Sage Intacct releases updates to its cloud ERP applications four times a year. The newest update of 2021 is being released on August 20, 2021 and it is chock full of new features and product enhancements. Here are some of the highlights of what you can look forward to!
Are you working on automating your bank reconciliation process? Intacct has improved the matching rules to give you more control over how bank transactions are matched with your Intacct transactions. You can group many Intacct transactions to match one bank transaction, or group many bank transactions to match to one Intacct transaction. You can also specify a range of posting dates for matching, enabling matching if a transaction is ‘within’ a specified date range, since sometimes a transaction is not posted to the bank on exactly the date that it is posted in Intacct. There are other additional operators in the filtering and matching conditions that allow for flexible text and amount fields and you can set an order for your matching rules to help you match transactions more accurately. All this to help speed up the bank reconciliation process and have less user intervention, and save time!
Calling all Canadian companies! Intacct has added support for GST, PST, HST and QST as standard tax solutions, and will automatically determine taxes in both Order Entry and Purchasing. In the other modules, you can choose the tax rate to apply to the line and Intacct will calculate those taxes for you.
Does your company transfer inventory stock from one warehouse to another? Intacct has extended the design of warehouse transfer to show in transit transfers. In the Warehouse transfers function, you can now select the transfer type of ‘In transit’ and enter an estimated transfer out date and an estimated transfer in date. After transferring out, the quantity on hand is decreased and the quantity in transit is increased. When the receiving warehouse records a transfer in, the quantity on hand in that warehouse is increased and the quantity in transit is reduced. You can always know exactly where your inventory is! Additionally, the Inventory Valuation report will correctly reflect the inventory in each warehouse, without including the in-transit stock.
Intacct already has one of the best report writers anywhere, and now they have added more great features to help write reports and read reports! A ‘normalize’ function has been added to show easily if variances are favorable or unfavorable. For example, a revenue higher in one month than the preceding month is favorable, but an expense which is higher in one period than the preceding period is unfavorable. When normalized is applied, Intacct uses the immediate account group normal balance type with logic to appropriately reflect it as a positive or negative condition. There is Budget-Actual normalization, as well as Period Variance, and Period difference normalization. Intacct has also added a column type called ‘Vertical divider’ to insert space in between columns on a report, making the report easier to read and review. And, a new Forecast – Full Period option gives you another way to build forecast reports.
Additional Dashboard functionality now gives you the ability to post a billboard style message to all your employees using the new Billboard component. You can also use the Custom Navigation component to open Sage Intacct menus directly from a dashboard, and the Attachments Container component allows you to include attachments on a dashboard as well.
Security enhancements include the ability to secure PDFs to prevent editing or alteration of any electronically printed document generated through Sage Intacct. Use Customization Services or Platform Services to make a secure PDF template. This template type allows the receiver to print the document, but editing, signing, copying, extracting or commenting are not allowed. 128-bit encryption is used.
And the list goes on…
- Configure AP to include or exclude information in vendor notification emails
- Unapply credits directly from posted payments in AR
- New, out of the box option for printing Canadian checks
- New materiality and dimensions for GL outlier detection have been added
- Create and view item cross references between Order Entry and Customers, and Purchasing and Vendors
- QuickStart library shows you the layout of a report layout before installing
- And many more! Click here for the full list.
Sage Intacct is working hard to fulfil their mission - your success!
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