2021 R3 Release Highlights from Sage Intacct
The following post will highlight the major features that Sage Intacct has to offer in their 2021 R3 release. This release includes best-in-class financial improvements and enhancements, deep cross-industry functionality, and several best-in-class cloud platform updates that were driven by customer ideas. To view a comprehensive list of changes related to this latest release, visit the Sage Intacct website and select all changes.
Improved GL Outlier Detection
With this improvement, users can expect an optimized GL approval process that efficiently calls attention to flagged entries. Features such as At a Glance Visuals for Outlier Types (such as coding, amount, multiple) show why entries were flagged while other features such as User-Tailored Optimized Configurations identify what needs to be flagged. This will be a huge productivity boost for controllers in complex organizations.
Enhanced Bank Feed Matching Rules: Cash Management
Sage continues to invest in making bank management more efficient, by leveraging the automation of bank feed matching rules amongst bank and Intacct transactions in order to reduce reconciliation time and effort. This enhancement is threefold, it includes Expanded Criteria Operators for text and day comparison, Extended Transaction Grouping Options based on document numbers and posting periods, and Rule Orders that can be applied within rule sets.
Prebuilt Canadian Tax Support:
Intacct now provides Prebuilt Canadian Sales Tax Support for PST, QST, GST, and HST. This includes Automatic Tax Determination in order entry and purchasing, Automatic Tax Calculation based on the selected tax rate for the following accounts: Accounts Receivable, Accounts Payable, Cash Management, Time & Expenses, General Ledger and Tax Information Centralization that enables users to easily file internal taxes based on information found using Intacct’s custom reporting tools.
Enhanced Contract Billing and Reporting
Sage continues to invest in supporting subscription-based business practices through increased billing flexibility. The Committed Quantity Consumption Billing feature streamlines businesses based on customers’ consumption of contracted quantities. Equally, Flexible Invoice Generation aggregates billable charges by customers bill-to contract, customer or project. Lastly, the Interactive Custom Report Writer Prebuilt Reports feature provides insight into a user’s business.
Inventory in Transit Warehouse Transfers
The In-Transit Type of Warehouse Transfer allows users who manage inventory to accurately track inventory as it moves between warehouses. Instead of immediately transferring on-hand inventory from one warehouse to another, this feature allows users to track the stages in between. With this feature, users gain enhanced inventory visibility of the stages that exist within the transfer out (remove on hand from warehouse and add in transit) of warehouse and transfer in (move from in transit to on hand at the warehouse) warehouse process. This provides more accuracy on the inventory availability and improved asset valuation between locations.
Construction Project Change Orders (Early Adopter)
A new Project Change Orders functionality will be implemented with the objective of streamlining management, visibility, and billing of multiple change requests. With Project Change Order and Standard Transactions Definitions, users can gain efficiencies in change management and report-building. Additionally, users can capture, and record planned and unexpected project changes and track how those changes affect original and revised quantities and amounts throughout the project life cycle. With this feature, Sage is continuously demonstrating why they are a leader in the Professional Services Automation (PSA) world.
For the detailed release notes: Sage Intacct 2021 R3 Release Notes