New FloQast features are released daily to help accountants work smarter, not harder. Below is a running list of product updates. Please click any of the links to learn more about a specific area of the application. As always, you may contact your Setup lead, your dedicated Accounting Success Manager, or support@floqast.com for help getting started with these features and more.
February 2023
Compliance Management: Bulk Updates
In our Compliance Management module, you’ll now be able to make bulk changes to "test procedures", "assignees", and "due dates" via an import file. You can find this feature from the Audits page by clicking the "more" menu icon on a given Audit Project and selecting “Revise Tests”, where you’ll navigate to an import wizard to make bulk updates via Excel.
Quarterly Folders
We’ve just released a big new feature - Quarterly Folders! Like standard vs. non-close calendars, quarterly folders is a simple setting that can be toggled during the entity creation process. Quarterly Folders a quick selection that determines how many folders we create in the application and cloud storage across the fiscal year. This update will help with organization and visibility for users that deliver on a quarterly cadence. To learn more, head over to the FloVerse.
Compliance Management: Testing Dashboard
If you’ve wanted to see a quick snapshot of how your internal audit team is testing controls, we’ve just released a Testing Dashboard. This new dashboard will provide an understanding of how controls tests are progressing (i.e. Not started, In Progress, Ready For Review, etc.) for a given project. The dashboard provides the ability to drill-down by clicking on the progress bars to see specific phases or tests.
Ready for Review Notification Update
We've made an update to the to the Ready for Review Notification for those who want to be informed of items ready to be reviewed outside the current close period/month. Those subscribed will now receive this notification for all periods where an item is now ready to review, including in email, Slack, and MS Teams.
FloVerse Single Sign-on
It’s now easier than ever to join the FloVerse! If you’re already logged into the FloQast app, simply click the FloVerse icon in the navigation bar and your FloVerse profile will be automatically created. No need to go through a separate sign up process. Become a part of the FloQast community and visit the FloVerse today!
January 2023
Copy Requests in ReMind
ReMind requests can now be easily copied. With the click of a button, you’ll now be able to duplicate requests and save time when creating similar requests. Contacts, messaging, attachments, cadence, settings and details are all copied into the new request, while the send date of the new request will default to the current business day.
Updated SOX Compliance Navigation and Dashboard
We’ve rolled out multiple updates to the user experience in our Sox Compliance module. A new “Compliance Management” workflow is available. This new workflow has its own unique dashboard that highlights controls, risks and testing. Additionally, we’ve cleaned up the navigation tabs to only include items that are relevant to Compliance Management. Take a look at our help desk articles on the Compliance Management workflow for more details.
December 2022
Entity Setup Wizard
Setting up a new entity just became much easier! The Entity Setup Wizard can be accessed from the entity admin settings and is a step-by-step guide that will walk you through all of the details needed to create a new entity. Along with enhancements to the user interface and a new button location, you'll now be able to review the details of your new entity (settings, integrations, folders, team members, etc.) before submitting for creation. We hope you'll find this new feature will enable easier creation of entities and reduce the need to reach out to customer success for support.
AutoRec Matching Onboarding
AutoRec Matching now has an onboarding wizard! The process for starting AutoRec matching is now much easier, where you’ll be able to follow a guided process to get started. Highlights include simpler data gathering, tips for successfully using AutoRec matching and a review page to validate selections prior to upload.
AutoRec Amortization for Grouped Recs
The AutoRec Amortization module now supports grouped reconciliations. While using AutoRec, you’ll have the ability to group items into the various GL accounts that make up the grouped reconciliation. In addition to the existing Rollforward and Amortization tabs, a new Summary tab has been introduced which displays the relevant subtotals for the GL accounts. For more details, check out our helpdesk article.
Support for Larger File Sizes
We are now offering support larger file sizes, up to 1GB for XLSX and XLSM file types. If your reconciliation workbooks have a large amount of raw data or if you reconcile a large number of accounts in a single workbook, you may benefit from this update. Please contact your ASM for additional information.
November 2022
Sign-off Reminder in Slack
Forget to sign off on a key task before you left the office earlier? With our new Slack sign-off reminder feature, you will soon get reminders of outstanding sign-off items due that day. You can take action immediately from within the desktop or mobile app and mark your sign-offs as complete! This convenient feature works with checklist items across any period, any workflow, monthly or quarterly folders, and any calendar type in FloQast.
AutoRec Matching Upload & Mapping Settings
Managing mapping settings for AutoRec uploads is now more streamlined! You’ll now have the ability to alter any mapping settings right from where you select your file. Match settings have also been moved from their existing tab into a new slide-out menu already present in AutoRec Amortization.
Multi-period view for Reconciliations
Multi-period select is now available for Recs! This feature enables the selection of multiple months in the period view on the Reconciliations page. Now you'll be able to find reconciliation items related to a particular period/month-end. Using the filter will populate the reconciliation page with any reconciliations related to selected periods.
Updated Single Workflow Dashboard
We are excited to announce that the redesigned FloQast Single Workflow Dashboard is now available to all customers! To learn how to get the most out of the new insights, check out the video below, view the help article for more details and complete the self-paced Dashboard training in FloQademy.
Filter Checklists by Unassigned
We've added a small, yet useful feature in Checklist filtering. The Unassigned filter makes it easier to identify when a task does not have an assignment and might need one. Now, identifying checklist items without an assignee is simple.
October 2022
Due Date View for Reconciliations
A new update to the FloQast Recs now allows you to view items by Due Date rather than by period. At the top of your screen, you will be able to select if you want to see your items organized by Due Date, or by period. If you select Due Date, you can pick a range of dates, and all items due in that range will populate, regardless of what Period they are in.
AutoRec Amortization: Useful Life
Rather than requiring End Dates for our system to calculate amortization schedules, you’ll now be able to enter the useful life of an items in months. Our system will take the Start Dates, factor in the useful life, and automatically fill in the appropriate End Date.
Multi-period view for Checklists
Multi-period select is now available on the checklist! This feature enables the selection of multiple months in the period view on the checklist page. Now you’ll have more flexibility to find work that is relevant to you or past due in prior periods. Check out our help desk article for more details.
September 2022
Flux Trial Balances
Have you wanted to create flux reports with a trial balance that's different from your main entity trial balance used for reconciliations? This is now possible with Flux Trial Balances. You no longer need to utilize multiple shell entities in order to create flux reports that differ from your core entity’s trial balance. This feature offers an improved user interface by removing unnecessary entities in the navigation entity dropdown and entity listings across the app. This also removes the need to maintain multiple unnecessary entities within your settings.
Reconciliations Out-of-Balance Notification
We’ve added a new notification that alerts users when they have a Reconciliation that they've signed-off on, but has since gone out-of-balance. Our automation will detect the change and notify you. This notification will also send all Admins and Managers a carbon copy of that alert that went to the Reconciliation assignees as an "FYI". This notification is now available to receive by E-mail, Slack and Teams.
ReMind Checklist Highlighting
We are excited to announce a new feature of Checklists with the release of the ReMind Checklist Highlighting!
ReMind Checklist Highlighting leverages machine learning and natural language processing to call out checklist items that match a ReMind use case. Matching checklist items will be highlighted in green, making it more evident to you and your team when ReMind can be leveraged to save time as part of the close process. Once highlighted, all it takes is a single click to start the process of linking a ReMind request!
For further details, check out the help desk article on Linking the Checklist to ReMind here.
ReMind Inbox View
The new Inbox View for ReMind introduces several new features and user experience improvements to further centralize request management. Prevent unnecessary exports and save significant time with message previews and bi-directional communication, all while adding a new level of personability.
Features of Inbox View include:
- View responses and download attachments directly in-app
- Reply to data providers directly in-app
- Identify and remedy OOO/bounce automated messages
- Search and filter through data provider responses
- Adjust current cadences on-the-fly with “Add a Contact”
- Export message chains as an easily digestible PDF
- Prepend future templated messages with updated information
Try it out by hovering over a ReMind request and clicking on the “View Inbox” icon. For further details, check out the Inbox View help desk article here.
July 2022
FloQast Ops: Best Practices Checklists Now Available!
One of the most challenging parts of setting up a new workflow is finding the time to consolidate all the non-close tasks your team is performing. To help reduce this effort on your part, FloQast now offers a series of best practice checklists for each of our workflows! Simply navigate over to ‘Admin Settings,’ and you’ll see links to each best practice checklist page below the corresponding workflow. Feel free to download them and add/edit/remove tasks to better tailor them for your business needs. The best part is, these checklists are in FloQast’s mapping document format, so as soon as you’re done editing, they can be loaded into the system, and you’ll be up and running with your new FQ Ops workflow within minutes! You can click here to download them as well!
Due Date View for Checklists
A new update to the FloQast Checklist now allows you to view items by the Due Date rather than by period. At the top of your screen, you will be able to select if you want to see your items organized by Due Date, or by period. If you select Due Date, you can pick a range of dates, and all items due in that range will populate, regardless of what Period they are in. Check out our help desk article for more details.
June 2022
AutoRec Matching Bulk Upload
We are excited to announce a new feature for AutoRec Matching: Bulk Upload. With this new tool, you can now upload transactions to multiple Matching accounts at once. You can access the Bulk Matching tool by clicking AutoRec Bulk Matching on the Reconciliations tab. Click here to learn more!
ReMind: Entities and Transfer Request
The entities in your core FloQast environment are now mirrored in ReMind. You can associate ReMind Requests with specific entities to allow you more control over who can see Requests. Additionally, Admins and Managers can now transfer Requests to other users in ReMind. Click here for more information!
May 2022
Checklist: Every 2 Weeks Frequency
A new Frequency is now available in the FloQast Checklist: Every 2 Weeks. This will allow you to create a checklist item with deadlines every other week. We hope this can allow you to more easily track your processes in FloQast across all of your workflows. If you have any questions, please reach out to your Accounting Success Manager or support@floqast.com.
April 2022
Introducing FloQademy: On-Demand Training from FloQast
We are excited to announce FloQademy, a new online portal that delivers digital learning to meet accountants wherever they work. The new learning solution empowers controllers and their teams to onboard, engage, and expand their knowledge of FloQast solutions and accounting best practices. FloQademy ensures FloQast customers get the most out of their FloQast investment, from accelerated onboarding to continuous learning and certifications. To access FloQademy, just click the icon at the top corner of your screen. Please reach out to your Accounting Success Manager or support@floqast.com with any questions.
FloQast Ops: New Workflow Types, Manage Workflows Tab, and More!
We are thrilled to announce a new update to FloQast Ops that contains many exciting new features! First, FloQast Ops now has two new workflow types: Payroll Processing and Operations. Additionally, you can now have multiple workflows of each type, and you rename your workflows to better reflect the processes you are tracking. Finally, there is a brand new Manage Workflows Tab in the Admin Settings which can be used to create and edit workflows, as well as deactivate them! Click here to learn more, and please reach out to your Accounting Success Manager or support@floqast.com with any questions.
March 2022
ReMind: Dashboard Redesign
A new update to FloQast ReMind gives the Dashboard a brand new look! Not only does the Dashboard have a new design, but you can now filter by various fields to effectively narrow down request lists and search to find specific requests! Additionally, notifications have now moved to their own Notifications Center, and you can find Dashboard Stats to see how your requests are performing.
AutoRec Amortization: Guided Setup Process
We are so excited to share a new update to our AutoRec Amortization module. Now, when you set up a new Amortization Account, you will be taken to a new setup wizard that will walk you through setting up the account step by step. We even include FloQast's recommended best practices! Hopefully, this will make using AutoRec Amortization even easier for you and your team.
February 2022
Completeness Report Update
A new FloQast update has changed how the Completeness Report in FloQast is run. Before, you had to run Completeness Report from the All Entities view if your entities shared a General Ledger, or with individual entities selected if your entities did not share a GL. Now, you can run the Completeness Report for any screen, based on your GL Groups. You can group your entities together based on what general ledger they use in the Admin Settings, and then run Completeness for those groups from the Reconciliations tab in any view! Please reach out to your Accounting Success Manager or support@floqast.com with any questions, as we may need to change a couple of settings to get this up and running for you!
November 2021
ReMind: Integration with the Close Checklist
A new update to FloQast now allows ReMind customers to link a Checklist item in FloQast to a new or existing ReMind request. This will tie the request to the Checklist Item and the request will follow the item's frequency. You will also be able to view the status of your request and download the associated export right from the Checklist! Click here for more information on utilizing this feature.
Microsoft Teams Integration
An exciting new feature for FloQast is our Microsoft Teams Integration. You can now receive notifications from FloQast directly in Microsoft Teams, as well as request information from FloQast. For more information, here is a helpful guide on setting up this new integration!
Flux Analysis: Clone Report
We are thrilled to announce a new feature to our Flux Analysis Module: Clone Report. This will allow you to create a copy of any existing Flux Report with a new name, base entity, and report type if needed, just by clicking Clone Report. We hope this will allow you to create new Flux Reports more efficiently, particularly if creating similar reports to analyze multiple entities.
Close Analytics: All Entities Close Trends
The latest update to our Close Analytics module allows you to now view Close Trends at an All Entities level. The All Entities view aggregates all of your entities to calculate the historical close duration for each period in the selected time range. Additionally, you will be able to see Reoccurring Late Items for All Entities, allowing for a global view of any typical problem areas, so you can utilize that knowledge to make your close more efficient.
October 2021
Core App: Reconciling Items
The latest update to the Reconciliation section allows you to track Reconciling Items. Now you can complete your sign-offs even if there are known differences between your Supporting Document and your GL system using this feature.
September 2021
FloQast Ops
We are thrilled to announce the release of FloQast Ops! FloQast Ops is our new workflow manager that extends the power of FQ Close to connect accounting operations both upstream and downstream from the Close. This powerful new tool will give you better control and transparency into all of your accounting operations. One great new feature is the All Workflows Dashboard, where you can keep an eye on how your team is doing across all of your workflows. Please reach out to your Accounting Success Manager or support@floqast.com for more information.
AutoRec Amortization: Pro-Rated Amortization
We are excited to announce that in addition to the Daily and Straight-Line methods, Pro-Rated Amortization is now available in our AutoRec Amortization module for new Amortization accounts. When setting up a new Amortization Schedule, you will have the option to choose one of the three Amortization calculation methods. This choice will be by account, not by amortizing item. If you have an existing account you would like to switch to Pro-Rated Amortization, please contact your Accounting Success Manager or support@floqast.com for more information.
August 2021
Flux Analysis: Link Existing Flux Reports
A new update to our Flux Analysis module allows you to link different Flux Reports when uploading a grouping template. You will be able to view the reports a report is already linked with, and select other reports to link as well when applying your settings. Additionally, you will be able to see what reports a Flux Report is linked with in the Report Template section of the report settings. We hope this allows you to easily change grouping and assignments across reports!
Weekly Checklist Frequency
FloQast now has a Weekly Frequency for Checklist Items. With this, you can create Checklist tasks in FloQast for your weekly procedures, for everything from processing invoices to reconciling cash accounts. When creating a new Checklist Item or editing an old one, you will have the option to select "Weekly" in addition to the other Frequencies, and the item will automatically populate for each week in the month. Click here for more information on this exciting new feature!
June 2021
ReMind: Weekly Recurring Requests
We are excited to announce that FloQast ReMind can now support weekly recurring requests! This will allow you to automate your data requests with even more precision than ReMind already allowed. Now, when creating or editing a request, you will have the ability to select weekly as your frequency option. After selecting weekly, you will be able to select the specific day of the week to send the request on.
April 2021
AutoRec Amortization: Attach Invoices
A new update to our AutoRec Amortization module now allows you to link to your invoices for Prepaid Expenses. You can now add a link to where you store your invoice document to an Amortization item. After adding the link, you will see an icon on the Rollforward and Amortization pages that, when clicked, will take you directly to the invoice. This feature is also available if you click to edit existing items.
Remind: Dashboard and Details View
A new update to FloQast Remind introduces a Dashboard view that allows you to see the status of your Remind requests. It includes a notification center to view any updates to your active requests. Additionally, on the Dashboard, you can edit, pause or deactivate your requests, as well as export your results. By clicking on view details, you will be taken to our new Details View, where you can see detailed metrics about your Remind requests including response rate, percentage of messages opened, percentage of messages marked as spam, and more! To learn more, click the links below.
March 2021
Flux: New Workflows at the Group-Level
Groups and Sub-Groups have always existed in Flux, allowing teams to categorize GL accounts and perform a period-over-period analysis on the rolled-up totals. Now you can assign a preparer/reviewer, a deadline for these individuals, and even a unique materiality threshold at each Group or Sub-Group level, bringing even more collaboration and a sense of ownership to your Flux process. These group-level features can be used to complement your account-level assignments. They can also be used instead of account-level detail suits your leadership team's strategic needs. Get started by reading the links below!
Group-Level Materiality Thresholds
AutoRec: Clearing Account Split My Files for Matching
Now, there is no need to upload two separate files for clearing accounts in AutoRec Matching. If you list your debits and credits in a single file, FloQast can automatically split that file into two for you for our AutoRec Matching engine to process. You can turn this feature on or off in your settings. This feature is only available for clients uploading their own files for AutoRec Matching. 
Flux: Due Dates for Assignments
A new update for our Flux Analysis assignments now allows you to add due dates for preparers and reviewers on Flux assignments. These will look and function the same as due dates in all other sections of FloQast. Additionally. you can now filter your flux assignments to see what is due in the coming days or is currently late. 
February 2021
AutoRec Amortization: Daily Amortization
Our AutoRec Amortization module has been updated to allow for accounts amortized using a daily schedule, in addition to the straight-line method. For a new AutoRec Amortization account, you will have the option to select daily amortization, and your monthly amortization account will be tailored to the specific amount of days in that month. 
Flux: Advanced Searching and Filtering
Much like the Checklist and Reconciliation tabs within FloQast, the Flux module now offers a robust Filter section. Users can slice and dice the data within a particular Flux Report to quickly identify the items of interest. Check out the filtering options here.
Close Analytics: New Filters
We are excited to announce new ways to filter on our Close Analytics tab. Now, you can filter your all entities view of Close Analytics by Entities, Folders, and Tags! This feature will allow you to better understand the progress of your close from an All Entities level.
AutoRec Matching: Direct Link to Netsuite
Now, if you are using NetSuite pull to bring your data into FloQast for AutoRec Matching, you can quickly view the NetSuite transaction with one click! This will allow you to quickly and easily view details of a transaction in NetSuite if you need any more information. Look for the link when hovering over a reference 2 value in FloQast.
January 2021
Close Analytics: Click Directly to Late Items
A new update to our close analytics allows you to click on any late item metrics on data tables, and go directly to those items on a checklist or reconciliation page. We hope this will allow you to easily gain insight into specific late items in your close. 
Flux: "Parent" Departments in Groupings
A new feature in FloQast Flux analysis now allows you to view a Flux Report for a "parent" department in FloQast. Now if you have a department such as R&D, that has multiple groups contained within it, you can choose to have your Flux Report for that department include information from the groups within it. This option can be turned on or off, allowing you to view only information from the parent department if you wish.
December 2020
Non-Close Calendar Type
This is one of the most exciting new features within FloQast! Our new Non-Close Calendar will allow you to organize checklist items in the current period rather than in the close period. You can apply the Non-Close Calendar to an entity through the entity settings, and then you will need to re-save your checklist template to apply the new deadlines in FloQast. We hope you can use this feature to easily organize entities and checklists that do not run on the close calendar within FloQast. 
Flux: Assign Reviewers to Flux Explanations
A natural addition to your ability to assign preparers to your Flux explanations, now you can assign Reviewers too. And multiple of them, if you so choose. Learn about the multiple ways to add or edit your Flux Assignments here.
November 2020
Checklist & Recs: Bulk Reassignment
Whether you have new faces on the team or just need to switch up some responsibilities, updating the assignments for your Reconciliations and your Checklist just got a whole lot easier! Now you can reassign items from one person to another in bulk, across multiple entities at once, with just a few clicks. No templates required. Learn more here!
AutoRec: Upload Historical Data to Amortization
Wish you could see your prior periods of monthly amortization (you know, all those months that you did the hard way before AutoRec Amortization) in FloQast too? Now you can upload that history via a template for ongoing visibility. Learn more here!
