FloQast Reconciliation Management™

Manage the reconciliation process from strategy to execution.

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FloQast Reconciliation Management is an advanced workflow automation solution that works with FloQast Close to deliver end-to-end account reconciliation management, driving increased financial velocity and accuracy of the financial close while managing the risk of misstatement.

A Holistic Approach To
Reconciliation Management

End to End info graphic

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Reconciliation Management?

Why Floqast
Reconciliation Management

Flexibility to Choose A Reconciliation Method

FloQast Reconciliation Management gives teams the flexibility to choose the most effective reconciliation method for each account. AutoRec Matching automates the reconciliation process for bank, clearing, credit card, intercompany, and other accounts, saving your team signifiant time by matching thousands of transactions automatically. AutoRec Amortization sets up automatic amortization schedules for prepaid accounts. FloQast also integrates with spreadsheets for reconciliations that are done better manually.

Manage Reconciling Items

Reconciliations don’t always tie out. Some are fully understood items but need correction in the general ledger. Others are unknown and require further investigation. FloQast’s Reconciling Items feature tracks timing or unknown errors and ensures that all reconciling items are recorded, tracked, and managed in one place. FloQast gives reviewers greater visibility into the age and materiality of each reconciling item, and has a documented audit trail of resolution.

Manage All Reconciliations In One Place

Reconciliation Tracking gives accountants a centralized view of the reconciliation status of each account, with balance comparisons, preparers, reviewers, and sign-off dates. Controls are in place to prevent sign-offs above materiality thresholds, and gives the ability to lock-down reconciliations from further changes. Teams can automate tie-outs between reconciliation workbooks and the general ledger and perform automated completeness checks to ensure a reconciled trial balance. FloQast sends time-sensitive notifications when reconciliations are due, ready for review, and/or detects an unexpected out of balance condition.

See Floqast Reconciliation Management
In Action

Accounting Professionals Love Floqast Reconciliation Management

FloQast is a game-changer for managing our month-end reconciliations. Since starting at Twilio, I have been using FloQast AutoRec Matching for my bank accounts, AutoRec Amortization for reconciling our prepaid accounts, and Reconciling Items to have all the information at one source. FloQast Reconciliation Management gives managers and leadership greater visibility of balance sheet risk.

Sarah Rooney

Senior Accountant, Twilio

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