We’re excited to share that Sage Intacct has just released the first update of 2020 to their award-winning cloud financial management software—Sage Intacct 2020 Release 1.
Sage Intacct has made some game changing enhancements to better serve your growing company. We know you will love the updates to the cash management functionality. The new updates will help save hours of time each month and gain better control and insight into your cash, BUT that is not all.. check out everything that is new here, and the impact it can bring to you and your organization.
Click here to watch the release overview video
Release 1 Highlights
Cash Management – enhanced bank reconciliation:
- Reopen a reconciliation: Before this release, if you wanted to open a reconciliation that was three or four periods ago, you had to reopen every reconciliation back to the desired one. Now, as long as the period is open, you can reopen any reconciliation with just one click and the subsequent reconciliations are automatically reopened.
- Create a journal entry from an unmatched transaction: Reduce manual effort on journal entry transactions by 50%. Now you can create journal entries directly from an individual line item in a reconciliation. The information from the reconciliation line item automatically flows into the new journal entry, saving you time.
- Get smarter matching: Now, the auto-match process excludes any transactions you already manually unmatched. In other words, if you unmatched a transaction, that transaction will not be re-matched if you choose to run auto-match again.
Contracts – Get insight into your MEA allocations. Use the Custom Report Writer to analyze calculations and report on the allocation of transaction prices for performance obligations across contracts.
Inventory – Enhanced management: you get a potpourri of features in this release, such as:
- Draft mode for build kits: No more canceling a build kit when it’s not just right. Draft mode enables you to build, review, and edit kits before posting. And, if you need to disassemble kits, you can also do that in draft mode.
- Traceability: No more using only the serial number or lot number to track an item. you can now select both serial and lot numbers as needed. For example, if you have high-end electronic items, each with its own serial number, you might need to track some malfunctioning ones back to the lot they were produced in.
- Buy-to-order: Minimize inventory costs by reducing the need for keeping stock on hand. Buy-to-order enables you to generate a purchase order for items that can come to you or go to a third party for some specialty work and then get shipped directory to your customer.
Purchasing – transaction allocations – We enhanced workflow in Purchasing to get more targeted reporting. You can use transaction allocations to automatically share amounts across multiple dimensions—such as departments, locations, projects, or classes. For example, you could add rent to a single line in the transaction and spread it across 4 departments. Currently, this feature applies to only those purchasing transactions that post to the Accounts Payable subledger.
Journal entry – attachment management – Save clicks by viewing or attaching files to journal entries directly from the journal entry list. No need to click into the record. Now you can work from your journal entry list to attach, view, or edit documents without interrupting your flow.
And much more…
Take a look at the full set of release notes for the 2020 Release 1 and learn about how Sage Intacct is helping customers simplify their day-to-day and giving them insight that drives transformation for their organization.