WHAT'S NEW IN THE LATEST RELEASE
FEBRUARY 2022 UPDATE - Intacct 2024 Release 1 Now Available!
AP Automation and Electronic Payments
But with the new AP Bill Automation (Early Adopter program), you simply upload your bills and let Sage Intacct automatically create a draft bill from the data read and captured from the document. Then, using Artificial Intelligence, Sage Intacct matches the bill to the correct vendor record and suggests GL accounts and dimensions based on your bill history. Each automatically created draft includes the original bill as an attachment, for easy reference.
You can then review and adjust the bills before submitting them for approval. It’s almost entirely hands-free without the hassle or potential errors of manually entering bills into the system. So rather than spending most of your time entering data and processing, you can focus more on accuracy and handling exceptions uncovered by the software.
The new Vendor Payments functionlity streamlines your payment process from bill to reconciliation. The entire process takes place within Sage Intacct with full visibility at every step. No jumping between applications for payment status or to run reports. And reconciliations are easier with auto-matched payment transactions right within Intacct. Get more details.
General Ledger Enhancements
When Outlier Assistant is enabled, entries that are flagged as outliers are now sent back to the submitter instead of moving to the approver for review. This allows the submitter to verify that the entry is correct … or change it before the approver receives it. This can significantly reduce the workload for subsequent approvers. The Outlier Assistant also ensures that submitters know when an entry has been flagged as an outlier.
Sage Intacct 2022 R1 also adds more flexibility to reclassify posted Journal Entries that have already gone through an approval process. The reclassify feature allows you to add missing information, fix coding errors, fix allocations, add comments, and more. You can reclassify as long as the journal entry is in an open period, the totals remain unchanged, and the changes do not substantially affect the entry. And rest assured that all changes are retained in history with a full audit trail.
Forecasting Renewal Revenue
When a contract line is set up to renew, Intacct creates a renewal forecast schedule for up to 60 months from the current date. The initial renewal forecast takes into account the renewal template's renewal period and pricing options, any custom renewal amounts on the contract line, and future-dated billing price list changes. This renewal forecast schedule data is then accessible via reports.
Intacct Construction Updates
Change management enhancements include the ability create PDFs of your project change orders, and then print or email them to your internal or external contacts. In addition, Sage Intacct has improved muti-currency support for change orders in purchasing and order management for Intacct customers with international requirements.
For improved conversion workflow tracking, Sage Intacct 2022 adds primary document tracking for purchasing transactions. Simply configure purchasing transaction definitions to indicate which documents are primary and then Intacct will maintain a link to any transactions that happen downstream from that primary document. Now, tracking your invoices, bills, and receivers back to their original source is easier than ever.
Better Inventory Visibility
The Sales orders tab displays details about the open sales orders for the item, including the original quantity ordered and the quantity on hold.
The Purchase orders tab displays details about the open purchase orders for the item, including the original quantity ordered and the quantity on order.
The In transit tab displays details about the in-transit warehouse transfers that are in process, including the quantity that's currently being moved from the source warehouse to the destination warehouse.
Enhanced Lists Screen
In addition, you can now sort columns, move or resize a column, or even freeze a column in place to display information the way you like it. Plus, you can easily add columns that aren't currently displayed and even drag and rearrange them to your desired location on the list.
Lastly, you can apply fast and simple filtering from any column or use more advanced filtering that works across columns. You can even save your filter on into a custom view for repeated use.
Sage Intacct 2022 R1 Release Date:
February 18, 2022
Click below to get in touch with a Sage Intacct Partner to request a copy of the detailed release notes or if you need help upgrading to the latest version of Sage Intacct.