FQ Review

My company uses FloQast to manage our close process. We use the checklists and reconciliation function. We assign items to users as preparers and reviewers. FloQast links to our accounting ERP and automatically updates they balances when refreshed. We also house our reconciliation schedules in FloQast allowing us to quickly tie out and sign off on account balances once reconciled. We also utilize the notes function.

We have used ReMind. Remind has dramatically saved the amount time spent sending out emails. For example we would reach out to vendors to inquire if any services were rendered that have not yet been billed at the end of the month for accruals. Given the volume of vendors we needed to reach out the automation of ReMind and centralized UI has been a great help.

By providing a centralized close hub it has made our yearly audit easier. Our schedules are all saved in FQ and we can save an additional support files needed in FloQast as well. This has helped internally as well because it shows the items are signed off, a sign off is removed and resigned, and balances are updated. Reporting can be downloaded to show complete changes.