Sage Intacct’s second release of 2021 is here, with new feature enhancements allowing your team to become more efficient with this leading cloud solution.
“With an average of 50 new features or enhancements with every release, there are always a lot of exciting functionality improvements, and this release does not disappoint!” Gareth Bezant, Head of Sage Intacct Operations.
Gareth Bezant, Head of Sage Intacct Operations
Here are some of the highlights
Bank reconcilliation
Save time and effort by setting up rules and rule sets to automatically match transactions, reduce the need for manual matching, and eliminate awkward many-to-one matches.
Streamline processes
Enhancements to Checklists now include import and export, finer control over who can update checklists and assignments, and the ability to create dependencies between assignments as needed.
Enhanced journal approvals
GL Outlier Detection is now extended to all allocation transaction lines. Any lines outside the historical norm from a coding or amount perspective can be flagged as outliers.
View the name of the pending approver when a journal entry is submitted for approval.
If a submission has an attachment, such as supporting documentation, you can view and access it directly on the Approvals list.
Expanded contract billing functionality
Just as you already specify the ‘Ship-to contact’ at the contract line level, you can now specify the ‘Bill-to contact’. Save time and effort by easily importing billing price lists entries via a CSV file.
Clear the last allocation for Multiple Element Arrangements (MEA) allocations that include contract lines that use quantity-based revenue recognition. Clearing the allocation resets the applicable revenue schedules to the amounts that existed prior to that specific MEA allocation.
Enhanced stock/inventory control features
Save time and validate the GL posting for a transaction from within the transaction using the new Postings tab. Sage have added over 40 standard fields to the item record to enhance comprehensive item tracking, as well as visibility into item bin location information directly from the item detail screen.
Sage have made a few changes to make managing negative inventory more flexible for your business processes.
Three way purchasing matching*
Now you can match the purchase invoice, purchase order, and receipt to validate a transaction. If all matches, the invoice is created for payment.
*This feature is available to early adopters only, but will be coming to everyone soon.
Standard and financial reporting enhancements
New options to the Dimension Balances standard report enable a trial balance-style view, a budget summary view, or a comparison of budget and actual view without having to build a financial statement.
Include alternate books as a default in reporting to track alternate accounting treatments or to preserve before-and-after views for large-transactions like allocations. These alternate books could include GAAP, Tax, and user-defined books.
Interactive custom report writer
You can create a new report joining two or more existing reporting areas, such as joining transaction amounts for both AP purchase invoices and AR sales invoices, per location, into a new report.
Streamlined project invoicing
In Cash Management, you can more efficiently and accurately invoice customers for projects. You designate corporate credit card transactions as billable, associate them with a project or customer, and have those transactions flow automatically from Cash Management to Projects ready for invoicing.
Assign new project permissions to project managers so they can now edit or delete their own draft project invoices.
How can Solutions for Accounting & CRM help?
As the UK’s leading business management software solutions provider, we’re a Sage Intacct specialist. We can help you successfully migrate to this more advanced platform and tailor it to your business needs.
We offer a wide range of Sage Intacct software options and expert advice to ensure you find the right solution for your business model.
Our expert team consists of qualified accountants, product-accredited staff and talented developers, which means we can develop innovative add-ons and connectors to help you get more from your Sage Intacct solution, use it to its full capabilities and maximise your return on investment.
So, if you’re considering migrating to Sage Intacct and want to be sure you’re making the right decision, get in touch today to see how we can help.
We also offer training on Sage 200, so if you already use Sage 200 and are looking to better use it’s features, be sure to contact us today.
