What is FloQast?
FloQast is an AI-powered accounting transformation platform built by accountants, for accountants. It’s designed to simplify and speed up the financial close process—so your team spends less time on repetitive tasks and more time on strategic work. Whether you're reconciling accounts, preparing journal entries, or gathering audit evidence, FloQast automates the tedious parts while keeping everything audit-ready.
With features like AI-driven reconciliations, automated variance explanations, and smart checklists, FloQast helps accounting teams close faster, reduce errors, and cut audit costs. Trusted by over 3,500 companies worldwide, it integrates seamlessly with major ERPs like NetSuite, Sage Intacct, and SAP, making it a practical upgrade—not a tech overhaul.
What are the features of FloQast?
- Automated Reconciliations: AI matches thousands of transactions in minutes, slashing reconciliation time by up to 38%.
- AI Transaction Matching: Automatically pairs related entries across systems with high accuracy, reducing manual review.
- Journal Entry Automation: Streamlines creation, approval, and posting of journal entries within a controlled workflow.
- AI Variance Analysis: Instantly detects unusual fluctuations and auto-generates clear, audit-ready explanations.
- Automated Evidence Collection: Gathers and organizes compliance documentation automatically for smoother audits.
- Custom AI Checklists: Generates tailored close checklists based on your industry, company size, and accounting stage.
- Connected Compliance: Proactively manages risk and ensures adherence to frameworks like SOX with minimal effort.
- Integrated Record-to-Report: Unifies data sources to accelerate financial reporting and improve consolidation accuracy.
What are the use cases of FloQast?
- A global controller uses FloQast to standardize month-end close processes across 12 international subsidiaries.
- An internal audit team reduces audit prep time by 23% using automated evidence collection and real-time status tracking.
- A mid-sized software company cuts monthly close time by 20% by automating reconciliations and journal entries.
- Accountants stop writing manual flux explanations—AI scans data and drafts them automatically.
- Finance teams collaborate in one platform, replacing scattered spreadsheets and email chains with centralized workflows.
- Compliance managers streamline SOX testing with AI-assisted documentation and risk monitoring.
- Outsourced advisory firms deliver higher-value services by leveraging FloQast’s audit-ready outputs for clients.
How to use FloQast?
- Connect your ERP (like NetSuite or Sage Intacct) through FloQast’s pre-built integrations.
- Let FloQast AI generate a customized close checklist based on your business profile.
- Upload transaction files or sync data—AI will auto-match and flag exceptions for review.
- Use the AI assistant to draft variance explanations or follow-up emails with one click.
- Assign tasks, track progress in real time, and maintain full audit trails within the platform.
- Run compliance reports or export evidence bundles directly for auditors or regulators.
