What’s New in Sage Intacct 2022 R3

Sage Intacct 2022 Release 3 is now available.

This latest version is packed with new features that streamline vendor payments, enhance GL allocations, improve construction processes, expanded on the collection of pre-built dashboards, enhances your business intelligence reporting, and much more.

Here’s a look at what’s new in Sage Intacct 2022 R3.

More Flexibility with Dynamic Allocations

An idea that came from Sage Intacct customer feedback, Dynamic Allocations in Version 2022 R3 now supports Per Dimension Value Allocations for Employee and Project. This is useful in cases where you may need to allocate rent per employee or allocate software costs across projects, for example.

In addition, the latest release of Sage Intacct adds the ability for restricted users to take advantage of dynamic allocations to create and manage entity-level allocations (while preserving existing entity restrictions for those users).

Accounts Payable and Receivable Enhancements

This release introduces significant improvements to Accounts Payable Advances functionality as follows:

• Improved multi-currency support
• Enhanced user interface and new compact layout
• Better status tracking (i.e. draft, partially applied, etc.)
• Easier process control and workflow
• List screen improvements

In addition, ease of use enhancements rolled out in Accounts Receivable include:

• Reduced clicks and streamlined handling of single invoice customers
• Better visibility into auto-apply settings
• New Additional Information section with more detail
• Various enhancements to invoices and statements
• Clearer labels and more organized arrangement of fields in Receive Payments screen

Streamlined Electronic Vendor Payments

Sage Intacct 2022 R3 further enhances the Electronic Vendor Payments functionality (Powered by CSI – a 3^rd add-on). More specifically, vendor self-enrollment is now faster and easier than ever with enrollment emails, convenient links for setup, available payment preferences for your vendors to choose from, and ongoing discrepancy management tools.

In addition, more tools for exception management have been added. It’s now easier to resend detailed payment remittance emails individually or in bulk, speed up virtual card refund requests which can now be processed directly from the posted payments screen, and more easily troubleshoot payment errors with convenient links to notification IDs and more details that are built into the reports.

Construction Enhancements

Sage Intacct 2022 R3 introduces a variety of enhancements for construction customers.

Project Contracts

You can now import construction project contracts and then import project contract lines with their corresponding entries. You can also import multiple project contracts at the same time. In addition, it’s often faster and easier to add a new construction project by duplicating an existing one – functionality that is now available in Version 2022 R3.

Project Management

The projects screen has been optimized to display contact, address, and status information on the main projects tab, putting key information about construction projects at your fingertips.

Purchasing Workflow

In previous releases, you could only link downstream documents converted from the original Purchasing transaction definition (primary document) after setting the primary document option on that transaction definition. But with Sage Intacct 2022 R3, you can now link downstream documents created before the primary document option was set on the transaction definition which streamlines your purchasing workflow.

More Pre-Built Dashboards

Based on extensive customer research, Sage Intacct 2022 R3 introduces more out-of-the-box dashboards designed for roles like AP and AR Managers, CFOs, Controllers, and Department Managers. More specifically, 6 new role-based dashboards help you get the information you need as efficiently and quickly as possible.

In addition, new dashboards have been created for software subscription-based businesses (SaaS). These 7 new SaaS Intelligence dashboards deliver easy access to key performance indicators based on metrics such as growth, customer retention, unit economics, product, and more.

Other New Features Added

Company and Administration

• New and updated permissions – changed permissions for Accounts Payable and Time and Expenses.
• Manage sandboxes – Users can now add, delete, and manage your company’s sandboxes.
• Migrate to multi-entity – migrating select sing entity companies to multi-entity companies with a top level. Will you be among the first to upgrade?
• Mask vendor data in audit trail – an option to mask vendor bank details in the audit trail was added.
• Add a custom currency – You can now enable custom currencies for your company that you can use to run reports on historical data with historical exchange rates. You can also add a currency that is not included in the ISO currency code list.

Cash Management

• Auto-create even more transactions for reconciliation – Use creation rules to automatically create credit card transactions and save time during reconciliation.
• Reconciliation transaction templates require IDs – Improve identification and organization of these templates by creating an ID.

Contracts

• Automatic invoice runs – Save time by using invoice policies to automatically schedule contract invoice runs.
• Flexible contract renewals – You can now renew a termed contract to an evergreen contract.

General Ledger

• Per-project and Per-employee in dynamic allocations – enhanced dynamic allocations to give you a per-dimension value in the setup.

Inventory Control

• Populate subtotal dimension values – Use configuration options to control how to set dimension values at the top level in a multi-entity environment.
• Simple Tax-Distribute entity-level subtotals – Use a configuration option to distribute the subtotals for transactions created at the entity level.

Nonprofit

• Introducing Sage Intacct Mateo – Sage Intacct Mateo helps Diocesan organizations streamline and optimize their savings and loan program.

Order Entry

• Include serial, lot, and expiration tracking details in sales invoices and returns – Learn more about new merge fields. 
• Populate subtotal dimension values – Use configuration options to control how to set dimension values at the top level in a multi-entity environment.
• Simple Tax-Distribute entity-level subtotals – Use a configuration option to distribute the subtotals for transactions created at the entity level. 

Platform and Customization Services

• Platform triggers now generally available – Use platform triggers with both standard and custom objects to automate tasks.

Reporting – Advanced

• New time options have been added to ICRW and IVE – It’s now easier to add custom time calculation columns for the comparative analysis of data over select time periods.
• New objects for ICRW and IVE – Subscribers to Sage Intacct ICRW and IVE have a new Construction reporting area. 
• New objects for CRW – New objects expand reporting capabilities for Accounts Payable and Construction.

Taxes

• Change Avalara AvaTax company code – Administrators can change and update the assigned Avalara company code for an entity.
• Set default tax solutions – Assign a default tax solution to a customer or vendor to be used when you create transactions.

User Experience

• The future in lists – Get key improvements to more easily drill down to view required data. Learn more about new list features.
• Learn Intacct as you use it – New page tours show key concepts for basic accounting tasks to help new users get up and running.
• Updated user interface labels – Sage Intacct updated labels in Accounts Payable, General Ledger, Inventory Control, Projects, and Time and Expenses to improve clarity, accuracy, and consistency. Learn more about label changes.

Upgrading to Sage Intacct 2022 R3

This article only covers some highlights of the new release. But Sage Intacct 2022 R3 also boasts new features in other areas such as Bank Reconciliation, Subscription Billing, Canadian Tax Management, Interactive Custom Report Writer, Nonprofit Management, and more.

Be sure to contact us to request a copy of the fully-detailed release notes or if you have questions about upgrading to the latest version.

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