What’s New in Sage Intacct 2023 R2?

What’s New in Sage Intacct 2023 R2

Sage Intacct 2023 Release 2 (R2) is now available and boasts new features that focus on three major themes ease-of-use, extended functionality, and control.

Below is a comprehensive list of changes made in Sage Intacct during the 2023 Release 2.

Company and Administration

• Intacct now sends an email when a user is locked out: When a user is locked out of Sage Intacct, the user receives an email to let them know that they are locked out and that an admin can reset their password.
• New and updated permissions: Sage added new permissions for Accounts Payable, Accounts Receivable, General Ledger, Order Entry, and Purchasing.
• Migrate to multi-entity: We’re migrating select single entity companies to multi-entity companies with a top level. Will you be among the first to upgrade?
• Name and ID your entity: We’re upgrading select single entity companies to multi-entity companies with a top level. Now’s your chance to name and provide an entity ID for your newly upgraded entity.

Accounts Payable

• Pay from the Bills list: Save time by paying individual bills directly from the Bills list, in multi-currency companies.
• Vendor list enhancement: Now when you drill into a vendor name from the Vendors list, the vendor information record opens.
  

Accounts Receivable

• Edit reversal dates: You can now edit the reversal dates on posted payments to correct information.
• Apply credits and line level payments in bulk: Use the CSV import template to input payment and apply credit data, then import them into Intacct.
• Customer list enhancement: Now, when you drill into a customer name from the Customers list, the customer record opens.
  
• Enhancement to dunning notices: You now have the ability to filter by customer group when sending dunning notices.
• Date format options for email templates: Send email with dates in your users’ preferred format.

Budgeting and Planning

• Sage Intacct Planning: Sage Intacct offers an add-on module that greatly expands budgeting and planning capabilities. Learn more.

Cash Mangement

• Bank transaction dating: Determine how bank feed transactions are dated by setting the time zone on the bank account in an Early Adopter program.
• View more data from a bank feed transaction: New data fields are available on the Bank transactions list to show you even more information.
• Creation rules support inter-entity transactions: Save time reconciling by automatically creating IETs with creation rules.

Credit Card Transactions Link to Expense Reports

An idea that spawned from customer feedback, credit card transactions now link to and flow from Cash Management to Employee Expenses, where you can easily include them in expense reports for faster data entry. This time-saving new feature helps streamline employee expense report creation, especially for companies that issue corporate cards.

Contracts

• Use kits for product bundles: Combine two or more products or services in a package deal using kit items and invoice the kit as a single line item.
• New Sample contract invoice printed document templates: Download and customize these sample invoice printed document templates tailored specifically for contract invoices.
• Improved user interface gives more insight into renewals: New fields in the user interface and reports show when your contract renewals are expected to occur.

Dashboards

New Dashboards for the Service Industry

For companies using the Service Industry QuickStart template, new dashboards are available to help people in specific roles get the information they need including:

• AP manager
• AR manager
• CFO
• Controller
• Revenue department manager
• Support department manager

You can add or remove components of the dashboards to suit your specific needs.

General Ledger

• Lock closed periods: You can lock a closed period to ensure that your records for the period do not change, and so remain in agreement with reports you produce for the period.
• Include subledger transactions in your audit trail: Set up your audit trail to include changes to transactions posted from a subledger.

Inventory Control

• Commit quantities during order entry: We’re continuing to offer the ability to dedicate quantities for specific orders in an Early Adopter program.

Inventory Fulfillment Progress

Inventory Fulfillment functionality continues to make great improvements through the Sage Intacct Early Adopters program. Fulfillment gives warehouse managers and workers the tools to efficiently track and ship sales orders. It also provides pick and pack lists, which make the job of the pickers and packers on the warehouse floor more efficient and less costly. Say tuned as this functionality continues to make strides toward general availability in Sage Intacct.

Order Entry

• Greater control to give employee users permission to view transactions: Use expanded permissions to increase your organization’s efficiency without added expense.
• Fulfillment for sales order management: We’re continuing to offer fulfillment (Pick, Pack, Ship, and Invoice) in an Early Adopter program.
• Commit quantities during order entry: We’re continuing to offer the ability to dedicate quantities for specific orders in an Early Adopter program.
• Specify location and department in subtotals at the top level: For companies that have upgraded from being a single-entity company to multi-entity, enable a new configuration option that lets you set these dimensions in the subtotals. Continues to be available under Early Adopter program.

Payroll

• Sage Intacct Payroll powered by ADP is now generally available: Sage Intacct Payroll is a best-in-class payroll and human capital management (HCM) solution that integrates seamlessly with Sage Intacct.
  

Purchasing

• Specify location and department in subtotals at the top level: For companies that have upgraded from being a single-entity company to multi-entity, enable a new configuration option that lets you set these dimensions in the subtotals. Continues to be available under Early Adopter program.

Reporting – Advanced

• Interactive Custom Report Writer (ICRW): Updates to ICRW allow you to quickly access customized views with the View Selector, and take advantage of enhanced runtime prompt functionality with Run Interactive prompts.

Reporting – Financial

• Drill down through account groups: You can now drill down through account groups to transaction level details.
  

Time and Expenses

• Sage Intelligent Time enhancements: Track employee time across multiple entities and sync data in real time.
• Employee expenses from credit card transactions: Create non-reimbursable expenses from existing credit card transactions to help eliminate reconciliation.

User Experience

• More information is available on the Subscriptions page: You can learn more about specific subscriptions from within Intacct.
  
• Lists enhancements: Get key improvements to more easily drill down to view required data. Learn more about the enhanced list features.
• Sage Intacct updated more import templates: We’ve updated three more import templates the Excel format for ease of use. Learn more here!
• Updated user interface labels: We updated labels in Consoles and Contracts. Learn more about label changes.

Web Services

• Watch the Sage Intacct Developers portal blog to stay up-to-date on great new features in Web Services.

New Features in Sage Intacct Construction

A variety of changes were made in construction management functionality in Sage Intacct 2023 R2 that improve the entire process.

First, you can now integrate construction project contracts with change requests.  If you group and bill work by phase (such as electrical or plumbing work), you can now attribute posted change requests to a specific project contract line. In earlier versions, the entire value of the change request was linked to the project contract line only at the project change order level.

Other new Construction features include:

• Reverse Conversions in Purchasing – enter opposite values on entry lines when converting a purchase order or subcontract document.
• Project Commitments – you can now show all project commitments (purchase order and subcontract orders) within a project as well as examine the linked project order documents.
• Summarize Time and Materials Billing – For Construction project contract lines with a time and materials billing type, you can now summarize all billable costs by project contract line on the project invoice.

Have Questions?

This article only covers some of the key highlights of the new release.  But 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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