The Subledger API Balance Tie-Out process allows you to programmatically push balance information from your subledger source systems into FloQast. If the subledger balance matches the GL account balance, FloQast can automatically sign off for the Reconciliation on your behalf. To implement this process, you and/or your technical team must leverage two publicly available FloQast APIs.
You will first enable the Subledger Tie-Out feature on the applicable Reconciliations within FloQast.
Once your account has been enabled for FloQast API services, you must create an API key. Additional information on API key generation can be found HERE. Armed with your API key, you can begin following the steps listed below:
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Access your FloQast Reconciliation data:
Begin by pulling down Reconciliation data from within FloQast so that you can properly identify the reconciliation accounts by their internal IDs. This can be done via a public Reconciliations API endpoint with your valid API key.
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Match the FloQast Reconciliation IDs with balances from your subledger source systems:
The data you receive from Step 1 includes not just IDs but also account names, system IDs, and additional identifying information. This data allows you and/or your team to map the proper subledger balances to their respective FloQast Reconciliation IDs.
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Organize the data:
Whether referencing data from one subledger application or multiple, FloQast requires that the data be prepared into a specific format. This reduces the likelihood of errors when ingesting and processing data. This format can be found on our developer documentation HERE.
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Send the data into FloQast:
Once your data has been organized into our API’s required format, you can call our subledger balances API endpoint to accept and process the data.
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Repeat as necessary:
This is a programmatic process that reduces the need to manually upload files repeatedly. You can repeat this process as frequently as your business needs require. We typically recommend clients to start with a refresh frequency of 1 hour. If you currently use Cloud Connect today, we recommend sending us subledger data on the same cadence as the Trial Balance.
A high-level overview of the process described above can also be found in the attached graphic:
Subledger Transactions Export:
For reconciliations with the Subledger Balance Tie-Out setting enabled, you can also separately send the corresponding subledger transactions, and FloQast will generate supporting documentation in Excel. This report will only be available once you send transaction data for that FloQast Reconciliation.
- For AR and AP subledger accounts, the supporting documentation will be an Aging Report based on due dates.
- Other subledger reconciliations will be exported as an account register, containing the beginning balance, monthly transactions, and ending balance.
While our FQ Subledger API accepts a wide range of data fields or attributes, each subledger type will accept only a subset of attributes. The data you sent via our FQ API will be exportable in FloQast. The following list shows what information will be accepted and exported for each subledger type:
- Accounts Payable: Vendor, Due Date, Amount
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Accounts Receivable: Customer, Due Date, Amount
We recommend that you send all open transactions so that the aging reports capture all currently open invoices and not just the invoices that occurred during a set month.
- Inventory: Description, Record Type, Transaction Date, Reference Number, Quantity, Unit Value, Amount
- Fixed Assets: Description, Transaction Date, Asset Number, Asset Type, Record Type, Reference Number, Amount
- Accumulated Depreciation: Asset Number, Asset Type, Record Type, Transaction Date, Reference Number, Description, Amount
- Cash: Description, Record Type, Transaction Date, Reference Number, Clearing Indicator, Amount
- Purchase: Vendor, Record Type, Transaction Date, Reference Number, Description, Amount
- Sales: Customer, Transaction Date, Reference Number, Amount
- Payroll: Description, Record Type, Transaction Date, Reference Number, Amount
- Intercompany: Record Type, Trading Partner, Subsidiary, Transaction Date, Vendor, Customer, Reference Number, Description, Amount
- Leases: Description, Lease ID, Lease Type, Record Type, Transaction Date, Reference Number, Amount
- Other: Description, Record Type, Transaction Date, Reference Number, Amount
If you have any additional questions about functionality, implementation, or expected behaviors, please feel free to contact your ASM.