Learn about the new features in Sage Intacct 2023 R3

Sage Intacct 2023 Release 3 (R3) is now available.  This third update for v2023 boasts new features that span financial reporting, cash management, payables, contracts, construction and more.

Tour the new Sage Intacct release (8:35 min). 

Below is a comprehensive list of changes made in Sage Intacct during the 2023 Release 3.

Company and Administration

  • Configure the number of decimal places to increase data accuracy: Data Delivery Service now lets you configure the number of decimal places used in rounding your data.
  • Coming soon: Enhanced email delivery service: Sign up to be an early adopter of our enhanced email delivery service that uses DKIM authentication!
  • Permission changes: Sage changed permissions for Accounts Payable, Cash Management, Purchasing, and Time & Expenses.

Accounts Payable

  • Bill uploads for restricted users: Users restricted to entities or departments can now upload bills for AP Automation.
  • Vendor approval: Verify accuracy of vendor record changes through an official review process.
    One of the most requested features among the Sage Intacct customer base, Sage Intacct 2023 R3 now allows you to manage your vendor approval process directly within the software. Using the new Vendor approval page, you can review new vendors and update existing vendor records. While a vendor record is pending approval, new Accounts Payable and Purchasing transactions for that vendor can be saved as drafts, but they cannot be posted. After the vendor is approved, the transactions can be posted.
    2023 R3 AP Vendor Approvals Queue
  • Inter-entity drill down link: Drill down to invoice details from a bill that was created through inter-entity bill back. Drill into invoice details directly from a bill that was created with bill back. You can view the corresponding inter-entity invoice with just one click.

Accounts Receivable

Budgeting and Planning

Consolidation

  • Introducing partial ownership through tiered consolidation—Early Adopter: Sage is previewing a new financial consolidation offering that supports different entity ownership percentages and multiple levels of consolidation through defined parent-subsidiary relationships.

Construction

  • Do your vendors have the right compliance documents? Ensure that your construction vendors have provided the necessary compliance documents before you pay them.
    Sage Intacct 2023 R3 helps ensure that your vendors provide the required compliance documents before you pay them. The Vendor Compliance subscription included with Construction subscription, helps you track compliance-related documents, such as proof of liability insurance or business licenses including these features:

    • Set up compliance definitions to establish how documents are validated and what happens when a document is missing or expired.
    • Specify whether payments are blocked, or a warning appears in Accounts Payable if a vendor has an expired or missing document.
    • Create compliance types for each type of document that you need to track.
    • Create one compliance record for each of the vendor’s documents that you need to track.
      2023 R3 Compliance Definition Info
  • Enhancements in Sage Field Operations: Recent enhancements save time in the office and provide more flexibility for mobile workers.

Contracts

General Ledger

Healthcare

Help and Training

  • New Sage Intacct glossary: Look up terminology or browse the glossary to learn more about Intacct.
  • Navigate your learning experience: Sage University’s learner home provides you with a personalized and intuitive hub to help you navigate and customize your learning.
    2023 R3 Learner Home Courses

Inventory Control

  • Announcing Advanced Kit Assembly: Save time by automating kit building with the new Advanced Kit Assembly module in Sage Inventory Automation.
    2023 RC Advanced Kit Assembly
  • Improved prevention of negative inventory: Users can no longer backdate a transaction that would result in a negative inventory amount if you don’t allow negative inventory. Learn more

Nonprofit

  • Announcing EMRConnect for Sage Intacct: Looking to streamline processes and reduce the chance of data entry errors? EMRConnect automates the flow of data from your electronic medical records (EMR) system to Sage Intacct.
  • Announcing FACTS solution for schools integration: Integrate FACTS with Sage Intacct to reduce manual data entry by importing data from FACTS to your general ledger in Intacct. Streamline your financial processes, get real-time insights to support decision making, and enhance stewardship and compliance.

Payroll

Purchasing

Reporting – Advanced

  • Interactive Custom Report Writer (ICRW): New in ICRW, Apply XML allows you to modify ICRW custom SQL reports and retain all the formatting.

Sage Intacct Real Estate

  • More flexibility and control Sage Intacct Real Estate: Sage has made some changes to Sage Intacct Real Estate so that you have more flexibility and control when managing your business.
  • Sage Intacct Real Estate—easier to use than ever: We’ve made improvements so that you can complete tasks quicker and with greater ease in Sage Intacct Real Estate.
  • Greater visibility into your organization: Recent enhancements in Sage Intacct Real Estate provide greater visibility into your organization to help ensure that you’re always up to date with your business.

Time and Expenses

User Experience

  • Lists enhancements: Get key improvements to more easily drill down to view required data. Learn more about the enhanced list features.
  • Funds hidden from entity navigation When an entity is designated as a fund, the entity selection dropdowns hide the funds from view. Learn more!
  • Updated user interface labels: Sage updated labels in Accounts Receivable, Cash Management, Company, and General Ledger. Learn more about label changes.
    2023 R3 User Interface Label Changes

Web Services

Financial Management Enhancements

Sage Intacct now features match tolerance functionality that compares the quantities and unit prices that appear on converted Purchasing transactions to ensure your company pays the proper amount for what you ordered. For example, if your workflow is to convert purchase orders to vendor invoices, Intacct comparison verifies that the quantity and unit price details agree on the purchase order, PO receipt, and vendor invoice.

In addition, new document sequencing in accounts receivable allows you to track and reconcile payments more easily. Let’s say, for example, you have a posted payment that was applied to multiple invoices and adjustments. Now, you can run a custom report based on the Payment ID to see which transactions the payment was applied to.

Lastly if you use electronic bank files, you can now use them in Time and Expenses to pay employee expense reimbursements.

Industry-Specific Enhancements

For companies in the medical industry, you can now integrate with EMRConnect to simplify the process of moving general ledger data from your electronic medical records (EMR) system into Sage Intacct.

Other notable Updates

A range of smaller, but collectively impactful new or enhanced features in Sage Intacct 2023 Release 3 include:

  • In multi-currency companies, you can now apply payments for individual invoices directly from the Invoices list. Previously, you could only do this if your company uses a single currency.
  • If you work with multiple entities in Sage Intacct, you can now restrict the creation of General Ledger transactions to the entity level.
  • A handful of new user interface improvements such as list enhancements that allow you to drill down more easily to transaction detail.

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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