FloQast Reconciliation Management™
Manage the reconciliation process from strategy to execution.
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
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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
Explore FloQast Accounting Workflow Automation Solutions
FloQast Close™
FloQast Close centralizes all month-end checklist items and supporting documents, assign and track all tasks in real-time and collaborate better with review notes. Get real-time notifications and updates in Slack™. Leverage cloud storage and integration with your ERP to automate trial balance tie outs.
FloQast Ops™
FloQast Ops is a workflow manager that extends the power of FloQast Close to deliver connected accounting operations helping organizations on the path to operational excellence. FloQast Ops streamlines accounting operations with visibility to know, control to have, collaboration to happen, and automation to save time.
FloQast ReMind™
FloQast ReMind™ is an innovative Request Management Workflow add-on to FloQast Close that enables accounting teams to accelerate their time-to-close without adding stress or compromising accuracy. FloQast ReMind provides automated communications, streamlines information collection, and enables manage-by-exception with a new level of centralized visibility across the entire Close.
FloQast Reconciliation Management™
FloQast Reconciliation Management is an advanced workflow solution that allows controllers and their teams to automate and manage the reconciliation process with a centralized solution to provide greater automation, centralized visibility, improved cross-team collaboration, and audit readiness.
FloQast Flux™
Build a reliable flux analysis into your month-end close with FloQast Flux. Material fluctuations are automatically flagged and balances update dynamically. Flux allows your team to automate your fluctuation analysis in minutes rather than days.
FloQast Analyze™
FloQast Analyze provides valuable real-time insight to help improve your close process. Identify close trends and pinpoint gaps or bottlenecks in workload allocation to increase team efficiency and effectiveness.
FloQast Connect™
Extend FloQast’s native Microsoft Excel and cloud storage integration with FloQast Connect. Seamlessly integrate with mainstream ERPs, such as Oracle, SAP, Microsoft, Workday, and hundreds of other accounting systems.
