Our primary goal with FloQast is to enable accounting teams to become more efficient and transparent while producing data that can be relied upon for reporting purposes. One of the ways to get us closer to our goal is by providing real-time information to Users and Admins whenever action is required by the team; more specifically, as it relates to out-of-balance reconciliations.
When an account goes out of balance, either by a manual rec refresh or the automated nightly refresh, FloQast will now send an email notification showing which accounts are out of balance as well as show a red banner across applicable pages in the application so users are aware and can address immediately.
Before, the nightly refresh accomplished both of the above actions only in the expected working period. For example, it would now be functioning in the December close when the nightly refresh runs. However, when the refresh is done manually it will work in whatever period the recs are ran. This will help teams that may be ‘closing’ a few months behind.
Reconciliations Notification FAQs:
- When is an email notification sent?
When a previously reconciled account that was signed off becomes out of balance. This email will get sent once the account is noted as out of balance, either real time through a manual refresh or through the automated nightly refresh.
- Who receives the email?
The Preparer and/or Reviewer that has signed off on the rec when it goes out of balance or if all assignees have signed off and the rec is completed when it goes out of balance, then each team member and the team's FloQast Admin(s) will receive a notification.
- Who will see the ‘Red-Recs’ Notification Banner?
Users that have signed-off on a reconciliation that has gone out of balance.
Admins and Managers of the entity for which the signed off reconciliation has gone out of balance.
- Which pages will show the ‘Red-Recs’ Notification Banner?
All Entities Dashboard
Single Entity Dashboard
Close the Books
- What does the banner look like?
The notification will show unless dismissed by pressing the ‘Cancel’ button in the notification bar, or action is taken to clear the notifications (removing sign-offs, or correcting error balances and reconciling amounts). The cancel will dismiss the ‘Red-Recs’ banner for the session, meaning it will reappear upon signing back in unless the reconciliation has been amended.
- What happens when the user clicks ‘Take a Look’?
If the ‘Take a Look’ Button from the banner is clicked the user will be taken to the ‘Reconciliations Page’ with their name automatically entered in the search bar and the ‘Unreconciled’ Filter being applied.
- Can Users opt out of this feature?
Yes, a User can opt out of these notifications through User Settings by disabling the ‘Reconciliation Emails’.
If you have any additional questions regarding the Reconciliation Notifications, please feel free to reach out to your FloQast Account Manager and/or firstname.lastname@example.org.