While the close process can often feel chaotic, FloQast Analytics offers a clear view of where things stand overall and helps to quickly identify any problem areas to address. It allows Admins and Managers to confidently communicate close progress to the team, as well as to company management. Moreover, Close Analytics provides the insights to drive continuous improvement and accountability for the entire close process.
Close Progress
All Entities: Current Close
If you have multiple entities in FloQast, you will land on the All Entities view of Analytics for the Current Close.
The second most-recent month is considered the "current close period" in FloQast. For example, August will be the "Current Close" period for the calendar month of September. September will become the "Current Close" period when the calendar flips to October.
From this view, you will see a donut-chart that shows the % of your entities that are on track, late, or fully closed.
To the right of the donut-chart will be individual bar graphs of each entity's progress. These bar graphs will show the % of sign-offs completed to date in that entity. The bars will be color-coded to match the donut-chart.
On Track = Not all sign-offs are completed yet, but all due dates have been met so far. There are outstanding items still to be completed later during this close cycle.
Late = Not all sign-offs are completed, and some incomplete sign-offs are past their due date.
Closed = All sign-offs are completed. Well done!
Beneath the graphics, you can find a more detailed breakdown of the data. There will be three ways to sort the data: Entity, Folder, Team Member
View by Entity:
The "View by Entity" chart will show the sign-off counts that make up the percentages reflected above. Note: The counts in the Complete, To-do, and Total columns are not counts of items (i.e. Checklist procedures and Reconciliations); they are counts of the sign-offs required on these items. For example, a reconciliation with one preparer and one reviewer will account for two sign-offs on this graphic since both sign-offs are required for the item to be complete. A Checklist step with two preparers and one reviewer will account for three sign-offs. The respective due dates for these sign-offs are considered when determining late vs. on track.
View by Folder:
The "View by Folder" chart is an expansion of the Entity view from above. Each process folder will be displayed with the associated sign-off counts and status.
View by Team Members:
The "View by Team Members" chart will display the completed vs. outstanding assignments for each of your FloQast users. Here you can get a glance at which team members have wrapped up their assignments vs. those that might be behind this month.
Change Month for Close Progress:
You may view historic periods from an All Entities view, and even toggle ahead to next month's close, by using the Month drop-down here:
Export data from All Entities view:
The Export button is available from the All Entities view, which means you can get all data from a particular close period into a single export! Read more about the many benefits of exporting this data here.
