The FloQast Completeness Check helps you rest assured that your entire Balance Sheet is being tied-out each month.
The Completeness Report is available to Admins and Managers in FloQast and is accessible from the Reconciliations tab. Running this report will:
• Current month’s Trial Balance
• Last month’s Trial Balance
• Balance Sheet accounts with an ending balance
• Balance Sheet accounts with activity month over month (even if the current month is $0)
3. Cross Reference:
• Your list of reconciliations that currently exist in FloQast to identify any missing accounts.
The results of this report (aka the accounts with activity that are NOT being reconciled yet) will export to Excel. If you'd like to add them to FloQast as Reconciliations, follow these instructions here!
Note: The Completeness Report will take into account any reconciliations that have a Quarterly or Annual frequency. For example, October would not be a quarter-end or year-end period for a 12/31 FYE client. When you run the completeness report in October, there may be accounts present on the TB that are not being reconciled in the month of October within FloQast. However, if they are being reconciled quarterly (March, June, September, December) or Annually (December) then they will NOT be added to the October completeness report. They are intentionally omitted from your October reconciliations based on these settings, so the Completeness Report will not alert you to them in this month-end period.
All Entities vs. Single Entity Completeness
If all of your entities share the same Trial Balance and Chart of Accounts file, then you will have the Shared GL setting ON. This means you should run the Completeness Report from the All Entities view. The Completeness button will be grayed out from a single entity view:
If your entities use their own unique TB/COA files, then you will have the Shared GL setting OFF. This means you should run the Completeness Report from the single entity view for each respective entity. The Completeness button will be grayed out from the All Entities view:
FloQast Pro Tip:
Add “Run the Completeness Report” as a monthly Checklist procedure so you never forget!