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Sage Intacct Release Highlights 2021 R1

  • 5 min read
Sage Intacct Release Highlights 2021 R1

Electronic payments (Early Adopter)

Sage Intacct is excited to introduce a new streamlined electronic payments service for paying your vendors in the US. Partnered with CSI, a trusted payments platform, to deliver a superior payments experience that is seamlessly integrated into the Intacct Accounts Payable workflow. Supported payment methods include automated clearinghouse (ACH) transfer, printed check, and virtual card. If you’re interested in being an early adopter, contact your account manager.

This release includes more enhancements to the new Receive Payments feature. Now, add attachments to payment receipts, filter for posted payments faster, filter for specific invoices with column filters, filter set inline item details, sort invoices and invoice line items, and use additional dimensions for overpayment information.

Increased automation and expanded actions directly on bank feed transactions

  • Bank feeds now download transactions every four hours in the background. You save time by eliminating the need to manually initiate and wait for transactions to download as part of your reconciliation process.
  • Create journal entries, manual payments, or other receipts directly from the bank transactions list page. Keep up with managing bank feed transactions on a continuous basis without having to go to the reconciliation page.
  • Enhanced matching rules – to automatically match bank feed transactions that are lump sums to multiple transactions within Intacct.
  • GL Posting tab on transactions -The new GL posting tab is available on credit card and charge payoff transactions. It provides greater visibility and traceability into resulting AP and journal entry transactions.

Reduce GL approval bottlenecks with group approval and approval delegation

  • Multiple and substitute approvals – Set up shared approval responsibilities by assigning user groups as approvers. Any member of the assigned user group can then approve the transaction to move the approval process forward.
  • Approval delegation – Delegate approvals to an authorized team member when you’re out of the office or unavailable.

New Domestic Consolidations

Domestic Consolidation is a new subscription for customers who need to consolidate and streamline high-volume, inter-entity reporting across a single base currency.

Projects/NFP grants supporting documentation

Save time by putting an end to manual organization of invoice documents. Automatically link source document attachments to project invoices and easily access them with a click. You can choose to include source documentation in email invoices to reduce questions or discrepancies and to speed up the payments process.

Gain more control over contract and billing with customizable functionality

  • Enhanced contracts usability – Configure your contract line layout to focus on the data your company needs. And, with the new MEA tab, get visibility into the MEA details directly from the Contract transaction page.
  • Enhanced Contracts billing – Use line-level recurring billing schedules to reduce implementation time and ongoing complexity for subscriptions with different recurring billing schedules. And, with partial period billing, get the flexibility to partially bill based on your company’s billing schedule.
  • Multi-element arrangement (MEA) fair value price -Get more precise MEA calculations for fair value price. For organizations with complex revenue requirements, gain more control over how to define the fair value of a specific item without the need for custom applications or third-party systems.

Additional costing method flexibility and streamline orders/invoicing

  • Track bins, lots, or serial numbers with FIFO (First In, First Out) – Gain the flexibility to track bins, lots, or serial numbers using the FIFO costing method. Now, you can track serial numbers, lots, or bins using the costing method that best fits your needs.
  • Item cross-reference – Get faster payments from customers and ease communication with customers and suppliers. Item cross-references can now associate your internal item numbers or SKU’s with those of your customers or suppliers if they are different.

Construction (Early Adopter): Tighten project management control

  •  Production units in project estimates – Ensure project costs and units are in line with estimates. Enter production unit estimates with your project estimate, which reduces steps as well as enabling greater insight into production estimate changes. Production estimates are also visible on the task, summarized by workflow type.
  • Price-based lump sum based on dollar amount – Sales orders and invoices now have more options to better fit your business needs. Enter and convert documents based on quantity or specific dollar amount in Order Entry, further enhancing flexibility.

Working checklists

Use checklists to effectively manage and track your internal processes. For example, you can use checklists to manage and track the close process. And, you can break down the process into granular assignments. Email notifications keep people informed of their new assignments and checklist owners informed of assignment progress updates. Working checklists help drive process consistency and improve process outcomes.

Financial reporting enhancements that you’ve been requesting, such as:

  • Report distribution – Easily set up a scheduled report to execute for each department or location and distribute to the associated department or location manager.
  • Column date calculation – You now have improved visibility into how as-of- date parameters are used to calculate the dates for generating the report output.
  • Filter parameter viewing – Gain visibility into how a report was filtered or narrowed with the inclusion of filter parameters in the footer of the report.

Custom reports and analytics enhancements

Custom reports and analysis (CRW), Interactive Custom Report Writer (ICRW), and Interactive Visual Explorer enhancements (IVE)

  • Custom reports categories – Find your custom reports and analysis faster by categorizing them by specific report types and audiences.
  • Expanded prebuilt reports and analytics – New IVE visual boards provide insight into projects and timesheets. New ICRW reports provide insight into customer profitability, purchased items, sold items, and sales orders. Prebuilt reports and analytics shorten time to value. The reports can be used immediately out-of-the-box or can be copied and used to jump start creating your own custom reports and analysis to meet your specific needs.
  • Flexible date-based analysis – Analyzing your data by dates is now easier than ever. Perform flexible date-based analysis in ICRW and IVE using new prebuilt time measures, such as yesterday, last week, current or prior month, quarter, year, and more.

In addition, you can review all changes or take a deeper dive to view release notes by category.