Variance AI Explanations allows users to utilize AI to perform an initial analysis on the account balance data and to generate an explanation of why an account balance changed month over month.
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NOTE: This feature is currently only available for NetSuite customers. Furthermore, it can only be used with Month-over-Month AND Quarter-over-Quarter Flux Reports.
How to use this feature:
For any GL account with a material fluctuation on a Variance Analysis report, you can click the AI Explanations icon next to the “Add Explanation” button on the right side of the report.
Once clicked, FloQast will begin to analyze the transaction details and generate an explanation. After a few moments, an initial explanation will appear on the screen.
If you want to refine the generated explanation further, input a short command into the text box below to instruct FloQast how you would like it changed.
Once you are satisfied with the results, click the “Use this explanation” button to transfer it to the Explanation text box on the right. If you would like to make any additional adjustments to the explanation, you can manually update it from within this field. When you are done and the explanation is finalized, click “Save” to apply it to the report.