes immensely
What do you like best about the product?
Using FloQast has helped to improve our closing processes. A great benefit to this is that these processes are formalized in a way that if we experience staff change the tasks assigned to them are still visible and can be reassigned. We also now have a central place to store closing documents that can be viewed or updated as needed.
I use FloQast several times per week. On critical items like AR and Cash, if an item gets backdated or reversed FloQast notifies me that a balance has changed and I can react more quickly to those changing items.
Implementation was a breeze and required a few web meetings and an easy setup with our chart of accounts.
The learning academy and help guides are super helpful. More so than other systems we are using and hopefully others take note to make it easier to use and fun like what is provided by FloQast.
The staff I have dealt with at FloQast has been knowledgable, helpful, and certainly seemed genuinely interested in making sure my organization is using the product in a way that helps us.
I use FloQast several times per week. On critical items like AR and Cash, if an item gets backdated or reversed FloQast notifies me that a balance has changed and I can react more quickly to those changing items.
Implementation was a breeze and required a few web meetings and an easy setup with our chart of accounts.
The learning academy and help guides are super helpful. More so than other systems we are using and hopefully others take note to make it easier to use and fun like what is provided by FloQast.
The staff I have dealt with at FloQast has been knowledgable, helpful, and certainly seemed genuinely interested in making sure my organization is using the product in a way that helps us.
What do you dislike about the product?
I have been using FloQast since June 2023, I haven't found something I would say I dislike about FloQast. It has met or exceeded all of my expectations.
What problems is the product solving and how is that benefiting you?
Our primary reason for seeking FloQast was to have a central place to document closing activity due to staff changes. We needed a way to keep us on a schedule and to keep these tasks visible for everybody.
Floqast is an all in tool for financial closing
What do you like best about the product?
Interface
Checklist
Reminders
Sign offs from managers
Checklist
Reminders
Sign offs from managers
What do you dislike about the product?
Spreadsheet upload time and the fact that we have to enter #key manually
What problems is the product solving and how is that benefiting you?
It helps keep track of tasks and not forget anything in order to close properly.
Get off checklist spreadsheets and modernize your accounting calendar
What do you like best about the product?
They are a central repository for all your recons and checklists. Also a great tool to track your trends and overall progress towards the accounting close.
What do you dislike about the product?
Small issue, but would love if they had an audit log of all changes that took place in the checklist area.
What problems is the product solving and how is that benefiting you?
They are helping us complete our close on-time and accurately.
FloQast is like having an extra person on the team!
What do you like best about the product?
We love that FloQast tracks open items for us, instead of having to manually track them. It has increased our efficiency while decreasing the time spent reconciling and reviewing.
What do you dislike about the product?
Overall, no big downfalls of FloQast. If anything, I just wish the refresh was faster.
What problems is the product solving and how is that benefiting you?
Tracking of open items, alleviates the burden in audit/compliance, transparency/ease of reconciliation and review.
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