Sage Intacct has rolled out several new features in their latest release, with a focus on efficiency and user-friendliness. Here’s a breakdown of the key updates:
AP Bill Automation: Save Time and Reduce Errors
AP Automation, now available as an add-on to Accounts Payable, simplifies your data entry process, saving you both time and money. With this feature, Sage Intacct automatically creates draft bills from documents you upload or email directly into the system. The bill details are pre-populated using data from the original document and vendor information.
All you need to do is review the drafted bills, make any necessary adjustments, and submit them for approval or posting. Sage Intacct will also alert you to potential issues, such as duplicate submissions or mismatches with vendor records, allowing you to correct them before posting.
You can also streamline your Purchasing workflow by letting Sage Intacct create draft transactions from incoming vendor invoices and match them to existing purchase transactions. This Early Adopter Program is now available.
Usage Insights: Unified Visibility Across Your Operations
The new Usage Insights feature provides a comprehensive, real-time view of your entire operation by consolidating information from multiple sources. This goes beyond basic reporting, offering deep insights into key areas like transaction volume, usage patterns, and access permissions. With Usage Insights, you can better understand how your systems are being used and make informed decisions to optimize performance.
Trace Original Transaction Documents for Better Workflow Management
Sage Intacct’s purchasing workflows offer flexibility with multiple entry and exit points. Now, you can easily trace the original transaction that initiated a workflow, leading to more accurate inventory reconciliation and a clearer audit trail.
Enhanced Bank Transaction File Imports
The Bank Transaction Assistant now supports additional file formats, including BAI2 and CAMT.053. This enhancement streamlines the process of uploading bank files, adding to the already supported CSV, QIF, XLS, XLSX, and OFX formats. This wider range of supported formats ensures compatibility with more financial institutions and simplifies your bank reconciliation process.
Track Order Entry Transactions with the Contract Dimension
For companies using Order Entry Revenue Management, Sage Intacct now allows you to use the contract dimension without needing a subscription to the Contracts application. This means you can categorize, track, and analyze Order Entry transactions more effectively, enhancing reporting visibility, data analysis, and forecasting accuracy.
Fiscal Year Rollover for Document Sequences
Sage Intacct now supports fiscal year rollover for document numbering sequences in General Ledger. If your company needs to number transactions by fiscal year, you can set this up within the Company application and assign it to your accounting sequences. The system will automatically update the fiscal year in the sequence, eliminating the need to create new sequences annually.
Note: Fiscal year rollover is not enabled by default and requires a support ticket to activate. Once enabled, it cannot be disabled, so ensure it is necessary for your legal requirements before proceeding.
Customizable Discounts When Receiving Payments
Adjusting discounts at the time of payment just got easier. With the new update, you can configure Accounts Receivable to allow on-the-fly discount adjustments when payments don’t match the terms you’ve set. This eliminates the need for creating additional debit or credit memo adjustments and streamlines the payment process.
Unapply Credits in Posted Payments
Enhance your workflow by unapplying credits from posted payments, especially when they were applied without an associated payment. This feature applies to all types of credits, including advances, vendor credits, and negative bills. Once unapplied, the credit becomes available to apply to other bills. Sage Intacct now displays these credit entries in posted payments with an “Unapply” link for easy management.
Improved Reconciliation Process
To make reconciliation more straightforward, the default filter on the Reconcile Bank Account and Reconcile Credit Card Account pages now shows all unmatched transactions by default. This allows you to view and manage all transactions in one place, simplifying the reconciliation process.
Void Payments Directly from the Posted Payments Page
Voiding payments is now more convenient with the ability to do so directly from the Posted Payments page, where you usually view completed payments. This eliminates the need to navigate through different registers or reports, saving you time and reducing the complexity of the process.
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