Sage Intacct Release 2 for 2020 is now live and we are here to give you an overview of the new features or enhancements you rely on to make your job easier when it's time to pay bills, inter-entity setup and management, as well as budgeting and planning. These are just a handful of what's new in the 2020 Sage Intacct Release 2. Let's take a closer look!
Enhancements to Filters on Pay Bills Screen
Get insight into how many bills fit your applied filter criteria, and how many of those bills appear on the Pay Bills page.
For example, say you apply a filter for vendors A-L. The system displays the maximum amount of 1,000 bills with a message stating that there are an additional 500 bills to load. Process 500 payments, then re-apply the filter to load the rest of the bills. In this way, for each bill you pay, you make room for a new bill to load.
Now, when you apply an advanced filter for specific bill line items, the system returns the entire bill—not just the individual line item—so you can view everything in context. For example, say you want to filter for line items tagged to a specific department or location.
- On the Advanced filters page, in the Drill-down filters section, select Bill item for the Object and select the department for which you want to filter. When you apply the filter, the system returns the entire bill, not just the individual line item tagged with that dimension.
The option ”Automatically display all ready-to-pay bills on the Pay Bills page” on the Configure Accounts Payable screen is ideal for companies who have a small number of unpaid AP bills and want to see them all at a quick glance without the need for filtering. (Note: This option is off by default and can only be turned on by a Business User with admin privileges who has the permissions to pay bills.)
We recently hosted a Webinar for our AcctTwo Client community, which you can watch on demand here.
Choose Your Dimension Values in Your Budget Structure
Now, not only can you choose which dimensions you want to import to structure your budget, but you can choose the dimension values as well. This allows you to focus only on the data that you want and need for your budget. For instance, you may have a lot of projects, but only some might be relevant for next year’s budget.
Let’s say your budget structure only includes the Environmental Impact and PEPCO project values.
This allows you to perform Budget vs. Actual analysis on specific dimension (in this case, Project) values.
Sage Intacct Order Entry - Advanced Salesforce Integration
Sage Intacct has enhanced the way Order Entry records can be synced to Salesforce, eliminating the pop-up Sage Intacct window traditionally used to create transactions in Sage Intacct from Salesforce opportunities. Order Entry Sync automates the creation of sales transactions in Sage Intacct upon the completion of the sales workflow in Salesforce.
You can add a new ”Sync to Intacct” button to the Salesforce Opportunity that when clicked, sends and receives information from Intacct based on field mappings you created, or you can use the Salesforce Process Builder to respond to criteria on an Opportunity that when met, automatically creates a sales document in Salesforce based on your field mappings.
- For example, you can use direct Order Entry sync to automatically sync an Opportunity to a Sales Invoice when the Opportunity is marked Closed Won. With direct Order Entry sync, you can now use the Salesforce Process Builder to add a process to start syncing Opportunities to Sage Intacct when the state changes on the Opportunity.
- Or perhaps you have a system that creates hundreds of opportunities daily, and you want to sync them to Sage Intacct without having to post each of them individually. With direct Order Entry sync, you could again use the Salesforce Process Builder, as well as triggers or the Intacct mass sync tool, to bulk sync these opportunities into Sage Intacct; so that the appropriate transactions are created there.
Purchasing - Custom Email Templates
Assign those email templates to specific Purchasing transaction definitions and/or vendors. The vendor's email template always prevails over the transaction definition’s email template.
- For example, say you assign Email Template 1 to all Purchase Orders, but you assign Email Template 2 specifically to the vendor “Staples”: Every time you send an email for a Purchase Order, Sage Intacct uses Email template 1 to generate the email; except for when that Purchase Order is going to “Staples”; in which case Email Template 2 will be used.
Centralized Inter-Entity Account Setup
Before, when you set up inter-entity transaction (IET) accounts for a multi-entity company, you configured each account on the individual entity page. Now, you can set up all of your inter-entity relationships on one page.
The New Bank Reconciliation and the Bank Feeds
The Bank Feeds functionality has been enhanced to ignore zero-dollar transactions and transactions that are missing a check number during the reconciliation. These unmatched transactions can be ignored individually or in-bulk. Transactions that were ignored by mistake can be “un-ignored” on the Bank Transactions page.
The Classic Bank Reconciliation has officially been retired. The new Bank Feeds functionality allows you to download your banking information directly into Sage Intacct and save time on reconciling. To enable bank feeds, go to Company > Admin > Subscriptions > Sage Cloud Services.
Other Notable Features and Enhancements
- You can now recall a Journal Entry before it’s approved.
- Recall journal entries directly from the View Transactions journal list without having to open journal entries one at a time.
- There's a Recall link at the right of the journal entry in this list, next to the Post and Duplicate links.
- When you recall an un-posted transaction, the transaction reverts to the Draft state so that you can work on it before submitting it for approval again.
- Global Search is now available in the Action User Interface.
- The Classic Interface is officially being retired.
- There are new user preferences whereby after converting a Purchasing or Order Entry Transaction, you can see a list of the transactions that it’s been converted from and/or the one(s) it can convert to.
- When you create an AP bill that nets to zero, any inline credits created across locations are automatically applied.
- Sage Intacct has extended their cloud storage functionality so you can export reports and data to your OneDrive/Office365 account.
- Error messages in Sage Intacct now contain Support ID’s that provide valuable information about the error for our support team.
AcctTwo is focused on delivering the future of finance and accounting to its customers. AcctTwo has three main solutions – Cloud Accounting Software, Managed Accounting Services, and Software Development, all built around Sage Intacct’s best-in-class financial applications. Our dedicated team of more than 100 ERP and accounting experts has helped nearly 1,000 organizations in the SaaS, Nonprofit, Faith-Based, and Oil & Gas industries optimize finance and accounting through software implementations, accounting outsourcing, and consulting. AcctTwo has been recognized as the Sage Intacct Partner of the Year from 2014 – 2019 and by our customers as a leader in overall satisfaction and popularity through their reviews on G2.
Please contact us to learn about all that we can do for your accounting and finance department.