FloQast
FloQastReviews from AWS customer
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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.
Great tool for accounting close management
What do you like best about the product?
FloQast is very easy and quick to set up. Great tool for managing the accounting close process in terms of reconciliation, flux analysis, review and approval documentation etc.
What do you dislike about the product?
FloQast has been great in my experience and everything works out well so far!
What problems is the product solving and how is that benefiting you?
Our team uses FloQast to keep track of all closing activities and FloQast makes it easy for everyone to see the status, review and approval of all tasks.
Great Accounting Close Tool
What do you like best about the product?
The ability to track close progress via checklists and recons is crucial for a smooth close. You can have quarterly or monthly tasks to limit the number of things to sign off on during non-quarter-end tasks.
What do you dislike about the product?
It doesn't seem to automatically refresh data. It also only notifies an account that is out of balance if its variance is a specific amount. It would be more helpful to get a notification if an account was reconciled and signed off, and then changed after, causing it to become out of reconciliation.
The ability to combine Floqast with other recon tools like Blackline or other Floqast Orgs to get a consolidated view would be beneficial (aka Redfin corp uses it but so does RentPath, but our orgs use it separately and we have to manually combine the two when looking at aggregage variances).
The ability to combine Floqast with other recon tools like Blackline or other Floqast Orgs to get a consolidated view would be beneficial (aka Redfin corp uses it but so does RentPath, but our orgs use it separately and we have to manually combine the two when looking at aggregage variances).
What problems is the product solving and how is that benefiting you?
Aids in our aggregation risk analysis, where we ensure that on an individual and aggregated basis, no reconcilation goes over our SOX threshold. It also helps us with smoothing out our close process to ensure everything has been completed.
Easy to use, great support
What do you like best about the product?
User interface is straightforward, filtering is great, easy and quick to refresh data from NetSuite and supporting workbooks.
What do you dislike about the product?
Bank rec module could be expanded to add auto-import of bank BAI2 files, and auto-creation of bank entries to push to NetSuite based on defined rules.
What problems is the product solving and how is that benefiting you?
Makes tracking close very easy. The user interface is intuitive and easy to update for changes
Floqast is great and has really helped us manage our monthly close.
What do you like best about the product?
I love how you can link your reconciliations to the accounting software, and ensure you are reconciled. I also really appreciate the to do/task list you can set up for monthly, quarterly or annual items.
What do you dislike about the product?
Areas of improvement I could see for Floqast would be having it perhaps be more applicable during the month vs only utilized during month end close. I know there are features you can use through the more, but they are not as necessary as the features during month end close.
What problems is the product solving and how is that benefiting you?
The biggest benefit I have seen with floqast is the ability to share and review reconciliations across the organization with ease. Previously everyone has their own excel on their desktop, we wouldn't know when something was not reconciled, and overall it was not as transparent.
Cut our close in half!
What do you like best about the product?
The first thing that stood out to me was how user friendly FloQast is. It's appealing to the eyes and super easy to navigate. It is so organized and can be useful to small or big companies, the capabilities are fantastic. Once we implemented FloQast we went from a 12-day close to 6! It was a great tool to hold people accountable. Another favorite about FQ is the flux capability.
What do you dislike about the product?
The only thing I wish it had was the capabilities to have access to view prior periods notes and flux explantions in the current window you are working in. At the moment you have to open a new window and pull up the prior month to compare.
What problems is the product solving and how is that benefiting you?
Instead of having to slack managers that something is ready to review, FQ will notify them that something is ready for review. It also helps with keeping an organized list of tasks to do so people don't forget!
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