FloQast recently announced an exciting enhancement to the Flux Analysis process. By linking your Flux Reports directly with your Reconciliations, you can now bring your Flux Explanations into the core FloQast application and make them part of your mainstream Reconciliation process.
Additionally, the explanation field itself has received a tune-up! When a material fluctuation has occurred month-over-month, you may click the red checkmark beside a reconciliation to launch a slide-out window. This slide-out will include a text field along with the following information to help you best leave your explanation:
- Account Number and Description
- Balance as-of current period (MM/YYYY)
- Balance as-of last period (MM/YYYY)
- Change in $
- Change in %
- Indication of materiality (per your Flux Settings)
As a reminder, any explanations left directly on a reconciliation (from the Close The Books or Reconciliations tabs) will also appear on your Month-Over-Month Flux Report: