Sage Intacct 2022 R4 – New Release Highlights

In Business Management Software, Sage Intacct by Philippa

Reading Time: 4 minutes

It’s that time again…Release 4 of 2022 has come around so quickly and brings with it some great new enhancements for your Sage Intacct instance!

You can find the full release notes by clicking through the link on your home page, as shown below, or you can find the link by clicking here.

 

If you are busy and want to see the highlights then say no more…. we have you covered! In this blog, we will cover some of the key changes coming to you from November 11th, and the ones that we find particularly exciting!

1. SEPA Bank File Payments

We have been waiting for this one for a long time, so it is definitely up there as one of my favourites from this release.

You can now make bank file payments with the SEPA file format to pay suppliers located in Ireland and France.

Bank files support payments between accounts that use the same currency. For example, you can pay a French supplier from an Irish bank account because both use EUR currency.

How it will work

Once you have verified that both your bank accounts and suppliers are set up for bank file payments, you will be able to select a bank currency of EUR and a bank file format of Generic-SEPA, including the suppliers’ payment currency as either Ireland or France and enter the suppliers’ bank account details as normal.

Then, pay AP purchase invoices with your normal accounts payable workflow. Generate, upload, and confirm your bank file payments as usual.

This update only includes EUR payments for Ireland and France but it’s a great start. We are hoping to see more countries added to this list.

2. Bank files for AP advances

AP advances now support bank files as a payment method when your bank account currency is AUD, EUR, GBP, or ZAR.

How it works

  1. Select ACH/Bank file as the payment method when you create the advance.
  2. Generate and download the bank file.
  3. Upload the file to your bank and confirm the bank file in Sage Intacct.

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3. Audit History reports for easier compliance

Easy access to information about changes to your system is a critical component of compliance. With this release, you can access two Audit History reports for use with internal and external audits. These Audit History reports provide details for the changes made to your records and transactions in Sage Intacct, including who made the change and when the change occurred.

This has been requested by itas customers A LOT, so be assured you are being listened to!

How to access Audit History reports

You can now install the Audit History reports through the Package Library. The installed Audit History report appears under General Ledger Reports in the General Ledger Reports dropdown list.

To make changes after it is installed, duplicate the standard Audit History report and modify the duplicated version.

Install from Platform Services

  1. From the main menu, go to Platform Services > Packages.
  2. Click Package Library.
  3. Find the report and click Install.

4. Compliance Documentation

In this release, the Help Centre provides a new section on Compliance best practices. Leveraging the experience of global audit experts, they have outlined key compliance areas and provided considerations and guidance to apply to your internal control and reporting procedures.

Fast-growing companies are able to meet the necessary control definitions and align configurations accordingly for trusted financial reporting.

This is something that has come from feedback from customers, so this highlights the importance of logging your feature requests on the community for changes you want to see in Intacct.

Conclusion

That’s all from Sage Intacct 2022 releases, we look forward to what 2023 will bring and will be sure to keep you all informed as and when the changes take place. If you are looking for help with Sage Intacct we offer a library of Sage Intacct help guides that are growing weekly, available for free. As a multi-award winning Sage Intacct partner, we also offer services for Sage Intacct such as Sage Intacct support & Sage Intacct training!

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