Hi Appy,
first thing I would say is try to avoid using @BIOS to update at all costs. The worst that can happen, if it goes wrong, is a bricked board that you will have to RMA. There are occasions when you
have to use this utility but it is not the best route to take unless you really have to.
There is no reason that I know of that you shouldn't be able to use QFlash with your motherboard.
When you formatted your USB stick did you make sure it was done as FAT32? If you did it with NTFS then the USB stick will not be recognised.
What size USB Stick are you using? I have found that a drive of 4 GB or less is best.
Did you check through the FAQ here:
http://forum.giga-byte.co.uk/index.php/topic,2441.0.html where Dark Mantis and I have tried to explain the steps for using QFlash? If you haven't done so, take the time to check through it as it may throw up something that you have missed.