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FloQast

FloQast

Overview

What is FloQast?

FloQast offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.

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Recent Reviews

Amazing Tracking Tool

9 out of 10
January 04, 2024
Incentivized
We use FloQast to manage all aspects of our close and post-close processes. It allows for tracking of our tasks so that we know at any …
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The best!

10 out of 10
January 02, 2024
Incentivized
We use FloQast for our monthly and annual reconciliations. It is a great tool for managing the close. FloQast helps identify where …
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How FloQast Differs From Its Competitors

Automation

We may not be using all the modules of FloQast but the maintenance of the checklist account reconciliations and flux analysis are indeed benefiting us in the timely closure of books of account regularly and running a business effectively.
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Audit Readiness

The nature of FloQast is audit readiness. Helps us prepare for the audit all year long. Documenting Reconciliations, signing off on controls/tasks, etc.
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Automation

We have been mainly using Flux Analysis and it has greatly improved how we present financial results and call out any variances month over month.
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Automation

As we grow in complexity (IPO ready) as well as in international entities, FQ has made it easy to stay on top of all these new and additional steps. As teams grow, easy to add new EE's into the workflow, and even as teams shift, even easier to allocate tasks to other team members. They really have …
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Audit Readiness

We rely on FQ as a sanity check that all documents agree to the TB; no more going through each document to make sure it ties; if the balance ever goes out of balance, it informs us, and we correct it. We can also add Auditors to FQ so they can see the audit trail of the approval process.
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Automation

FloQast has been a great tool to ensure completeness of non-close related tasks, including tax filings, financial statement review, and business process controls. While the idea of ReMind was very relevant to the use cases of Accounting teams, we didn’t find it more efficient than just using …
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Audit Readiness

This has been a game-changer for audit management. Allowing audit access to view files directly saves the team time to focus on answering more complex audit questions and day-to-day accounting operations. It has also been a great way to track and ensure the completion of business process controls.
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Automation

Reconciliations are much easier to prepare and review. Prior to implementing FloQast, our recs were prepared in hundreds of individual Excel files and saved on our shared drives. Knowing when they were ready to review and keeping track of which were fully prepared and reviewed was one of the main …
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Audit Readiness

FloQast has had a significant impact on our controls. Assignment of tasks, due dates, review processes, review notes, task attachments, etc. have all been written into our accounting key controls. Providing journal entry and reporting support to our internal audit team is now much easier since we …
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Automation

We currently, use the standard workflows for the financial close (checklist/reconciliations). As mentioned previously, we've cut down on overhead significantly by using FloQast. We've tested the Flux Analysis and had a demon on Remind but haven't felt that the benefit outways the costs yet. As …
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Automation

We may not be using all the modules of FloQast but the maintenance of the checklist account reconciliations and flux analysis are indeed benefiting us in the timely closure of books of account regularly and running a business effectively.
Continue reading

Automation

FloQast ops is a great tool to use to save time. By setting up the different tasks/projects, it helps create a timeline where I can follow to see if we are on track to complete certain tasks/projects. It takes some time to set up, but once done, it is great.
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Audit Readiness

Being able to give auditors access to FloQast definitely saves our organization a lot of time. It cuts the time from having to track pbc support and upload/send to the auditors. Having the reconciliations and documents located in FloQast makes it much easier and smoother during the annual audit.
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Automation

We can set up automated rules to set up which flux items are critical to review, investigate, and respond to based upon dollar or percentage variances. This has been extremely helpful to allow the team to focus more intently on those areas of greater importance and I have noticed that as a result …
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Audit Readiness

Our auditors were very impressed when we were able to show them our reconciliation documentation and sign-offs and it greatly reduced our time spent on capturing and documenting approvals. We've also incorporated audit workflows into our own process so we can track and assign audit PBC tasks …
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Automation

Floqast's automation tools have streamlined our close process and reduced the time needed to maintain monthly excel templates and automated recurring outreach emails. In addition we are able to standardize reconciliation thresholds and enforce them systematically whereas in the past we were …
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Audit Readiness

Floqast centralizes documentation for the financial close which makes it easy for us to pull supporting documentation around entries made.

We aren't there yet but ideally the auditor feature will allow us to grant auditors access to pull files directly from our close tool rather than having our …
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Automation

I only use the Reconciliation Management and this has been great, to get notified once something is out of balance. This also, keeps us on track for reconciliation being 100% completed with oversight (approvals).
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Automation

We utilize the Ops workflow for all of our payroll processing, which has helped us stay focused and connected on arguably the most important piece of business operations in regards to it's people. ReMind is also an excellent tool that we just haven't been able to take full advantage of yet
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Automation

We use reconciliation management to handle all account reconciliations across all global entities and it allows us to monitor deadlines and ensure any changes are identified and re-reconciled to ensure SOX compliance.
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Audit Readiness

We are able to provide both internal and external auditors with access to Floqast which reduces the number of requests we have to actively manage during audits. Floqast also actively monitors changes to GL or account reconciliations to provide confidence that any changes resulting in unreconciled …
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Audit Readiness

I'm not as involved with this process but I can see how it easy it makes it to locate and access backup for auditing purposes. It also creates transparency and it protects the integrity of our reporting
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Automation

We use FloQast Ops workflows for several processes, and having the repeating cycles populate each month makes a huge difference for efficiency.

One of the simplest features on the face of it, the document roll-forward, is also one of the most powerful - it removes the tedium of endless creating new …
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Automation

Unfortunately, we have not yet utilized these features. However, one of our 2024 goals is to begin using the flux analysis feature in order to store our P&L review in the same location as the balance sheet reconciliations and ensure the final adjustments flow through to represent the final P&L …
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Audit Readiness

One of our internal controls is that all significant balance sheet accounts are reconciled and reviewed. We are able to simply download the balance sheet reconciliation list from Floqast which shows who completed the rec and which date and also who reviewed the rec and the date. This takes 30 …
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Automation

On an individual level, FloQast Ops workflows has been huge for me as an employee with a large to-do list each week. I am a very organized person, but prior to FloQast I was always concerned I was going to forget a task because I didn't have an efficient way of tracking my to-do items. The …
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Audit Readiness

I have not been directly involved in any of the audit features but I hope to in the future! I do know that other employees in our company use them frequently and only have great things to say. I am confident FloQast's audit readiness tools are as excellent as their other features.
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Automation

Reconciliation management has been a useful tool in ensuring that our monthly reconciliations stay up to date, even when the numbers start to change. The ReMind tool is also fantastic, and saves you from having to remember to send out the same request over and over. It doesn't seem to bother …
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Audit Readiness

FloQast does allow auditors to access, however our IT does not allow for that. The setup we have in OneDrive though makes it easy to just take a reconciliation and drop it into whatever online portal the auditors use. This was a huge time savor for me, and on top of that you can easily provide one …
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Automation

FloQast Reconciliation Management has been an absolute game changer for our team. We have been able to continue operating while growing 20%+ year in volume without adding additional teammates as we are able to automation so much of our reconciliation process. Without FloQast, we were looking at …
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Audit Readiness

We have not utilized FloQast's audit report tools significantly to date. We are able to quickly pull reconciliations for all accounts and provide to the auditors as needed. This is an area of opportunity for us to utilize the software further and continue to increase our demonstration of internal …
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Automation

FloQast Reconciliation Management is obviously a must-have feature for all finance groups. Our Auditors used FloQast for the auditing process. The ReMind is a huge time saver for monthly request of financial information from different users. It makes multiple requests for each session, which can …
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 5 features
  • Customizable Workflows (92)
    9.3
    93%
  • Financial data consolidation (67)
    9.0
    90%
  • Detailed Audit Trails (77)
    8.9
    89%
  • Journal entries and reports (52)
    8.1
    81%

Reviewer Pros & Cons

View all pros & cons
Verified User
Manager in Finance and Accounting
Financial Services Company, 1001-5000 employees
Verified User
Manager in Finance and Accounting
Computer Software Company, 1001-5000 employees
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Pricing

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FloQast

FloQast

N/A
Unavailable

What is FloQast?

FloQast offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.

Entry-level set up fee?

  • Setup fee required
For the latest information on pricing, visithttp://floqast.com/pricing

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Would you like us to let the vendor know that you want pricing?

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Features

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

8.5
Avg 8.4
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Product Details

What is FloQast?

FloQast is a Finance and Accounting Operations Platform boasting users among accounting teams that include Twilio, the Los Angeles Lakers, Zoom, and Snowflake. FloQast enhances the way accounting teams manage their Financial Close, Finance and Accounting Operations, and Compliance Programs. With FloQast, teams can utilize AI technology to manage every aspect of the month-end Close, reduce their compliance burden, stay audit-ready, and improve accuracy, visibility, and collaboration throughout the financial function. Learn more at FloQast.com.

FloQast Features

  • Supported: Transforms Excel monthly close checklists into a cloud-based collaboration tool
  • Supported: Works with the user's general ledger and Excel workbooks to link them dynamically

FloQast Screenshots

Screenshot of the analytics that displays progress throughout the closeScreenshot of flux analysisScreenshot of reconciliations

FloQast Integrations

FloQast Competitors

FloQast Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo
Supported LanguagesEnglish

FloQast Downloadables

Frequently Asked Questions

FloQast offers their financial close software to streamline accounting month end close, simply providing automation around reconciliation and eliminating human error, and visibility via a close status dashboard, as well as providing a complete audit trail.

BlackLine, Vena, and Wolters Kluwer CCH® Tagetik are common alternatives for FloQast.

Reviewers rate Customizable Workflows highest, with a score of 9.3.

The most common users of FloQast are from Mid-sized Companies (51-1,000 employees).
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Comparisons

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Reviews and Ratings

(205)

Attribute Ratings

Reviews

(1-9 of 9)
Companies can't remove reviews or game the system. Here's why
December 22, 2023

Great Program

Verified User
Administrative Assistant in Corporate
Transportation/Trucking/Railroad Company, 201-500 employees
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Users and Roles
7
Reconciling accounts in our accounting department and helping with closing the books each month and also at year end.
December 22, 2023

Close Fast with FLoQast

DeAnn Burnett | TrustRadius Reviewer
DeAnn Burnett
Corporate Staff Accountant
Arizona Pipeline Company (Accounting, 1001-5000 employees)
Score 10 out of 10
Vetted Review
Verified User
Incentivized
Users and Roles
6
the Company Controller, Accounting supervisor, Two Accounts Payable personnel, and Myself. We all complete our bank reconciliations and check-off list for monthly close. We verify the tasks of others to ensure that it is balanced and complete. I have several check off lists, such as monthly aging reports, depreciation reporting, bank reconciliations, and many more.
March 22, 2023

Close Made Seemless with FloQast!

AM
Ahmad Maki
Senior Accountant
DealerSocket (Accounting, 51-200 employees)
Score 8 out of 10
Vetted Review
Verified User
Incentivized
Users and Roles
7
The Accounting team has access to checklist and reconciliations and complete the assigned activities on a monthly basis before or on the due date. The accounting manager then can go in and review the activity, check the general ledger and verify that the reconciliation is complete and accurate. This is important because we have quarterly flux analysis that needs to be submitted to corporate accounting on time.

Finance can also check the process and review certain items and balances and request more feedback if necessary.

Internal Audit has a process as well, and they ensure that our department is audit ready and activities are segregated. IT also has a roll which is add new users, remove users, and troubleshoot any errors.
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