Amazing Tracking Tool
January 04, 2024
Amazing Tracking Tool
Score 9 out of 10
Vetted Review
Verified User
Modules Used
- FloQast Close
Overall Satisfaction with FloQast
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 given moment if we are on schedule with our monthly close. It allows for easy review of journal entries and reports. In addition, FloQast allows us to track and review our reporting deliverables to the business.
- Tracking of close tasks thanks to the monthly close calendar option
- Review - tasks are stamped with the reviewer name & date reviewed
- Ease of review - attachments are uploaded, account balances are populated via communication with the ERP, Note feature allows for review comments
- A setting to allow for attachments to automatically be opened within the app (Adobe, Excel, etc.) rather than as a separate tab in the browser
- Some of our tasks are quarterly or annual so assigning a very specific date would be helpful
- Eliminate the need of "closing" review notes. Once we change the status to Resolved, that should be sufficient. Make Resolved and Closed one and the same
- Improved visibility
- Time savings - ability to re-organize our close to save time thanks to the all-encompassing view of the workload
- Improved communications - leaving review notes on tasks is more efficient than email
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 issues that drove our decision to add FloQast.
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 can assign them View access and point them to where they can find the samples they've selected for review.
I used BlackLine many years ago but found it to be a waste of time. I didn't like being required to use the BlackLine format for reconciliations. The one size fits all mentality never quite works out when it comes to accounting - every business does things a little differently. FloQast allowed us to keep our own reconciliation format, modified only slightly with adding a code that allows the software to read the rec balance.
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