Some processes make sense to automate, while others require manual but efficient management. Enhance your reconciliation process with an end-to-end AI-enhanced solution tailored to your specific needs.
Drive efficiency and reduce risk with a smart, flexible reconciliation strategy.
Bring reconciliations into one place to streamline status updates and review processes with visibility into the readiness of reconciliations. Receive automated alerts when reconciliations are due, ready for review, or when accounts unexpectedly go out of balance.
FloQast automatically tracks timing and unknown errors to ensure all reconciling items are recorded, tracked and managed in one place. Know precisely why reconciliations don’t tie out and fix them in minutes.
Complete automated reconciliations with AI-assisted intelligent matching, Amortization, Depreciation, and Subledger data so your team can manage the process by exception, remove manual tie-outs, and focus on higher-risk reconciliations.
“AutoRec gave me at least 22 hours back on my schedule. Now I can focus on items that need additional research rather than manually seeking out matches.”Lexi Graham
FloQast Reconciliation Management allows teams to choose each balance sheet account’s most effective reconciliation method. AI-assisted intelligent matching automates the reconciliation process for various use cases, such as bank reconciliations, intercompany accounts, subledger reconciliations, and others. AutoRec Amortization sets up automatic amortization schedules for prepaid accounts, and AutoRec Depreciation sets up automatic depreciation schedules for fixed assets. FloQast also integrates with spreadsheets for reconciliations that are better done manually.
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Reconciliation Tie-Outs gives accountants a centralized view of the reconciliation status of each account, with balance comparisons, preparer, and reviewer sign-off dates. Automated controls are in place to prevent sign-offs above materiality thresholds and the ability to lock down reconciliations from further changes. Teams can automate tie-outs between reconciliation workbooks, subledgers, and the general ledger, along with automated completeness checks to gain confidence in a reconciled trial balance.
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Reconciliations don’t always tie out. Some items are fully understood but need correction in the general ledger, while others need further investigation outside the Financial Close. FloQast’s Reconciling Items feature tracks timing and unknown errors to ensure 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.
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The power of the FloQast Reconciliation Management Solution is that accounting teams capture all supporting documentation and workflows at the source. With FloQast, the auditors can access explanations for reconciling items and view evidence for control execution with read-only user access. FloQast decreases the audit burden on the team and keeps auditors happy with centralized and organized audit evidence for reconciliations. The result is a smoother audit with high-value interactions between the auditors and the accounting team.
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Founded by former accountants who understand the importance of choosing the right reconciliation strategy, FloQast was built for fast reconciliation workflows without the risk.
Unlike most enterprise solutions, you can fully deploy and train your team on FloQast in just two weeks. Avoid costly, months-long implementations and start automating the slowest parts of your reconciliation process.
Connect to communication tools like Slack and integrate FloQast with your ERP for full visibility into your close process and other key workflows.
Execute account reconciliations so your team is audit-ready all the time. Use FloQast to ensure work is complete and reconciliations tie out before auditors arrive for fieldwork.
Are you in the middle of the Close and want to implement a tool that helps your team execute the Close quickly and accurately? See how FloQast can help your team automate accounting workflows and track Close tasks in a single solution.
Gain confidence in your control environment and quickly gather PBC requests for the auditors to reduce pain points in SOX Compliance. See how FloQast can help your team prepare for your next SOX audit.
With FloQast, Bluecore was able to cut its Month-End Close from 2 days to 10 while automating much of the reconciliation process with FloQast Reconciliation Management
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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.
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