Your team may be booking journal entries to one or more user-defined books/adjustment books in Intacct in order to be ASC606-compliant. If you are doing this for your Deferred Revenue or similar accounts, FloQast offers the functionality to mirror these multi-book parameters within your Reconciliation Settings.
Intacct TB Parameters include ACCRUAL Reporting Book and ASC606 Adjustment/User-Defined Book:
FloQast Settings include ACCRUAL Reporting Book and ASC606 Adjustment/User-Defined Book:
These reconciliation settings can be configured on an account-by-account basis by an Admin or Manager on your FloQast team. The reconciliations settings are accessible here: Gear Icon > Manage Reconciliations tab > Select Entity > Select Folder > Select Reconciliation to revise
In order for Reporting Book ID and Adjustment Book ID to be visible in the settings, you will need to have the Multi-Book Reconciliation setting toggled on. This setting is enabled at the Entity level and it cannot be turned off. However, there is no harm in turning it on, as it will not require you to specify a set of books for each account. It simply allows you to adjust the settings for particular accounts that do require specification. The rest of your accounts (left blank) will default to ACCRUAL without any adjustment books.
Once this is enabled, the UI should update to include the settings pictured previously. In order for the Adjustment Books to appear as an option, you must first select a Reporting Book (such as ACCRUAL).
FloQast will always show 5 default Adjustment Books from Intacct. If you have added additional User-Defined Books, then they should appear as options as well.
If you notice that your User-Defined Books are not appearing as options, then your web-services user (the user FloQast inherits permissions from) may not have access to view your User-Defined Books. Here is how an Intacct admin can ensure that we do receive permission to use those books:
1. Click on Company > Admin > Web Services Users
2. Edit "floqastintegration" and ensure that it is user type "Business" and save.
3. You'll then land on the permissions page, where you can click on General Ledger permissions. We recommend clicking "read only" for all, and then please double check that User-Defined Books is set to both "list" and "view"
4. Hit Save and Save again, and you'll have successfully added this permission to the role! Your user-defined books should flow into FloQast, and the User-Defined Books should be an option to select as described earlier in this article.