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Sage Intacct 2021 R3 New Release – Highlights

In Business Management Software, Sage Intacct by Andy Patterson

Reading Time: 4 minutes

Each quarter, updates are added to Sage Intacct. These can be a combination of bug fixes, new features, and customer lead changes. Unlike a desktop accounting package, these updates are in real-time which means you don’t need to sit and update each instance of your program around the office!

Let’s take a look at a few highlights of the upcoming release which is due on 20th August.

New dashboards and insights

Dashboards are a useful way to centralise and share related information. The new release will have several new features in the dashboard area, enabling you to have a greater way to share information within the application. A key feature is having billboard-style messaging right on your dashboard! This can be used if you want to remind a user of a particular process/ function when completing a task

Other features in this area will be Attachments and Custom Navigation. 

The attachments feature will give you the ability to add documents or files to a particular dashboard. For example, let’s say you create a new policy document that you want users to have access to. In the current release, users need to be aware of the location of these files and will need to navigate to where they are stored. In the R3 release, this won’t be necessary, they simply find it right there on the dashboard!

With custom navigation, you’ll be able to add access to a particular menu. A user can then simply access a component such as General Ledger or AR Sales Invoices with one simple click, all from the dashboard.

New Matching rules – improved automation

In the current release (2021 R2), you can only group transactions that were posted in Intacct. With the 2021 R3 release, you have the ability to also group bank transactions. This is a more automated way of matching transactions in your bank reconciliation meaning less time spent looking for those single bank transactions which when posted into Intacct, were grouped together as one. This will be done by the way of matching conditions in a filter.

A new feature for matching is the flexible text. This dynamic way of matching text will be great for automatically matching items from your bank’s description of a transaction or a particular transaction ID. As with all automated options, just be sure to think about things such as the amount and date of the transactions when using this feature.

In Transit Warehouse Transfers

If you currently subscribe to Inventory, you will know that a movement of items between warehouses is immediate. Clearly, this isn’t reflective of a real-life scenario and of course, may take some time to complete for a number of reasons. With the 2021 R3 release, there will be a feature for allowing for in-transit time and as such, represents your actual stock levels until the stock actually arrives at the ‘to’ warehouse.

Financial Report Writer enhancements

Writing your own reports can often be a little daunting. The good news is that the new reporting capabilities for report writer are customer lead and help make things a little easier. They are:

New divider column type: To help with readability, you can use a vertical divider to add more space between columns on your reports

Full Period (Forecast) column type: Rather than pro-rata, you can now have a full period forecast on your reports based on your actual budget

Expanded column type: Looking at revenue or expense variances can sometimes look misleading on a report when it comes to positive or negative. Now, you will have the ability to determine how you can see exceeding budget is. Will it be a good thing or a bad thing? (think along the lines of exceeding an expense budget…)

Secure PDF’s

A great new feature will be the addition of secure pdf files. This means when you export something such as an invoice or a financial report, you can prevent any amendments, comments or copying, etc to be performed on your export. The only option available will be print and with the knowledge of the document being protected with 128bit encryption, you can be safe in the knowledge that your document is exactly you as wanted it. Setting it up couldn’t be simpler, simply tick the ‘secure PDF’ tick box when setting up a printed document template, see the screenshot below:

secure pdf for intact

Conclusion

Above is only a summary of some of what we think are the most useful new features.  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 watch an on-demand demo of Sage Intacct and see if it’s the right fit for your business, here.

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