Advanced Ownership Consolidations
Sage Intacct is proud to announce Advanced Ownership Consolidations, which is now fully generally available with 2023 R4. This comprehensive feature supports complex business structures including partial, tier and full ownership through the consolidation process, with full audit history of ownership changes.
Partial Ownership addresses a significant need within the market for a more flexible and comprehensive approach to financial consolidation across many industries, including financial services, healthcare, hospitality and general business. As organizations expand and diversify their portfolios, it becomes increasingly important to have a reliable method of consolidating financial data across multiple entities with varying ownership percentage changes automated and captured. In addition, Sage Intacct Advanced Ownership Consolidations supports global currency translation, complex non-controlling interest and legal structures, and it automates consolidation elimination roll up in a streamlined process.
Bank Transaction Assistant
Bank transaction assistant is your new best friend, it will assign customers to bank transactions, create the payment, and apply that payment to an open invoice or create an advance. The main value? Freeing up time to spend on more important tasks by removing steps in the AR process through automatically applying payments that come from bank transactions. Once a customer assignment is created, Bank Transaction Assistant will remember and assign that customer to future bank transactions after matches are processed. A new generation in bulk processing allows the user to select a payment application method and optionally create advances when an open invoice is not available. While in the Receive Payment process the user can complete multiple groups of transactions using different parameters until all the desired transactions are completed. And there is a preview of the payment application available before the process is finalized.
Reconciliation Match Sequence
In addition, users can now leverage the reconciliation matching sequence to see the relationship between bank and Sage Intacct transactions. Confidently review the results of bank and credit card reconciliation matches, knowing that only Sage Intacct can assign the sequence values. Should a reconciliation need to be reopened, no problem. The matching sequences are reverted to a draft/in-process status. Assign a unique sequence to one or multiple accounts. You can also identify when a sequence is part of an in-process or final reconciliation. Matching and unmatching transactions controls the assignment of a sequence value, and flexible sequence assignment allows a bank or credit card account to be updated with a new sequence as required.
Receive single AR Payment for multiple customers
Sage Intacct is also launching single payments for multiple customers in R4. This is useful when you receive a single payment, but need to apply the payment to invoices from different customers. For example, a school district can submit payment for invoices that belong to different schools within that district. Or an insurance company can submit a single payment for multiple patients at a facility. This offers users flexibility in receiving a payment for a single customer’s invoices, parent and child customer invoices, or multiple customers’ invoices. It also simplifies bank reconciliation for multi customer payment with a Bank statement.
Project Intelligence
Many companies extract timesheet data to Excel to calculate employee key performance indicators (KPIs) and manage projects in third-party systems. These practices often lack the timeliness and accuracy to quickly review project health.
Sage Intacct Project Intelligence provides insight into employee time and performance. This understanding of employee efficiency helps uncover project trends and drive smart business decisions. The following are some of the key insights that you’ll find in Project Intelligence:
- Detailed metrics for employees and groups show who is reaching their targets, who can do more, and who might be overallocated.
- Stats on revenue contribution, effective rate, and write-offs allow you to quantify employee performance with more than billable hours.
- Crucial metrics help project managers gauge the health of your projects.
- Evaluate the profitability of your service team through a detailed analysis of the projects, clients and employees driving revenue.
Sage Construction Management
Sage Construction Management takes us into the front office. It streamlines construction operations, enabling customers with capabilities/tools to win more business and execute projects more efficiently. Additionally, our customers can align operational & finance teams to collaborate and work together towards improved job profitability. Preconstruction enables you to manage leads from bids and estimating to awarded projects Project management capabilities connect field and office teams, anytime/anywhere, to efficiently execute projects to build on time and on budget. And Project & financial insights help you align operational and financial teams to improve job profitability. The solution is built for collaboration and mobility to align and enable collaboration across all stakeholders within and across company boundaries.
Construction Module Enhancements
Simplify your construction financial management with features that focus on increasing efficiency and maximizing profitability.
- Use compliance tracking to prevent paying vendors with outstanding lien waivers. With this release, you can now avoid paying Accounts Payable (AP) bills to non-compliant vendors with outstanding lien waivers.
- New retainage VAT or GST tax calculation options in AR and AP. If you have a Taxes subscription with Value-Added Tax (VAT) or Goods and Services Tax (GST) set up and configured for non-US taxes, you can now configure Accounts Receivable (AR) and Accounts Payable (AP) to determine when to tax retainage, either when you hold or release retainage.
Inventory Fulfillment
Fulfillment gives warehouse managers and warehouse workers the tools to track and ship sales orders in a timely fashion to keep customers happy. It also provides pick and pack lists, which make the job of the pickers and packers on the warehouse floor more efficient and less costly. And, as sales orders move through fulfillment, Sage Intacct reserves and allocates quantities so those quantities cannot be used elsewhere.
You can manage sales orders through the processes of pick, pack, ship, invoice, or any combination of those from a single page.
Ministry Intelligence
Ministry Intelligence delivers automated integration of key church management data and visibility into the KPIs and insights critical to strengthening congregation health. With automated integration and visual dashboards, you can monitor revenue patterns, identify trends and shifts and be proactive in planning and reach outs. The dashboards deliver actionable insights including:
- Giving metrics and trends
- Fund analysis
- Multicampus analysis
- Executive insights
1099 e-Filing powered by TaxBandits
This partnership with TaxBandits enables fully automated 1099 e-filing, saving finance teams from tedious, error-prone, and manual processes. It also helps ensure compliance with the latest tax laws, including the recently lowered thresholds for e-filing at 10 or more forms. This means all businesses who file 10 or more forms are required to e-file, and this partnership enables a simple and trusty way of confidently e-filing 1099s.
Early Adopters: PwC Control Insights for Sage Intacct
Sage Intacct provides a solid financial and technical base for building a control environment that can evolve as the business matures and broadens its operating model. PwC in partnership with Sage Intacct is creating a new offering, PwC Controls Insight for Sage Intacct. Control Insight provides a live dashboard view of the health of the customer’s financial control environment, through assessment against a series of key control indicators (KCIs), as well as a view of the maturity of the finance operating model in a prioritized report. Gain actionable insights to drive prioritization with this new partnership. Please contact your account manager if you are interested in being an Early Adopter.
Watch the release highlights video. You’ll find release notes here for all updates (both large and small), as well as selected videos from our product managers.
