How do I turn on AutoRec Depreciation?
FloQast AutoRec is turned on at an account-by-account level. The best way to enable it for a given grouped account is to use our Inline Editing feature. Simply follow the steps below to turn AutoRec on for your accounts!
- From the Folders or Reconciliations tab, hover over a particular grouped reconciliation and click on the "Gear" icon to open the settings for that Reconciliation (available to Admins and Managers in FloQast)
- Click "Edit" on the General Settings section
- Click the "Reconciliation Type" drop-down menu and select AutoRec Depreciation. Note that this option is only available on grouped accounts.
- Save your changes! Make sure to apply your changes to "this period and going forward." This will allow you to begin using AutoRec in the current period, and will also make it available in your future periods in FloQast.
Where does AutoRec Depreciation appear within FloQast?
The option to open "AutoRec Depreciation" will appear underneath your accounts in both the Folders tab and the Reconciliations tab.
How do I begin using AutoRec Depreciation?
When you first click on the blue AutoRec link below your reconciliation name, you will be greeted by the Pairing page, where you can match your asset accounts with their corresponding depreciation accounts.
Next, choose your preferred calculation method:
Choose whether you want to start from scratch, upload a summarized template from Excel, or upload a detailed historical template:
If you chose Summarized History, you can map your account pairings with your existing spreadsheet fields:
Finally, select your starting & ending rows, and upload the file for the account pairing you chose:
Click Import, and you’re done! If you’d like to upload for the next account pairing, you can select the Add More Items popup and repeat the process. Or, if you’d like to review the data before uploading again, you can close the popup. Whenever you’re ready to upload again, select the Add Items button and choose Bulk Upload.
If you chose Detailed History, enter the period that you'd like your history to go back to and then download the blank template:
Fill out the template per the headers in each column, being sure to enter the GL Account number for each asset in column A:
Finally, upload the completed Historical Template:
Frequently Asked Questions
Why are items suddenly showing as ‘Unallocated?’
- Someone removed an account from the Reconciliation Account Group, and all of the items associated with that account have been moved to an unallocated list. They will need to be allocated to different accounts, or the original account will need to be re-added to the account group on the Reconciliations page.
Why can’t I roll my schedule forward?
- You may have unallocated items! Please review the previous Q&A for the solution.