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Month-end close for a digital and remote accounting organization
What do you like best about the product?
We adopted FloQast shortly after our organization went from being in the office daily to working remotely during the pandemic. Having our month-end close checklists and documentation on an online platform saved us. We have better insight into the progress of our month-end close and are better able track our reviews and sign-offs each month. Plus the reconciliation process is much easier now as we can quickly see which reconciliations need attention when subsequent journal entries are needed to correct items.
What do you dislike about the product?
It is tough to find complaints about FQ. We have run into technical challenges (as expected with any platform); however, our reps quickly help us resolve those issues. If I could ask more from FloQast, it would be to create a connected SEC filing platform that could take all that data and documentation already included in our month-end files and feed it into our 10-K/Qs.
What problems is the product solving and how is that benefiting you?
FloQast has provided us with a digitized month-end close process that works great whether you are working remotely or at the office. Using FloQast has enabled us to consistently close our books on time each month.
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Organization full circle
What do you like best about the product?
I love that floqast has clear visibility of all tasks. It's easy to update and share with teammates and eliminates the dreaded endless emails. I don't have to ask someone if something is done or ask for the info associated. I can go check myself.
What do you dislike about the product?
I have floqast connected to my Teams (which I love). I do think that it can give too many reminders at times. I personally also don't like that my tasks are considered late if I can't start because of another late task.
What problems is the product solving and how is that benefiting you?
Communication, visibility and organization! We had so many emails flying around, mainly if updates occurred. I always had people asking me for backup to my work. Now everyone has access and can see the process, communication and data involved.
FloQast is a great tool
What do you like best about the product?
FloQast makes it easy to track monthly tasks and reconciliations
What do you dislike about the product?
There is nothing I dislike about FloQast
What problems is the product solving and how is that benefiting you?
We have been able to eliminate Excel task tracking which was often not up to date
Closing entities with Floqast
What do you like best about the product?
The best part of Floqast is the user friendliness. Everything is very well organized and accesible. Anyone can begin using Floqast with a very minimal amount of training.
What do you dislike about the product?
The least helpful thing about Floqast is the new dashboard. It does not allow you to easily see all of your entities and compare to see where each of them stand.
What problems is the product solving and how is that benefiting you?
Floqast allows me to keep all of my responsibilities organized and in one space so that I can keep track of what has been done for each month and what still needs to be done.
Great UI, easy for users
What do you like best about the product?
FloQast has a really slick UI which is easy to navigate for end users. The reminders are generally helpful and can be done via email or Slack or other means. Generally only takes a few clicks to get tasks done and is easily filtered to show only what users care about.
What do you dislike about the product?
FloQast is best suited for small and mid-size companies as getting into some greater complexities around intercompany matching, foreign translations, complex SOX and audit control certifications, and administering it can be a little clunky or non-functional. Permissions aren't able to be customized by every entity set up, and creating so many entities in FloQast can mean lots of documents, Excel files, and too many reconciliations if you have lots of locations.
What problems is the product solving and how is that benefiting you?
FloQast allows us to centralize our close checklist and reconciliations, provides sign-offs and dates as well as locking our dropbox folders to show control over documents and give evidence of month end close completion.
Ease of doing reconciliations thanks to FloQast
What do you like best about the product?
FloQast and Intacct integration/interface
What do you dislike about the product?
The refreshing function is pretty slow, so wish that was something expedited for ease of completing recons and checklist items.
What problems is the product solving and how is that benefiting you?
Recently started using the flux analysis function and can now address those sooner for the close process
Makes Financial Close Easier
What do you like best about the product?
Ease of use for creating custom checklists to help keep track of the financial close progress
What do you dislike about the product?
Nothing comes to mind, FloQast is a solid product
What problems is the product solving and how is that benefiting you?
Allowing my team to stay in sync as we work remotely together to close the books
A smart site for monthly reconciliation.
What do you like best about the product?
User friendly with easy audit trails, helps to hit deadlines
What do you dislike about the product?
Some administrative functions can prove challenging.
What problems is the product solving and how is that benefiting you?
Minimizes human error.
Auditors love it
What do you like best about the product?
Great for setting up checklists and formalizing the documentation for performing control activities.
What do you dislike about the product?
Licensing costs restricts the amount of users who are not heavy users from getting access. It would be great if we could assign non-accounting users to checklists.
What problems is the product solving and how is that benefiting you?
With checklists Floqast helps to ensure all critical tasks are completed. With recons automation helps ensure the TB and Recs are up-to-date and accurate.
easy to use and track assignment status
What do you like best about the product?
Floquest is very easy to use and tracks assignment status. It is very cool that it can link to excel data automatically. It's very convenient to see what is outstanding that needs to be done.
What do you dislike about the product?
I have been using Floquest for the past three months, and I like it very much. One thing I noticed is that if an assignment is assigned to multiple people, and after all the people are done with the task, if there is a small discrepancy, for example $20, none of the people can sign off the assignment. I know that if an assignment is assigned to one person and if there is a discrepancy, that person can still sign off the assignment.
What problems is the product solving and how is that benefiting you?
It is easier for reviewers to keep track of the status of all the assignments. It is also very convenient to pull the support workpapers by clicking any numbers, which save a lot of time to pull the workpapers manually.
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