The 2023 R1 Release for Sage Intacct is launching on February 17th, 2023. This will be the first update in 2023 out of the four quarterly updates that Sage Intacct applies. From improved workflow, the official construction payroll release, to expanded custom reports, the 2023 R1 update has a lot to offer to the construction industry. Continue reading to learn what you can expect from the latest update.
Key Highlights for Construction Â
- New built-in accounts payable (AP) automation.
- Official launch of Sage Intacct Construction Payroll. Use Construction payroll functionality to automate and simplify payroll tasks associated with construction projects.
- Bill Construction retainage on project contract invoices. You can release and include billed retainage with your regular project contract billing when you generate project contract invoices.
- View project contract billing details directly from your contract.
- Project contracts will now post to general ledger (GL) budget. This allows you to run financial reports on projects and report on all columns that might be on a WIP (work-in-progress) report, contract amount, estimated amount, billed, and more.
- Expanded custom reporting for construction payroll.
Accounts Payable Updates
AP Automation is now available Â
Boost productivity and streamline your bill creation process by having Sage Intacct create draft bills for you.
Save time applying credits to bill
Restrict available credits to a date range using the new Pay Bills Filter.
Accounts Receivable Updates
New payment object for reporting
Sage has added a new Accounts Receivable payments object so you can run a centralized and detailed report for all AR payment transactions.
Security control for summary batches
To reduce discrepancies in your transactional data, the option to edit summaries and payment summaries is now available only for manual summaries.
General Ledger Updates Â
Choose how the Trial balance report shows opening and closing balances
Sage has added a new checkbox that lets you choose to show opening and closing balances as debits and credits combined or as debits and credits separately.
Advanced Updates to Construction Reporting
Construction reporting areas in ICRW
ICRW offers new Construction payroll reporting areas to enhance managing and tracking direct and indirect labor costs for your projects.
New payment object for reporting
Sage has added a new Accounts Receivable payments object so you can run a centralized and detailed report for all AR payment transactions.
New permissions reports
Sage has added two new reports to simplify tracking and managing user permissions.