Percipient Sage Intacct Lead Consultant, Grace Freeman, shares her highlights of what you can expect from Sage Intacct’s second update for 2024 (R2 2024).
What’s new in the latest release?
Accounts Payable
Easier Access to Payment Files
You can now generate and access payment files for ACH and bank file payments in Accounts Payable, without needing to switch to Cash Management.
To access payment file options, go to Accounts Payable > All > Payments > Payment files.
Cash Management
Match Sequence Report
Run a pre-built custom report to see which Sage Intacct transactions matched to which bank transactions. Set parameters for the bank account ID, the GL account, or look up matches by a specific sequence. You can also group by sequence number for easy visibility into which Intacct transactions matched with which bank transactions.
In the report, you can view both the bank transaction and Intacct transaction, along with any available transaction details like Description or Bank record number. You can customize the report to get just the detail you want.
Cash Management
Bank Transaction Assistant
Speed up your Accounts Receivable and reconciliation workflows. Easily and quickly assign customers to bank transactions and then receive multiple payments for multiple customers, all from the Bank transaction page. After you receive payments, the posted payments in Sage Intacct and the bank transactions automatically match for reconciliation.
For multi-entity, multi-currency companies, receive advances and payments at the entity level.
Order Entry
Bill for Services with Blanket Purchase Orders
Easily bill for services and other non-inventory items based on a set billing value. Using the sales order workflow, you can now convert billing for services to automatically draw down an approved blanket sales order amount.
If you operate a service-delivery company, you may want to have customers set up a blanket purchase order, so you can bill for services over a period of time. As your services are provided and charged each month, you can keep track of the remaining balance.
Purchasing
Pay for Services with Blanket Purchase Orders
Easily purchase services and other non-inventory items against a set purchase value. Using the purchase order workflow, you can now convert purchases of billable services to automatically draw down an approved blanket purchase order amount.
With your regular service providers, you may want to set up a blanket purchase order for a set period of time, perhaps monthly or quarterly. As vendor services are provided and paid each month, you can keep track of the remaining balance.
Accounts Receivable
Draft Payments
Introducing more flexibility with customer payments. Now you can draft customer payments that you’re not ready to post. This gives you the ability to come back to the payment and verify or make changes before you post it to the subledger.
This is especially useful when you want to review payments that were imported in bulk through the Bank Transaction Assistant, a CSV file, or the API as drafts.
You can post draft payments in bulk from the Posted payments page. If you decide you no longer need a draft, you can simply delete it from the list.
Budgeting & Planning
Enhancements in Sage Intacct Planning
Sage Intacct Planning (SIP) is an add-on application that offers a collaborative environment for preparing and managing budgets.
Sync Accounts Wizard
In Sage Intacct, you can modify the IDs and names of existing accounts, which can create differences with the accounts that appear in Sage Intacct Planning. To ensure that data presented in Planning accurately matches Sage Intacct, run the Sync accounts with Sage Intacct wizard.
The changes that you make in the wizard update everything associated with the updated accounts and are reflected throughout Sage Intacct Planning, including:
- Dashboard, Sheets, Inputs, and Actuals tabs
- Versions and scenarios
- Shared budgets
- Statistical accounts and models
Help & Training
Get the Help You Need
Sage Intacct regularly expands the online help and training beyond just new features and enhancements. Each release, they add in-depth, best-practice help and training on existing features also.
Sage Intacct Partner UK
These highlights are only a few of the many new features and enhancements that have come to Sage Intacct in the latest release. If you are a current Sage Intacct customer and want to learn more, you can read the full release notes for R2 2024 here.
The next Sage Intacct release date is due in May 2024. For more information on Sage Intacct or the latest software release, get in touch or call us on 01606 871332.
