What AP Automation Tools does Sage Intacct have?

In Business Management Software, Sage Intacct by Emma Unwin

Reading Time: 6 minutes

As businesses search for ways to optimise their operations and enhance productivity, accounts payable (AP) automation has become an invaluable tool in achieving these goals. Sage Intacct offers a range of built-in AP automation tools designed to simplify and enhance your financial operations. In this blog, we will explore the native AP automation capabilities of Sage Intacct and introduce some third-party add-ons and marketplace partners that can further optimise your AP workflows.

Before looking at third-party add-ons and marketplace partners let’s take a look at what option Sage Intacct has for accounts payable (AP) automation.

Sage Intacct AP Automation options

Purchasing Workflows

Sage Intacct enables you to efficiently manage various transaction types, including requests for quotes, purchase requisitions, purchase orders, purchase invoices, purchase credit notes, and returns. Converting one transaction type into another is seamless; for example, when a purchase order receives managerial approval, it can be easily converted into a purchase invoice with just a click, transferring all relevant information.

If you need to partially convert a purchase order to a purchase invoice you can do this by amending the quantity on your converted invoice lines. You then have a couple of options to choose from for the remaining purchase order amount; you can either leave the original purchase order open and it will be marked as partially converted or you can close the original purchase order and the system will create another purchase order for the remaining amount.

Intacct also allows you to combine transactions into one transaction, a good example of how you can use this is if you have entered two purchase orders for different items and want to combine this into one purchase invoice.

Don’t worry if your business does not require the use of purchase requisitions or receipts, you can use one of Sage Intacct’s out-of-the-box purchasing workflows, or you can create a custom workflow with different transition definitions and a different conversion order which fits your business model better!

Additionally, you may not want all users to be able to see purchasing reports or create purchase invoices, permissions can be set in the system to restrict users from creating purchase invoices or accessing certain purchasing reports.

Automated Tax Rate Selection

Sage Intacct can automate VAT calculations on your purchasing transactions! You no longer need to worry about your team accidentally entering the wrong tax rate on a purchase invoice and having to untangle the issue when submitting your VAT return. Intacct can determine the correct tax rate by combining the tax group set on your supplier and the tax group set on a product. For example, if you have a supplier based in the UK but when you select a particular product it’s at a reduced VAT rate, simply select the supplier as a ‘UK Supplier’ and select ‘Goods Zero Rate’ for the product and Intacct will then automatically apply the zero rate, making the entire process smooth and hassle-free!

Approvals

In Sage Intacct there are a few different approval options you can choose from, approvals can also be turned on for any transaction definition in your purchasing workflow.

  • Value approval: Approval requests are sent based on transactions amount, you can also have different levels here.
  • Manager: Approvals can be sent to the employee’s manager, employee’s department manager, location manager, transactions department manager, or transactions project manager.
  • Named User: Approvals are sent to a specific user.

The approver does need to have a licence to log into the system and approve transactions, but they do not need a full business user to approve transactions.

Once a transaction is sent for approval an email is sent directly to the approver, with a handy link which once clicked will take them to the approvals page in Intacct at the entity/level they need to approve transactions for.

New call-to-action

Prepaid Expense Amortization Module

Prepaid Expense Amortization (PEA) is a Sage Intacct module that automates the amortization of up-front expenses such as rent, insurance, or licenses. With PEA, you can streamline your close process each month:

  • Increase accuracy and save time by recognizing prepaid assets directly from bills.
  • Shorten your close time by automatically generating journal entries for expense amortization.
  • Ensure proper period cut-off by accounting for expenses in the correct periods.

PEA integrates with Accounts Payable and Purchasing to make entering and tracking your prepaid expense amortization easier. As such, AP Purchase Invoices and Purchasing Purchase invoices are the primary sources of PEA transactions, though you can enter manual entries from other sources like GL entries or even manually created prepaid expense schedules.

Now let’s take a look at what Sage Intacct marketplace partners there are and what add-ons they have available!

Sage Intacct Accounts Payable Integrations

Webexpenses

Webexpenses is a leading global provider of cloud-based spend management software and has one main objective: to enable businesses to be more efficient and effective by removing the need for manual processes and improving the visibility of your company’s spend. The flagship expenses solution automates the expense process, significantly reducing processing times and travel and expenses costs.

It has a direct integration with Sage Intacct to enable seamless transfer of data. Finance teams can easily map fields and categories into Sage Intacct and transfer expense data with a click of a button creating a more efficient process. With this connection, finance teams can manage expenses from claim through to approval and payment. A user will raise an expense claim which will go through an approval process and be submitted to accounts within Webexpenses. Accounts verify and send the claim to Sage Intacct for payment.

Another aspect of Webexpenses you can take advantage of is credit card management and reconciliation. Remove the need for manual entry by importing credit card payments into Webexpenses or use a secure, direct feed from your bank.

Webexpenses helps your business:

  • Gain easy reporting capabilities
  • Have improved visibility on credit card transactions and spend
  • Reduce the backlog of receipts
  • Save time on credit card reconciliation processes

Yooz

The Yooz multi-award-winning AP automation solution solves today’s finance leaders’ top challenges when it comes to manual and time-consuming invoice and payment processing workflows.  Cost-effective, intuitive, simple and smart.

It provides a cloud, accounts payable, and purchase-to-pay automation solution that integrates seamlessly with Intacct’s AP and Purchasing modules. Yooz will connect to the purchasing module and pull over the purchase order, close the purchase order directly in Intacct, and update the invoice status to paid. Yooz will update every 15 minutes from Intacct for the most up-to-date data.

Yooz helps your business:

  • Reduce manual entry and errors
  • Speed up your purchase to pay cycle
  • Take your authorisation process digital

Beanworks

Beanworks let you centralize your AP for multiple locations or entities, by matching your purchase orders to invoicing and receiving. It automates approval routing for purchase orders, invoices, and payments.

Beanworks integrates with Sage Intacct to save your accounting team from slow and error-prone paper processes. Beanworks enhances your Sage Intacct experience by taking care of data entry, consolidating payables for multiple companies, and streamlining POs to payments. With end-to-end accounts payable automation, you can trust that AP controls are in place, find invoices instantly, and free up your team’s time for higher-value work.

To keep the most up-to-date data in Beanworks the synchronisation with Sage Intacct will occur automatically every 2 hours, syncing invoice and payment data instantly.

Conclusion

If you’re an itas customer and would like more information on any Sage Intacct AP Automation tool or marketplace partners, please contact your account manager, you can call us on 01824 780000, or drop us an email at info@itassolutions.co.uk.

If you are a Sage Intacct user but not an itas customer, but you’d like to talk to us about any of these AP automation tools, please feel free to get in touch with us as we’d be happy to help!

Finally, if you’re not a Sage Intacct user and you’re trying to understand the features and functionality available, we have a wide range of resources that you might want to explore to learn even more about Sage Intacct. You can watch our 25 Minute On-Demand demo, or explore the Sage Intacct modules and Sage Intacct integrations available.

New call-to-action