The Reconciliations tab of FloQast is where - you guessed it - the magic of the reconciliation process takes place! On this tab, FloQast will place your GL balances side-by-side with your supporting balances, giving your team real-time visibility into every reconciliation.
When everything ties out as expected, sign-offs can be performed by your preparers and reviewers with timestamps recorded. When things don't quite add up, differences will be displayed to help identify action items. And if a material change in balance occurs after the fact, FloQast will catch the update and alert the appropriate individuals on your team.
Per GL Column
FloQast can work with any ERP or Financial Reporting System to pull ending GL balances into the "Per General Ledger" column. Your balances will stay up-to-date whether you rely on one of FloQast's seamless APIs with your ERP, automate the delivery of your Trial Balance data via FloQast Connect, or upload your Trial Balance file to FloQast on demand.
Per Excel Column
The "Per Excel" column will populate from your support documentation, which can come from a variety of sources based on the type of Reconciliation. There are several types of Reconciliations in FloQast, and you can click the links below to learn more about each kind!
1. AutoRec Matching reconciliation
2. AutoRec Amortization reconciliation
3. Fixed Balance reconciliation
4. Standard Excel reconciliation
5. Grouped Accounts reconciliation
You can view your Reconciliations from an All Entities view, or you can narrow your focus to a single entity, as well as select to view by period(s) or by due date:
Filters and a search bar are also available on the Reconciliations tab to help strategically sort through reconciliations. Learn more about all of the benefits of filtered views here!