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Floqast Is Invaluable
What do you like best about the product?
A simple solution to an age old accounting issue. Analysis of the balance sheet is required "prior" to an effective close. For years, I have heard accountants profess that there is just not enough time to do so during the limited time available for the closing process. I interpret this as "I just don't have time to get things right". Floqast eliminates that excuse.
What do you dislike about the product?
The only issue I have encountered is an occasional problem with file maintenance. I understand that this is a necessary evil for control and security
What problems is the product solving and how is that benefiting you?
Simply ensures that we validate our balance sheets each month.
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Faster and Better Close with Floqast
What do you like best about the product?
Floqast lets us see exactly where we are within the close process. I know what tasks are coming due for myself and my team, which allows me to better manage delays or other challenges that come up. At any point in time, I can see where my team may be falling behind schedule without having to spend time on status meetings that further slow down the close process. The reconciliation function allows me to continue to use existing processes and spreadsheets that I have already customized to meet my needs, which made implementation faster and easier than expected. The review note functionality is simple to use, and emails from the system notify me when something needs my attention, so I can spend my time and energy focusing on tasks at hand. It is simple to add files or links to checklists or notes.
What do you dislike about the product?
You can find other platforms that offer more automation and other features, but if you're looking for an easy to implement, straightforward product to help you better monitor the close process and to document your reviews and approvals of close tasks, Floqast accomplishes it in a simple-to-use package.
What problems is the product solving and how is that benefiting you?
Our goal was not really to close faster but to do a better job of making sure we did everything we were supposed to do to close the books each month. Floqast helps us do that. We are monitoring all of our month-end close processes in real time and creating and keeping evidence of our internal controls. Checklists tasks are created, responsibilities are assigned and due dates are set, so our entire team knows what is expected as a part of month-end close. In turn, each team member knows what they need to focus on each day and can manage their time more effectively during the busy periods of close.
Floqast is especially useful when navigating absence or turnover within your accounting team. As a manager, I can trust that the tasks that need to be reassigned or covered are all included in my checklist because I have a single source-of-truth for what needs to be completed. Reassigning can be done in bulk or task-by-task and supporting files can be attached so they are easily accessible to new workers.
Floqast is especially useful when navigating absence or turnover within your accounting team. As a manager, I can trust that the tasks that need to be reassigned or covered are all included in my checklist because I have a single source-of-truth for what needs to be completed. Reassigning can be done in bulk or task-by-task and supporting files can be attached so they are easily accessible to new workers.
Recommendations to others considering the product:
Get buy-in from your team members who will be using the product. If they can see how Floqast will help them save time and energy, the move to using Floqast will be smoother.
We have managed to be consitent and beat our close timelines for 4 years since using FloQast
What do you like best about the product?
Keeping track of progress during the close, sign-offs on recons, setting variances, and auto reconcilations
What do you dislike about the product?
I think more work on the flux analysis is needed.
What problems is the product solving and how is that benefiting you?
Close checklists on line with status and sign-offs has help us acheive successful close timlines. Sox compliance is simplified with Recons with prepare and reviewer and variances.
Recommendations to others considering the product:
Get it!
Automated balance sheet reconciliation and month-end closing control with FloQast.
What do you like best about the product?
Using FloQast is easy and intuitive. All of the information needed is right on your screen to speed up the process.
What do you dislike about the product?
Would like to be able to change the preparers and approvers easier.
What problems is the product solving and how is that benefiting you?
One of the benefits is the ability to check the progress of closing and balance sheet reconciliations quickly. Also, it is helpful to be able to enter comments and follow up questions for the preparer to respond to.
Recommendations to others considering the product:
FloQast is an outstanding product for automating and giving you control over the month-end closing and the reconciliation of balance sheets. It is easy to use and will save you a lot of time on both tasks.
Best Software Experience I have ever had
What do you like best about the product?
Everything is so easy to use. You do not need to be an expert to know how to use it. It is built by accountants for accountants and it shows. I love that they always ask for feedback and act on that feedback.
What do you dislike about the product?
I really cannot think of anything i dislike.
What problems is the product solving and how is that benefiting you?
Communicating Globally and keeping track of tacks for large accounting departments has always been a struggle. With FloQast, Mananaging close is easy. They also have implemented helpful tools to help us speed up, such as autorecs for cash and prepaids!
Recommendations to others considering the product:
I would reccomend you try FloQast. There are so many capabilities and they are always expanding and adding service!
Staff Accountant
What do you like best about the product?
I really like how it notifies you the changes in your reconciliation between the TB and the work-paper which prompts your attention to investigate and true your balance to the correct number. It's also a great tracker that keeps you on time and prompts you to focus on priorities at hand.
What do you dislike about the product?
One of the drawback is that it notifies you of how many outstanding items you have but no hyperlinks to identify those items. Hopefully with the new changes this may update. In addition, I hope the TB upload will be quicker than waiting for half an hour for the changes to occur. For instance, if I want to reconcile a particular cash account between the book versus the TB, I have to wait for the TB for 30 mins to update my changes and during that time I'm on to something else.
What problems is the product solving and how is that benefiting you?
The drawback to Floqast is that when you are trying to save a file, it limits certain characters so you can't save the file directly into the Floqast folder. I would have to save my file on the desktop, rename or shorten the name of the file and then puts into the Floqast folder.
The greatest benefits with Floqast is that it keeps me focus on meeting my deadlines. It helps me stick to the monthly task that I have to do and keeps my priorities straight. The task listed in the checklist is a reminder for me to not forget these process so that I can complete my task without open holes. Prior to Floqast, I was forgetting to do certain tasks in the fixed assets module but with Floqast and the sign offs, it keeps me on track and crosses all my "t" and dots my "i".
The greatest benefits with Floqast is that it keeps me focus on meeting my deadlines. It helps me stick to the monthly task that I have to do and keeps my priorities straight. The task listed in the checklist is a reminder for me to not forget these process so that I can complete my task without open holes. Prior to Floqast, I was forgetting to do certain tasks in the fixed assets module but with Floqast and the sign offs, it keeps me on track and crosses all my "t" and dots my "i".
My Floqast Review
What do you like best about the product?
Its great for period close and keeping track of the period close status
What do you dislike about the product?
Some of the UI needs to be more user friendly
What problems is the product solving and how is that benefiting you?
Period close have been great because it minimizes the amount of emails we need to send each close. It helps with the inbox management during our period close
Recommendations to others considering the product:
It is a great tool to use for accounting period end
Love floqast!
What do you like best about the product?
Floqast makes the financial close process easier to navigate and keep track of.
What do you dislike about the product?
Sometimes refreshing the Reconciliations page takes a couple of tries to refresh.
What problems is the product solving and how is that benefiting you?
It has helped us reduce our close time by making it easier to visualize our checklists and close goals.
User friendly and easy to navigate
What do you like best about the product?
Ease of navigation. Simplistic style and straightforward details.
What do you dislike about the product?
It would be nice if Floqast would talk to our ERP system so it can update the account balances automatically without having to import financials daily.
What problems is the product solving and how is that benefiting you?
Floqast makes it easy for multiple employees to look at the same data and see what does not reconcile real time. It makes things easy to read for people who aren't accountants.
Recommendations to others considering the product:
Trial period is a must! There are things FloQast can do that you might not even realize would help processes go more smoothly!
FloQast - Let the Close Process be automated
What do you like best about the product?
A centralized place where numerous tasks are monitored and reconciliations are accessible with ease. The fact our Accounting Team is decentralized and 100% virtual is not a problem anymore because of FloQast. The fact it is customizable and synced to our Accounting System (Sage Intacct) is a tremendous blessing. Our accounting team's efficiency has improved significantly since implementing FloQast.
What do you dislike about the product?
Supporting Documentation can be limited to Excel spreadsheets, but staff can address this limit by copying and pasting screenshots of actual supporting documentation or links to other documentation.
What problems is the product solving and how is that benefiting you?
The problem was tracking over 100 recurring tasks and reconciliations with evidence of review. Our Virtual team and efficient monitoring of Accounting team within FloQast has made it easier for us to focus on our tasks monthly and made the audit preparation process closer to 100% complete before the audit fieldwork started.
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