FloQast
Streamline financial closes with AI, real-time dashboards, and ERP integration.. [Contact for Pricing]
Last verified:
What is FloQast?
FloQast is the first accounting transformation platform powered by AI agents, designed to unify accounting teams across a single platform. It provides close management software for corporate accounting departments, helping teams close the books faster and more accurately. The platform automates common accounting workflows including month-end close, account reconciliations, financial reporting, and compliance management, making it ideal for accounting departments, CPA firms, and finance teams at growing companies.
Key features include FloQast Close for checklist-based close management with task tracking and deadline automation, FloQast AutoRec which uses AI to automatically reconcile accounts and bank transactions, and FloQast Variance Analysis for automated flux analysis that flags material balance fluctuations. The platform also offers Compliance Management for SOX and internal controls, ERP integrations with NetSuite and Sage Intacct, automated sign-offs, fixed assets and amortization tracking, and real-time subledger integration. FloQast achieved ISO 42001 certification for ethical and auditable AI development.
FloQast is built by CPAs for accountants, requiring no heavy IT lift or lengthy implementation. It serves over 3,500 global companies including SoundCloud, Gong, Zoom, GrubHub, Yelp, and the Los Angeles Lakers. The platform delivers measurable results including 38% reduction in reconciliation time, 20% reduction in audit discrepancies, 39% increase in close data accuracy, and an average of 27 hours saved per month.
FloQast pricing
Pricing model: Freemium
FloQast uses custom quotation-based pricing with no free tier or free trial available. Pricing starts at $999 per month for the Business Starter Bundle, with higher tiers available for enterprise needs. The cost is per user, which can become expensive as organizations grow. Multiple platform tiers exist including FloQast Close Essentials, FloQast Basic Platform, FloQast Premier Platform, FloQast Primary Platform, and FloQast Pro Platform. Contact sales for a custom quote based on team size and required features.
FloQast pros
- 38% reduction in reconciliation time with automated matching
- 27 hours saved per month on average for accounting teams
- 20% reduction in audit discrepancies found by auditors
- 39% increase in accuracy of close data
- 23% reduction in time for the audit process
- 20% reduction in monthly time to close the books
- AI-powered AutoRec matches transactions automatically without rule creation
- ISO 42001 certified for ethical and auditable AI development
- Native integrations with Sage Intacct and Oracle NetSuite
- Automated sign-offs when subledger balances tie within thresholds
- Real-time ERP sync keeps GL balances up to date
- Built by CPAs who understand accountant workflows
- Quick deployment without heavy IT lift or lengthy implementation
- Always audit-ready with real-time documentation and version histories
- Centralized workspace eliminates scattered spreadsheets and email threads
- Flux analysis automatically drafts variance explanations with AI
- Slack alerts keep team notified of task updates and deadlines
- Fixed assets and amortizable assets automation included
FloQast cons
- No free tier or free plan available
- No free trial offered to test before purchase
- High cost starting at $999 per month for Business Starter Bundle
- Pricing is per user which becomes expensive as teams grow
- Hard setup difficulty requiring significant technical expertise
- Professional implementation support strongly recommended
- Account reconciliation dashboard can become overwhelming with many accounts
- Not suitable for small businesses or solo practitioners due to cost
- Daily occurrence tasks not available as a feature
- Cannot archive flux analysis without losing history
Frequently asked questions about FloQast
What outcomes can finance teams expect with FloQast?
Finance teams can expect a 38% reduction in reconciliation time due to automated matching and clear task ownership. Teams save an average of 27 hours per month using FloQast. Audit prep time decreases by 23% since all evidence, approvals, and logs are in one place. Close cycle productivity improves through checklists, reminders, and status views. Visibility into accounts improves, allowing leaders to identify and address bottlenecks during the close rather than waiting until month-end.
How does FloQast improve monthly close discipline?
Standardized checklists lay out the sequence, owners, and deadlines for every recurring task. Automated reminders ensure everyone knows what is expected and when to deliver. Shared templates ensure all parties work from the same source information in real-time, eliminating delays from email-based communication. The shared workspace shows task status, late items, and blockers, making review meetings shorter and more impactful. ERP integration ensures all balances are current with real-time updates.
Where does automation remove manual work in FloQast?
Automated reconciliations pull GL balances and flag variances early, saving time and increasing accuracy. AutoRec automates reconciliations using matching rules to reduce repetitive tie-outs across accounts from spreadsheets. Variance and flux analysis reveal unusual account movements, triggering quicker investigations. Compliance automation tracks control steps, approvals, and exceptions as work happens. Entity consolidation support removes offline eliminations and manual roll-ups.
How does FloQast support audit readiness without adding drag?
FloQast updates documentation in real-time and records version histories for each task and reconciliation, keeping data always current and audit-ready. Workflow logs record actions taken, attributing them to the person and exact timestamp. Auditors appreciate faster and cleaner walkthroughs. Evidence accompanies every control step, resulting in major reduction in audit sampling back-and-forth. Fewer audit discrepancies are reported after moving to structured, in-system workflows.
What does collaboration look like in the close with FloQast?
Role-based ownership ensures preparers and reviewers have clear due dates for tasks. Teams work in shared templates, aligning and standardizing formats across entities and business units. Dashboards provide a bird's eye view of financial status and blockers, enabling leaders to track and reassign work during bottlenecks or seasonal peaks. Comments and notes are placed in context so all questions and responses are visible to everyone, eliminating long separate threads.
Which systems does FloQast connect to first?
Sage Intacct is usually recommended as the first native integration with FloQast, automatically introducing GL balances and reports into reconciliations. Oracle NetSuite is another primary ERP integration. Automation enhances integration with leading ERPs by automatically syncing data without manually exporting spreadsheets. Optional add-on modules are available for specific requirements like flux analysis and compliance, which scale alongside business growth.
How does FloQast AutoRec work?
FloQast AutoRec uses artificial intelligence to expedite finding which transactions cleared, saving teams hours or days each month. It automatically reconciles transactions within minutes after uploading any two files. The proprietary AI algorithms identify reconciled transactions based on amount, date, and just two reference fields, handling one-to-one, one-to-many, and many-to-many matches without needing to create rules. It finds how transactions reconcile automatically even when they are not 100% identical.
What is FloQast Variance Analysis?
FloQast Variance Analysis integrates with ERP systems to automatically pull up-to-date account balance and transaction-level details, calculate dollar and percentage changes, and loop in the right people for review when differences fall outside preconfigured material thresholds. AI helps detect variance drivers and drafts rich commentary for review and signoff. Users can compare final account balances to budgetary amounts, segment reports by vendor/customer/company, and view trailing 12-month figures for month-over-month reports.
What compliance frameworks does FloQast support?
FloQast Compliance Management supports a variety of compliance programs including SOX, GDPR, ISO, and SOC 2. The solution offers custom fields enabling tailored solutions for multi-framework compliance programs, leading to faster ROI and cost savings. It delivers strong business integrated controls to support SOX regulatory requirements and has expanded to support broader Risk Management frameworks for global organizations. Custom views enable tailored compliance program management.
Is FloQast suitable for my accounting team?
FloQast is ideal for accounting departments, CPA firms, and finance teams at growing companies that want to close books faster, collaborate smarter, and stay always audit-ready. It is particularly valuable for teams in fast-moving industries where financial controls, approvals, and audit timelines matter. Over 3,500 global companies trust FloQast including SoundCloud, Gong, Zoom, and GrubHub. The platform is built by CPAs who have done the work themselves, so it looks and feels like an accountant would expect without heavy IT lifts.