FloQast for close management
August 19, 2025
FloQast for close management
Score 7 out of 10
Vetted Review
Verified User
Modules Used
- FloQast Close
- FloQast AutoRec
Overall Satisfaction with FloQast
We use FloQast (FQ) to assist with our month end (ME) close tasks and reconciliations. We have all the ME close tasks in the Checklist tab and all the reconciliations in the Recons tab. We also use the Variance Analysis tab for our balance sheet month over month trend analysis. I manage 3 direct reports, so I filter the Checklist and Reconciliations tabs to myself and my 3 direct reports as well as DUE TODAY and LATE, so I know which tasks or recons are due today or late, so I can ensure those tasks and recons get done timely. The late often occurs because a reconciliation has gone out of balance when someone posted a new entry affecting the account that was previously reconciled.
Pros
- Customer Support is always responsive and responds to my emails quickly.
- FloQast allows you to attach support files to the task and also add a comment if the task does not require a journal entry for the month.
- The reconciliations compare the GL balance pulled from Intacct to the Excel spreadsheet you prepare with a tag for the FloQast account being reconciled.
Cons
- When updating the Due Dates in both the Checklist and Reconciliations, it now requires you to highlight the number of days the task or recon is due and type it in. This happened after they updated FQ. Before that, you click on the Gear icon and just click the UP arrow next to the due date (number of days it was due) to increase the date to the next day which was very convenient and fast. Now I have to achieve the same thing in 2 clicks which might not seem like a lot but when you have 3 direct reports asking to move due dates for 9 states for 5 different tasks or recons, this becomes 45 times you have to do so many clicks. I reported this issue to Support. Back then they only updated the Recons to make it more cumbersome to move the due dates, but now both the Recons and Checklist are cumbersome.
- Another issue with FQ is when you want to temporarily update the due dates for the current month by downloading the template and change the due dates on the template and reupload it back to FQ, you have to do it twice. First you have to apply it to the current month. Then you have to upload back the original exported template before the change and apply it to the next month and forward. This is a bit cumbersome.
- The AI functionality to post JE to Intacct is unable to allow intercompany entries which Intacct allows by using Source Entity. If you want the JE option which you have to pay for as an add-on, you have to make sure your debits and credits are booking to the same entity. This is not practical when you have multiple entities.
- FQ improved visibility of the month-end close. The dashboard shows the percentage of completed items or late items in a pie chart which helps make it easier to see how much is left to do or how close we are to completing all the tasks and recons for the close.
- FQ provides more standardized processes. I like that I can add to the description of the tasks easily and be more detailed including steps to accomplish the tasks. Then I just copy the newly updated tasks and paste them across all the 9 states, so all 3 accountants will have standardized processes to follow.
- FQ improved team collaboration. I use the filter functions to filter to myself and my 3 direct reports and also filter to DUE TODAY and LATE. I let my team know if there are items due today or late that need their attention via Teams chats.
FQ sends me reminders of items due today in both Teams chats and emails. It is helpful but sometimes it does disturb my sleep since the alarm bells go off from FQ notifications after midnight. I think the variance analysis is helpful and we are trying to use it more now by using it for the balance sheet month over month variance analysis.
We don't really use FQ to store journal entry support files. So it's not really that helpful for audit that way. We currently keep our files in Intacct or in our work computers which will be provided to the auditors via email. On the recon side, we do attach the Excel file that compares it to the GL. These recon files are the ones provided to the auditors.
I used BlackLine at my previous job. Now I use FloQast at my current job. FloQast is, in my opinion, much easier to use than BlackLine and the looks and feels of the website are more user friendly and visually pleasing. BlackLine seemed like a separate system and was not really connected to Intacct (they used Intacct as well at my previous job). Everything just seemed clumsy with that system. FQ is smoother.
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?
I wasn't involved with the selection/purchase process
Did implementation of FloQast go as expected?
I wasn't involved with the implementation phase
Would you buy FloQast again?
Yes
Comments
Please log in to join the conversation