FloQast Software

Amazing software for closing the books with confidence!

We previously did not have a review process, so FloQast has made this transition seamless. Instead of having to constantly open an Excel checklist to see where we were in the close, with FloQast we can easily see exactly what's pending. The biggest benefits are increased organization, efficiency, and visibility.

Pros

I love how much more organized our accounting documentation is, as well as how much more visibility we have into our month-end close process. I know that our trial balance will always tie out to reviewed reconciliation schedules, which in turn allows me to hand over the financials with confidence. Also, the implementation process was a breeze and only required a couple of hours of my time (much easier than I thought it would be).

Cons

Having to manually upload the trial balance as of right now, but I've been promised that this is something that can be automated.

The customer support is excellent. The system is very useful for month-end close.

Pros

It has made the managing of month-end close tasks a lot easier as everything from tasks to reconciliations can be entered as a task to complete and is easily trackable.

Cons

There is not much communication between FloQast and the ERP system aside from looking up account balances.

Floqast allowed us to efficiently implement a month end close process making review easier

Better insight into our month end close for timeliness and accuracy.

Pros

The pros are ease of use and modification. The website is intuitive to use and has good visuals. The ability to link to our existing process allowed for easy implementation and instruction to our staff. The customer support has also been great with short response times for almost any issue. The FQ team have regularly reached out regarding additional items that could be added to the platform as well.

Cons

One of the cons we have run into is our use of OneDrive but some of our connectivity issues are not attributed to Floqast specifically. The biggest downside for our use of the system has been the inability to separate reviewer and preparer from having something due. If the preparer has not completed the task it is still shown as open for the reviewer. This also affects analytics as a reviewer can't control the timeliness of the preparer in some cases.

I like FloQast!

Pros

It helps the team to focus on close related items and manage reconciliations in more time efficient manner.

Cons

It does not provide any notification if the previous month reconciliation is out of balance.
It would be great if FloQast can show the comments or notes in separate column next to the checklist or reconciliation rather than hiding it.

FloQast makes it easy for our team to stary organized and on-track during the month close.

Faster close process, less likely that items will be missed each month / quarter.

Pros

The ease of organizing and also checking off and reviewing tasks including the notes feature make this software a very valuable asset to our team.

Cons

Can't think of anything I dislike - maybe the email notifications could be improved to be more current.

FloQast is a great application for the money.

Account reconciliation is a huge benefit that brought the Company's reconciliation process under control.

Pros

Ease of use and modify the Checklist. Account reconciliation is easy to understand. I also appreciate the technical and client support and responsiveness to our queries.

Cons

Ability to modify the Completed Date outside of the default current date would allow us to populate field to the actual date a task is completed.

Good tool to keep track

Pros

Keeps track of checklist and outstanding items, keeps updating changes in accounting software, highlights imbalances.

Cons

Desire for more - I would like to use the tool more on the analytics and enhanced review. Keen to see what new features keep coming in

Invaluable to our organization in standardizing our financial close

Pros

The reconciliation feature is what our team enjoys the most about the software . It has really transformed our review process.

Cons

Dashboard view is limited at the summary level.
Cannot filter notes by who I have assigned them to.

FloQast has helped us better organize our close process and keep on track.

Pros

Sign offs, everything you need for review is in one spot. Integration with Intacct and box.com. High quality customer service.

Cons

This has more to do with cloud storage providers than FQ. We would like to be able to sync box.com (or another provider) with our server rather than having to save files directly, but have been unable to find a solution for this. Our IT policy does not allow us to sync from our desktops.

We quickly saw improvement in completeness and efficiency in closing the month.

Pros

The ability to have all the information at the same place for all our companies on the globe. This gives us the ability to streamline our closing process.

Cons

Decreases the communication with the team members which is a good thing but can become bad if you don't keep contact and you seem disconnected with the team.

User friendly, I love it.

FloQast helped us streamline our month end check list and gave us a better structure to eliminate errors and be more efficient.

Pros

The sorting feature is great. I enjoy the ability to be able to see what I have due and whether or not it is complete.

Cons

Wish I could sort by other people. There are times when I am waiting on others to get a part of their job done before I can begin working on my task so using a filter to search by other individuals would be great.

FloQast gives me outstanding visibility regarding the close status and account reconciliations

Strong visibility and comfort regrading the status of the accounting close.

Pros

I like the reconciliation function that allows me to see the account reconciliation status and whether the recons have been reviewed and approved. The reconciliation tool integrates with NetSuite to identify unreconciled accounts and whether all the recons have been prepared, using a completeness check.

Cons

I find adding new subsidiaries, which includes a new checklist items, setting up recons and ensuring that storage provider is accurately set-up a challenge at times.

Great for accounting close and reconciliations

Pros

The look of the interface is really clean and easy to use. We like using it a lot for our monthly accounting close to keep on top of everything.

Easy and great customer service

Pros

The software is very user friendly, everything is in one place and has easy audit trails. The customer service is excellent and there are very quick responses. They also have implemented many of our suggestions.

Cons

It would be nice to have aging for the reconciliations and the ability for customer fields in the checklists.

FloQast makes my life so much easier. I have clients and don't know how I would manage without FQ!

Pros

The dashboard is a great way to stay organized and make sure all tasks and deadlines are met efficiently and effectively. The review notes are very handy for communicating any questions or comments to other team members.

Cons

I have found some of the administrative functions to be a little cumbersome but no issues with the basic user features.

Probably one of the best products for accountants in years.

It helped us effectively transition from a quarterly close process to a monthly close process. Additionally, it has helped us to organize and streamline our balance sheet reconciliations while eliminating wasteful processes.

Pros

I love the hash-tag feature because it provides the user with the flexibility and computational power of Excel with the robustness of a reconciliation data warehouse. Additionally, the checklist feature is a great way to plan out your month and your financial close. We also use FloQast to capture audit evidence surrounding review and approvals. This has been paramount to our success in both internal and external audits.

Cons

I wish you could rename folders within the FloQast application; however, I have faith that this feature will be added with time.

Amazingly Efficient Tool With Outstanding Support Service!

Pros

As the person who reviews most of the Balance Sheet accounts in my organization, I am very satisfied with this product.
With daily uploads of the updated trial balance, FloQast lets me know at a glance, which accounts are out of balance. I am able to write comments, ask specific questions to the accountant in charge of reconciling the account directly within the software application. It is practical and user friendly. All of our reconciliations, support schedules and documents are located in one place. It is easily accessible to our accountants and managers, thus greatly improving our month and year-end processing.
The FloQast support service is outstanding. They are very knowledgeable and always friendly and professional.

Cons

They are virtually nonexistent. This is not a stagnant program. With the willingness to take customer feedback seriously and apply new technology, I am certain FloQast will be continuously improving.

Wonderful customer service! Great product for month end closes!

Pros

Gives me a great feel of where we are in the month end closing process without having to go around and bug my team to see where they are at or what they have left to finish.

GREAT customer service!! No matter who I contact, they are quick to email back and fix any issue.

Cons

Going back and forth between BOX and FloQast. If we had multiple additional hours to add all of our reconciliations to BOX, it might be helpful for year end close. We tried doing so when we first started using FloQast (when all uploads weren't carried forward month to month), but we haven't done any uploads recently.

Excellent Product with Excellent Support

Pros

It's an excellent tool for accounting management to control the closing process and review reconciliations. The implementation was very easy setup by FloQast team. The administration part is very straightforward. FloQast provided great training and the program has been constantly updated with better tools and functions.

Cons

The calendar setup probably can be more flexible. We are trying to let our payroll team to use the closing process for bi-weekly payroll schedule but the calendar is more setup for accounting closing purpose with monthly, quarterly and annual calendar.

A fantastic tool to replace our spreadsheet checklists!

Pros

FloQast has greatly improved the completeness of our close and has forced and documented much needed reviews. The customer service and ease of use are phenomenal and they seem to be constantly wanting to improve. We are a small-med sized business and our finance staff is spread over 4 countries. Most of our systems are on the cloud and this software fit in perfectly.

Cons

The cons are minor. Since there are two systems in use you have to sometimes toggle between OneDrive (or whatever you use) and FloQast but it works well if you have both open. FQ currently doesn't have a filter for reviewer vs. preparer on the "due" list but they are working on it. Since I mostly review this can be annoying.