Sage Intacct 2023 R4 Release notes

In Business Management Software, Sage Intacct by Nathan Davies

Reading Time: 5 minutes

We are thrilled to introduce the latest quarterly software release for Sage Intacct 2023 R4. Sage’s commitment to innovation and continuous improvement shines through in this release, which brings new features, enhancements, and optimisations designed to streamline your financial processes, boost efficiency, and provide you with even greater control over your organisation’s finances.

With a focus on improving the user experience and addressing the evolving needs of modern finance professionals, this release represents a significant step forward in making your financial management experience with Sage Intacct more seamless and powerful than ever. In this quarter’s release notes, we’ve got some exciting updates to share with you in areas such as the AP approval process, Bank reconciliation, and a new and improved enhanced email delivery system.

Sage Intacct 2023 R4 Release highlights

Advanced Ownership consolidation

Sage has updated the consolidations application to enable a new feature called ‘Advanced ownership consolidation’. This feature will enable companies to consolidate financial data across multiple entities with varying percentages of ownership. This new function will improve the accuracy of your consolidations and remove any time-consuming complex multi-entity consolidation processes currently in place.

  

A new ownership structure has been introduced to help enable this that will allow you to define what percentage of each entity is owned by the company and the method of consolidation to be used. If this percentage changes over time, this can also be modified as needed.

Reconciliation enhancements (Cash Management)

A much-anticipated update to the reconciliation process brings an exciting new change with the new Bank Transaction Assistant. You can now effortlessly and promptly link clients to bank transactions and subsequently collect numerous payments from multiple customers, all within the Bank Transaction page. Following the receipt of payments, Intacct will automatically reconcile the posted payments with the bank transactions.

Receiving one payment for multiple customers (Account receivable)

This highly community-requested feature has now been released and is finally available to all users!

This new option is designed for when you receive a single payment but need to apply the payment to sales invoices from different customers. This feature can be accessed through the AR receive payments page. You will now be given the option below to apply the payment to:

  • One customer’s AR sales invoices.
  • Parent and child customer AR sales invoices
  • Multiple customers’ AR sales invoices.

Update an AP purchase invoice that you’ve submitted for approval

An update to the AP purchase approval process will allow you to recall any invoices that you have submitted for approval.

This feature will enable you to return the invoice to an editable state to potentially amend any errors or update the invoice with new information. Once updated, the invoice can then be resubmitted for approval. This change will help improve the AP purchase approval process and remove any unnecessary delays in making changes to an invoice awaiting approval. All users with the ‘AP Purchase Invoice Edit’ function will be able to recall invoices.

Enhanced email delivery system

The highly anticipated new email delivery system is finally live! Some of the key features include:

  • Support for DKIM authentication. DKIM will ensure that any emails sent are delivered to their intended recipients quickly and reliably.
  • Sending emails from multiple domains. For instance, if you authenticate example.com, you’ll be able to send authenticated emails from sub-domains like accounts.example.com or invoice.example.com
  • Improved email insights to clearly show the delivery status of the emails you have sent. This is available through the new email delivery log available to admin users and any users granted permission. This log can be viewed through Company > Admin tab > History and reports > New email delivery history.

Contract expenses improvements

In an exciting new change to the contracts application, there is now a simpler and more effective way to easily manage your contract and contract line expenses using the new Expense lines list.

From this new and improved enhanced list, you can personalise your view as well, use advanced filters, and record details side by side in a new split view function as well as being able to:

  • Add new expenses
  • Edit or view existing
  • Import new expenses

Other key Sage Intacct 2023 R4 update highlights

General Ledger

  • You can now increase the length of account numbers and additionally change account numbers themselves. This increases the amount of account numbers available and also provides greater flexibility in changing the numbers while adding a new ‘permanent record number’ which is separate from the account number.
  • Adjustments can no longer be entered into locked periods. This means you can now produce your reports with confidence knowing that the information in the system will never change with that on the report.

Projects

  • Plan your projects with greater precision on revenue and expenses with this new update providing detailed project estimates comparing estimated and actual costs to give you better visibility on your profitable projects.

Reporting

  • Drill down from stored financial reports will allow you to view the current information against the line and compare it to when the report was created and stored.

Conclusion

This is a summary of our favourite bits from the November 2023 release, and what’s apparent is the best ideas come from end users such as yourselves. With that in mind, if you are a current Sage Intacct user with ideas for any improvements click here and have your say on what features you would like to see developed for future updates!

If you’re not already signed up for our Sage Intacct newsletter, what are you waiting for?! These newsletters will be sent to you quarterly, with all the latest blogs, webinars, and free downloadable guides, to help you get the most out of your Sage Intacct system.

And finally, if you’re not a Sage Intacct user but enjoy having a nosey at the new features in Sage Intacct, we have an on-demand demo that allows you to pick the features you’re interested in learning more about, you can check it out here!

New call-to-action