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FloQast

FloQast

4.8
(86 reviews)

FloQast enables you to close your books efficiently in a secure and collaborative environment.

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FloQast review by Andrew N.
Andrew N.
Validated Reviewer
Verified Current User
Review Source

"Amazing software for closing the books with confidence!"

What do you like best?

I love how much more organized our accounting documentation is, as well as how much more visibility we have into our month-end close process. I know that our trial balance will always tie out to reviewed reconciliation schedules, which in turn allows me to hand over the financials with confidence. Also, the implementation process was a breeze and only required a couple of hours of my time (much easier than I thought it would be).

What do you dislike?

Having to manually upload the trial balance as of right now, but I've been promised that this is something that can be automated.

Recommendations to others considering the product

Go for it, you will be happy with how user-friendly it is and how much better it will make your accounting department.

What business problems are you solving with the product? What benefits have you realized?

We previously did not have a review process, so FloQast has made this transition seamless. Instead of having to constantly open an Excel checklist to see where we were in the close, with FloQast we can easily see exactly what's pending. The biggest benefits are increased organization, efficiency, and visibility.

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FloQast review by Sarah B.
Sarah B.
Validated Reviewer
Verified Current User
Review Source

"Makes my life easier!"

What do you like best?

I love that I can have all our processes in one location, not spread over multiple to-do spreadsheets. Floqast allows for me to have visibility to other's work - I no longer have to hound people to see if things are done. I like being able to save notes on items month over month. Helps to be able to track changes by going back the month before to see if there was an anomaly in the previous close.

It is extremely easy to change the assigners for tasks and the due dates each month. I thought that would be time consuming, but being able to export, make changes to a spreadsheet and then import the changes makes it happen in a flash. And it is intuitive enough to not change an item that has already been marked as done.

What do you dislike?

One thing that has taken me a bit of time to get used to is figuring out the due dates for items. But once I got that down, it was easy up update month over month.

Recommendations to others considering the product

If you are looking for a solution help ensure your close is happening how and when it should, FloQast is where it's at. I no longer have to worry about whether I, or someone else, missed something in the month. The cost of it is well worth it - it gives you back time to actually get things done instead of figuring out what has or hasn't been done yet. We use it not only for our close, but also for a monthly task list of other items that need to be done in the month. The system gives you the flexibility to use it outside the normal close-the-books list. A team member recently told me that he didn't have to think about what to do next anymore. He wasn't a list keeper, and now everything is in one spot. There is no more relying on just your memory for important tasks.

What business problems are you solving with the product? What benefits have you realized?

The main reason I wanted FloQast was to get all our processes in one place with items assigned to people. Now I can see where people are in the process instead of having to constantly ask or look in Intacct to see if something has been done. Important items aren't falling through the cracks anymore. We had an issue where a team member was all of a sudden out on a family medical emergency. If we had had Floqast back then, the worry/fear of what hadn't been done on their desk would have gone away. It takes a lot of the stress of managing a bunch of people and a lot of tasks very simple.

What Financial Close solution do you use?

Thanks for letting us know!
FloQast review by Daniel L.
Daniel L.
Validated Reviewer
Verified Current User
Review Source

"Keeps the team on top of their tasks"

What do you like best?

It details out every step in the process, so both the preparer and approver can understand what each task on the checklist is. Some steps may be related, but can be done in stages.

What do you dislike?

There's not much to improve on yet as this is our first month using the software.

Recommendations to others considering the product

It eliminates the need to maintain an Excel schedule and eliminates meeting with the team on a daily basis to go over pending tasks and statuses.

What business problems are you solving with the product? What benefits have you realized?

Month end close and keeping the team accountable for their respective parts. Since some of us work remote or at different sites, it's important for us to cohesively deliver on financials. If a manager is out of office, they can just log in to FloQast to see what's been done and what's left to review.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"The Close Solution You didn't know you Needed"

What do you like best?

This software has made my monthly close process into something I used to dread into something that can be done with ease. It's nice to see your progress as you go through the close for the different entities. I have the ability to reconcile accounts from Sage Intacct to our various statements and spreadsheets that are sent monthly. I am sent notifications when reconciliations are no longer in balance. I'm able to give auditors access to the system so they can see what has been signed off on, including reconciliations, as well as access to all documents saved within the system. You can implement a prepare and reviewer process so that specific items have to be signed off on by specific people within a department. The software solution does not have to be used just for monthly accounting close, but can be used to track other checklists for standard processes that need to be completed for various projects.

What do you dislike?

The software is great and I've had very few issues with it. I do wish that you don't have to do a monthly reconciliation push to see if any numbers have changed. It would be nice if you refresh in one month that it refreshes all months to ensure everything is still balanced.

Recommendations to others considering the product

Floqast is a great product. I recommend making sure that your accounting software can be integrated directly with the system. If you're looking to eliminate much of the manual paper close process, then this is the right software for you. It was the software I didn't know I needed.

What business problems are you solving with the product? What benefits have you realized?

We no longer have a paper and manual close process. It has eliminated the need to keep our monthly backup and financials in a binder. It is all kept online and accessible to all parties that need it. Our VP of Finance and CIO direct access to the monthly close process. It provides an extra layer of security that our financials are correct.

FloQast review by User in Accounting
User in Accounting
Validated Reviewer
Verified Current User
Review Source

"More than a close management solution"

What do you like best?

This software has made my monthly close process a lot easier. With Floqast I use 1/3rd the amount of paper I did previously. Everything is accessible in one place. It gives me the ability to reconcile my GL account balances to my workbooks. It will alert me if something is out of balance, saving headaches during the audit. The auditors are able to access the system, so they are able to access the monthly backup as well as the reconciliation history.

What do you dislike?

I currently have not had any issues with Floqast. Floqast has been a great additional tool here.

Recommendations to others considering the product

If you are looking to automate your monthly close process and eliminate the manual process headache, then this software is for you. It connects directly with Sage Intacct so we can see that our account balances are the same as our workbooks as well as our monthly statements. It was a product I didn't realize I needed until I had it. It has saved me a lot of time during my monthly close process and it will save you time as well. What's even better is they charge by user, not by entity, so if you are like us where you have far more entities then users, then it will save you time and money.

What business problems are you solving with the product? What benefits have you realized?

Eliminating a paper close process to an electronic process. It gives our VP of Finance and CIO direct access to see where we are at any point in the close process and see that we are reconciling our GL accounts and they are correct. It provides insight to the fact that the closing task has been completed and the process has been approved by the VP of Finance.

FloQast review by Administrator in Marketing and Advertising
Administrator in Marketing and Advertising
Validated Reviewer
Verified Current User
Review Source

"Game Changer for Our Close"

What do you like best?

The visibility in the status of the close from checklist to locking. The ability to analytically view how we are progressing has added a layer of accountability not previously a part of our process.

What do you dislike?

On the analytics I wish there was a bit more drill down capability. For example the Status column is not set up to help solely focus on reconciliations or checklist items that are late. You have to go back to the relevant section (which you can hyperlink) and look for late items.

What business problems are you solving with the product? What benefits have you realized?

Historically we have had an ineffective close process driven by spreadsheets and very little deadline accountability. We have further been affected by our inability to consistently document and evidence preparation and review of reconciliations in a manner that our internal and external auditors can easily review. FloQast has provided a platform to work through inefficiencies on close as well as give our auditors timely access to our close so that critical controls can be validated.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"Refer Floquast to a friend"

What do you like best?

Floquast is pivotal in keeping me current with my workload and status. It makes working through a monthly close less stressful, and aids in keeping me on track and on top of my tasks.

What do you dislike?

I wouldn't say I dislike anything, but I would like to see a function in Floquast where I could check off Journal entries as they've been posted into our financial reporting software.

Recommendations to others considering the product

This product is the best I've used as far as managing workflow in an accounting environment. It is easy to use, and works as a documentation tool for any issues that arise during a close. This product is a major stress reliever, as one is not required to keep track of their assigned tasks either manually or by relying on memory. Having the ability to check off your tasks one by one makes for an enjoyable close!

What business problems are you solving with the product? What benefits have you realized?

Since implementing Floquast, we have been able to work through the close as a unified team. We are better able to communicate one-off issues as they relate to the journal entries we prepare, and we have shaved time off our overall close schedule. Floquast allows our team to plan our work effectively, and to find gaps in our process where we can improve efficiency.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"Easy to use and very informative!"

What do you like best?

I like that everything regarding our close schedule can be tailored to the individual person/department and at-a-glance, it's easy to know where we are in the close process. It has made it so that I have less questions about the status of close items, can pull posted files and reconciliations from one place, and overall made it easier to complete the close since not everyone in our company is in the same physical location. It's also very nice to have the ability to post notes on items that will be late, or need more explanation, and not have to inform everyone via email or in person. They can just open FloQast and read the notes I, or others, have left.

What do you dislike?

I wish that there was an easier way to use one-drive in order to update the files that I maintain for our close process. Since the files are stored in a centralized shared folder (not owned by me), the one-drive folder on my computer does not automatically update those files.

What business problems are you solving with the product? What benefits have you realized?

We are not all located in the same physical location, so it has made it easier to be able to track where we are in the close process. Personally, I think that it's great to be able to see exactly where we are, and any support for our processes or for monthly data can be easily, and historically, found in one centralized location.

FloQast review by Administrator
Administrator
Validated Reviewer
Verified Current User
Review Source

"Fast and Efficient"

What do you like best?

First software implementation I've done that was as easy as they made it sound, and stuck to the original timeline. Implementation took minimal hours from our team, and the efficiencies/visibility we obtained was worth it! Also, our Directors love having the user dashboard where they can easily track the Close status.

What do you dislike?

The sync between FQ and Box.com was a bit confusing for our team. The training should over-emphasize the need to dowlnoad the local version of Box.com to each user's computer (File Explorer for Windows). Our team was having some confusion/trouble until they added the local access to the Box.com files. I created a step-by-step guide for our team regarding how to download... but this should be provided by FQ for your users in advance.

Recommendations to others considering the product

None - it's as easy as it looks!

What business problems are you solving with the product? What benefits have you realized?

We just had our first month-end close using FQ, but eventually it will allow us to easily see efficiencies and decrease our # of days it takes to close the books. This will lead to more timely information for our company to make better strategic decisions!

FloQast review by Joel T.
Joel T.
Validated Reviewer
Review Source

"Absolutely Fantastic"

What do you like best?

I have never been more impressed with any product that assists with close more than I am with FloQast. It reduces the manual work to track tasks, manually reviewing that reconciliations match the trial balance, reduces sign-off time, and provides so many other time saving features that I cannot remember them all. I must also say how much risk of mistakes is reduced for the individual performing the reconciliation and for the reviewer. The rate at which improvements and added features are implemented is very impressive - I have never seen a company put out so many meaningful features and improvements so quickly and seamlessly.

What do you dislike?

Much utility could be added both for close and non-close tasks if items could be assigned not just by work-day or hard date, but also by certain days of the week. Such as being able to assign a checklist item that occurs each Monday in a month. You could do this in FloQast but it would require adjusting the work-day or hard dates each month. This is a very minor item though and one that is not necessarily within the scope the product is built to handle.

Recommendations to others considering the product

If you use Excel or another "manual" process to track your close - switch to FloQast as soon as possible. The FloQast team is great with implementation and the benefits are amazing.

What business problems are you solving with the product? What benefits have you realized?

We have used FloQast to track close in a much more assured, expedient manner. It is much easier to manage the progress of the close cycle, faster to sign-off on completed reconciliations and review them, far less risk that a task or reconciliation will be forgotten, it is quite easy to adjust FloQast for changes within the company, and many others that I am sure I am forgetting.

FloQast review by Grant C.
Grant C.
Validated Reviewer
Verified Current User
Review Source

"Easy tool, why didn't I think of this first!"

What do you like best?

One stop shop for all month end close management. Organization of all the recons and being able to track that easily, best part is when something goes out of balance you are notified .

What do you dislike?

The connector with Google Team Drive and not having the ability to lock down folders like BOX has.

What business problems are you solving with the product? What benefits have you realized?

Manage month end close and knowing where the team is at any point during month end. Trimming days off month end close.

New product-Flux analysis tool will be a nice tool when there a bit more features, as we do that in Excel now.

FloQast review by Lianne L.
Lianne L.
Validated Reviewer
Verified Current User
Review Source

"Visibility, Delegation & Organization "

What do you like best?

My favorites features are the dashboard and the organization of the tasks and reconciliation schedules. At a glance I can see how far we are into the close process and then I can drill down to see which areas (cash, AR, AP etc) are completed or delayed. Not only can I view the areas, but I can further see which user is up to date or behind schedule which is a great people management tool as well.

The Excel reconciliation schedules are organized and all located within the system so I don't have to hunt for them on our internal server. The schedules roll forward into the next month very easily. As a reviewer, it is easy for me to review the completed schedules online, complete with PDF support as needed, and either ask questions via the review notes or approve the schedule as is.

What do you dislike?

I have used this tool for about three months and so far have not yet found anything that I dislike.

Recommendations to others considering the product

I first heard of FloQast during an IMA (Institute of Management Accountants) continuing education webinar about streamlining the month end close. I recommended implementing this product to my company's CFO. He saw the benefits and the rest was history. I could not imagine functioning without FloQast going forward. The implementation did not take a lot of time. The support team at FloQast is great to work with. We had several role transitions due to turnover and it was simple to add the new users and reassign the tasks. The new users commented on how easy it was to use, how easy it was to find what tasks were assigned to them and to know when the tasks were due.

What business problems are you solving with the product? What benefits have you realized?

Accountability of assigned tasks has improved. We formerly had our tasks on an Excel list but this list was easily misused-resorted incorrectly, rows accidently deleted or written over. FloQast prevents this from happening. Any user can see where we are at, who did what, and who didn't do what. This improved teamwork.

FloQast created efficiency by being able to pull any reconciliation schedule and provide it to the auditors. We could also provide the auditors with proof of when it was completed and reviewed with the time and date stamp.

FloQast review by Brittney H.
Brittney H.
Validated Reviewer
Review Source

"Wonderful Close Management Solution"

What do you like best?

I love the visibility that FloQast provides to all users. It's great to have all close-related items in one place, with a requirement they be checked off when completed and reviewed to ensure that nothing slips through the cracks. The document roll-forward is a great feature, as is the ease of reviewing reconciliations and related workpapers directly from the portal. The implementation and set-up was also a very good experience and my entire team was quickly able to adopt the software.

What do you dislike?

My team and I have been using FloQast for 3 months now, and have not run into anything we dislike. The only thing I could think of that could use improvement was the constant manual re-uploading of the trial balance but they are already testing out a fix.

Recommendations to others considering the product

FloQast eliminates so much of the administrative work required when you just keep an Excel checklist or something similar, and also eliminates a lot of error and missed reconciliations when you are relying on memory and messy processes to complete everything. It helps you and your team stay accountable for tasks, and stick to your goals. My team has experienced great success using FloQast and are only a few months in. I would definitely recommend following through with a demo of the product if you are even slightly interested.

What business problems are you solving with the product? What benefits have you realized?

Switching to FloQast from a very manually updated Excel checklist has improved our transparency, accountability, and overall management of monthly close. I also think it has naturally improved many of our processes and as we continue to use it, will help keep us consistently audit-ready.

FloQast review by Joshua I.
Joshua I.
Validated Reviewer
Verified Current User
Review Source

"Great enhancement to our close process"

What do you like best?

FloQast streamlines the entire close process and provides excellent visibility and accountability to all involved. The interface is intuitive and very user friendly. The notes feature allows for easy tracking of review comments and documentation. The FloQast team is also very knowledgeable, attentive, and enjoyable to work with.

What do you dislike?

I have been using the product for about 3 months and am very satisfied.

Recommendations to others considering the product

I recommend you do a Demo.

What business problems are you solving with the product? What benefits have you realized?

Prior to implementing FloQast we had an very manual reconciliation and close process. Reconciliations were printed, signed by hand, and maintained in a binder. The close calendar was maintained in excel. This resulted in a large administrative effort each month. Since implementing FloQast we have been able to remove almost all of the administrative work. This has allowed people to focus on closing faster and spending their time on value added activities.

FloQast review by Administrator
Administrator
Validated Reviewer
Verified Current User
Review Source

"Great for Month-End Close Managers!"

What do you like best?

We've been using Floqast for the past 4 months and have loved it. Converting over from shared excel spreadsheets that showed our team's progress through close, Floqast has been great. The implementation was extremely fast and they did most of the work for us. We love the fast filter options, ability to roll forward the checklist month to month with updates in between if needed, reconciliation feature which syncs directly to our GL system.

What do you dislike?

We do not have anything we dislike about the product thus far!

Recommendations to others considering the product

If you need a tool that's easy to use and doesn't require months of implementation time, I would highly recommend Floqast. Our company is extremely picky about user interface/UX as well since we're in the business of helping our own customers with it, and we highly recommend Floqast in this respect as well.

What business problems are you solving with the product? What benefits have you realized?

We have a goal of shortening and standardizing the close from 10 business days to 6 business days in the next year and half. We love that Floqast has the "analytics" section that shows us how we're progressing towards this goal.

FloQast review by Kamyar K.
Kamyar K.
Validated Reviewer
Verified Current User
Review Source

"One of the best workpaper/workflow review tools out there, with excellent people behind the product"

What do you like best?

Smooth GUI, easy to use, excellent support

What do you dislike?

No QuickBooks Online integration (yet..)

Recommendations to others considering the product

If you are tasked with the financial review of a number of organizations, this tool is an excellent solution. We use it to make sure that every document that goes into a monthly close is properly prepared and reviewed. Once implemented, a tool like this can bring quite a bit of efficiency to each month's close. The company is still young and so is the product. They are routinely building in new and updated features and truely seem to listen to their customers. I have nothing but positives to say about FloQast..

What business problems are you solving with the product? What benefits have you realized?

Quality Control related to the monthly financial close of our clients.

FloQast review by Natalie S.
Natalie S.
Validated Reviewer
Verified Current User
Review Source

"Cannot have a seamless month end close without it!!"

What do you like best?

Floqast helps us organize our tasks/reconciliations, stay on task and meet our month end deadlines with ease. Upper management is able to easily look at the dashboard and see what the close status is of the entire team at any given point during the close. After month end, it helps us to easily reconcile our reconciliations to the GL.

What do you dislike?

There is not really much to dislike about Floqast.

Recommendations to others considering the product

Affordable product that delivers a great way to streamline your month end close.

What business problems are you solving with the product? What benefits have you realized?

No business problems. It helps us stay on task and deliver financials in a 2 day close deadline.

FloQast review by Michael C.
Michael C.
Validated Reviewer
Verified Current User
Review Source

"Streamlined, efficient close"

What do you like best?

FloQast is great at keeping our entire team updated on the status of each close item. We also utilize the review notes feature which helps bring pressing items to the forefront.

What do you dislike?

I would like to see a prerequisite or requirement feature added to close items. For example, before I can check off that I've completed the long-term deferred revenue reclass, I must ensure that all deferred revenue accounts reconcile and have been reviewed by my manager.

Recommendations to others considering the product

Give it a try!

What business problems are you solving with the product? What benefits have you realized?

Our month-end close is extremely efficient and the entire team is able to access the necessary schedules/files.

FloQast review by Michael R.
Michael R.
Validated Reviewer
Verified Current User
Review Source

"Adding close visibility and automation easily"

What do you like best?

FloQast has brought us a tool that allows me to have increased visibility to the close while being very easy to use. As a part of a growing company, other areas of the business had scaled but the accounting processes stayed the same. With FloQast, we have real-time visibility into our close checklist and account reconciliation process.

What do you dislike?

We were one of the first to use the OneDrive integration. There were a few hiccups in getting started but it has been nothing but smooth sailing ever since.

Recommendations to others considering the product

We looked at competitors but ultimately decided on going with FloQast. Several key things we considered were the ease of implementation, not having to change many processes, and being able to get the product live quickly. We were to complete the implementation and go-live within a few weeks.

What business problems are you solving with the product? What benefits have you realized?

We had a lack of visibility into the close process. With FloQast, we have a very easy place to check and see how the close is coming. We also had limited visibility into our account reconciliation. Wiht FloQast, we have been able to increase the number of recs we are doing while making it easier to complete some of them with auto-reconciliation.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"Nice solution to organizing month-end"

What do you like best?

I love that the GL balances pull in automatically from NetSuite (and other systems) to be compared to the reconciliation balances. Seeing the status of all recons and having a way to track progress real-time is great. They keep adding features as well, like the variance analysis tool.

What do you dislike?

There’s not a lot to dislike. It’s a pretty easy interface and easy to learn. But I do wish you could download the reconciliation setup templates for all entities at a time rather than one at a time. It would make updating admin details easier.

What business problems are you solving with the product? What benefits have you realized?

I like that it simplifies comparing recons to the Gl balance and provides a way to see the status of everything by user at a quick glance.

FloQast review by Daniel T. W.
Daniel T. W.
Validated Reviewer
Review Source

"FloQast is a great product!"

What do you like best?

It is extremely user friendly, easy to implement, and gives the necessary management visibility to the entire closing process.

What do you dislike?

We have been using it for just over a year, but I can not say that there is any specific feature that I dislike. They are constantly making updates, so anything I may have complained about has been addressed.

Recommendations to others considering the product

I highly recommend FloQast if you have no true month-end process or want to improve your current process.

What business problems are you solving with the product? What benefits have you realized?

We have eliminated weekly status meetings with the CFO. We have also formalized a systematic closing process that the entire team has access to. Prior to FloQast, we did not have a documented process. It was very haphazard.

FloQast review by User in Internet
User in Internet
Validated Reviewer
Verified Current User
Review Source

"Great tool to streamline month-end close"

What do you like best?

Floqast significantly helped us reach our month-end close deadline of 5 business days. With the checklists and users, we are easily able to see where we stand and what still needs to be completed. We put in some time to make sure we have a solid checklist with proper due dates relative to our procedures and that has helped immensely. Also, Floqast provides an easy place to store and tie out reconciliations to our GL.

What do you dislike?

There isn't much I dislike. I think it could use some new features, although I'm not exactly sure what to suggest. I just feel like it's been essentially the same product for a few years now.

Recommendations to others considering the product

Make sure you really put the time into setting up a good checklist and you will see the benefits.

What business problems are you solving with the product? What benefits have you realized?

Our close prior to Floqast was a little messy. Once we fully adopted the product and had it set up with everything we needed, it has helped us hit our close deadline on time every month.

FloQast review by A.J. D.
A.J. D.
Validated Reviewer
Review Source

"Great software with even better customer service"

What do you like best?

The software is great and really filled a need for our company in streamlining the period-end close process and providing transparency to all members of the finance and accounting team. The software is very user friendly. In addition, we really like the customer service they have provided. They did a tremendous job of communicating with our team throughout the implementation process and providing training. We have had questions subsequent to going live and their team has responded very quickly and always found a solution. Lastly, they appear to be a company that is always looking for ways to build in more features and make the software more robust.

What do you dislike?

Nothing to dislike. Initially our update times for account balances were taking a long time; however, the Floqast team solved the issue and they take less than 30 seconds now.

What business problems are you solving with the product? What benefits have you realized?

We have eliminated the risk that an account reconciliation is not prepared or signed off. Our close process has been a lot smoother since getting on the Floqast platform. Also, Floqast has eliminated the need for our team to have daily meetings to discuss status of items.

FloQast review by Kathy W.
Kathy W.
Validated Reviewer
Verified Current User
Review Source

"FloQast - An accounting tool necessary for BPO practices"

What do you like best?

FloQast provides a monthly checklist for closing procedures, as well as monthly reconciliation sign-offs that enable us to provide a consistent and organized monthly close process for each of our client entities. Without this tool, we would be manually tracking each checklist and the close status of each entity. The tool is very user friendly and also easy to administer. I love having a percentage complete overview of each client's close status.

What do you dislike?

I would like FloQast to provide a BPO summary dashboard in order to manage the close from an overall perspective for our clients. I would also like for them to add a layer of access between user and admin so that the accounting managers could manage the checklist items for their teams. Finally, I would like for FloQast to be able to alert me, as the Controller of the division, when there are balance sheet accounts missing from the client reconciliations.

What business problems are you solving with the product? What benefits have you realized?

The ease of managing our close process for all of our clients with FloQast has increased our ability to provide more efficient and accurate month end close results. I can't imagine how we would scale our BPO services without a tool like FloQast. The team at FloQast is super supportive and involved every step of implementation and they empowered us to do future implementations on our own since we have so many to perform.

FloQast review by Lei H.
Lei H.
Validated Reviewer
Verified Current User
Review Source

"A wonderful tool to have for month end close"

What do you like best?

Smooth system implementation with on-going enhancement;

Easy communication with vendor as the product is managed/supported by a team with solid accounting background/knowledge;

Converts closing calendar to work day calendar for each month end close;

Month end check list for each individual and reminder for open items;

Automatically reconcile BS account balance between source schedule and TB

What do you dislike?

Nothing to dislike. As a fairly new user, we continue to explore all the features it has to offer.

Recommendations to others considering the product

This is a product designed and supported by a team with solid accounting background and knowledge ( many are CPAs and used to be accountants). So they definitely speak the same language as their customers. Often time, I find their offering is one step ahead of our ask, which shows the thorough understanding they have about our needs and pain. FloQast has been a great partner for us to achieve a more smooth, accurate and timely close. I would recommend it to any accounting team who is looking to improve their month end close process.

What business problems are you solving with the product? What benefits have you realized?

Better visibility to the progress of the closing;

Consolidate check list from all team (AP, AR, Rev, Payroll, GL, Int'L, etc) at one loaction;

Help user to better focus and prioritize daily work during close;

Create tracking record to help identify areas with weak control that require more attention (i.e. recon/ review is missing):

Better collaboration among team

FloQast review by User in Furniture
User in Furniture
Validated Reviewer
Verified Current User
Review Source

"One of the most valuable tools I use as a controller. Will never close the books without it again!"

What do you like best?

Super easy to use. Super easy to implement. Helps us organize the close or 6 different companies. Account rec features. Easy to make changes to existing close programs. Review notes streamline communication. It is very easy to customize.

What do you dislike?

Nothing. They are constantly tweaking the product to make it better. I am sure there is room for improvement, but overall we are thrilled with this product and what it has done to improve our financial close processes.

Recommendations to others considering the product

look at the demo. It works as good as they sell it as!

What business problems are you solving with the product? What benefits have you realized?

Process and workflow. Making sure we dont miss anything. We have shaved off time of our close and become much more efficient and purposeful in everything we are doing. It also helps to integrate our remote locations into our accounting team to acheive more synergy.

FloQast review by User
User
Validated Reviewer
Review Source

"Faster than ever!"

What do you like best?

I love the fact that I do not have to keep reviewing my checklist to make sure I completed all the schedules etc. Also, i do not have more surprises when my schedules are out of balance.. I get an email letting me know something has changed and i can take a look quickly.

What do you dislike?

I do not think there is anything I 'dislike" the system is fulfilling our needs as for month end closing and I enjoy the fact that they keep adding new functionalities!

Recommendations to others considering the product

Excellent software! You will immediately see how your process is improved. Also, it is pretty easy to use and FloQast is constantly offering training on new features or enhancements done. Very good customer service, they get back to you really quickly.

What business problems are you solving with the product? What benefits have you realized?

Faster closing, better control on the pending items and what is the status of the items designated to other members of the team, improved communication on what is going on pending items etc

FloQast review by Tad L.
Tad L.
Validated Reviewer
Verified Current User
Review Source

"Floqast is a solid product and easy to use"

What do you like best?

Probably it's ease to implement and use.

What do you dislike?

The ability to add more attributes for sorting both checklist items and recons would be good. A SOX related module where you can tie in your controls to either checklist or recons would be great.

What business problems are you solving with the product? What benefits have you realized?

The biggest benefit is better visibility to the close cycle and ensuring work is done before we file our SEC documents.

FloQast review by Robin R.
Robin R.
Validated Reviewer
Verified Current User
Review Source

"Excellent Technology for Managing the Close Process "

What do you like best?

I love the workflow, the reminders, the approval, sign-offs, integration with Netsuite, basically everything!

What do you dislike?

Looking forward to new features such as adding links and maybe procedures?

Recommendations to others considering the product

This tool will improve your close management and drive a faster close with your users.

What business problems are you solving with the product? What benefits have you realized?

Efficiency and accuracy with the close. We are much more efficient with our 3 global operations as a result of Floqast.

FloQast review by User in Financial Services
User in Financial Services
Validated Reviewer
Review Source

"Easy to use"

What do you like best?

This close management software allows our company to easily track what has been and has not been completed for each monthly close. I like the ease of use and the ability to import excel files that our ERP system, NetSuite, can easily export. I like the ability the system has to reconcile NetSuite to our reconciliations. I like that the system is entirely cloud-based along with our ERP system.

What do you dislike?

The only thing that I have thus far disliked is the analytics and my ability to track where everyone on my team is at with a close. I believe that we are working on some of the system's older analytics and I believe FloQast is working on this part of their system, but otherwise I have no complaints. It is easy to use, to mark checklist items and reconciliations as complete, and to use review notes.

What business problems are you solving with the product? What benefits have you realized?

We have been able to spread out the monthly close among multiple employees rather than rely on just one or two employees to complete the close. This is allowing us to complete the close more quickly and to leverage other employee's knowledge of their assigned areas when closing.

FloQast review by Administrator in Marketing and Advertising
Administrator in Marketing and Advertising
Validated Reviewer
Verified Current User
Review Source

"Excellent Organizational Tool!"

What do you like best?

I love how organized Floqast is. Having all your reconciliations to your balance sheet organized in a similar structure to your balance sheet makes it so easy to review each month. In addition, I like that you are alerted if any changes are made to balances after they have been singed off on.

What do you dislike?

There isn't much I do not like, however once in a while it can be a little slow at updating or pulling information from our accounting software and reconciliations.

What business problems are you solving with the product? What benefits have you realized?

We are more organized, catch back dated transactions, and more efficient.

FloQast review by Adam A.
Adam A.
Validated Reviewer
Verified Current User
Review Source

"Decrease Close Time Significantly"

What do you like best?

The ability to house your closing checklist and reconciliations across multiple subsidiaries in one handy interface helped to decrease our close time by 5 days.

What do you dislike?

The only issue that we have is not having the ability to have dependencies on the checklist items.

What business problems are you solving with the product? What benefits have you realized?

Decreasing close time, better disbursement of tasks, and full accountability.

FloQast review by Administrator in Retail
Administrator in Retail
Validated Reviewer
Verified Current User
Review Source

"FloQast has simplified close procedure, streamlined reconciliations, and provided ample visibility."

What do you like best?

The reconciliation process is by far the best feature for our team. Being able to auto-reconcile specific accounts, and gain visibility into potential issues with others has made reviewing much smoother than our previous software. With the click of a button, FloQast sees the most up to date information from our GL and we have instantaneous insight into problem areas.

What do you dislike?

The standard dashboard is very useful from a reviewer and department head point of view, but our team has provided feedback that it would be very useful to be able to customize the dashboard to make something more meaningful for them. However, the team over at FQ has been in regular contact with us and has been more than willing to hear our suggestions for future features.

What business problems are you solving with the product? What benefits have you realized?

We have completely solved any unreconciled accounts, and have significantly increased the efficiency of our close process.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"Consistency & Transparency in close process"

What do you like best?

Seeing all tasks and their status in one place. Using review notes to email someone when a task they are waiting for has been complete. Visibility into everyone's responsibilities.

What do you dislike?

We've been hoping for many months to get customizable tags, so we can tag tasks certain ways based on our specific business. Customizable tasks have just arrived! We haven't had a chance to try them yet.

What business problems are you solving with the product? What benefits have you realized?

Consistency with the month-end close; transparency into status of the close. More efficient - reduces need to email people back and forth to see status.

FloQast review by Jason G.
Jason G.
Validated Reviewer
Verified Current User
Review Source

"FloQast has made the month end process more accurate, complete and more streamline."

What do you like best?

FloQast has helped our month end process to become much more organized. Each member of the team knows where the process stands as well as what needs to be done. Tasks are always completed because of the checklist feature and accounts are always reconciled because of the the reconciliation feature.

What do you dislike?

There is not much to dislike about this system. Every part of FloQast is easy to understand, update and work with during the month end process.

Update times to add documents to the system can tend to take some time to upload and reconcile.

Recommendations to others considering the product

FloQast is always improving. There is always new updates and improvements made to the system.

What business problems are you solving with the product? What benefits have you realized?

Delegating tasks has become a much easier process as well as having a proper and complete review of the tasks completed. The month end process has become more streamline as well as complete and accurate.

FloQast review by David B.
David B.
Validated Reviewer
Review Source
Business partner of the vendor or vendor's competitor, not included in G2 Crowd scores.

"CPA Firm with a BPO Practice, looking to continually improve our services to the non profit sector"

What do you like best?

We started with FloQast at the beginning of 2016. We are currently running service delivery for 20 clients on the tool. Ultimately this will be our main production engine, driving standardized service delivery and process efficiencies.

Our engagement teams that have used the tool are big fans. FloQast facilitates efficient delegation and review for our team that is increasingly spread across the world serving clients who are spread across the country.

We view FloQast as an essential component of our outsourcing play and are excited to check back in with this forum as its impact matures in our business.

What do you dislike?

FloQast was not initially programmed for specific use by a BPO. To the credit of their ability to listen and hustle, they have made significant changes for the benefit of businesses like ours. They have made strides in our ability to monitor our performance across multiple clients and have many ideas in the queue for future advancement. We appreciate their responsiveness to our input.

Recommendations to others considering the product

BPO users of the cloud based tools supported by FloQast should strongly consider this solution. Advantages include monitoring performance, course correcting when necessary, documenting reviews, and driving efficiency.

What business problems are you solving with the product? What benefits have you realized?

We partnered with FloQast as part of a move to improve service delivery through standardization. The early returns are very good, we can delegate and track delivery of our statement of work much better than we could in the past.

FloQast review by Administrator in Information Technology and Services
Administrator in Information Technology and Services
Validated Reviewer
Review Source

"Excellent Tool to Manage Your Close"

What do you like best?

FloQast gives me (Corporate Controller) the ability to monitor my staffs progress on our financial close at all points during the close. It is fully integrated with our accounting G/L and makes storing and organizing backup documentation extremely easy. The analytics tool allows me to understand where the hold ups are occurring and where we might potentially need to allocate more resources.

What do you dislike?

Could use some enhanced features. It has been somewhat difficult to gain full adoption from my team as they aren't used to logging into a new software. While it's a great tool to organize our close, the features of the product are still somewhat basic.

What business problems are you solving with the product? What benefits have you realized?

I was trying to get off Excel to manage our close and something that was integrated with our Accounting G/L. FloQast was easy to implement and centralized all of our close tasks in one software. It helps us organize, monitor and analyze all the processes involved in closing our books.

FloQast review by Matt S.
Matt S.
Validated Reviewer
Verified Current User
Review Source

"Awesome product that really helped improve the effectiveness and efficiency of our month end close"

What do you like best?

FloQast has really improved our month end close process. The software has allowed our accounting team to better track the month end close process more effectively as well as making sure all employees have knowledge of their own responsibilities, tasks, and deadlines. Our reconciliations are now housed in one place and we able to make sure they are all being completed each month. The software has been easy to administer as well, we make changes every month to tasks as our team and company continues to grow without any major problems.

What do you dislike?

Lots of verification to that all our GL accounts are included in FQ from our ERP system. Wish there was ability to sign off as a preparer/reviewer on reconciliations.

Recommendations to others considering the product

FloQast is definitely a quick and effective fix to help improve your month end process, Implementation is easy if you have a defined checklist

What business problems are you solving with the product? What benefits have you realized?

We were having difficulty getting everyone on the same page for month end close and holding people accountable for deadlines required to complete month end effectively and efficiently. With FloQast implemented, everyone in accounting is now on the same page and knows when tasks need to be accomplished and when they are due in order to close the books. All our balance sheet accounts are now being reconciled monthly, allowing the team to know if there are any further adjustments necessary before we publish financials to the C-suite/Board of Directors.

FloQast review by Administrator
Administrator
Validated Reviewer
Review Source

"Best product for workflow management"

What do you like best?

This product is the best I've used to manage workflow in accounting environment. Before FloQast, everyone on my team keeps an excel spreadsheet of their month-end close tasks, which is difficult to manage and with no viability. With FloQast, it keeps the team accountable for their respective tasks every month and makes it easier to track where we are in the close process. The reconciliation function is amazing, because of it, the monthly reconciliation is no longer a nightmare for my team.

What do you dislike?

I wish the review note can be visible when I hover the cursor over the difference, instead of having to click into the note column on the far right.

What business problems are you solving with the product? What benefits have you realized?

Monthly account reconciliation used to be a nightmare for my team, with Floqast, we are now completing the reconciliation in a timely manner.

FloQast review by User in Computer Software
User in Computer Software
Validated Reviewer
Verified Current User
Review Source

"FloQast is an easy to use tool that helps streamline processes"

What do you like best?

FloQast has a simple layout that makes it very easy to use the product. This tool allows you to easily create checklists and track the status throughout the close process. Additionally, for reconciliations an automatic email will be sent to you when it is out of balance. The sign off tool is great to allow you to assign tasks to specific individuals and help implement controls by assigning preparers and reviewers.

What do you dislike?

One aspect of FloQast that is more time consuming is if you need to add a preparer or reviewer, you have to re-add all the individuals to the specific task.

Recommendations to others considering the product

FloQast is a great tool and I highly recommend implementing it if you would like to make your processes simple and efficient.

What business problems are you solving with the product? What benefits have you realized?

The largest benefit is that it has made transitioning team roles and responsibilities to new team members easy and has made the overall close process more efficient.

FloQast review by Amy S.
Amy S.
Validated Reviewer
Review Source

"FloQast"

What do you like best?

Before FloQast, all journal entries were on paper. Now, anyone with access to Floqast can find the information they need, wherever they are. This has also helped with our annual audit. The auditors can access the information, which minimizes the questions they have for us.

What do you dislike?

After using FloQast for 6 months, we have not had an area that we dislike. Any time we have questions, customer service has always been very helpful on helping us find the answers. One improvement could be to have emails sent when users complete a journal entry. Then, the admin. staff know to login to approve.

Recommendations to others considering the product

If you want a paperless system to complete your month end journal entries, then FloQast is a great solution. You can upload your trial balance at the end of your process and reconcile your accounts to see any discrepancies. You can also see the status of journal entries and what staff members need to complete.

What business problems are you solving with the product? What benefits have you realized?

Our goal is to start going electronic and reduce the need for paper. Also, to allow access to staff when they are offsite and need information.

FloQast review by Kristen P.
Kristen P.
Validated Reviewer
Review Source

"Month End Close software unlike anything else on the market"

What do you like best?

Unlike other integrations I've been through, FloQast was incredibly easy to set up. Especially with our ERP. It is very intuitive and so easy to use with minimal training. It has helped my Finance & Accounting team of 12 users make our month end close process more efficient and ensures we are always in sync and communicating throughout the close. Having the close checklist and reconciliations all in one place with deadlines and timestamps of submissions and reviews is a nice change from the old tick and tie, sign-off, paper days.

What do you dislike?

Nothing. FloQast has been one of the better business partners I have worked with, in that they are constantly considering our suggestions and actually implementing them.

What business problems are you solving with the product? What benefits have you realized?

We have more visibility and a nice global view of the close and reconciliations. It is organized, centrally managed. keeps the team on their toes, and helps us collaborate and ensure the most efficient close.

FloQast review by Christina Serrao, M.
Christina Serrao, M.
Validated Reviewer
Review Source

"Floqast Review "

What do you like best?

Floqast not only comes with amazing features for accounting, but exceptional service. We are treated like family and our questions always have immediate responses. More importantly, our auditors love this as well and makes our reviews a lot easier. Super user friendly and reliable.

What do you dislike?

Refreshing credentials, would like to see some more reports, only pulling in current month activity than balance.

What business problems are you solving with the product? What benefits have you realized?

Audits, monthly,/quarterly closes. Helps our team with the work they are responsible for as well as review. Communication is best using floqast.

FloQast review by Nancy P.
Nancy P.
Validated Reviewer
Verified Current User
Review Source

"A game-changing product for managing the financial close process."

What do you like best?

As an original beta customer of FloQast, one of the things I like best is the amount of positive change I’ve witnessed throughout the past year and having been a part of the conversation influencing some of the areas of change. For example, our team has been able to suggest improvements to the folder structure and review comments that have been implemented into the product.

Before we implemented FloQast at Simple, we were manually rolling our close checklist from month to month and did not have a good way to collaborate on the monthly close as a result. As our close process involves more than two people now, we definitely appreciate the procedures that are automatically rolled for us each month inside of FloQast with assignees and due dates that we do not have to manually plug into the system. It has definitely kept our team on track when we have had tight deadlines for producing financial reporting deliverables.

What do you dislike?

One of my biggest dislikes with the product is the inflexibility around modifying the close procedures. As our team has continued to grow here at Simple, we have been modifying the existing procedures to be more efficient and robust. After the initial procedures are set up into the FloQast system, it is pretty clunky to modify them. Ideally, there would be a way to move around procedures easily, instead of having to essentially start over each time I need to modify a section’s procedures checklist. Additionally, as my staff works through their sections, I wish there was a way for them to propose new close procedures that I could simply approve to add to the existing checklists.

Other things that would be helpful to our team is if there was functionality for hyperlinks, and having some sort of tracking mechanism that shows when each month’s close was “locked down” so I can monitor our company's close performance from month to month.

Recommendations to others considering the product

I would recommend FloQast to any company looking to automate and increase collaboration on their monthly close process. It is a beneficial product that will help you better monitor your close process and review the close sections each month. Do know that the product is still in its developing stages and won’t be perfect. However, I do believe that the benefits outweigh the cons in this regard. The FloQast team has been spectacular and I know that they are working hard to keep making continual improvements to the product.

What business problems are you solving with the product? What benefits have you realized?

Overall, I think FloQast is a useful tool. It affords us the ability to quickly check on the status of the close process and gives us the assurance that the same close procedures will be rolled from period to period. Recently, we’ve been able to close in less than a week when we were on a tight reporting deadline and we do attribute some of that success to our team’s ability to leverage FloQast to hold us accountable to specific close deadlines.

FloQast review by Becky K.
Becky K.
Validated Reviewer
Review Source

"Really impressed!"

What do you like best?

The user interface is fresh, welcoming, and inviting. I can glance at the dashboard and instantly know what needs my attention.

What do you dislike?

I am looking forward to MORE! The product is exactly what it was promised to be, but I can't wait for more features so that I don't have to implement other solutions to do something that I know FloQast can do better.

Recommendations to others considering the product

Don't be intimidated by implementation. The FloQast team delivered what they promised regarding implementation.

What business problems are you solving with the product? What benefits have you realized?

The monthly close and review process has improved substantially. The checklists and sign-offs in FloQast provide real time communication which frees up my team to do other tasks. The auto-reconciliation feature has decreased preparation and review time.

FloQast review by Ryan C.
Ryan C.
Validated Reviewer
Review Source

"Surprisingly Effective New Product"

What do you like best?

I really like the hash-tag capabilities because it makes reconciliations seamless.

What do you dislike?

I wish I could rename folders within the application.

Recommendations to others considering the product

The tool's greatest strength is it's flexibility. Reconciliations are still performed in Excel (which is the life blood of accounting) yet can be organized and tracked in real-time using FloQast's easy-to-use dashboard interface. You get as much out of the product as you put into it. The more time you devote into integrating the Company's processes into your FloQast account, the better your end result will be come audit time.

What business problems are you solving with the product? What benefits have you realized?

The product helped our team effectively transition from a quarterly close to a monthly close process.

FloQast review by Lauren C.
Lauren C.
Validated Reviewer
Verified Current User
Review Source

"FloQast helping to close the books timely at a growing company"

What do you like best?

I joined a growing company that needed to close its monthly books even quicker all while the company grew in size (product lines, legal entities, people, all of it.) We chose NetSuite (cloud-based ERP) for accounting and consolidations. FloQast pulls GL balances in real time from NetSuite (believe it does so from many accounting systems), has a clean look, a cloud platform, and is easily configurable by the accounting team. We have accounting members all over the world and FloQast makes collaboration a breeze. In my position as Controller, FloQast gives me comfort to tell Executives, "yes our books are closed and our financials are complete." Our implementation was wonderful because all our customer care reps (and Sales people and Product people and Executives) from FloQast truly understand the operations of a corporate accounting department!

What do you dislike?

I would like to be able to assign balance sheet account reconciliations to individuals on my team. Having spoken to my contacts at FloQast, it sounds like this is in the works or being considered by their product people right now!

Recommendations to others considering the product

Definitely check out FloQast before looking into a more robust solution like Blackline. Blackline is great, but has some features we didn't need and lacks the "cloud-based" feel.

What business problems are you solving with the product? What benefits have you realized?

Before FloQast we had many pain points. We had reconciliation lead sheets that had to be rolled forward each month, but would become out of balance as soon as a post-close journal entry was booked, but no one would know. We had a close checklist and standard journal entry checklist in excel that needed to be updated daily by many members of the team simultaneously. We were growing our business and adding legal entities every month, blowing up the close checklist. And our Accounting Manager would have to count out the business days from a calendar to determine close due dates! Now all of this is automated on a cloud platform where we can all collaborate on the close process and get notifications if reconciliations go out of balance.

FloQast review by Jordan Y.
Jordan Y.
Validated Reviewer
Verified Current User
Review Source

"Floqast is a top notch company with a top notch product."

What do you like best?

Floqast enables transparency on the close process across the organization and increases productivity across the Accounting team. The tool continually has more and more functionality as the Floqast team enhances the product. We have been able to take our close checklist out of Excel and use it for other Accounting tasks throughout the period as well. It has become a great task manager and productivity tool.

What do you dislike?

The next feature that would be a huge achievement would enable users to perform GL reconciliations within the tool itself. This would take Floqast to the next level.

Recommendations to others considering the product

I would recommend Floqast for Accounting teams of 3+ to manage the close checklist. It has increased our team's transparency and productivity while decreasing the number of days to close.

What business problems are you solving with the product? What benefits have you realized?

Being able to keep all team members on task during close has led to reducing the number of days it take to close the books. This benefit is appreciated across the organization up to the CEO and BODs.

FloQast review by User
User
Validated Reviewer
Verified Current User
Review Source

"Meets our needs and more"

What do you like best?

Ease of use for Admin and all users to make changes to the Checklists as well as the Reconciliations module.

What do you dislike?

Cannot effective date the actual date a checklist item was completed. Only allows user default to today's date.

Recommendations to others considering the product

FloQast is continually releasing enhancements to this product. I look forward to see all the advancements they make in the near future.

What business problems are you solving with the product? What benefits have you realized?

Checklist does a great job of tracking all the 200+ tasks that are needed to perform our month-end close.

FloQast review by Ira P.
Ira P.
Validated Reviewer
Verified Current User
Review Source

"FloQast is a great application"

What do you like best?

FloQast helps us organize and manage our month-end close and provides visibility to all team members of current status and open items.

What do you dislike?

There isn't much to dislike about FloQast.

What business problems are you solving with the product? What benefits have you realized?

FloQast has helped us streamline and speed up our month-end close process.

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FloQast
4.8
(86 reviews)