Article written by Britiany Tompkins
Sage Intacct 2020 Release 3 is available and packed with new features and enhancements to functionality in credit card, general ledger, inventory, user experience and more. It is always exciting to witness the ongoing investments Sage Intacct makes in its product and customers, and I have listed a brief overview of some of the updates you will see in Release 3.
As always, if you have any questions about the enhancements, or want to learn how to take advantage of these improvements in your business—contact me personally or any of us on the BPM Sage Intacct team. We will help you navigate the changes and ensure you are leveraging your technology to its maximum potential.
Sage Intacct 2020 Release 3 Enhancements
Credit card feeds and reconciliation: Sage Intacct is improved the credit card reconciliation process in Cash Management to handle large volumes of transactions much easier. You will notice the new Credit Card Reconciliation feature is similar to the Bank Reconciliation feature. Simply connect to Sage Cloud Services and your credit card transactions are matched automatically to what you have entered into the system so it is faster, easier and intuitive.
Revaluation automation: When you run GL, AP and AR Revaluation reports in Release 3, you can now automatically generate your unrealized gain or loss journal entry. Run them offline or live and get an option to automatically create the journal entry for unrealized gain or loss. For added peace of mind, the journal entry will be in a draft state upon entry, so it can be reviewed before posting.
Streamlined process for recurring journal entry: If you have several recurring entries, you will love the ability in Release 3 to generate a recurring entry from any directly posted journal entry. Select your journal entry and your basic information is prepopulated into the recurring journal entry.
Support for cross-entity, multi-currency: Streamline how you can gather balances and apply allocation formulas, which automates generation of entries. This not only makes it easier to create allocations but establishes a more consistent process for applying your allocation methodology.
Advanced bin tracking: Manufacturers, distributors and any company managing inventory will appreciate this enhancement to efficiency and accuracy in Release 3. Now, instead of identifying items by aisles, rows, bins—bins are unique across all your warehouses with new bin attributes, so you can pinpoint the specific location of items. This feature alone will save you many hours and errors.
Navigation for multi-entity companies: With Release 3, you can quickly use the entity picker in any entity tab in your browser to select your top level.
Time out notifications: Nobody likes to risk losing all your hard work! A welcome improvement in Release 3 is the ability to receive notification alerts to save your work, continue working or sign back in. Browsers with notification capabilities can also alert you on your desktop whether you are working in your company or any other application, so you can take action before you are ever timed out.
Interactive Custom Report Writer (ICRW)
Account groups for custom reports: If you use account groups in your financial reports, now you can do it in your customer reports. Wherever you can select accounts, you can now select account groups greatly simplifying the ability to create repeatable account selections, do roll ups and tie out reports—no matter where they are built.
Combine reporting areas: This added feature enables you to report across workflows and business processes, so you get maximum insights within Sage Intacct with minimal effort. At the end of the day, this will help you reduce your reliance on outside spreadsheets, be more productive and improve reporting accuracy.
Want to learn about all the Sage Intacct Release 3 enhancements?
This is just a partial list of improvements in Sage Intacct Release 3. There are several additional enhancements I just could not fit into this article but would be happy to share with you. The BPM Sage Intacct team is here to help.
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