FloQast
FloQastReviews from AWS customer
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Great tool to organise tasks and reconcile accounts in a complex structure!
What do you like best about the product?
The application is very easy to use and very flexible to adapt.
What do you dislike about the product?
There is no way to create task dependencies or at least, I am yet to find this.
What problems is the product solving and how is that benefiting you?
Floqast helps to organise month end close, and integrate consolidated and stand alone financial statements line items for reconciliation.
The perfect organizing tool for Financial Close
What do you like best about the product?
I love the ease and ability of the software to click between entities and account groupings. For me to review hundreds of different GL accounts, FQ allows me and my team to keep all the reconcilations in one central location, especially with dozens of locations and entities. It keeps my head straight. Also, love the Remind feature to help streamline communication and requests needed from Finance to help perform our monthly close and analytics.
What do you dislike about the product?
The only negative item that is slightly frustrating is the timing of updating a linked workpaper with then appearing in the main FQ software. It doesn't take long but it's not immediate so if you update a work paper and then go back to FQ to submit the reconciliation you have to wait until the balance in FQ is updated.
What problems is the product solving and how is that benefiting you?
The main problem is trying to review and keep me head straight on hundreds of GL accounts each month and ensuring we book everything we need to from the accounts and if there are balances we understand what they are.
Great software and easy to implement and use
What do you like best about the product?
It's just so flexible and easy to use. We presently use it for our monthly close and reporting and will soon add in elements to ensure that budgets, year-end and half year reporting form part of our use too. Adding a user is easy; checking for missing reconciliations is easy; restricting and expanding user access is easy too!! To add to all this it integrates seamlessly with our ERP software too! As the Group Director of Finance I can also see how the teams are performing this month to plan and also have they have performed over time, to look for the big pinch points.
What do you dislike about the product?
Not much really! The only niggle I have is about not losing the top menus on the screen when you scroll in the reconciliation screen. However, I've provided feedback on that matter and am waiting for the change to be implemented.
What problems is the product solving and how is that benefiting you?
We now have a solution to keeping month-end close checklist and reconciliations process up to date and not relying on Excel. It's also an excellent tool for proving consistency, or not, with our internal auditors.
Super intuitive tool for accounting/finance processes
What do you like best about the product?
Easy to use and implement, can be modified to fit any process. great support team to support any request or question we have
What do you dislike about the product?
Not sure there are any significant cons.
What problems is the product solving and how is that benefiting you?
Most accounting and finance processes can be managed through it, enabling clarity, monitoring, and documenting of the critical points in the processes.
FloQast - very comprotable software to manage tasks and controls (audit and SOX needs)
What do you like best about the product?
the software is very easy and friendly to use. it assists our team with managing the tasks, and documentation of our reviews and documents. It is very easy to adjust to your needs.
What do you dislike about the product?
Most of the features in the software are good - I don't have anything that I dislike.
In general, I would try improving visibility and maybe add a personal profile.
In general, I would try improving visibility and maybe add a personal profile.
What problems is the product solving and how is that benefiting you?
First of all- SOX requirements. With the system, we can document our controls in an easy way and present them to our auditors.
Improving efficiency, fewer confusions.
collaboration between team members
Improving efficiency, fewer confusions.
collaboration between team members
Best Accounting Automation Software I have ever used
What do you like best about the product?
It helps me to timely reconcile all accounts assigned to me and also helps me to easily integrate it with MS Excel and our ERP system.
What do you dislike about the product?
It takes some time to update the changes made to reconciliations
What problems is the product solving and how is that benefiting you?
- Timely reminders on pending workflow
- Helping me to reconcile accounts more efficiently
- Helping me to reconcile accounts more efficiently
An excellent tool to add into your Close toolkit!
What do you like best about the product?
The best thing about FloQast is its simple user interface, comprehensive checklist module, and seamless integration between recons and flux reporting.
What do you dislike about the product?
There is nothing significant to callout.
What problems is the product solving and how is that benefiting you?
FloQast is helping remove silos and enabling our team to have better visibility into cross-functional dependencies and how we can close the books more efficiently.
Very happy user of FloQast Reconciliation
What do you like best about the product?
The Auto Reconciliation option is wonderful. It reduces a lot of work for me. The recon will automatically carry forward the old attachments as well. This comes handy particularly when there are no transactions in the account for the month.
What do you dislike about the product?
Sometimes the balance do not automatically refresh, we need to manually do it. But I would say this is not a drawback, since it does not take a long time to refresh the balances.
What problems is the product solving and how is that benefiting you?
The best thing that FloQast is helping me with is doing all my recons work which we are to maintain in Excel and keep track of it. FloQast sends reminders to timely complete the recons there by increasing my productivity in the Org
Great took to keep everyone on track for month end close
What do you like best about the product?
It clearly lets your team be aware, on top of, and track the status of various month-end tasks. Where we were doing this before in Google Sheets, this takes that and brings it into a more robust platform and sends reminders when things are missed, balances have changed, etc. It also provides analytics like how quickly it took to complete month-end close. Their support is top-notch. They are always willing and able to help out. They check in periodically to ensure we're using it to the best of our ability while also informing us of new product features.
What do you dislike about the product?
The costs. It is a bit steep for a startup. It's just a hard pill to swallow that your month-end close tracking and compliance tool can cost more than all of your accounting tech stack (i.e. QuickBooks, Bill.com, Gusto, Expensify, etc.).
What problems is the product solving and how is that benefiting you?
It helps us solve the fact that we were never really good at tracking our status of month-end close or fully understanding when balances changed and reconciliations needed to be redone. Before this, our month-end close was quite extended. It could still be shorter but at least we can now hold each other better accountable.
Clean cut
What do you like best about the product?
I like how well organized and clean cut I can easily check my progress each month. I also like the reminder they send out each month to remind me to go in and check my process.
What do you dislike about the product?
So far no dislikes on my end. I only use once a month and works perfect for my role.
What problems is the product solving and how is that benefiting you?
It helps me on track with my month-end closing process. It has the date needs to be done, so I can use it as my timeline guide to work on the priorities.
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