FloQast vs NetSuite Accounting

Last Updated:

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

NetSuite Accounting Software Tool

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.
read more...
Netsuite Accounting assists financial leaders in designing and modifying operations by pairing bookkeeping with robust compliance management to increase business performance and close proficiency. Immediate access to information offers users full visibility to study all the nooks and crannies and expeditiously fix issues. This visibility enables users to draft thorough statements and disclosures that conform to ASC 606, GAAP, SOX and other compliance requirements.

Its key accessories include tax management, general ledger, accounts receivable and payable and cash management.
read more...
$1,920 Annually
Get a free price quote
Tailored to your specific needs
Undisclosed
Get a free price quote
Tailored to your specific needs
Small 
i
Medium 
i
Large 
i
Small 
i
Medium 
i
Large 
i
Windows
Mac
Linux
Android
Chromebook
Windows
Mac
Linux
Android
Chromebook
Cloud
On-Premise
Mobile
Cloud
On-Premise
Mobile

Product Assistance

Documentation
In Person
Live Online
Videos
Webinars
Documentation
In Person
Live Online
Videos
Webinars
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support
Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support

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. 
read more...
  • Find and Finish Products: Check recent activity to find the latest tasks users were working on. 
  • Log Important Information: Log and store crucial information from calls, emails, sales quotes and other forms of communication. 
  • Execute Financial Consolidations: Consolidate financials from numerous geographical regions and execute account roll-ups in real time. 
  • Smooth Integration with Inventory: Integrate Netsuite Accounting with Netsuite's Inventory management solution to receive real-time tracking information on incoming and outgoing products as well as update balance books and other financial reports. This integration will enable users to monitor and stay in the loop of their supplies. 
  • One-Click Approvals: Approve large quantities of sales orders in one click without approving them individually. 
read more...
  • 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 
read more...
  • Manageable Ledger: Add custom impact lines to transactions like invoices and vendor bills throughout single or numerous bookkeeping journals, reducing time in bank reconciliation, period closes and audit processes. 
  • Arrange Accounts Receivable: Perform accurate tax calculations on invoices and promptly post order transactions to general and accounts receivable ledgers for immediate tax processing and billing. 
  • Spot Account Peculiarities: Adjust dashboards, reports and KPIs for current views on customer aging, invoice analyses, repeatable invoices, deferred revenues and exception reports that catch account anomalies. 
  • Supervise Taxes: Work with the exact tax rate every time with the tax management accessory. It automatically applies the correct tax rate to purchases and is equipped with tax calculations for more than 50 countries and currencies. 
  • Insightful Cash Management: Receive immediate understandings of global transactions throughout numerous bank accounts and credit cards. Users may also review and predict cash requirements, conduct automatic bank reconciliations, swiftly deposit payments and safely develop accounting entries. 
  • Control Payments: Review and manage payment types to boost payment control with the payment management module. This module accepts several credit and debit card types and other forms of electronic payment. 
read more...

Product Ranking

#133

among all
Accounting Software

#5

among all
Accounting Software

Find out who the leaders are

User Sentiment Summary

Excellent User Sentiment 52 reviews
Good User Sentiment 2235 reviews
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.

78%
of users recommend this product

NetSuite Accounting has a 'good' User Satisfaction Rating of 78% when considering 2235 user reviews from 4 recognized software review sites.

n/a
4.9 (19)
n/a
3.9 (1127)
4.83 (52)
n/a
n/a
4.1 (715)
n/a
3.5 (374)

Awards

FloQast stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

we're gathering data

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.
Show more
Overall Performance: Of the users who discussed the performance of this solution, 58% said it was outstanding because it has automatic updates, simplifies accounting tasks and provides accurate data.
Customizable: Precisely 68% of users who addressed this program's customization said it is easy to configure to their business needs.
Accessories: Of the users who mentioned this application's accessories, 52% said they are effective, praising specifically the customizable dashboard, search engine that saves searches and customizable accounting reports.
Show more
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.
Show more
System Performance: Approximately 41% of the users who mentioned this program's overall performance said it was slow and experienced crashes.
Functionality: Of the users who discussed this solution's functionality, roughly 47% said it was lacking features including budget forecasting, fixed assets and support for .xlsx and .xls files.
Show more

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.

Show more

Netsuite Accounting is a thorough accounting ERP that superintends all bookkeeping tasks. Users are most fond of its performance with automatic updates, potent workflows and precise data collection as well as its string of features-including, tax management, general ledger, accounts payable and receivable, CRM, multicurrency and more-to boost productivity. It's also adjustable, so users may tailor it to meet their company needs. Although some users were disappointed with the system's sluggishness, occasional crashes and lack of budget estimating, fixed assets and support for .xlsx and .xls files, the majority find it an adequate bookkeeping software.

Show more

Screenshots

Top Alternatives in Accounting Software


Accounting Seed

Acumatica

BQE Core

Dynamics 365 Finance

FreeAgent

Freshbooks

Manager

Odoo Accounting

Oracle Financials Cloud

Patriot Accounting

QuickBooks Online

Sage 50cloud Accounting

Sage Intacct

SAP Business One

SAP S/4 HANA Finance

TallyPrime

Wave Accounting

Workday Financial Management

Xero

ZarMoney

Related Categories

WE DISTILL IT INTO REAL REQUIREMENTS, COMPARISON REPORTS, PRICE GUIDES and more...

Compare products
Comparison Report
Just drag this link to the bookmark bar.
?
Table settings