Sage Intacct
R2 2023

Percipient Sage Intacct Consultant, Grace Freeman, shares her highlights of what you can expect from Sage Intacct’s second software update for 2023 (R2 2023).

What’s new in the latest release?

Locked out email notification

When a user is locked out of Sage Intacct, they will now receive an email to let them know why they have been locked out with a prompt to contact admin to reset their password.

You have exceeded the maximum number of login attempts to Sage Intacct. Contact your company’s Sage Intacct administrator to reset your password.

Thank you, Sage Intacct.

Supplier list enhancement

The supplier record opens when you drill into a supplier name from the supplier’s list.

Previously this link took you to the AP ledger report for the supplier. You can still access the AP ledger report for a supplier by going to Accounts Payable > All tab > Reports > AP ledger.

Select the supplier for both the ‘From supplier’ and ‘To supplier’ fields to filter results for that supplier.

Edit reversal dates

You can now edit the reversal date on posted payments to correct information, by selecting ‘Enable edit of reversal dates’ in the accounts receivable configuration page.

To better control who can edit transactional information, you’ll need to assign user or role permissions after you enable the setting.

Apply credits and line-level payments in bulk

Last year, Sage Intacct introduced the ability to import customer payments in bulk through CSV import. Now, you can use the same CSV template to apply credits in bulk. You can apply AR adjustments, negative AR sales invoice credits, and inline credits in this way.

Before you import:

  • Verify the import data before you upload to Sage Intacct – you cannot bulk reverse the applied credits.
  • Upload a single row first to test your import data. That way, you can make data corrections as needed before importing multiple rows.
  • You can import payments for unique AR sales invoice numbers or adjustment number transactions only. If there are multiple sales invoices or adjustments with the same reference number, the import will be unsuccessful.

You’ll receive an email after the import is complete. If there are any errors, they’ll appear in this email.

Customer list enhancements

Now, when you drill into a customer name from the customer’s list, the customer record opens.

Previously this link took you to the AR ledger report for the customer. You can still access the AR ledger report for a supplier by going to Accounts Receivable > All tab > Reports > AR ledger.

Lock closed periods

After you close your books for a statutory reporting period, you can lock the period so that it cannot be reopened. Locking a period helps ensure that the information in your system remains in agreement with the official reports that you produce for the period.

Include subledger transactions in your audit trail

Sage Intacct has added new ways of tracking changes to transactions posted from subledgers.

To use the new ways of tracking changes to subledger transactions go to General Ledger > Setup tab > Configuration and select ‘Enable auditing of transactions posted from subledgers’ in the accounting settings section.

Drill down through account groups

Analyse your data quickly and directly by drilling down through account groups to transaction-level details. These details are displayed in a general ledger report.

Drill Down to Account Groups

Date format options for email templates

Make it easier for customers to scan and process their emailed AR sales invoices, statements, and dunning notices by formatting dates in their preferred format.

When a document is emailed using an email template, this new option determines which date format is used for the date merge fields in the email. For example:

  • Use an email template with the option selected when emailing documents to European customers who prefer DD/MM/YYYY
  • Use an email template without the option selected when emailing documents to US customers who prefer MM/DD/YYYY

View more bank feed data

New data fields are available on the bank transaction lists to show more information. Now you can see information like the transaction category, subcategory, bank reference number, payee ID, and payee address.

Creation rules support inter-entity transactions

This idea came from you!

Save time reconciling and eliminate manual data entry. Inter-entity transactions (IETs) are now automatically created if you have a creation rule that uses a journal entry transaction template with a location that differs from the location of the bank account.

Role-based dashboards for Service Industry QuickStart

For companies created using the Service Industry QuickStart template, new dashboards are available to help people in specific roles get the information they need. There’s a dashboard containing relevant reports, tasks, and other information – such as links and graphs – for each of the following roles:

  • AP manager
  • AR manager
  • CFO
  • Controller
  • Revenue department manager
  • Support department manager

Though the dashboards are designed for specific roles, any user with the right permissions can use them.

New reports for the UK

For nonprofit organizations based in the United Kingdom, there are 2 new reports configured specifically to align with the Statement of Recommended Practice Financial Reporting Standard for U.K. Charities (SORP FRS 102).

  • Balance Sheet – UK
  • Statement of Financial Activities – UK

If your company was created with the Nonprofit QuickStart template, you can install the reports from your QuickStart library.

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 and watch the highlights video for R2 2023 here.

The next Sage Intacct release date is due in August 2023. For more information on Sage Intacct or the latest software release, get in touch or call us on 01606 871332.

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