Sage Intacct 2020 Release 1

By - April 21, 2020

In 2020 Release 1, Sage Intacct has added features to help you save time and increase the productivity of your business. Like all its quarterly updates, the latest release was automatically rolled out to users of the cloud-based financial solution.

Changes have been made to the way users interact with Sage Intacct, as well as to specific aspects of it, such as bank reconciliation, contracts, purchasing and inventory.

Improvements to navigating Sage Intacct

  • A user experience update that freezes the column heads for tables within Sage Intacct, which allows them to be seen as you scroll down. Previously, you had to scroll back to the top of the table to see the column heads. Though this change seems small, it can save you a significant amount of time when you’re reviewing lines and lines of data.
  • Shortcuts that allow you to quickly go back to list pages from detail pages, like add or edit pages
  • Quick filters that simplify searches and help you move through the system with ease. When you need to find objects, fields or relationships, this new filter lets you search by type, data updated or text. Previously, you had to depend on the browser’s find function to locate this information.
  • Custom applications can now be set to look like the Action User Interface, which lets you experience a more consistent display as you work across applications.

Enhanced Bank Reconciliation in Cash Management

It is now much easier to reopen a bank reconciliation in Sage Intacct. Before, if you wanted to reopen a bank reconciliation from prior periods, you had to manually open every one back to the one you wanted. Now, as long as the period is still open, you can reopen just the reconciliation you need with a single click and the others will be automatically reopened.

Bank reconciliation also has a new feature when it comes to matching. The auto-matching process now excludes transactions that were already manually unmatched. So if you decide to run auto-match again after unmatching items, it won’t rematch any of them, which can save time.

Changes to Contracts, Purchasing and Inventory

In the contracts module, you can now use the custom report writer to analyze more calculations and reports for allocation transactions.

An improved workflow in the purchasing module allows you to target more reporting and use transaction allocations to automatically share a balance across more than one dimension, like locations, departments, programs and classes. For example, you could add rent to a single line in a transaction, then you could divide the rent across four different departments. Be aware that currently, you can only take advantage of this feature for purchasing transactions that post to the Accounts Payable (AP) sub-ledger.

Several changes were made to the inventory module, which is an add-on to Sage Intacct. Build kits have a new draft mode, so they don’t have to be canceled if they are incorrect. Now, you can start a build kit in draft mode, then review and edit it before you post it. If you need to, you can also disassemble a kit in draft mode. A new traceability feature in the inventory module lets you track an item with both the serial number and the lot number, which can help you find exactly what you need in less time.

To find out more about how your company can fully utilize the updates to Sage Intacct in 2020 Release 1, schedule a call with one of the experts at RSM today.

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