Company News
New Year, New Flux: FloQast Flux Analysis Adds A Key Update
2019 might only be 11 days old, but it’s been a whirlwind week and a half for the FloQast team. In addition to being named as one of the 100 Best Places to Work in Los Angeles by Built In LA, we’re proud to announce a helpful update to our Flux Analysis module.
Designed as a way for busy accounting teams to execute the vital — yet time-consuming — task of fluctuation analysis, FloQast’s Flux Analysis module now offers users a way to view only one NetSuite “subsidiary” or Intacct “location” at a time. Until recently, only a consolidated flux was viewable, but after diligent work by the product team, users can now filter (#1 on the screenshot) by subsidiary or location (#2 on the screenshot) and export the results of the designated account.
Initially released in October, Flux Analysis allows teams to compare ending account balances with prior periods, offering a new, powerful way of identifying material differences that can easily slip through the cracks. In a recent FloQast user survey, less than 60 percent of accounting teams regularly conducted a balance sheet flux analysis in their monthly close process, an alarming figure considering the potential insights the practice can reveal.
Not only can users spot fluctuations automatically, but there’s also a way to enter explanation text for others to read. Additionally, the balances update dynamically, eliminating the need to worry whether there’s a more up-to-date version available.
Interested in learning more about FloQast Flux Analysis?
Schedule a demo today and see how much time and energy your team can be saving each month.
Blake Oliver
Blake Oliver, CPA, is an entrepreneur, accountant, writer, and speaker who specializes in cloud accounting technology. In 2016 and 2017, Blake was named a “40 Under 40” in the accounting profession by CPA Practice Advisor. He is the Senior Product Marketing Manager for FloQast.
