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Sage Intacct 2021 R2 New Release Highlights

In Sage Intacct by Nathan Davies

Reading Time: 4 minutes


Sage Intacct
releases updates to its services every quarter. These updates require no action on your part and are automatic, including new product enhancements and features. The next quarterly release is due May 21st. Below are some of our highlights of things to come!

Sage Intacct Reports

Dimension Balances Report Enhancements

Dimension Balances report is a standard report within the General Ledger (GL). This will be enhanced with the added options of a trial balance-style view, a budget summary view, or a comparison of budget and actual, side-by-side. A comparison/variance column can be added.

View your books close status in a dashboard

No longer will you have to go into each of the sub-ledgers to see which ones you have closed down. The newest release will provide a dashboard component to show the status of each.

Sage Intacct Cash Management

Reconciliation

Previously when retrieving bank transactions from bank feeds or importing them from a CSV, they would auto-match from matching attributes. Matching attributes, following the release will no longer be available. This is being replaced by matching rules per account.

Matching rules

Matching rules define how incoming transactions are matched against your Intacct data. For example, a rule can ignore leading zeroes. Each rule requires a matching condition to match by amount.

More advanced rules can be created to only match certain Intacct transactions. For example, match transactions by document number and amount, but only look at transactions from a certain bank.

Matching rule sets

After a rule has been created, add it to a rule set. Rule sets act as containers for rules. Within the rule set, rules can be prioritised to choose which runs first. As a best practice, make sure the most specific rule runs first.

When you’re satisfied with how your rule set looks, assign it to an account. An account can only have one rule set. However, one rule set can be assigned to multiple accounts.

Re-reconcile Bank

Mistakes can often be found after everything has been closed and reconciled. Unpicking paid and reconciled items could be a painful process that involved opening reconciliations and reconciling them. The update will mean that when the reconciliation is reopened – all the matches will be remembered.

Bank Feeds

Bank feeds will now refresh automatically every 4 hours. This removes the need to manually refresh once a day.

Sage Intacct General Ledger Approval Improvement

Journal Approval

Each journal will have its own independent email setting. For example, each journal can have its own approver. You can also define how frequent the approver receives an email notification. This is very handy to avoid an inbox full of approvals per transactions. These can be set to be once a day, week or month with the number that needs approval.

Comments on approval history

Journals will have a “History” tab similar to purchasing transactions. This gives the user full visibility of approval history and any comments of why it was approved/declined.

Attachments from approve list

The journals to approval list will now have a link to quickly view any attachments. This can speed up the process and avoid having to go into the transaction.

GL Outlier expanded to allocations

GL Outlier was a feature released in the last release which uses AI to detect any “Outliers” (items that have not been posted before). The functionality of this has been expanded to look at the allocations on the line items and detect any outliers.

Sage Intacct Inventory Enhancements

GL Postings from Transactions

Inventory transactions will include a “Posting Tab” to easily view where it has affected the GL without having to drill down into transactions. NOTE: This feature will be expanded to Purchasing and Order Entry Transactions which removes the need to locate the transaction in AP and AR.

Additional Item Fields

40 additional fields added to and Item. This can be used to create better reports to enable better groupings and combinations of products without the need for custom fields.

The additional fields also include the ability to run reports directly from the item:

Negative Inventory Control

The release will allow for different rules for different warehouses. Negative inventory can be enabled per warehouse rather than a simple on or off feature.

Sage Intacct Supplier Bank Details

You asked and Intacct provided! Probably the most requested feature of the past year is the ability to view Supplier Bank Details all on one report. This will now be possible following the release give users the easy visibility needed.

Above is only a summary of some of what we think are the most useful. If you would like to see a full list of all the changes, click here. If you have questions about any of the above changes please get in touch.

If you are not a current Sage Intacct customer and would like to learn more about the product, click here. You can also take a free tour of Sage Intacct and see if it’s the right fit for your business, here.

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