Note: If you prefer to watch a video on this topic, we have two helpful FloQademy FAQ Courses on Creating an Entity and the FloQast Mapping Document.
An Admin or System Admin can add a new entity to FloQast from the Admin Settings (Gear Icon). There are two different methods to add new entities.
1. Entity Setup Wizard
The easiest way to create an entity in FloQast is to use the guided Entity Setup Wizard. This can be opened from the Entities page in your Admin Settings by clicking Add Entity.
This will open up the Entity Setup Wizard, which will walk you through entity creation step by step.
The first step is to fill in the entity's details:
- Copy Settings from Existing Entity: If you wish, you can select one of your existing entities and have this new entity inherit its settings upon creation. This applies to entity-level settings such as Time Zone, Strict Sign-Off Mode, and Holiday Calendar, among others. If you select an entity, the specific settings being inherited will be displayed under Additional Settings at the bottom of the page.
- Entity Name: This will be the name that is displayed in FloQast for the new entity. A corresponding folder will be built in your Cloud Storage underneath your root FloQast folder. It will be named FQ - Entity Name. Please note that certain special characters are prohibited from your entity name. Your new entity name should also be unique from any pre-existing entity names.
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Workflow: You can select which of your workflows you would like this entity to be placed in.
- For quarterly entities, they can NOT belong to a Close workflow type.
- Frequency: You can select if you would like this entity's folders to be created on a Monthly or Quarterly basis. Please note that Quarterly is only available for entities in a Non-Close Workflow.
- Year End: This is the fiscal year-end of the new entity. The FYE of your other entity(s) will be filled in here, but you may change it if this new entity differs.
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Start Period: This will be the first month created in FloQast (and cloud storage) for this entity. You may back-date your entity up to 2 years. You may not future-date the entity (i.e. if you wanted your entity to begin in some future month, you would need to revisit the Admin Settings and create your entity at that time)
- Quarterly Entities - This will be the first QUARTER created in FloQast (and cloud storage) for this entity. The format for Start Period will be QQ/YYYY (ex. “Q4/2022”). You may back-date your entity up to 2 years. You may not future-date the entity (i.e. if you wanted your entity to begin in some future month, you would need to revisit the Manage Entities page and create your entity at that time)
- Calendar Type: This will be the calendar type your entity uses; you can choose from the Standard Calendar, the Non-Close Calendar, or Retail Calendar. This article breaks down the calendar settings in more detail.
- Workweek: You can select which days of the week your team works. These will be used to ensure your business day deadlines are calculated based on the specific days your team works.
Next is the new entity's Integration Settings. This will show you the date of the most recent sync with your Cloud Storage Provider, as well as the account synced with FloQast. Additionally, here is where you will choose the General Ledger for this entity to use.
If this new entity will be using a different General Ledger than your existing entities, click Select New General Ledger. From there, you can choose one of our direct integrations or for the entity to be Trial Balance Upload. If you need assistance setting up a direct integration or are creating a Trial Balance Upload entity with a new Trial Balance and Chart Of Accounts format, please reach out to your Accounting Success Manager or support@floqast.com.
If you choose to use an existing General Ledger, you will be able to select any of your existing entities. Please select one that is connected to the same ERP you would like this entity to be connected to if using a direct integration or one that will have Trial Balance and Chart of Accounts files in the same format.
After that, you will be taken to the step of applying a template for your entity.
If needed, you can click View Templates to get started, where FloQast has provided a set of mapping documents for your convenience.
You can choose one of our Best Practice Templates, download a blank template to fill out or download the template from one of your existing entities. If needed, here is a helpful article covering the Mapping Document process in detail.
Once you select a template, you can upload that file or click Skip if you would like to manually create your folders.
If you uploaded a template, you will see the folders from that template populated here and can add any additional folders if needed. If you chose to skip that step, here is where you can add your folders manually. Once your folders have been created, you can move on to the next step.
Here, you will be able to see any team members who will have access to the new entity upon creation. This will default to any Admins and System Admins in your team's FloQast, anyone assigned an item on an uploaded template, and you, the Admin creating this entity. You can remove and add users as needed.
Finally, you will be able to review all of this information, as well as the amount of Checklist Items and Reconciliations being created, and then you can finish your new entity.
At this point, the entity creation will run in the background, and FloQast will alert you when complete.
2. From an existing Entity's Settings
The other method is to make the entity manually from another Entity's settings, not using the guided setup wizard. Once in the Admin Settings, select Entities, click Manage to the right of one of your existing entities and then scroll down to the Add New Entity Section.
You will be asked to fill in multiple fields:
- Entity Name: This will be the name that is displayed in FloQast for the new entity. A corresponding folder will be built in your Cloud Storage underneath your root FloQast folder. It will be named FQ - Entity Name. Please note that certain special characters are prohibited from your entity name. Your new entity name should also be unique from any pre-existing entity names.
- Workflow: You can select which of your workflows you would like this entity to be placed in.
- Frequency: You can select if you would like this entity's folders to be created on a Monthly or Quarterly basis. Please note that Quarterly is only available for entities in a Non-Close Workflow.
- Year End: This is the fiscal year-end of the new entity. The FYE of your other entity(s) will be filled in here, but you may change it if this new entity differs.
- Start Period: This will be the first month created in FloQast (and cloud storage) for this entity. You may back-date your entity up to 2 years. You may not future-date the entity (i.e. if you wanted your entity to begin in some future month, you would need to revisit the Admin Settings and create your entity at that time)
- Calendar Type: This will be the calendar type your entity uses; you can choose from the Standard Calendar, the Non-Close Calendar, or Retail Calendar. This article breaks down the calendar settings in more detail.
After that, you can click Create New Entity, upload your Mapping Document, and your new entity will be created.
What ERP Settings will my new entity inherit?
Your new entity will inherit the ERP of the entity that you are currently viewing. When you are on the Manage Entities page, you will always be clicked onto one entity in particular. If you are viewing an entity connected to NetSuite ID 12345, the new entity will be connected to NetSuite ID 12345. The same goes for Intacct. In most cases, this is perfect- you will want your new entity to inherit your existing connection to NetSuite/Intacct.
What if I upload my TB manually?
If you manually upload your Trial Balance to FloQast (or rely on FloQast Connect to deliver your Trial Balance to FloQast) then your new entity will be considered a "TB Upload" entity. FloQast has written a special script to read the format of the Chart of Accounts and Trial Balance that you provide via Excel/CSV. When you create a new entity, it will inherit the script of the entity you are viewing and therefore your COA/TB format will be expected to mirror those files of the existing entity. This can be easily updated if the new format differs- please contact support@floqast.com and provide redacted files for formatting.
What if I use QBO or have an Intacct Console Setup?
If you use QBO, have an Intacct Console setup with multiple clients, or generally need to add a new entity with a brand new ERP connection, you may choose the "Select Different Credentials" button and choose the ERP desired. The UI will include a new section to enter your new ERP credentials:
Can I base my new entity on an existing entity?
Absolutely! You will specify the folders, checklist items, and reconciliations for your new entity by using a Mapping Document. The Mapping Document can be made completely from scratch. But it can also be configured to mirror an existing entity. The Mapping Document is essentially a side-by-side combination of your Checklist Template and Reconciliation Template, which are exportable via the Manage Checklist and Manage Reconciliations tabs, respectively.
What must be included on a Mapping Document for the upload to succeed?
You will need at least one folder, one checklist item, and a frequency specified for that checklist item. Anything less than that (i.e. a blank template) will result in an error creating your entity.
Can I include reconciliations on the Mapping Document?
Yes, if you rely on one of our ERP integrations (NetSuite, Intacct, or QBO) then you may include reconciliations on your initial upload. This is because we have your Chart of Accounts on file from the integration.
If you are a TB Upload client, then reconciliations will NOT be recognized from your mapping document. This is because we do not have your Chart of Accounts on file until you upload it to FloQast. After this has been uploaded, you may import reconciliations or add them individually using the Add Account drop-down menu.
Who gets access to new entities?
The following individuals will inherit access to the new entity: The Admin/System Admin that created it, any user whose email appears as a preparer/reviewer on the Mapping Document, and the person indicated as the "First User/Main Admin" from your original setup. If someone needs access but does not fit these qualifications, you can always edit the Entity Assignments on the Manage Teams page!