All You Need to Know about Sage Intacct R1 2023

Sage Intacct R1 2023 is here! Here are 11 features that Sage as added to and updated in this release.

Company and Administration

 Updates 

1. Permissions have been changed for Projects
2. Two new reports have been added to simplify tracking and managing user permissions
3. The migration from Single-Entity companies to Multi-Entity is continuing. If you are a Single-Entity company, RKL will be with you through this migration

Accounts Payable

Added

1. Automated bill creation service is now available for everyone

Updates

1. Enhancements have been made to Vendor Payments powered by CSI: Vendor Payments now support setting up an additional email address for remittances. For companies new to the service, enjoy a streamlined setup experience with easy access to help topics.
2. You can now restrict available credits to a date range using the new Pay bills filter.
3. To reduce discrepancies in your transactional data, the option to edit summaries and payment summaries is now available only for manual summaries.

Accounts Receivable

Added

1. A new payment object for reporting so you can run a centralized and detailed report for all AR payment transactions.

 Updated

1. To reduce discrepancies in your transactional data, the option to edit summaries and payment summaries is now available only for manual summaries.

Cash Management

Added

1. The service provider, Nordigen, connects your French bank accounts

Updated

1. Use transaction templates to capture VAT and GST in transactions created for reconciliation.

General Ledger

Added

1. Choose how the Trial balance report shows opening and closing balances: A checkbox has been added that lets you choose to show opening and closing balances as debits and credits combined or as debits and credits separately.

Training

Added

1. Sage University is here!: All your training needs are now at Sage University. Learn about the benefits of Sage University and what you need to do to access your training.
2. New training courses and videos!

User Experience

Updated

1. You can turn on the Lists beta interface to see how you can personalize your list views, leverage advanced filters, manage list and record details side-by-side, and much more. This functionality is available now on the Vendors list.

Projects or Grants

Added

1. You can now see payment status and approval status before creating transactions for project invoices.

Updated

1. Assign Order Entry (OE) permissions to your project manager users so they can add, edit, and delete Order Entry transactions (Quote and Order template types).

Construction

Added

1. Post Construction project contract entries to GL budgets On Construction project contract lines, post line entries to General Ledger (GL) budgets and change request entries. Budget entries post to the GL budget account and appear on financial reports.
2. Use Construction payroll functionality to automate and simplify payroll tasks associated with Construction projects.
3. You can release and include billed retainage with your regular project contract billing when you generate project contract invoices.

Updated

1. See project contract billing and payment details from your project contract: View invoices, retainage releases, and payments for project contract and project contract lines directly from the contract Billing details tab.

Contracts

Added

1. Model different billing plans for the contract term without affecting the sub-ledger.

Updated

1. Include fixed charges and variable usage charges in open-ended subscriptions.

Taxes

Added

1. You can submit VAT taxes manually or electronically for South African multi-tax entities with our new electronic filing workflow.

For an more in-depth overview of the release and to ask questions, join us on March 7th at 3pm for our Sage Intacct R1 2023: All You Need to Know live webinar!