Sage Intacct’s fourth and final release of 2023 will become available on November 10. Our team is excited to show an exclusive preview and the highlights of what you can expect for Sage Intacct 2023 R4:
Enhancements to Accounts Payable (AP) & Accounts Receivable (AR) Modules
Pay Bill Screen: Introducing a new field called ‘Preferred Payment Method.’ This field pulls from the vendor file and allows you to check the preferred payment method for each vendor.
Improvements to Vendor Approval Process: Streamline your vendor approval process with automated triggers that initiate approvals upon vendor record updates during import.
Vendor Aging Reports: New filtering features that allow more flexibility while creating vendor aging reports.
Vendor Setup Screen: Introducing a new field where vendors can be designated as an individual person. For security purposes, Personal Identifying Information (PII) will be hidden during data exchange.
Cash Management New Feature: Bank Transaction Assistant
The Bank Transaction Assistant is a transformative feature designed to streamline your accounts receivable process. With this innovative workflow, you can now:
Automatically Assign Payments: As electronic customer payments flow in through your bank feeds, the Bank Transaction Assistant effortlessly assigns them to the appropriate customer accounts within your AR (Accounts Receivable).
Apply Payments With Precision: Not only are payments matched to customers, but they are also automatically applied to the corresponding invoices, minimizing manual entry and reducing the likelihood of errors.
Effortlessly Manage Advances: If a customer payment arrives before an invoice has been created, the system intelligently issues an advance. This means you can maintain accurate financial records without any extra steps.
This feature is all about optimizing your cash management tasks, saving you time, and ensuring that your financial operations run smoothly and efficiently.
Sage Field Operations (SFO) – New Updates & Features:
Flat Rate Pricing: Offer all-inclusive rates for services with combined parts and labor, simplifying billing with one straightforward price.
Mobile Credit Card Processing: Thanks to the Fortis Payment Integration, field staff can now process payments on the go via mobile devices.
Mobile App Enhancements:
- Quote Creation: Field employees can now generate quotes directly within the app.
- Offline Inventory Access: Access parts and miscellaneous items offline, ensuring uninterrupted productivity.
- Location Tracking for Timekeeping: Monitor and record employee locations for accurate time tracking during job punches.
New Feature: Flexible GL Account Structure Adjustments
Now, even after accounts have been established and transactions have been posted, you have the ability to modify the length of the GL account numbers and renumber them as needed. This flexibility can lead to substantial changes in your system, enhancing your financial reporting and analysis capabilities.
Please note: Due to the significant impact this feature can have on your accounting system, we strongly recommend consulting with your Sage partner before implementing these changes. They can provide expert guidance to ensure a smooth transition.
To understand the prerequisites and detailed steps for utilizing this new feature, please watch the video above.
ICRW Learning Journey: Master Advanced Reporting
The ICRW (Interactive Custom Report Writer) offers a step up from the standard financial and custom report writers by allowing the use of multiple queries and custom SQL. This makes for a powerful, though more complex, reporting tool. ICRW Learning Journey is designed to make mastering ICRW straightforward, providing you with the most comprehensive and rewarding experience in Sage Intacct. Discover how to start your ICRW Learning Journey in the video above.
Introducing Sage Construction Management
Sage Construction Management is the latest Sage product for construction (formerly known as Corecon) that manages your project lifecycle from start to finish.
Advanced Ownership Consolidation
Ideal for businesses experiencing shifts in investor profiles or ownership changes. This tool simplifies the consolidation process for entities with non-controlling interests across multiple levels, enabling efficient and automated roll-ups for intricate ownership scenarios.
Receive Single Payments for Multiple Customers
Effortlessly allocate a single payment to multiple invoices for different customers with Sage Intacct’s latest feature. To enable this function, simply visit the Accounts Receivable configuration settings. For guidance, refer to the step-by-step walkthrough in the video above.
Lien waiver option is now available in Vendor Compliance
In the previous release, Sage introduced the Vendor Compliance feature, which allows you to define compliance requirements and types for your vendors. Sage enhanced the feature and added a lien waiver category to compliance definitions. This enhancement impacts the following objects.
Note: To enable the Vendor Compliance subscription, first enable Accounts Payable, Purchasing, and Construction. Vendor compliance is available only for Construction at this time.