Home > Accounting Software > FloQast > FloQast vs Accounting Seed

FloQast vs Accounting Seed

Last Updated: November 18th, 2024

Our analysts compared FloQast vs Accounting Seed based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

FloQast is a comprehensive software solution designed to streamline and enhance the accounting processes for businesses. It is particularly well-suited for medium to large-sized companies looking for an efficient way to manage their accounting tasks, including closing books faster and more accurately. One of the key benefits of using FloQast is its ability to improve collaboration among accounting team members, thereby enhancing overall productivity. The software boasts popular features such as close management, reconciliation, and integration with existing ERP systems, which collectively help in automating and simplifying the accounting workflow. When compared to similar products in the market, users often highlight FloQast's user-friendly interface and robust support as distinguishing factors. Pricing considerations for FloQast typically involve a subscription model, where the cost can vary based on the size of the organization and the specific features required, ensuring that businesses only pay for what they need. Payment frequency is usually on a monthly or annual basis, providing flexibility to suit different budgeting requirements.

Accounting Seed streamlines financial processes for mid-sized to enterprise businesses, particularly those in professional services, non-profits, and project-based industries. Built on the Salesforce platform, it leverages CRM integration and robust customization options to cater to specific needs. Key benefits include automated workflows, multi-currency support, and real-time financial reporting. Popular features range from billing and revenue recognition to inventory management and project accounting. User reviews praise its intuitive interface, scalability, and reporting capabilities. Pricing follows a tiered subscription model based on user count and desired functionality. While considered a premium solution, its feature set and integration capabilities often outweigh the cost for businesses seeking a comprehensive financial management system.

Pros

Easy to use interface
Robust reporting features
Seamless Salesforce integration
Customizable dashboards
Strong customer support

Cons

Limited customization options
Occasional bugs or glitches
Steeper learning curve for some features
Can be slow at times
No mobile app

$1,920 Annually

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Tailored to your specific needs

$750 Monthly

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Tailored to your specific needs

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Product Insights

Speedy Accounting Process: Connect people, documents and reconciliations for a streamlined accounting process. Boost the most common accounting processes like expense management, billing and credit and close at an average of three days faster.
Easy Collaboration: Provide the tools to connect team members quickly and easily anywhere, anytime. Operate as a single, unified virtual team from anywhere.
Stay Audit Ready: Organize data to keep the business ready for smooth and efficient audits by documenting and time-stamping all the work processes.
Streamline Accounting Workflow: Streamline and automate common accounting workflow to save time, money and person-hours that would be otherwise spent on mundane tasks.
Easy Integration: Integrate with ERP systems and Excel workbooks to automate reconciliation ties-ups. Leverage traditional accounting tools.

Better SalesForce Integration: Integrate with SalesForce CRM and use the SalesForce Product Object. Use it as a standalone product if the system is hooked to the complete platform.
Improved Invoicing: Make use of multiple invoice formats with built-in approvals. Set up recurring bills for improved security and compliance and to minimize the possibility of errors.
User-friendly Reporting: Create user-friendly or fully formatted financial reports using SalesForce. Easily track the company’s performance regularly with custom reports.
Time Tracking and Expenses: Manage accounting with built-in time cards. Track and report on expenses using the app.
Better Accessibility: Access and conduct business from anywhere in the world with the mobile app.
Eliminate repetitive tasks: Automate repetitive tasks and personalize the system using point-and-click automation. Leverage the feature to personalize with codes if the automation doesn't work for certain use cases.

Security: Get SOC1 Type II certifications, which ensure review viability by a third-party auditor. Leverage a financial management software that utilizes SSL 256 AES encryption and leading authentication protocols.
Multi-Currency Support: Support all the major currencies, giving businesses the power to conduct transactions globally and seamlessly manage the month-end close across international boundaries
Zero Storage Fee: Ensure that sensitive data gets well secured in the system without charging an extra fee.
Implementation: Get implementation on the phone by a team of CPAs and accounting experts in only a few weeks, unlike other alternatives, which can take months.
GL Integration: Provide seamless integration with Cloud ERP that pulls out the GL balance and automatically matches it to the Excel spreadsheet, without any human intervention
Quick Implementation: Get it up and running in a few weeks. Eliminate costly, time-consuming implementations that come with associated risks.
Other Products:
- Close Management: Use Close to ensure that wrapping up the books is quick and easy. Save three days every month by organizing, automating and executing the close in the cloud.
- Account Reconciliation: Use Auto Rec Matching to match bank transactions to the general ledger in real time. Improve your account reconciliation without spending hours manipulating, color coding and copy-pasting data in Excel. Automate the accounting process and reduce review time and audit questions.
- Financial Reporting: Prepare the data for IPO day by documenting and assigning everything in the close process. Identify bottlenecks while the model documents and assigns respective work to team members.
- Flux: Automate report building and gain the flexibility to meet the business’s requirements. Deliver flux reports on time by periodically tracking sign-offs and communication.
- Analyze: Get rich insights to identify the problem areas and maximize productivity to enhance future closes. Promote a culture of accountability and improvement with historical financial data

Billing: Create an invoice, start a project or make a recurring billing plan without tedious integration. Customize recurring billing to business requirements. Configure and personalize the system for simple, smarter billing and payment management.
- Bookkeeping: Make sure that the business has relevant tax data and error-free and consistent bookkeeping with Avalara. Ensure seamless high-level security transactions without any fee structure with Stripe. Manage billing at the contract level by monitoring past, present and future activity. Make billing simpler with automatic subscription renewals.
Accounts Receivable: Bridge the gap between invoices and payment cycle for a productive cash flow. Automate collection notices and monitor customer activities, aging balances in real-time with configurable dashboards and reports.
- Single-View Visibility: Maintain visibility of the project lifecycle and manage customer communication with custom processes. Compile accounts receivable data from any date or time and gain real-time visibility. Get a single view of billing quotes and incoming sales orders. Eliminate the need for repetitive billing work and get paid faster.
Revenue Recognition: Free up the finance department’s time with a CRM-integrated customizable revenue management system. Enhance financial accuracy and make well-informed decisions by recognizing patterns, establishing connections and classifying financial data.
- Customizable Accounts Receivable: Customize accounts receivable for revenue recognition based on policies and procedures to ensure an efficient process. Streamline business workflow by automating revenue recognition. Minimize dependency on multiple IT resources with custom configuration. Record and edit contracts natively without the need of any additional integration software.
Recurring Payments: Eliminate repetitive manual calculation with usage-based billing and built-in tiered payments. Customize the solution according to the business model. Make single or batch billing records from single or multiple sales opportunities. Create invoices from sales orders at any stage of completion with a click. Use time cards or expense reports to create bills.
Paying Vendors: Customize the purchasing process and link a purchase order with a manufacturing or construction order as the business demands. Analyze stock level and purchase inventory without the hassle of integration points. Make transactions easier with the connectivity to over 14,500 banks and credit card companies.
General Ledger: Gain complete control of charts of accounts set up with the analytical and intuitive financial management software. Manage user configuration without coding or customization and automate back-office operations with ease.
Multi-Currency: Pay foreign vendors and receive payments in any currency. Keep track of the gain and losses based on fluctuations in the exchange rates with the standard pronouncements. Save time and money by automating conversions for transactions. Create compliant reports in multiple currencies. Minimize the possibility of errors with automated financial consolidation tools.
Multi-Company: Manage budget for multiple companies in a single database. Share sales quotes and opportunities, vendors, charts of accounts, projects and accounting periods between different entities. Get real-time insights by switching between companies and local account views. Boost visibility and control with flexible, multi-company reports.
Bank Reconciliation: Clear bank transactions and make quick reconciliations with minimal data entry using Bank Direct Connect. Ensure correct and up-to-date information by tracking changes with the audit trail function.
- Statement Management: Get statements from any bank and reconcile checking, savings and credit card accounts. Efficiently manage bank errors, keep an eye for frauds and maintain accurate cash flow.
Sales Order Management: Save time and money with a streamlined sales order process. Make a sales order from the inventory in the CRM. Reserve products for a particular customer’s orders by designating the items. Capture packaging and shipping details from a single interface.
- Purchase Orders: Generate purchase orders directly from sales. Monitor and manage warehouse and inventory directly into one integrated system. Build a customized solution with kitting, serialized and non-serialized inventory, historical inventory balance reporting, multi-warehouse and multi-location environments.
Project Accounting: Consolidate general ledger and project accounting into one system. Eliminate confusion and wasted time with an integrated general ledger and connected project system. Manage resources and gain rich insights from the financial reporting dashboards.
- Project Tracking: Keep track of the individual project and monitor overall business health. Analyze past projects and make the right project bid. Effectively track and manage the lifecycle of the project from beginning till the end.
Tax Accounting: Organize and store accounting data in one cloud-based platform. Ensure compliance, accuracy and efficiency with Avalara integration, providing 360-degree sales tax compliance control.
- Real-time Data: Get access to financial data in real-time and gain optimal flexibility for VAT reporting, tax calculation. Get an automatic sales tax calculator. Create VAT returns with Avalara VAT reporting and digitally transmit it to the tax authorities.
Data Security: Keep data safe with secure API, strong SalesForce IT infrastructure, two-factor authentication, user permissions, real-time event monitoring. Make sure your business is safe and the data is secure with a reliable, flexible solution.
Point and Click Configuration: Create translation for the configuration with the translation workbench. Update data fields with workflow rules and process builders.
Integration: Credit disbursement, collection tracking and customer interaction can be managed with SalesForce CRM integration, while Stripe integration helps with online payment collection.
Drag-and-Drop: Drag-and-drop editing allows the managed reports configuration allowing for a future data export to Excel. Track expenses, reports and budgets with a consolidated general ledger.

Product Ranking

#133

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#281

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Analyst Rating Summary

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User Sentiment Summary

97%

of users recommend this product

FloQast has a 'excellent' User Satisfaction Rating of 97% when considering 52 user reviews from 1 recognized software review sites.

84%

of users recommend this product

Accounting Seed has a 'great' User Satisfaction Rating of 84% when considering 337 user reviews from 4 recognized software review sites.

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Awards

Synopsis of User Ratings and Reviews

Streamlined Close Process: FloQast offers features to centralize and automate tasks, such as reconciliations and checklists, which can significantly reduce the time it takes to close the books each month.

Improved Visibility and Control: The platform provides real-time dashboards and reporting tools that give accounting teams better insights into the close process, allowing for proactive issue identification and resolution.

Enhanced Collaboration: FloQast facilitates communication and collaboration among team members by providing a centralized platform for task management, document sharing, and communication.

Reduced Risk of Errors: Automation and standardization of processes can help minimize the risk of human error, leading to more accurate financial reporting.

Streamlined Workflows: Automates tasks, reduces manual data entry.

Seamless Salesforce Integration: Unifies financial and customer data.

Real-time Insights: Provides instant visibility into key metrics.

Improved Reporting: Customizable dashboards and reports for better decision-making.

Scalability and Flexibility: Adapts to growing businesses and diverse needs.

Steep Learning Curve: The initial setup and configuration of FloQast can be complex, requiring significant time investment and training to understand its functionalities and workflows effectively.

Limited Customization: FloQast's features and workflows may not align perfectly with the specific needs and preferences of all accounting teams, potentially leading to inefficiencies or workarounds.

Integration Challenges: Integrating FloQast with existing accounting software or other business systems can be technically challenging and may require additional IT support or custom development.

Cost Considerations: FloQast's pricing structure may be a concern for smaller businesses or those with limited budgets, as the cost can vary depending on the number of users and features required.

Limited Customization Options: May not fully adapt to specific needs.

Occasional Bugs or Glitches: Can disrupt workflows and require support.

Steeper Learning Curve for Some Features: Complex functionalities might require training.

Can Be Slow at Times: Performance issues can impact user experience.

No Mobile App: Lacks on-the-go access and data management.

FloQast is a cloud-based accounting software specializing in cash flow management, bank reconciliation, and financial close processes. While some users praise its ease of use and time-saving features like automated reconciliation for various accounts, others express concerns about its price and limited features compared to competitors. For example, unlike Bill4Time, FloQast is a standalone accounting solution, meaning it may not integrate with as many other business tools. FloQast's strength lies in its focus on streamlining financial close processes with templatized checklists for tasks like requesting information from department heads and confirming payments. This makes it particularly well-suited for businesses that prioritize efficient financial close procedures. However, businesses seeking a more comprehensive accounting solution with extensive integrations might find FloQast lacking.

Accounting Seed users share a love-hate relationship with the software. For many, its Salesforce integration shines brightest, with "it truly ties into Salesforce seamlessly" and "no need for an API connection" being common praises. This unified data view across sales and finance wins favor in companies wanting clear customer-to-financial insights. However, some find its customization options "cluttered and confusing," particularly when compared to rivals like Xero or QuickBooks. Users lament "frustrating input screens" and a "steeper learning curve" for complex features. Reporting is another battleground. Some rave about "robust reporting features" that provide "real-time insights," while others criticize "a rework is receiving a rework" and "not integral to any accounting software." Compared to Intuit's FinancialEdge, Accounting Seed's reporting flexibility seems to fall short for some. Despite these frustrations, praise for the user interface and support persists. "Easy to use interface" and "strong customer support" are frequent positives, contrasting with complaints about clunky competitors like Sage. Efficiency gains are also highlighted, with users enjoying "reduced manual work" and "streamlined financial processes." Overall, Accounting Seed seems to be a mixed bag. Its Salesforce integration and user interface charm some, while its reporting and customization limitations disappoint others. For companies prioritizing user-friendliness and real-time financial insights, it's a contender. But for those needing highly customizable reporting or slick on-the-go access (no mobile app yet!), other options might be a better fit.

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FAQ

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