Sage Intacct 2024 R4 was released November 8, 2024. Let’s take a quick look at some key new features, many of which leverage machine learning and AI to help your business become even more efficient and profitable.
Introducing Sage Copilot
Now available in Sage Intacct for early adopters, Sage Copilot is an AI-powered productivity assistant that can automate tasks, tackle your to-do list, and recommend operational improvements as you work. Sage Intacct 2024 R4 early adopters will get to test drive Sage Copilot in the areas of budgeting and search.
Copilot Variance Analysis compares budgeted amounts with actuals as well as current versus prior period actuals, automatically alerting Controllers and CFOs to potential accounting errors and significant variances. The real-time analysis and alerts can reduce delays and time spent printing, reviewing and investigating reports so you can make quicker, more informed decisions.
Copilot Variance Analysis compares budgeted amounts with actuals as well as current versus prior period actuals, automatically alerting Controllers and CFOs to potential accounting errors and significant variances. The real-time analysis and alerts can reduce delays and time spent printing, reviewing and investigating reports so you can make quicker, more informed decisions.
A new semantic search engine powered by Sage Copilot is designed to revolutionize the way you access the help system and find answers within Sage Intacct. With natural language understanding, Copilot comprehends the nuances of Sage Intacct terminology and can interpret complex queries.
Plus, with its “intelligent suggestions” feature, you’ll also see related topics and articles based on the search you’ve performed so you can learn about related functions you may not have considered.
Plus, with its “intelligent suggestions” feature, you’ll also see related topics and articles based on the search you’ve performed so you can learn about related functions you may not have considered.
New Financial Management Features
Now let’s take a look at some new financial management features that are introduced with Sage Intacct 2024 R4.
New Customer & Vendor Reconciliation Reports
Allows you to automatically match payments with corresponding bills, invoices, and adjustments, significantly reducing manual effort. With flexible filters for matched, unmatched, and partially matched transactions, you can quickly identify discrepancies.
On the customer side, you get an at-a-glance view of not only how much a customer owes, but also how payments and credits were matched to invoices. Similarly with vendors, you can see how much you owe as well as how credits and payments were matched to bills.
Newly Enhanced Accounts Receivable Statements
Remove the need for you to perform manual calculations by adding a running balance to your custom statement templates. Plus, currency symbols now display alongside amounts by default, adding clarity to foreign-currency statements.
New Customer & Vendor Reconciliation Reports
Allows you to automatically match payments with corresponding bills, invoices, and adjustments, significantly reducing manual effort. With flexible filters for matched, unmatched, and partially matched transactions, you can quickly identify discrepancies.
On the customer side, you get an at-a-glance view of not only how much a customer owes, but also how payments and credits were matched to invoices. Similarly with vendors, you can see how much you owe as well as how credits and payments were matched to bills.
Newly Enhanced Accounts Receivable Statements
Remove the need for you to perform manual calculations by adding a running balance to your custom statement templates. Plus, currency symbols now display alongside amounts by default, adding clarity to foreign-currency statements.
Tax and 1099 Updates
With year end just around the corner, Sage Intacct has you covered with all new rules and processing requirements accounted for on the back end. And since the IRS now requires that all organizations with over 10 forms must file electronically, e-filing powered by TaxBandits does all the work to keep you compliant with minimal effort. You can simply click a button and have your 1099 data securely and accurately transmitted electronically.
In addition, Sage Intacct 2024 R4 delivers enhanced tax detail functions to give you more flexibility when selecting relevant transactions for tax submissions. For example, in Canada, you can now better manage reporting for both provincial and federal taxes. Plus, Sage Intacct extends this control to tax schedules, helping you prevent unnecessary tax coding in purchase and order transactions.
In addition, Sage Intacct 2024 R4 delivers enhanced tax detail functions to give you more flexibility when selecting relevant transactions for tax submissions. For example, in Canada, you can now better manage reporting for both provincial and federal taxes. Plus, Sage Intacct extends this control to tax schedules, helping you prevent unnecessary tax coding in purchase and order transactions.
Industry-Specific Enhancements
For customers using Sage Intacct to simplify tasks that are unique to specific industries, the 2024 R4 release provides a nice range of new or enhanced features. Here’s a quick look at a few of them.
Contract Management
For those using Sage Intacct to manage contracts, a highly-requested feature is now available that automates service period start and end dates. It streamlines how service period data flows into the invoicing process, reducing manual input and saving valuable time … including automated default values and seamless integration for usage records.
Project Retainage
Another exciting new feature is retainage for projects and grants that enables you to more easily manage expected retainage on sales orders and purchase orders. As invoices are created, retainage amounts are automatically calculated for the invoice (which can be overridden before posting). Upon posting, you have full visibility into resulting AR, AP, and GL posting details. As commitments are satisfied, you can easily release retainage at the appropriate time.
Work in Progress Management
Enhanced WIP management in Sage Intacct Construction enables you to sort, group, and display projects using new attributes like Project Manager, Project Type, Status, Location, Department, Class, and Customer. These additional options make it easier to tailor your project views to fit your needs, ensuring better oversight and more efficient management.
Employee Expense Automation
Although not industry-specific, the newer Employee Expense Automation functionality is now generally available. Now, every Intacct customer can easily submit receipts via email from any device, directly integrating them into Sage Intacct and eliminating the hassle of manual data entry. With the power of AI and machine learning, fields are automatically pre-populated on your expense reports to save time and automate workflow.
Contract Management
For those using Sage Intacct to manage contracts, a highly-requested feature is now available that automates service period start and end dates. It streamlines how service period data flows into the invoicing process, reducing manual input and saving valuable time … including automated default values and seamless integration for usage records.
Project Retainage
Another exciting new feature is retainage for projects and grants that enables you to more easily manage expected retainage on sales orders and purchase orders. As invoices are created, retainage amounts are automatically calculated for the invoice (which can be overridden before posting). Upon posting, you have full visibility into resulting AR, AP, and GL posting details. As commitments are satisfied, you can easily release retainage at the appropriate time.
Work in Progress Management
Enhanced WIP management in Sage Intacct Construction enables you to sort, group, and display projects using new attributes like Project Manager, Project Type, Status, Location, Department, Class, and Customer. These additional options make it easier to tailor your project views to fit your needs, ensuring better oversight and more efficient management.
Employee Expense Automation
Although not industry-specific, the newer Employee Expense Automation functionality is now generally available. Now, every Intacct customer can easily submit receipts via email from any device, directly integrating them into Sage Intacct and eliminating the hassle of manual data entry. With the power of AI and machine learning, fields are automatically pre-populated on your expense reports to save time and automate workflow.
Other Notable Enhancements
Here’s a collection of new features or enhancements in other areas of Sage Intacct that are noteworthy:
- More customers can turn on the Lists beta interface to personalize your list views, leverage advanced filters, manage list and record details side-by-side, and much more.
- In Sage Fixed Assets, you can now allocate depreciation expenses automatically, making it easier to distribute costs across different parts of your organization.
- Construction billing enhancements now display itemized build expenses with links back to the source documents for easier review.
- Sage Intacct Inventory Automation now integrates with Fulfillment, so you can have a true multi-step order fulfillment process with barcode scanning.
- New Order Entry and Purchase Order reports and enhanced Construction reports are now available in the Interactive Custom Report Writer (ICRW) Report library.
QUESTIONS ABOUT SAGE INTACCT 2024 R4?
These are just a handful of the many new features or enhanced functions introduced in Sage Intacct 2024 R4. Be sure to Contact Your Sage Intacct Partner us with any questions you have about the latest release or to request access to the fully-detailed Sage Intacct 2024 R4 Release Notes.
