Sage Intacct 2022 Release 4 Highlights

Sage Intacct continuously improves its best-in-class cloud platform to bring you financial enhancements, cross-industry functionalities, and automation updates. Our Sage expert, Ismahen, selected the following product features updates as the ones to watch for in this third new release of 2022:

• Financial Enhancements
  1. Statistical accounts and grid entry
  2. Asset lease accounting automation
  3. Sage Intacct Payroll
• Cross-Industry Functionalities
  1. Sage Intelligent Time enhancements
  2. Sage Intacct Construction Payroll
  3. Sage Estimating integration for Construction
• Best-In-Class Cloud Platform
  1. 1099 e-filing
  2. Bank file payments for France and Ireland
  3. Compliance documentation
  4. Embedded training

As always, to view the complete and detailed list of the updates related to this release, visit the Sage Intacct website and select All Changes.

Financial Enhancements

Statistical accounts and grid entry in Sage Intacct Planning (SIP)

Let me introduce you to two of the most requested Sage Intacct Planning features:

• The Grid entry: it provides the look and feel of a spreadsheet, so you can do the following:
  • Easily enter and adjust your data to a specific cell.
  • Copy/Paste from Excel directly into Grid
  • Toggle between the traditional form view and grid view
• The Statistical account: offers the ability to budget, control, and manage non-financial business metrics that can help your company strategy and operational work.

Benefits: Using statistical accounts in your calculations and reports provides valuable information about your company that would otherwise be invisible.

Asset Lease Accounting Automation

Sage Intacct Lease Accounting simplifies the lease accounting process by allowing users to capture the lease master data, after which daily payment, lease liability, and right-of-use asset depreciation schedules are generated based on the selected accounting treatment for each lease. These schedules automatically generate the initial measurement entries and subsequent periodic entries in the General Ledger.

Benefits: Increase the productivity of your employees.

Early adopter features are also provided, and that will allow you to test the features in advance.

Sage Intacct Payroll

Sage Intacct Payroll powered by ADP offers a self-service tool with an intuitive mobile experience for your employees. You can save time, eliminate errors and duplicate entries. 

Use the payroll functionality to:

• Pay your employees with total reliability and avoid missed deadlines, errors, and fines with full-service payroll, integrated tax management, and compliance capabilities.
• Leverage your systems with seamless, out-of-the-box integration.
• Generate in-depth information on labor costs, benefits utilization, compensation, and attrition to make more strategic business decisions.
• Save time by leveraging powerful employee self-service and remote processing capabilities.
• Start with payroll and add as many or as few additional HR solutions as you need without using any separate vendors. Your options include recruiting, onboarding, benefits administration, and more.

Cross-Industry Functionality

Sage Intelligent Time Enhancements

Stay focused on delivery, not on time tracking, with this new AI feature by connecting sources to track time like your calendar, email or a time assistant.

Benefits

• Focus on project completion rather than time entry.
• Automate the capture of accountable time, with up-to-the-minute accuracy.
• Receive e-reports of time spent to meet single audit requirements.
• Maintain the same user-defined dimensions and user-based roles that you have established in Sage Intacct for your organization.

Sage Intacct Construction Payroll

Construction is a massive industry, this new solution will help go through complex tasks and projects.

Use the payroll functionality to:

• Easily manage self-performed business payrolls.
• Automate challenging payroll operations and journal entry creation.
• Streamline certified payroll reporting in all states and U.S. territories
• Limit cost overruns and to enhance the accuracy of future estimates with timely visibility into project workforce costs.
• Leverage the power of your data to create detailed reports.
• Meet the payroll management needs of union and non-union organizations.

The solution is deployed only in US states for now. Early adopter features are also provided, and that will allow you to test the features in advance.

Sage Estimating Integration for Construction

The most advanced estimation solution available now integrates with Sage Intacct.

• You can now send an estimate directly to sage Intacct construction project as a project estimate
• Estimating includes a familiar spreadsheet interface with powerful features that help you calculate estimates efficiently.
• Pick items from existing industry-standard databases, your own standard database, or unique items that you set up “on demand.
• Pull single assemblies or create sophisticated models with a full set of elements and assemblies, so you can pull complete structures at once.
• Generate variations to illustrate the effects of different options to your clients, helping them balance more luxurious finishes with their budget.
• Export estimates to Excel for use in many different ways.
• Assign add-ons to project estimate entries when you export an estimate to Sage Intacct Construction.
• Create a wide variety of reports using Crystal Reports (with built-in features).

And much more…

Best-in-Class Cloud Platform

1099 e-filing

Sage Intacct 2022 Release 4 includes 1099 e-filing capabilities.

Eliminate manual steps of printing 1099 paper forms or downloading and uploading tax information

Bank file payments for France and Ireland

Pay your vendors in France and Ireland now using SEPA format

• Setup Bank Accounts

Enable bank file payments using SEPA format for bank account in France or Ireland

• Setup Vendors/Suppliers

Enable bank file payments and add banking details for Vendors/Suppliers in France or Ireland

• Generate and Upload Payment Files

Pay bills, generate bank payment files in SEPA format, and upload to your bank account

Compliance documentation

In this release, the Help Center provides a new section on Compliance.

In order to better understand audit considerations and configuration options that ensure trusted financial reporting.

Embedded training

As a first-time user, getting comfortable with a new accounting system can seem a bit overwhelming. Sage Intacct offers new features to assist you:

A welcome tour: a guide to assist you navigate through help, training and videos

Feature walk-throughs: Guided tours of the functionalities for new users.

More Learning & Help

Sage Intacct 2022 Release 4 Next Steps

We’ve summarized for you the new features and enhancements of the Sage Intacct R4 2022 live on November 18, 2022. The updates are automatic and require no action on your part.

As always, if you have any questions about this release or Sage Intacct, talk to your administrator – and we’ll help you out.

If you are interested in digging deeper into the new functionalities, here are a few resources:

• Sage Intacct 2022 R4 detailed release notes
• Watch: Sage Intacct 2022 R4 Release Highlights Video