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Sage Intacct 2022 R1 New Release Highlights

In Sage Intacct by Emma Unwin

Reading Time: 4 minutes

You are all probably aware now, but Sage Intacct releases quarterly updates to make sure you are getting the best possible experience from your cloud finance software. The updates do not require any action on your part and are automatic. In this blog, we have included some of our favourite enhancements and features from the upcoming release, which is due February 18th 2022!

Accounts Payable

In this release, there have been quite a few extra features added for the Accounts Payable module. One of our favourites is the new early adopter program for purchase invoice automation.

You will now be able to upload AP purchase invoices either via:

  • The new ‘AP Purchase Invoice Upload‘ button in a pdf, JPG, PNG file format
  • You or your supplier forward AP purchase invoices to a provided email address

For each uploaded or emailed AP purchase invoice, Sage Intacct creates a draft AP purchase invoice, populated with data captured from the uploaded AP purchase invoice. Using artificial intelligence, Sage Intacct matches the AP purchase invoice to the correct supplier record and suggests GL accounts and dimensions, based on your AP purchase invoice history. Each automatically created draft includes the original AP purchase invoice as an attachment, for easy reference.

After Purchase Invoice Automation has processed the AP purchase invoice, all that’s left for you to do is to review and post. The result is a streamlined, automated workflow that saves you time and reduces errors.

  • Redesigned AP purchase invoice detail page. Sage Intacct has reorganised the AP purchase invoice screen to save you time, moving frequently referenced information into more prominent locations, so that you can quickly evaluate the status of an AP purchase invoice and line items at ease, without scrolling.

Sage Intacct Update - 2022-R1-ap-bill-details-trxn

If you are interested in the early adoption program please get in touch with us.

  • There are new permissions available that unmask supplier bank details for a user with the relevant permission. This is useful when users need to verify a supplier‘s bank account details in Sage Intacct.

Masked Bank details:

Sage Intacct Update - 2022-R1-UI-masked-bank-details

Unmasked bank details:

Accounts Receivable

Two key features coming for the Accounts Receivable module are:

  • You will now be able to import customer payments in bulk, saving you the time and trouble of entering each payment individually. There does have to be sales invoices already created in the system to upload a payment, but it will be able to handle any overpayment for you.
  • A default sender for emailing AR sales invoices and statements can now be set to reduce the need to manually change the email address each time from the user’s email address or use a customer email template.

Sage Intacct Update - 2022-R1-UI-default-sender-config

Cash Management

There have been some enhancements to matching rules!

You can add a new type of rule that creates journal entry transactions in Sage Intacct to match incoming bank transactions. This saves you time and eliminates manual data entry processes. For example, you might want to automatically create journal entries for bank fees and rent.

Sage Intacct update - 2022-R1-cm-create-rules

General Ledger

We now have the ability to reclassify journal transactions that have been approved and posted, as long as the period is open. Reclassify lets you make certain immediate changes to posted journal entries, such as dimensions, memos etc without the need to submit for re-approval.

Reporting 

There has been a new column type available to add to financial reports called ‘Notations‘.

Notations allow you to add a column anywhere in a financial report that enables report creators to include text that explains, clarifies, or enhances what’s in the report columns. You can add a notation for a single account or any number of accounts in the report, have multiple notations columns and place them in different areas of the report. The notation can be row-specific but is still inserted as a column. The notation appears beside the total for the row the notation was created for

Sage Intacct Update - 2022-R1-notations-tab reporting

Sage Intacct Update - 2022-R1-notations-results reporting

Advanced CRM Integration

You can now break the link between specific Sage Intacct and Salesforce objects using the Break Record Links tool in Salesforce. Breaking a link between objects can be useful, for example when a duplicate Intacct Customer is made by mistake, or when a Customer is created in the wrong Intacct entity.

Web Services

In Purchasing and Order Entry you can now override the calculated VAT amount when creating or updating transactions via the API.

Conclusion

Above is only a brief insight into what we think are the most useful additions in the new 2021 R4 release. 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 in your own time, this demo is 25 minutes long and will give you a great understanding of the product, you can watch it here.

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