Sage Intacct 2021 Release 4 Highlights

Sage Intacct 2021 R4 Release Image

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The following post will highlight the major features that Sage Intacct has to offer in their 2021 Q4 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.

Building on already impressive analytics and accounting tools, Sage Intacct will upgrade their features for the 2021 Release 4 with the following notable enhancements:

  1. Best-in-class financials
    1. AR/AP usability & visibility enhancements
    2. Electronic payments multi-entity setup
    3. International tax improvements
  2. Deep cross-industry functionality
    1. Nonprofit restriction release improvements
    2. Inventory quantity available calculation and visibility
    3. Construction change management enhancements
  3. Best-in-class cloud platform
    1. Financial report writer usability
    2. New list user experience (beta)
    3. Expanded on-demand training courses

 

We’ve chosen to highlight the features which we think will have the greatest impact on your financial and Sage Intacct platform experience. To view a comprehensive list of changes related to this latest release, visit the Sage Intacct website and select all changes.

Best-In-Class Financials

AR/AP Usability & Visibility Enhancements

The Sage Intacct 2021 Release 4 includes enhancements to help manage AR and AP processes more efficiently.

To gain additional insight into how transactions are posted to General Ledger (GL), the recently released Sage Intacct has rolled out the GL posting details tab on transaction pages. This functionality provides users the ability to easily validate transactions posted to the GL without having to run the GL report.

In the R4, the Posting Details tab now appears on the below additional transaction pages highlighted below:

  • Bills
  • Adjustments
  • Posted payment

 

Electronic payments multi-entity setup – Cash management (Early adopter)

Easily enroll multiple entities for payment services through CSI.

The Continuation of Early Adopter Program for Vendor Payments

Sage Intacct has added enhancements to improve users’ payment experience via the Early Adopter program, Sage Intacct’s new electronic payments service, Vendor Payments powered by CSI.

When your vendors accept virtual card payments, you earn a percentage of those payments back in rebates. You can now specify the account to which you want CSI to deposit your earned rebates.

CSI sends you a spending report on the 25th of each month. If you have a rebate balance, it’s deposited into your rebate account through ACH about two days later.

Checking Account Information - Rebate account

International Tax Improvements

The Q4 release brings greater flexibility around transactions locked for tax submissions. Users can now edit non-accounting fields in Order Entry and Purchasing after those transactions have been included in a tax submission.

How does this work?

In Order Entry or Purchasing, open the applicable transaction list, locate the desired transaction, and click Edit. You can edit any non-accounting field. Tax-related fields are still locked to preserve the integrity of the tax submission data.

Best-in-class cloud platform

Financial Report Writer Usability – Schedule Reports on GL Close

Sage is making leaps of improvements to eliminate steps from the close process. To further automate the close, users can configure Sage Intacct to run scheduled reports when the close is complete.

By running the report automatically, users can be sure that anyone waiting for the report—such as controllers —can expect it to generate it as soon as the close activity has occurred, without having to wait for a scheduled report time.

Video: Financial Reporting Enhancements

The Future in Lists (Limited beta)

Sage’s new lists feature is almost here. It is in limited beta now and will soon be expanded to more users. Key enhancements help you drill down to quickly view only the required data. If you want to repeat this process regularly, you can save the same slicing and dicing every time you open it.

Simple and advanced filtering

You can do simple filtering from any column or use more advanced filtering that works across columns. Each time you open a view, it displays all data that matches the filtering, sorting, and display options set up in the standard view. You can even save what you filter on into a custom view for repeated use.

For example, if you save a view that displays payment priority for your vendors, you might want to add the advanced filter criteria of Total Due to get the full picture of not only the urgency per vendor but the amount due. On the Total Due column, you can then filter for amounts due within a certain range. You just combined advanced filtering with simple column filtering and, if you want to make that filtering part of the view, just save the view and all the processing that was in the original view is now combined with the additional filtering for the next time you want to use the view.

And so much more

There are a lot more improvements related to the lists, including the ability to split the view to see the detail associated with a specific row.

With this R4 release, these enhancements are available in a limited beta fashion, but shortly after R4, all users will be able to try them out on their companies’ vendors list.

Wait and watch for it!

Sage Intacct 2021 Release 4 Next Steps

When will all these features take effect? Some features in the 2021 Q4 release apply to all users and immediately took effect when the release went live on November 12. These updates are automatic, require no action on your part, and include significant new features and product enhancements. If you have any questions pertaining to this release or Sage Intacct, talk to your administrator – and we’ll help you out.

For the detailed release notes: Sage Intacct 2021 R4 Release Notes

Watch: Sage Intacct 2021 R4 Release Highlights Video

Tour the release with VP of Product Management, Julie Adams.

Abdul Azize Hossen

Consultant
Abdul Azize has experience in Digital Transformation and Financial Services as a Business Analyst and Functional Consultant implementing ERP, CRM and Financial Systems for Private and Public Sector business models working with various clients globally. Abdul Azize is multi-product certified and possesses cross-skills that creates opportunities to take new approaches to problems with new perspectives. A strong Bachelor of Science degree in Economics, Finance and Banking with First-Class Honours from the University of Portsmouth, UK has enabled Abdul Azize to…

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