Flux Analysis Flashcards
What’s editable in the Flux Report Settings?
What’s editable in the Flux Report Settings?
● Once a report has been created most things are editable to accommodate for growth or changes in the company.
Settings that can be edited after an initial creation of a report:
○ Report Name
○ Locations/Subsidiaries associated with the report
○ Threshold $ and/or %
○ Reporting Book
○ Comparison Period Order
○ Flux Completeness (On/Off)
○ Departments (# of Departments included in a report)
What settings are not available once a report has been created?
Comparison Type
■ If the Comparison Type needs to be changed, we recommend creating a New Report with the correct Comparison Type. It is fairly easy to leverage the same Grouping Template if they need to create a new comparison report. Reports can now be deleted.
Financial Type
■ Financial Type cannot be edited, as there would be a lot of other things that would need to be changed as well, including the Grouping Template. Therefore, this is not an editable field as creating a completely new report would be less effort.
Can I delete a report?
Yes, but not if it has been signed-off on by the Report Reviewer.
Will Flux Reports automatically refresh nightly?
No, but similar to how we do a nightly refresh in Reconciliations – that is something that will be in our product roadmap as well
Can Flux Reports display more than two comparison periods?
No, currently only two periods can be displayed at a time.
Can you choose specific books in Netsuite/Intacct for Flux Reports (i.e. does Flux work with multi-book)?
Yes, for Netsuite clients, if the base entity you select has multi-book on, then FQ will pull in those balances. For Intacct clients, you can select the Reporting Book ID in the Flux Settings page.
Can our auditors access the Flux tool in FloQast?
Currently no, but you can export the report and provide it to your auditors.
Can we limit the team’s access to the Flux tool?
Currently all users with an Admin, Manager or User roles can access the flux module. Access to specific flux reports is determined by the report’s base entity; Admin, Manager and Users can only see reports for the entities that they have access to. System Admin, Workflow, or Auditor role will not have access to FloQast Flux.
Can you assign explanations to people?
Yes! Via the Flux Grouping template in admin settings.
Can you create multiple explanations for one account?
Multiple people can leave explanations for a single line item in a flux report, but it will appear in one text box bubble. The best workaround is for users to include their initials and date after their comment to see the chain.
Can you leave an explanation at the subheader level?
Yes, by hovering over the explanation column you can select ‘Add Explanation’ at the grouped total level. The materiality threshold will be applied at the account level so you won’t see the checkmark under material in the subheader lines.
Can you disable Report Review Notifications?
Yes, the Report Reviewer can disable the notification email via the Personal Settings in FloQast (clicking their avatar) and enabling/disabling ‘Flux Report Reviewer Emails’.
How can I remove my inactive accounts?
Delete those rows from the template using the export function; however remember they will be pulled back in to the report under ungrouped accounts if completeness is turned on.
