Increased efficiency, visibility, and collaboration - your future self will thank you for using FloQast!
December 29, 2023

Increased efficiency, visibility, and collaboration - your future self will thank you for using FloQast!

Emma Noren | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Modules Used

  • FloQast Close

Overall Satisfaction with FloQast

My company uses FloQast primarily for month-end close. Prior to FloQast my close checklist consisted of an excel spreadsheet with haphazard notes, and it was difficult to keep track of what tasks I already completed and which items were still open. Additionally, there wasn't an easy way to see if account balances had changed post reconciliation, and all of my reconciliation reporting was very scattered. Enter FloQast. FloQast's dashboard shows you your progress for close, down to which items are late or on-time, what's still left to do, etc. All of my close GL accounts are in one place, I can easily see if an account balance has changed, I can see what tasks need to be done by a certain date, and on top of that it's incredibly user friendly. The approval feature is excellent as well, as you can add multiple approvers to review the work that's been done before locking the account. The aesthetic of the site is visually pleasing as well, which is a plus. It's massively changed how we do close tasks and I honestly can't imagine pulling out my Excel spreadsheets and going back to my old methods.
  • Allows the user to stay organized, consolidating all tasks into one place
  • Allows the user to see quickly and obviously if an account balance has changed since it's been reconciled, which is great if there are multiple QB users
  • Allows the user to set deadlines for weekly and close tasks so you always know when an item is due
  • Gives you a snapshot of your close and/or weekly progress in the dashboard so you know exactly what needs to be tackled
  • I would love to see a more customizable dashboard, where users could change the color themes and make it a bit more tailored to them
  • When uploading a new trial balance, it can take a few "refresh" clicks before the new balances are uploaded - this is a very minor thing, but that could be a bit faster
  • I believe the minimum user amount is currently six users - it would be really cool to see a small business version of FloQast for a lower rate so smaller companies could still access these features
  • As an employee I am much more efficient in my work flow, and I feel that I can get more tasks done with FloQast as my guide than when I just used an Excel to-do list
  • Our team collaborates more on tasks and close items because of FloQast - being able to assign roles for each item (ex: someone to review or approve) has been great because there are several sets of eyes on each item and we are able to work together to get everything done.
  • Visibility is greatly improved - FloQast provides us with an excellent snapshot of where our clients' books are at, where we are on close items, and visibility on personal to-do items as well.
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 non-close items in FloQast really revolutionized my work flow and I feel so much more efficient, as well as confident that I am completing all my tasks, on-time, and nothing is slipping through the cracks. On a broader scale, FloQast's Reconciliation Management features have completely revamped how our company approaches month-end close. We are so much more organized, accurate, and efficient, and I can confidently say I am able to get close tasks done more quickly because of FloQast's features. The task deadlines, reconciliation features, and team approvals are particularly helpful for me.
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.
I have experience using Asana and Jira in previous jobs and while they are both useful, neither are tailored to accounting. That is where I feel that FloQast truly shines - there are so many features that other project management softwares are lacking, and after using FloQast as an accounting associate, I can't imagine going back to these other softwares if I were to use them in the accounting context. Specifically, FloQast's Reconciliation features and Close Management are so clearly designed by accountants, for accountants, and truly make close tasks so much more efficient and organized. Jira and Asana are incredible project management tools, but are not tailored to the accounting world in the way that FloQast absolutely is.

Do you think FloQast delivers good value for the price?

Yes

Are you happy with FloQast's feature set?

Yes

Did FloQast live up to sales and marketing promises?

Yes

Did implementation of FloQast go as expected?

Yes

Would you buy FloQast again?

Yes

I feel that any company that wants clean accounting would absolutely benefit from using FloQast. Our company uses it with all of our clients, across a broad range of industries, and it is universally applicable. Recently we onboarded a new client whose books were several months behind, with a ton of items missing and hardly any reconciliation or close work done. FloQast was absolutely integral to us getting their books caught up, organized, and all of the close items in one place. Once the catch-up work was done, the following months' closes were so much smoother and more organized, and we were able to stick to our close deadlines consistently, all because of FloQast. Additionally, when I first started working for my company, one of the first things I was able to do was put all of my weekly task items into FloQast in the non-close section. It was very helpful to be able to check off my tasks each week, and allowed me to feel confident that there weren't items I was missing or forgetting to complete.

FloQast Feature Ratings

Financial data consolidation
Not Rated
Journal entries and reports
10
Multi-currency management
Not Rated
Detailed Audit Trails
Not Rated
Reconciliation Automation
10
Close Checklist
10
Customizable Workflows
10