Sage Intacct R4 is here! This release has several new updates for improved efficiency and streamlined processes that we know you'll want to take advantage of. Read some of the highlights below:
Company and Administration
Customer ID Now Accessible on Company Information Page: Previously, retrieving your customer ID might have involved sifting through past emails, but now you can find the customer id on the company information page (see screenshot below). You’ll also notice Sage changed the former ID field to “Company ID”
- go to Company > Setup > Configuration > Company.
Accounts Payable
Tax Solutions Enhancements: For businesses utilizing the Taxes application, AP Automation has enhanced its capabilities by auto-filling tax details. This advancement reduces the need for manual data entry when recording transaction taxes before posting.
Sage Intacct can now automatically generate draft bills when you email or upload bill documents. The system intelligently fills in the bill particulars by extracting information from the uploaded document and cross-referencing it with existing vendor records. Click here for more information.
Expanded Recipient Options for Automatic Vendor Payment Notifications: Your input has led to an improved feature in Sage Intacct. You are no longer restricted to notifying only the primary email address of a vendor upon automatic payment. With a small adjustment in settings, Sage Intacct can now also send these notifications to a secondary email address. For more information on the configuration, click here.
Simplified Vendor Reconciliation Report: The Vendor Reconciliation Report in Sage Intacct provides a clear view of your outstanding vendor balances and the corresponding payments and credits for each bill. Match sequences—alphabetical identifiers—track the associations between bills and their respective payments or credits.
Match sequences are assigned:
- When a payment or credit is applied to a bill, with all related payments sharing the same sequence.
- In lowercase for bills that are partially paid, indicating incomplete reconciliation.
- In uppercase once a bill is fully settled.
For credits (adjustments or advances), match sequences link the credit to its applied transactions, appearing in lowercase until the credit is fully utilized. The report can be filtered to show transactions based on their match status—unmatched, partially matched, or fully matched—or by specific match sequences.
Enhanced Bill Processing Features Now Available for Early Adopters: Our recent updates to the 'Pay bills' function now allow for high-volume bill processing capabilities, improved access to credit details, and enhanced sorting and filtering options for bill management.
These features are especially useful for customers who usually provide over 1,000 bills for a single vendor and consolidate payments, need to allocate vendor credits from several options, and want dynamic filtering for bill payment management. Find more details here.
NOTICE: Starting December 20, 2024, American Express payment services like Sage Intacct Check Delivery Services, American Express ACH Payment Service, and American Express Card Payment Service will no longer be available in Sage Intacct.
Accounts Receivable
Utilize the Customer Reconciliation Report within Sage Intacct: This report provides a snapshot of the customer's balance and details the associations between their payments, credits, and invoices. The report includes:
- Identification of credits and payments applied to specific invoices.
- Tracking of the application of individual credits across transactions.
- Analysis of transactions grouped by their match sequence.
- Overview of transactions that are either partially reconciled or still awaiting matching.
Enhanced AR Statements: Add a running balance to custom statement templates and view currency symbols with the amounts for added clarification to foreign currency statements.
NOTICE: Authorize.net and PayPal integrations will sunset in November 2025. For more information on other customer payment solutions, speak with your customer success manager.
Contracts
Service Periods: A new addition to contracts, service periods, automatically populate and transfer when generating an invoice. This provides clarity for exactly which period the customer is being billed for.
Manage Contracts more efficiently: New bulk actions on the Manage Schedules page allow for bulk clearing of revenue and expense recognition and bulk delivery of contract lines.
These bulk operations apply to multiple contracts simultaneously, forgoing the need for individual contract access. Sage Intacct automates these tasks by creating an offline bulk action run record. For more details on how to clear revenue or expense recognition, click here.
Renewal templates sync: Before, changes to an evergreen or renewal template did not automatically update the scheduled renewals. Now, the updates from templates are pushed to the contracts, saving ample time and energy.
Fixed Assets Management
Posting dates override: Choose a customer posting date from the Post Description page that will override the scheduled posting dates. Customers can find this feature useful when the original date is in a closed period but the post needs to be in an open period.
Allocations for assets: before, you had to manually edit journal entries and go to the General Ledger to assign the allocation. Thos often resulted in inconsistencies between the GL and FAM systems. In this new release, Sage has announced that allocations can now be assigned to the asset and automatically populated to any journal entry.
Customize the depreciation rate applied to assets: Use two new methods, Custom declining balance with true-up (CDBT) and Custom declining balance without true-up (CDB), to comply with regulations and provide greater flexibility through customized rates applied to assets.
General Ledger
GL Outlier Detection setup made easy: Compare unusual transactions to historical patterns with this machine learning tool. Setup is easy—activate it on the Configure AI service page by checking the relevant boxes.
For effective operation, the system requires a minimum of one month of recent data (not older than two years) and over 1,000 General Ledger journal entries. Once these conditions are met, the model is ready within 24 to 48 hours. The detection's effectiveness increases with more data, ideally with journals having at least 100 transactions.
Tax
Enhancements for tax submission: There are two different filing states to choose from, Reporting- which will be included in submission calculations, and Not reporting – where they will be excluded.
- Go to Taxes > Setup > Details.
- Enter the tax detail information. Keep in mind that the Tax filing field will only appear after you have selected a Tax solution.
- Under Tax filing, select Reporting or Not reporting.
Tax submission workflow for Early Adopters: The new tax submission workflow simplifies the tax filing process with a custom solution. Create a submission, monitor the relevant transactions for a chosen period, generate reports for the needed data, and after filing, mark the transactions as filed. Join the early adopter program to gain access.
Tax schedule override for Purchasing and Order Entry: Companies: using Advanced Tax or VAT solutions now have the option to override default tax schedules on individual transaction line items. This feature is useful for transactions involving multiple tax jurisdictions or when a specific tax schedule map isn't available. Users can select an alternative tax schedule from a dropdown, which will automatically update the tax calculations; however, manual recalculation is required for subtotals. This functionality is exclusive to users of the specified tax systems.
Get ready for 1099’s! customers can join our year-end webinar for more information on 1099’s and prepping for year-end. Monitor your inbox for more information on registering!
Time & Expense
New automated workflow for employee expense submissions: employees can now email receipts directly to Sage Intacct from any device. AI assists with coding, and ML (Machine Learning) adapts to streamline future submissions. Join the Early Adopter program for an early look at this feature.
User Experience
List Enhancements! -In Beta: personalize your list views, leverage advanced filters, manage list and record details side-by-side, and much more by turning on the Lists beta interface. For more information on this functionality, click here.
Full list of Updated user interface changes: Click here.
Customers: Join our Intacct R4 webinar for a deep dive into the release and get your questions answered live on Thursday, November 21st at 3pm EST! Check your inbox for more information.
