Sage Intacct 2024 R3 was just released in August. Let’s take a quick look at some key new features that span financial management, order entry, purchasing, reporting and analytics, construction industry enhancements, and more.
Tracing Original Documents in Order Entry and Purchasing
You now have clear visibility of originating documents and transactions in order entry and purchasing. The new Originating Document Workflow enables you to easily track the original transaction that started the workflow in the first place.
Because ordering and purchasing typically go through multiple steps before completion (i.e. requisition to order to shipment received), having quick and easy access to the initiating transaction makes every workflow more traceable and accurate. For example, you may want to compare the original price and quantity of a requisition to the invoice received from your vendor. With the new Originating Document Workflow, this process is easy and efficient.
Because ordering and purchasing typically go through multiple steps before completion (i.e. requisition to order to shipment received), having quick and easy access to the initiating transaction makes every workflow more traceable and accurate. For example, you may want to compare the original price and quantity of a requisition to the invoice received from your vendor. With the new Originating Document Workflow, this process is easy and efficient.
Un-apply Accounts Payable Credits
An idea that was submitted by Sage Intacct customers and adopted in the 2024 R3 release, you now have the capability of un-applying credits from posted payments. This is useful when you need to switch the credit that the payment was applied to.
You can un-apply credits of all types, including the following:
After you un-apply a credit, it is then available to apply to other bills. Where applicable, Sage Intacct will also provide the option to reverse the bill.
You can un-apply credits of all types, including the following:
- Advances
- Debit memo adjustments (vendor credits)
- Negative bills
- Negative line items applied from one bill to another bill
After you un-apply a credit, it is then available to apply to other bills. Where applicable, Sage Intacct will also provide the option to reverse the bill.
Sage Intacct Usage Insights
Sage Intacct 2024 R3 introduces the launch of Usage Insights. This new tool consolidates data from multiple sources while providing real-time, actionable insights to optimize your operations.
Going beyond basic reporting, Usage Insights takes you on a deep dive into key areas like transaction volume, usage patterns, access and permissions, and more. Information that was previously buried in your database now pops to the surface and empowers you to make proactive operational decisions.
Key sections of the report include Overview, Customers, Vendors, and API Usage.
Going beyond basic reporting, Usage Insights takes you on a deep dive into key areas like transaction volume, usage patterns, access and permissions, and more. Information that was previously buried in your database now pops to the surface and empowers you to make proactive operational decisions.
Key sections of the report include Overview, Customers, Vendors, and API Usage.
Sage Intacct Construction Enhancements
The new construction manager user type gives project managers access to Sage Intacct Construction – a popular request among Sage Intacct construction customers.
With Sage Intacct 2024 R3, you can now convert multiple documents into a single purchasing transaction so that you can pay a vendor in one payment (for example, when
a vendor charges their work for multiple projects in one bill).
In addition, you can now pay your two-party Construction bills with the new joint checks payment method. That means construction contractors can now create and track joint checks for joint payees on Accounts Payable (AP) bills without using a complicated workaround. This new capability can help you avoid unexpected liens against your project for unpaid secondary and tertiary vendors when subcontractors hire another company to complete work on a project.
With Sage Intacct 2024 R3, you can now convert multiple documents into a single purchasing transaction so that you can pay a vendor in one payment (for example, when
a vendor charges their work for multiple projects in one bill).
In addition, you can now pay your two-party Construction bills with the new joint checks payment method. That means construction contractors can now create and track joint checks for joint payees on Accounts Payable (AP) bills without using a complicated workaround. This new capability can help you avoid unexpected liens against your project for unpaid secondary and tertiary vendors when subcontractors hire another company to complete work on a project.
NOTE: Construction Work-in-Progress (WIP) Management functionality that was previously in Early Adopter is now available to all Intacct Construction customers.
Automated Workflow for Employee Expenses
Now available in the Early Adopter program, Sage Intacct 2024 R3 introduces a new automated workflow for submitting your employee expenses. You’ll save time and improve accuracy by emailing employee expense receipts from any device directly to Sage Intacct.
Your employees can now email their travel or other receipts and use artificial intelligence (AI) to assist in coding them. Machine learning (ML) remembers the changes for future receipts, making the whole employee expense report process even easier.
You can get a sneak peek at what's coming by joining the Early Adopter program.
Your employees can now email their travel or other receipts and use artificial intelligence (AI) to assist in coding them. Machine learning (ML) remembers the changes for future receipts, making the whole employee expense report process even easier.
You can get a sneak peek at what's coming by joining the Early Adopter program.
Other Notable Enhancements
Here’s a collection of new features or enhancements in other areas of Sage Intacct that are noteworthy:
- More file types are now supported in Bank Transaction Assistant import (originally introduced in Sage Intacct 2024 R2).
- A wide variety of new or enhanced reports have been added to the library for the Interactive Custom Report Writer (ICRW) in the areas of construction, order entry, and purchasing.
- AI-Powered AP Automation is now available in all regions.
- From the Manage Schedules page, you can now hold or resume billing, revenue, and expense schedules in bulk across multiple contracts.
Questions About Sage Intacct 2024 R3?
These are just a handful of the many new features or enhanced functions introduced in Sage Intacct 2024 R3. Be sure to contact your Sage Intacct Partner with any questions you have about the latest release.
