Significant Updates in Sage Intacct R1 2022 Release
In Sage Intacct’s R1 2022, released on February 18, 2022, there were many exciting features that further elevate the modules and tools Sage Intacct users currently use. Below, we’ll cover some of R1’s highlights and deepened functionality in the Nonprofit, Distribution, Construction industries.
Powering your Multi-Entity Management
A few significant improvements in this Release give multi-entity users even more control over their business. Native billing scanning eliminates the need to create multiple accounts on multiple systems. Processing bills for any of your locations or entities can all be done within your Sage Intacct solution, and financial data is immediately recorded into your multidimensional dashboards.
General Ledger Made Even Easier
Sage Intacct’s AI-powered GL Outlier Detection, with ability to detect outlier figures in journal entries in your General Ledger, has also improved. This tool’s outlier detection accuracy has increased to help users reach accurate and complete General Ledgers even quicker.
Making corrections in your General Ledger is now doable with a designated ‘Reclassify’ button, which allows you to make edits to all fields of each entry and save it with one click. Now you can make corrections as you go through GL approvals instead of having to send them back to your team.
Furthermore, you can now create and match GL transactions to your bank data. Simply define the criteria for incoming bank data and create matching GL transactions in draft or posted state, depending on if you’d like to reuse them as templates.
Extended Usability
Several smaller features have been added to Sage Intacct that make the solution even more intuitive. A new notation functionality allows users to add qualitative insights as needed into financial statements. These notations can be added to any column in your Sage Intacct financial reports, and when a notation is added, the spot is outlined, and clicking on it will reveal the hidden notation.
Several smaller features have been added to Sage Intacct that make the solution even more intuitive. A new notation functionality allows users to add qualitative insights as needed into financial statements. These notations can be added to any column in your Sage Intacct financial reports, and when a notation is added, the spot is outlined, and clicking on it will reveal the hidden notation.
Other added features include:
- Bulk delete function;
- Hierarchical view options for your dashboards;
- Expanded import support for AR payments using CSV templates; and
- Increased personalization for fields.
Industry-Specific Functionality
Sage Intacct R1 2022 includes several new features that make processes even easier for specific types of businesses:
Nonprofit
- Grant Tracking & Billing Projects module enables grant fields, maintains restriction details, and brings further accuracy and uniformity to Federal Grant detail tracking.
Construction
- Document templates made for easier print and email project change orders.
- Multicurrency change orders for purchasing and order management.
- Improved conversion workflow management for tracking your invoices, bills, and receivers back to their original source.
Distribution
- Expanded Item screen tabs that show details for Inventory Totals.
- Greater visibility into On Hold, On Order, and In Transit details in the Inquiry screen tabs.
Sage Intacct is the only cloud-based software providing end-to-end native AP automation from bill to reconciliation. With quarterly updates, Sage Intacct is always improving its functionality to meet the pain points of all types of businesses.