[ FloQast Reviews ](https://www.g2.com/products/floqast/reviews) [ FloQast Reviews ](https://www.g2.com/products/floqast/reviews) # FloQast Features ##### ## General Ledger (3) Journal Entries Increases user efficiency by auto-populating based on previously entered information. Schedules future entries. Allows Journal Entries to be uploaded from an external source. Tags / Dimensions Ability to tag all transaction in the general ledger with customizable dimensions, classes, categories, etc. These dimensions should be available on any transaction in any module in the system and available to be reported upon. Audit Trail Automates chronological tracking of transactions that have affected a specific operation, procedure, event or record Show More ##### ## Other Functionality (3) Multi-Entity / Consolidation Multi-ledger and multi-tenant architecture. Automated consolidations, inter-entity transactions and eliminations Recognition Rules Automates recognition of revenue and expenses by defining recognition rules. Reconciliations Transactions are imported from source systems and automated matching reconciles majority of transactions. Includes user flexible, user defined matching and grouping rules to help reduce the time needed to produce accurate reconciliations. Show More ##### ## Reporting & Analytics (3) Financial Statements General reporting offered covers all of the standard financial statements and meets the basic needs of the business Custom Reporting Reports created by the user to cater to specific requirements. If you can build it in Excel, you can build it in the custom report writer Dashboards An easy to read, often single page, real-time user interface, showing a graphical presentation of the current status and historical trends of an organization's Key Performance Indicators (KPIs) to enable instantaneous and informed decisions to be made at a glance Show More ##### ## Platform (6) Customization Allows administrators to customize to accommodate their unique process. Includes ability to create custom objects, fields, rules, calculations, and views. Workflow Capability Automates a process that requires a series of steps that typically require intervention by several different users. Administrators can write rules to determine who and when a user needs to complete a step. Also includes notification of users when they need to take action. User, Role, and Access Management Grants access to select data, features, objects, etc. based on the users, user role, groups, etc. Internationalization Enables users to view and transact business with the same content in multiple languages and currencies. Performance and Reliability Software is consistently available (uptime) and allows users to complete tasks quickly because they are not waiting for the software to respond to an action they took. Output Document Generation Allows administrators to create templates that enable users to quickly generate dynamic documents in various formats based on the data stored in the application. Show More ##### ## Integration (3) Data Import and Export Tools Ability to input, modify and extract data from the application in bulk through a structured file. Integration APIs Application Programming Interface - Specification for how the application communicates with other software. API's typically enable integration of data, logic, objects, etc with other software applications. Breadth of Partner Applications To what extent are there partner applications readily available for integrating into this product? Partner applications typically provide complementary, best of breed functionality not offered natively in this product. Show More ##### ## Cash Flow (3) Track Cash Flow Check cash on hand at the beginning of each month and view each day’s incoming and outgoing funds. Income and Expenses Add one-time or recurring cash flow items and add line items for each payment or deposit. File Exports Timesheets, projects, tasks, income or expenses can all easily be exported to pdf, xls or csv for simpel cash clow analysis. Show More ##### ## Budgeting & Forecasting (3) Data Import Import trial balance, monthly P&L, balance sheets, and other types of financial data Versioning Keeps track of all versions of a budget and allows users to compare versions Historical Data Forecasting is based on past transactions and historical financial or operational data Show More ##### ## Revenue (3) Revenue Types Supports multiple types of revenues, such as recurring and transaction based Revenue Allocation Allows users to allocate revenues to various business entities or departments Scheduling Automatic scheduling to ensure that revenue is recognized at the proper time Show More ##### ## Reconciliation (3) Consolidation Data from multiple systems can be centralized into a single repository Management Financial information can be imported from multiple sources such as spreadsheets, text files, or databases Accounting Match invoices, payments, and bank statement information Show More ##### ## Reporting (3) Report Types Provide multiple types of reports such as point-in-time snapshot reports, or year over year Standard Offers standard financial reports out of the box Custom Allows users to edit reports and to combine multiple reports Show More ##### ## Closing Process (3) Audit Creates workflows to assign tasks for audit and inspections, monitor work in progress, timelines, and approvals. Journal Entries Adjusts journal entries in order to have an accurate balance sheet and income statement Distribution Financial statements and statistical reports (such as KPI) can be assembled into financial packages Show More ##### ## Payroll (4) Direct Deposit Automatically deposits paychecks into employees' bank accounts. Check/W-2 Printing Allows administrators to print valid paychecks and W-2 forms. Tax Calculation Calculates taxes due and may include resources or tools for federal and state tax compliance. Reporting and Dashboards Access pre-built and custom reports and dashboards to track payroll costs and for compliance purposes. Show More ##### ## Generative AI (2) AI Text Summarization Condenses long documents or text into a brief summary. AI Text Generation Allows users to generate text based on a text prompt. Show More ##### ## Reconciliation - Financial Reconciliation (4) Automation Automates the process of comparing financial transactions between different accounts, statements, or systems Bank Statements Helps match transactions recorded in the company's books with those in the bank statement Exceptions Alerts users when exceptions and discrepencies can't automatically be resolved Algorithms Uses algorithms, such as rule-based matching, fuzzy logic, or machine learning techniques to help with comparing large sets of data Show More ##### ## Audit - Financial Reconciliation (4) Accuracy Ensures that financial records are accurate and precise, reducing the chances of errors that could lead to audit issues Compliance Meets industry-specific compliance requirements and supports regulatory standards Reporting Offeres customizable reporting features to provide a clear overview of the financial reconciliation process and any issues that may need attention Audit Trail Provides a detailed history of reconciliations and supports the accuracy of financial records Show More ##### ## Integrations - Financial Reconciliation (4) Accounting Integrates with accounting platforms to allow the import and reconciliation of financial data Inventory Integrates with inventory management systems to help reconcile financial data related to product movements, purchases, and sales ERP Integrates with ERP systems to reconcile financial data across various modules and departments Banking Integrates with banking systems to import and match bank transactions Show More ##### ## User Permissions and Security - Financial Reconciliation (4) Access Offers role-based access control (RBAC) allowing administrators to define roles with specific sets of permissions Authentication Uses features such as multi-factor authentication (MFA) to help ensure that only authorized users can access the software Encryption Has encryption techniques to prevent unauthorized access or interception of data Regulations Complys with regulations and standards, such as Sarbanes-Oxley (SOX), GDPR, or HIPAA Show More ##### ## Workflows - Audit Management (5) Audit Trail Displays all the changes made during audits, including details such as username, timestamp, or type of change in a centralized repository. Recommendations Coordinate and track recommended remediation actions. Collaboration Tools Facilitates collaboration between teams and stakeholders through shared workspaces. Integrations Integrates with risk management platforms, GRC tools, and other systems. Planning & Scheduling Facilitates the creation of audit plans, schedules, and reminders. Show More ##### ## Documentation - Audit Management (2) Templates & Forms Provide out of the box audit templates and forms for various processes and industries. Checklists Provides checklists Show More ##### ## Reporting & Analytics - Audit Management (3) Dashboard Dashboard provides real time or near real time updates and notifications in a centralized location. Audit Performance Provide information on the performance of the audit activities and processes. Industry Compliance Ensures audits are compliant with industry-specific regulations and standards. Show More ##### ## AI (10) Data Extraction Uses AI to automatically input data from receipts, invoices, and other documents Invoice Processing Uses AI to generates, send, and track invoices Expense Management Uses AI to categorize expenses, detect anomalies, and provide insights on spending patterns Fraud Detection Uses AI to detect unusual patterns and flag potential fraudulent activities in real-time Tax Compliance Uses AI to assist in calculating taxes, ensuring compliance with changing tax regulations, and automate the preparation of tax returns Support Chatbots Uses AI and NLP-powered chatbots to provide customer support and assist with queries regarding financial data and reports Bank Reconciliations Uses AI to match transactions recorded in the accounting system with those in bank statements Report Generation Uses AI to generate detailed financial reports, dashboards, and visualizations to provide insights into the financial health of the business Customizable Alerts Uses AI to set up alerts for various financial activities, such as payment due dates or low cash balances Predictive Analytics Uses AI to analyze data to identify trends and make predictions Show More ##### ## Mobile Applications - Accounting (6) Cloud Integration Enables synchronization of accounting data across devices in real-time Notifications Send push notifications for important updates, such as due dates, invoice statuses, or tax deadlines UI Simplifies interfaces to be user-friendly and tailored for smaller screens, such as mobile phones and tables Offline Allows users to view and update certain data without an internet connection Expense Tracking Allows users to capture and upload expense receipts directly from mobile devices Invoice Management Enables creation, editing, and sending of invoices Show More ##### ## Agentic AI - Financial Reconciliation (1) Autonomous Task Execution Capability to perform complex tasks without constant human input Show More ##### ## Agentic AI - Accounting (1) Autonomous Task Execution Capability to perform complex tasks without constant human input Show More ##### ## AI - Financial Close (5) Autonomous Task Execution Capability to perform complex tasks without constant human input Compliance Uses AI to ensure the following of rules and creates detailed audit trails which helps compliance and audit preparation. Reconciliation Uses AI to match transactions across accounts and systems, and flag exceptions and discrepencies. Data Collection Uses AI to extract, clean, and validate financial data from disparate sources, while identifying errors and inconsistencies. Analysis Generates AI-assisted financial reports and provides thorough analytical insights. 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