What's New in the Latest Release
Just In: Sage Intacct 2021 Release 4 now available!
Cash Management Enhancements
Automatically Download Transactions in the Background
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.
Faster and More Direct Reconciliation
Now you can create new 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
New and improved matching rules automatically match bank feed transactions that are lump sums to multiple transactions within Sage Intacct.
GL Posting Tab on Transactions
A new GL posting tab is available on credit card and charge payoff transactions that provides greater visibility and traceability into resulting AP and journal entry transactions.
Streamlined Electronic Vendor Payments
After payments are submitted, you can check to see where a payment is in the process using the ‘Payments’ screen in Intacct. Supported payment methods include automated clearing house (ACH) transfer, printed check, and virtual card.
Note: this feature is currently in the early adopter program
Reporting and Analysis
- Custom reports categories - find your custom reports and analysis faster by categorizing them by specific report types and audiences.
- Expanded pre-built reports and analytics - an expanded library of pre-built reports and analytics include new IVE visual boards that provide insight into projects and timesheets and new ICRW reports that provide insight into customer profitability, purchased items, sold items, and sales orders.
- Flexible date-based analysis - performing date-based analysis in ICRW and IVE is now easier than ever using new pre-built time measures, such as yesterday, last week, current or prior month, quarter, year, and more.
Enhanced GL Approval Process
In addition, you can now Delegate approvals to an authorized team member when you’re out of the office or unavailable, thus extending the delegation concept beyond purchasing to the general ledger. Intacct 2021 will now use these pre-configured delegation assignments instead of stacking up journal submissions waiting for approval as was the case previously.
Improvements in Contracts
Enhanced contracts usability
Configure your contract line layout to focus on your most important data 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
For companies with complex revenue requirements, Sage Intacct 2021 R1 delivers more control over how to define the fair value of a specific item without the need for custom applications or third-party systems.
Flexible Billing Frequency
Previously, all contract lines in a contract had to use the same billing frequency, which was set on the contract header. But in this newest Intacct release, you can now select different billing frequencies for different contract lines.
Other Notable Updates and Improvements
- Domestic Consolidations – new domestic consolidations provide a powerful tool for inter-company reporting where there’s only a single base currency required.
- Working Checklists – Checklists is a new feature that helps you manage and track internal processes within Sage Intacct. For example, you can use checklists to manage and track the close process and even break down the process into granular assignments. Then, email notifications keep people informed of their assignments and checklist owners get assignment progress updates.
- Project or Grant Invoice Supporting Documents - Automatically link source document attachments to project invoices and easily access them with a click.
- Construction – continued development and enhancement of functionality for construction companies (early adopter) including the ability to track production units in project estimates, convert order entry transaction lines based on price, and purchase approval for change order transactions.
- Inventory enhancements – new ability to track bins, lots or serial numbers using the FIFO costing method. Also, item cross-references can now associate your internal item numbers or SKU’s with those of your customers or suppliers.