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Sage Intacct 2021 R3 Overview

Sage Intacct 2021 R3

Sage Intacct 2021 Release 3 will continue to help companies revolutionize their operations by enabling users to work from anywhere and do it smarter and more efficiently than ever before. Read on to discover the top features, as well as video overviews from Sage Intacct product managers, and to hear about the exciting upgrades and enhancements coming to the cloud financial solution you already know and love!

Sage Intacct 2021 R3

Deep cross-industry Functionality

Release Highlights

Best-in-class Cloud Platform

Best-in-Class Financials

Why Release 3 Matters

Increases competitive edge

  • Proactively catches errors with GL Outlier Detection enhancements that show anomalous journal entries with tags to understand outliers at-a-glance

Addresses common sales objections

  • Supports multi-national companies who need Canadian federal and provincial taxes 
  • Covers addiontial billing use cases with committed usage billing in Contracts and Billing,  which bills customers for a committed quantity at a given rate
  • Offers project change order to keep momentum going in Construction projects

Drives customer satisfaction

  • Automates matching bank transactions with more robust functionality in matching rules
  • Shows real-time accuracy of where your inventory is with “in-transit” transfers in Warehouse

Sage Intacct 2021 R3 Top Features

Sage has further automated matching criteria to minimize reconciliation time. Improved grouping options and new operators increase filtering and matching capabilities, giving you more freedom to match numerous transactions.

Sage added support for QST, GST, PST, and HST taxes as one of the standard solutions in the Taxes application.

  • In Order Entry and Purchasing, automatically calculate taxes based on the item selected and who you’re selling to or purchasing from.
  • Choose the tax rate to apply to the line in Accounts Receivable, Accounts Payable, Cash Management, Time & Expenses, and General Ledger, as Intacct will compute the taxes.
  • To assist in expanding your worldwide company with additional supported nations in Multi-tax, simplify tax compliance with end-to-end, out-of-the-box tax automation.
  • In an invoice run, use the Bill-to-option to consolidate scheduled billing for contracts with the same entity, exchange rate type, and transaction currency into a single invoice for each individual contract line bill-to contact.
  • Set up committed quantity billing on a line-by-line basis to suit your specific company needs. With comprehensive prices and the ability to send invoices straight to customers, you’ll have quick and easy insight into billing.

The process of transferring merchandise between warehouses can be tracked more precisely. You can now show products as “in-transit” as they are going between warehouses for improved inventory visibility if they require transit time or have a fee associated with a transfer.

With project change orders and standard transaction definitions, you can save time on change management and report creation. Throughout the project life cycle, capture and document anticipated and unforeseen project changes, as well as how those changes influence original and updated quantities and amounts.

Include more (and more varied) information on your dashboards with new components:

  • The Billboard component makes it simple to distribute announcements and other information around your company.
  • You can use the Custom Navigation component to build a customized, linked list of menus that you use frequently for quick access.
  • The new normalized columns illustrate whether negative or positive variances are mathematically advantageous or unfavorable, which helps to explain data that might be difficult to interpret.
  • In the QuickStart library, you can quickly locate a report and its contents. A new layout option depicts the financial report’s contents. The rows show dashes where your figures will appear instead of real data.
  • You won’t have to remember to choose different books every time you make a financial report. Simply change the GL configuration option to Other Books as the default.

You can avoid tampering or manipulation of your electronically printed documents with a secure PDF, assuring the accuracy and security of the data supplied. The printed PDF is encrypted using 128-bit encryption. Other than printing, no other activities are permitted, including editing, signing, copying, extracting, or commenting.

Sage Intacct 2021 R2 Spotlights

Canadian Sales Tax

Invoice Generation

Usage Billing

Inventory In-Transit Transfers

Project Change Orders

Dashboard Insights

Sage Intacct 2021 R3 By Module

Accounts Payable

Select the details to put on remittance notices: Accounts Payable can be configured to include or omit information from vendor notification emails.

Accounts Receivable

  • Inter-entity bill back has been enhanced: Inter-entity bill back is now available to firms who have purchased the Taxes application.
  • Invoice penalty enhancements: From the Pick invoices to penalize list, you can now bulk select late invoices to penalize and drill down to invoice and customer information.
  • Unapply posted credits: You can now unapply credits directly from posted payments when only credit was applied to an invoice.

Budgeting & planning

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

Cash Management

New check format for Canadian customers: Sage Intacct now provides an out-of-the-box option for printing Canadian checks. No need a create a custom check format.

  • Save time with matching rules automation: Matching rules is now even more flexible and robust, with less manual matching.
  • Vendor Payments: Enhancements include visibility into how CSI pays vendors, more accurate company information on printed checks, and the ability to flag a vendor as an individual to mask PII when transacting through CSI.

Company & Administration

Secure PDF for printed document templates: Customers can set up printed document templates with 128-bit encryption to print invoices and other documents as secure PDFs.

Run DDS jobs after a specific date: Save time and limit the large job queue by exporting your data after a specific date.

Construction

  • Track change orders by log number: Now, identifying how many change orders are added to source documents is easy!
  • Create reports using industry-standard categories: Now you can generate industry-standard reports that expose Construction project details.
  • Streamline billing for project changes: New project change orders group change requests, making it easier to bill for changes to your project.
  • Capture projects on your Purchasing documents: Now you can select a project for Purchasing transaction definitions.

Construction Early Adopter program expands functionality: R3 includes project change orders, the ability to capture a project in Purchasing documents, and expanded Construction reporting enhancements.

Contracts

  • Committed quantity usage billing: You can now bill as a customer consumes a given quantity of your product or service and defer the associated revenue.
  • Generate invoices by bill-to contact: You can now choose to consolidate invoices by bill-to contacts when generating invoices.
  • New Contracts reports for ICRW: We added 16 free, pre-built contract billing and revenue reports to the ICRW Report Library.
  • Rename the Contract dimension: We added support to change the terminology for the Contract dimension.

  • New billing price list reporting objects: Use the new reporting objects with the Custom Report Writer to gain insight into your billing prices.

Dashboards and Insights

Dashboard component type enhancements: Additional dashboard component types give you more ways to see and share information directly from a dashboard.

General Ledger

GL Outlier Detection: You can now use the standard settings or customize materiality and dimensions for outlier evaluation. New line-level icons provide better at-a-glance information.

Inventory Control

Introducing fulfillment for sales orders: Sage is launching Fulfillment (Pick and Pack) in the Early Adopter program.

The Early Adopter program provides qualified functionality to a specific set of Sage Intacct customers who use Order Entry and Inventory. If you’d like to consider being an early adopter, contact your account manager.

  • In-transit warehouse transfers: Allow for the time it takes to move inventory between warehouses.
  • Tracking extended to stockable kits (parent-level only): You can now use serial, lot, bin, and expiration tracking for stockable kits for better inventory management.

    Additional enhancements:

  • Item name for cycle counts for easier identification
    New item attributes for density
    Format changes for configuring Inventory

Order Entry

 
Item cross references enhancement: Now you can create and view item cross references in Customer records.

Purchasing

Item cross references enhancement: Now you can create and view item cross references in Vendor records.

Continuation of Three-way match Early Adopter program: We launched the program for Three-way match in 2021 Release 2 and are continuing it in Release 3.

The Early Adopter program provides qualified functionality to a specific set of Sage Intacct customers who use Purchasing. If you’d like to consider being an early adopter, contact your account manager.

Reporting—Financial

  • Financial Report Writer column type enhancements: We’ve added more column types to help you produce more refined financial reports.
  • QuickStart library layout: Use layout in the QuickStart library to view a report layout before installing it.
  • Financial Reports and Graphs library: When creating a new financial report or graph from the list, the menu option is now QuickStart library instead of Choose template.
  • New financial reports use default Other books: When creating a new financial report, the report will use the default other book settings if any exist in the General Ledger.

Reporting—Advanced

  • Date format preferences supported for Advanced Reporting: Custom Report Writer, Interactive Custom Report Writer, and Interactive Visual Explorer now support your personal date format preferences.
  • New reporting areas: We added the Checklist and Change Requests reporting areas to ICRW and IVE.

Updated permissions for Employee users of ICRW and IVE: Employee users of the Projects and Timesheets reporting areas now have run access and can limit report access.

The Early Adopter program provides qualified functionality to a specific set of Sage Intacct customers who use Purchasing. If you’d like to consider being an early adopter, contact your account manager.

Sage Intacct Advanced CRM

  • Contract sync enhancements: You can now sync Contracts in draft mode to Salesforce, as well as restrict changes made in Salesforce from being synced back to Intacct.
  • Support for Committed Quantity Billing: The Advanced CRM Integration supports the new type of quantity-based billing in Contracts: Committed quantity.
  • Updated field mapping: Both standard and custom field mappings have been updated to increase ease of use and customization for your specific needs.
  • Projects dimension syncs at top level: The Projects dimension now syncs to Salesforce like all other dimensions, regardless of your subscription status to the Projects application.

Tax

  • Support for Canadian sales tax: We added support for Canada GST, QST, PST, and HST taxes as one of the standard solutions in the Taxes application.
  • More control over tax capture: We’ve added a Tax Detail option that lets you define whether taxes are captured into the tax ledger for a transaction.
  • Override tax details: We’ve enhanced the manual override option in Purchasing and Order Entry so that users can change the tax detail in addition to the tax amount at the line level in transactions.Reduced Input Tax Credit support for Australia: Australian companies can more easily reclaim taxes for purchases with mixed business and personal use under the Reduced Input Tax Credit (RITC) rules.
  • Streamlined copy and convert: We’ve streamlined the copy and convert processes for documents created under an old tax solution to new documents using a different tax solution.
  • Updates for UK, Australia, and South Africa tax setups: We’ve continued to expand and improve upon our standard tax solutions for VAT and GST to more comprehensively meet customer needs.
  • Update entity tax ID: Customers that have been operating with a temporary or placeholder tax ID can now update that tax ID in their tax details and have that update cascade through their existing transactions.
  • application.

Web Services

Highlights include:

  • In Accounts Payable, a known issue related to updating vendors with existing contact lists is fixed, and additional capabilities related to vendor contacts, vendor email templates, vendor account number/locations, and Pay to/Return to/Contact to 1099 are provided. Finally, you can provide vendor bank file details and the country code when using electronic payment providers (Early Adopter Program).
  • In Accounts Receivable, a known issue related to updating customers with existing contact lists is fixed, and additional capabilities related to customer contacts and Bill to/Ship to are provided.
  • In Purchasing, you can now specify project IDs on transaction headers. In addition, you can choose from industry-standard reporting categories when creating or updating transaction definitions, and those categories can be viewed in responses of API functions that read transactions.
  • In Order Entry, you can use a new retrievepdf function to return Base64 encoded data for PDF versions of transactions. In addition, industry-standard reporting categories can be viewed in the responses of API functions that read transactions.
  • In Inventory Control, density measurements are now supported for items. In addition, tracking is extended to stockable kits (parent-level only). Finally, industry-standard reporting categories can be viewed in the responses of API functions that read transactions.
  • In Contracts, you can now consolidate invoices by bill-to contacts, at the customer, contract, or project level. In addition, committed quantity billing is also supported.
  • The Construction Early Adopter program introduces a new project change order object that lets you group change requests so you can present them to the customer for approval. You can also use a new change log number parameter to track the number of changes applied to a source transaction in Purchasing and Order Entry. Finally, you can choose from industry-standard reporting categories for accumulation and estimate types.

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

Sage Intacct 2021 R3 Resources

Multi-tax Datasheet

Vendor Payments Datasheet

AND SO MUCH MORE!

See the comprehensive list of changes made in Sage Intacct 2021 Release 3 for all the details and in-depth descriptions of the changes coming to the product.

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