Enhanced Financial Management & Control
See also: What's New in Intacct 2020 Release 3
In accounts payable, you can now modify bills on the fly during approval and move to the next level in the bill-processing flow. You no longer need to reject, correct, and restart the entire approval process as was required in versions previous to Intacct 2020 Release 4.
In accounts receivable, a brand new User Interface (UI) has been introduced to the Receive Payment screen that delivers even more control over how you find invoices and apply payments. If you know the invoice number, simply type it into the grid and it will default the associated customer at the header. If you don’t know the invoice number, you can leverage powerful filter criteria to find what you need quickly. In addition, enhancements have been made to the ability to apply partial payments, payments by line item, and apply credits or discounts in bulk to multiple invoices.
Expanded Budgeting and Reporting
In addition, the Dimensions mapping table in Sage Intacct Budgeting and Planning features a new design and functional improvements. Now you can see when your dimensions from Intacct ERP have no mapping to dimensions in Budgeting and Planning. Plus, if your Intacct dimensions run several levels deep, you can now create your budget using the wizard in Budgeting and Planning and view the entire dimensions hierarchy from Intacct, as well as choose which dimensions you want to use to structure your budget.
Generate Invoices by Customer
With this new option, you can now consolidate recurring charges across multiple contracts, projects, or both into a single invoice for your customer. This enhancement streamlines invoice processing for customers with multiple contracts by reducing the number of invoices you manage each month.
Automated Prorated Billing for Partial Months
Say goodbye to manual adjustments for partial month billing because Sage Intacct can now automatically prorate amounts for partial periods. Simply define your subscription terms start and end date, enter your expected full month billing amount, and check a box. Intacct then handles all the calculations to ensure partial months (beginning or end) are prorated accurately based on days in the month. This feature currently supports monthly billing, but look for support for other billing frequencies in a future release.
A nice collection of usability enhancements makes Sage Intacct Contract Accounting even faster and easier to use. With new column filters in the Transaction history tab, you can now filter for all activity related to a certain posting type, classification, and more. In addition, you can now easily drill-down from the renewal tab on the contract page to view contract details. Lastly, the Contract ID and name now display in the Contract page title for quick and easy reference.
New Inventory Cycle Counting
You can set up cycle counts based on item or warehouse bin location. Intacct the automatically takes snapshots of the expected quantity on hand for later comparison with counted quantities and calculates suggested adjustments to reconcile any discrepancies between expected and counted quantities.
Watch this video to see how the new Inventory Cycle Counts functionality works.
Just a Taste of Sage Intacct 2020 Release 4
Be sure to contact your Sage Intacct Partner to request the full release notes or if you have any questions about the newest version.