Close the books faster and more accurately by organizing, automating and executing your close in the cloud with FloQast. Easy to set up and easy to use. Save on average three days every month.
Your entire close process – organized and assigned – all in one place
With FloQast, your entire Accounting staff knows what to do and when it’s due – no matter how large the team. It’s cloud based, so you and the entire team can always know where you stand with real-time overview of status by task, entity and team member – regardless of whether they are in-house or remote. We take the best of your current process and make it work better.
Always accurate and complete
Say goodbye to manually entering data. Seamless connections between FloQast and your ERP, plus all related Excel-based workbooks in cloud storage, ensures everything is tied out. Built-in completeness check assures all the accounts are reflected in FloQast in near real-time.
Automate key close tasks
Monthly fluctuation analysis, automated reconciliations for bank accounts, clearing accounts and prepaid expenses, and automatic roll-forward of documents and tasks are just a few features of the FloQast Close Management Platform. In addition to shaving three days off your close, automating reconciliations will eliminate hours and, in some cases, even days of mundane work.
MAKE TIME FOR WHAT’S STRATEGIC
Let FloQast AutoRec™ do the toilsome, tedious time-consuming work of creating balance sheet reconciliations, so your team can analyze results and uncover insights to improve the business. AutoRec™ is account reconciliation software that is easy to set up and just as easy to use, and designed to improve your account reconciliation process with the functionality you need to get the job done. No longer do you need to spend hours manipulating data in Excel, color coding or cutting and pasting–we’ll do the math, data manipulation, calculations, and matching for you.
Reconcile all your bank accounts
Give your team back the time needed to research and resolve outstanding items in your bank and clearing account reconciliations at month-end and during the month. Shift the tedious work of matching bank transactions to general ledger transactions to FloQast AutoRec™ Matching, the industry’s first AI-driven account reconciliation software that quickly and easily reconciles transactions even with differences or variations, in real-time.
Easily amortize your prepaid expenses
Enable your team to truly analyze accounts and align them with business activity by moving the manual reconciliation for calculations in prepaid expenses, deferred revenue, and similar accounts reconciliations to the automation available in AutoRec™ Amortization. Automating the tedious stuff gives you the flexibility to do the hard stuff, and bring more value to the business and business needs beyond the close process.
Automated Excel reconciliations in a click
FloQast AutoRec™ is account reconciliation software that seamlessly integrates with Excel, unlike most reconciliation tools. Automatically create standardized Excel reconciliations in a single click, producing presentation-quality, fully auditable Excel reconciliations for your accounts. The standardized formats provide clear evidence of the reconciliation for management and your auditors, reducing review time and audit questions, and enabling you to automate your accounting processes.
ESTABLISH REPEATABLE PROCESSES TO FLOURISH UNDER SCRUTINY
Organize and engage your entire team to master public company requirements, whether you’re on the path to IPO or an established public company already.
Get used to the drill in the run-up to your IPO
Document and refine your processes before your IPO day comes, so you’re already primed and ready when it counts. On average, FloQast teams close the books three days faster because everything in their close process is clearly documented and assigned, and all team members know what’s expected of them and how it relates to the team’s overall completion goals. FloQast Analyze identifies bottlenecks in your process, which can unlock even more efficiency gains.
Centralize all SEC filing activities
Through seamless integration with Workiva’s disclosure document preparation platform, FloQast centralizes all your SEC filing workflow activities. Much of the documentation required for explanatory and supplemental notes to financial statements, such as reconciliation summaries for key accounts, are easily found and retrieved within FloQast.
Pre-close to filing – end-to-end visibility
FloQast’s dynamic capabilities ensure clear assignments to collect and prepare all the inputs to any reporting or downstream activities post close. These range from notifications to the SEC team or local teams for statutory reporting. And all of it easily rolls forward to the next time those activities must be repeated – monthly, quarterly or annually. Apply the same regimen for flux analysis.
YOUR RELATIONSHIP WITH YOUR AUDITORS MATTERS
Make it a highly productive one. Ensure workpapers are complete and everything ties out before auditors arrive for fieldwork. Receive notifications when balances have changed so you never provide out of date PBC support again. Show auditors you have adopted software to enhance controls and manage corporate governance.
Customized auditor access
Reduce your team’s time spent responding to PBC requests, and cut length of fieldwork, by providing restricted access for auditors to review documentation at your discretion. The more they can rely on software controls, the less they test manually. It’s hard for them to continue running up billable hours when you’ve just made it easier for them to do their job, all while making yourselves stand out amongst your peers.
Auditor reliance on FloQast controls
Provide date and time-stamped preparer and reviewer sign-offs. Unique user roles and associated access rights enforce segregation of duties. Folder locking enforces concept that all work is complete, and no further adjustments are allowed. Activity is tracked in audit logs. Additional preventive and detective controls exist to mitigate risk. Compliance documentation provides auditors comfort with FloQast controls.
Assure all tasks and reconciliations have been fully prepared and adequately reviewed. Completeness check confirms all actively reconciled accounts in the ERP are reflected in FloQast. All supporting documentation is centralized for ease of review. Review Notes capture qualitative evidence of review between management and staff. Automatically roll-forward reconciliations to following period, ensuring consistency and accuracy of assumptions made within reconciliations.
Automated reconciliations and tie-outs mean no human errors. This means Auditors can rely on system controls–and not time-consuming procedures around manual processes. Faster audits result in lower fees and reduced impact on your team.