Supporting documents saved in FloQast each period through your cloud storage provider can be rolled forward to the new period. FloQast automatically creates the new folder structure on the first of the month. However, the supporting documents are not automatically rolled forward.
To roll documents forward to the new period, select the given accounting period and the accounting process folder. Once the folder is selected, the application automatically navigates to the Folders tab.
Once there, select the Roll Forward icon in the Documents section shown below:
After that, you will be able to select whether you want to roll forward for this individual folder or use Bulk Roll Forward to roll forward multiple folders at once.
Single Roll Forward
Upon selecting Single Roll Forward, any corresponding documents from the previous period will be shown. All applicable documents from the previous close can be selected and rolled forward. Additionally, all documents can be renamed when they are moved to the new period. To rename the document, simply type into the name area and replace existing naming conventions or add additional digits.
When the documents have been selected and re-named, as needed, click the Roll Forward button to move them forward to the new period in FloQast. In addition to the documents being moved forward in FloQast, these documents will also be replicated in your cloud storage system. The prior period does not have to be closed in order to use the roll forward functionality.
Keep in mind that you can only roll forward documents into a process folder that is currently empty. If the folder shows as empty in FloQast, but you receive an error, review the folder's contents within your cloud storage as files may have been placed there, but the Refresh button within FloQast may not have been clicked yet to reflect them. If, by chance, you only roll forward a few of the documents you need, you can actually roll forward again, once the files are removed from the corresponding cloud storage folder.
Bulk Roll Forward
After clicking the Bulk Roll Forward button, you will be prompted to select which folders you would like to roll forward. You can roll forward any folders that are empty in the current period but have files in the prior period. By default, only spreadsheets will be rolled forward, but you can choose to roll forward all files in the applicable folder as well.
After initiating the Roll Forward, you will be able to monitor the process, and will be alerted to any issues rolling forward.
If there were any errors, you will be presented with a summary of the error messages and be able to copy them with one click to share for troubleshooting.
After the files are rolled forward, they will be automatically renamed to contain the current period (_fqrf_YYYY-MM). If your file names do not contain this date anchor, it will be automatically appended, and if it is already there, it will be updated.
After you use Bulk Roll Forward for the first time, we recommend reviewing your file names and removing any period references outside of the appended anchor. At this time, it is not possible to use a different date convention for your files with Bulk Roll Forward, and the date anchor must be at the end of the file name.
Finally, we would recommend refreshing your Reconciliations after running Bulk Roll Forward, as only the folder you initiated the Bulk Roll Forward will be automatically refreshed.
Please reach out to your Accounting Success Manager or Support@floqast.com if you have any questions!
Note: All document types are supported, but you can only reconcile .csv, .xls, .xlsm, and .xlsx files. For additional Reconciliations questions, please see the Reconciliations article for users.