Highlights from the Sage Intacct 2022 Q4 Update

By - February 28, 2023

Sage Intacct never rests on its laurels. The developers behind this cloud-based financial management platform are committed to continually expanding and improving the software. Updates arrive every single quarter. And unlike the updates most other vendors offer, these are not small teaks and tune-ups. Each Sage Intacct update offers users new tools, smarter interfaces, and significant improvements, many of which are informed by user feedback. Great from the start, Sage Intacct continues to always get better at no added cost to users.

The quality of these updates is important for people considering Sage Intacct to understand. Likewise, the contents of these updates are important for people currently using Sage Intacct to know about so they can take full advantage of new capabilities. For both audiences, consider what Sage Intacct included in the Q4 update released in early December 2022.

Sage Intelligent Time Expands Internationally

With companies facing increasing pressure to be more efficient, transparent, and accountable, time-tracking becomes a top priority and also a major undertaking. Sage Intelligent Time makes that manageable using AI-powered time sheets – and with the latest release, this tool is available to more users. New integration with grant tracking tools gives nonprofits an optimized, audit-ready way to record where/how people spend their time. Performance enhancements improve job costing and bid forecasting for companies that compete in that way. Finally, Sage Intelligent Time is now available in Canada, South Africa, and Australia, helping more companies solve time tracking no matter where they operate. These updates are a prime example of a great tool evolving into something even better.

1099 E-Filing Becomes Automatic

As freelancing and various forms of remote work become more common, filing 1099s becomes a time-consuming and detail-intensive process for accountants. Sage Intacct updates often address the most urgent and unexpected accounting issues facing users, and the latest update is no different. Sage Intacct has partnered with Tax Bandit, an IRS-approved e-file provider, to both facilitate and streamline e-filing for 1099s and eliminate the need to manually print and mail these documents. Sage Intacct users maintain the 1099 records in their systems. Then, when it’s time to e-file, that data flows automatically into Tax Bandits, which catches any validation errors before submitting the forms to the IRS, states, and contract employees. With the latest Sage Intacct release, one of the most time and labor-intensive parts of tax prep now runs on autopilot.

SEPA File Format Now Supported

It has never been more important to streamline the payment process and facilitate the flow of funds to and from anywhere in the world. Sage Intacct addresses that imperative in the latest update by now supporting the SEPA bank account format used in France and Ireland. The process couldn’t be simpler: users enable the SEPA format and add banking details for Irish and French suppliers, then use the standard process to pay bills, create payment files, and update bank records. A major stumbling block to international commerce goes away in favor of an experience more standardized and synchronized between all countries.

AP Bill Automation Gets Even Better

Modern technology is transforming accounting. For example, the latest Sage Intacct update rolls out long-awaited AP bill automation capabilities that allow the entire billing life cycle to administer itself without needing much or any human input. The automation receives, scans, and then populates draft bills before matching them to vendors, coding accounts, and weeding out duplicates and exceptions. And it integrates with payment automation capabilities in Sage Intacct to redefine AP as we know it. All that a human has to do is approve the draft bill before it goes to payment, freeing up time they used to spend on AP for more valuable pursuits.

There’s never been a better time to run accounting on Sage Intacct – and never been a better solution for the pain points and priorities of modern accountants. See how it could serve your organization by contacting RSM.

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