Sage Intacct 2024 Release 2: Highlights, Features, and More!
Sage Intacct’s 2024 R2 release introduces a host of enhancements and fresh features, elevating financial management to new heights. Designed to improve user experience and deliver substantial advancements in various financial operations, this latest version is perfect for seasoned users and newcomers considering a move to cloud-based solutions. Dive into the details of Sage Intacct 2024 R2 to discover how it can transform financial management in your organization.
Notable features for this release
Expand Financial Reportion Options for Projects
When scheduling a report, you can now filter the report by project or project group. If you filter by project group, you can select Individual report to divide the report into separate sections for each project in the group.
Blanket Purchase Order Price Conversion
Easily purchase services and other non-inventory items against a set purchase value. Using the purchase order workflow, you can now convert purchases of billable services to automatically draw down an approved blanket purchase order amount.
Bank Matching Sequence Report
We recently introduced match sequences to bring visibility into your bank and credit card reconciliation matches. Now, you can rush a pre-built custom report to see which Sage Intacct transactions matched to which bank transactions.
Ease-of-use
Bank Transaction Assistant for File Imports
There’s a new way to import your bank transactions for reconciliation that focuses on flexibility, control, and visibility and it’s now generally available. Bank transaction assistant for file imports introduces a fresh approach to importing. LEARN MORE
Imported transactions appear in a centralized location for all bank accounts on the Bank transactions page.
Transactions you import remain in Sage Intacct, even after reconciliation.
More file formats are supported, giving you extra flexibility.
You can increase control of who imports bank transactions using permissions.
A new import activity list provides added insight.
Employee Expense Allocations
We now offer the ability to distribute employee expenses based on transaction allocations in an expense report. This allows you to distribute employee expenses quickly. You can distribute employee expenses and credit card transactions linked to an employee.
Previously, when you created an expense report, you would need to calculate the distribution and enter several lines for an expense item. Now, when you create an expense report, you can distribute the amount paid for a transaction. Sage Intacct calculates the amount to distribute between departments, cost centers, grants, programs, or classes. Intacct distributes the amount based on the transaction allocation. LEARN MORE
To distribute employee expenses, an admin must select the Enable allocation to distribute expense entry checkbox on the Configure Time and Expenses page.
A transaction allocation determines how Intacct distributes the amount of an employee expense.
Only use transaction allocations that are percentage based in an employee expense.
Sage Fixed Asset Management: Purchasing Integration
Streamline your data entry process by creating assets directly from purchasing transactions such as vendor invoices.
Assets are automatically created at the time of their acquisition. Each line in a transaction can generate 1 asset. Only transactions that post to Accounts Payable can create assets.
Sage Intacct checks if the items in a transaction are associated with an asset classification. This association is defined in the transaction definition’s posting configuration. LEARN MORE
If a match is found, you provide a name for the new asset on that line item.
When the transaction posts, it creates an AP bill, which then generates an asset. You can review the asset to add additional details.
The new asset is automatically tagged as a dimension on the transaction, bill, and posted journal entries.
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Boosted Revenue Management
Search smarter and find revenue schedules faster using the new dimension or dimension group filters. You can either enter a single dimension or a dimension group in these fields. For example, enter either an item or an item dimension group in the Item or Item group field.
The following are all possible dimension or dimension group filters. The dimensions that you see are based on your subscriptions and your General Ledger dimension configuration. LEARN MORE
- Customer or customer group
- Contract or contract group
- Location or location group
- Department or department group
- Class or class group
- Item or item group
- Project or project group
Platform
Rest API—Beta
We’re excited that more customers now have a chance to experience our Lists enhancements in beta.
Turn on the Lists beta interface to personalize your list views, leverage advanced filters, manage list and record details side-by-side, and much more. LEARN MORE
All Changes
Accounts Payable
AP Automation: All AP Automation customers now benefit from AI predictions for GL account and select dimensions.
Restricted users: We’ve updated what actions restricted users can take in Accounts Payable.
Memo reclassification: Learn how reclassifying the memo on a bill now affects the corresponding payment memo.
Easy access to vendor payment files: You can now generate and access payment files for ACH and bank file payments in Accounts Payable.
Edit tax information in a draft bill: Create draft bills without entering tax solution information. You can update the draft later to enter a tax solution, tax schedules, and tax details.
Accounts Receivable
Draft payments: You can now draft payments that you receive but are not ready to post.
Restricted users: Learn about changes to what restricted users can do in Accounts Receivable.
Budgeting and Planning
The latest updates in Sage Intacct Planning: Use the Sync accounts wizard to ensure that your data in Sage Intacct Planning accurately matches Sage Intacct Financials.
Cash Management
Bank transaction assistant for file imports: Save time and increase control when you import bank transactions from a centralized location.
Match sequence report: Run a pre-built custom report on reconciliation matches.
Bank transaction assistant: Speed up your Accounts Receivable and reconciliation workflows. Learn about the bank transaction assistant, now generally available.
Consolidation
Separate opening balance entries: Sage Intacct now separates opening balance entries from current period activity when consolidating mid-year.
Fixed Assets Management
Announced Fixed Assets Management: Automate and simplify the management of your assets from acquisition to disposal with this new application.
Create assets from purchasing transactions: Streamline your data entry process by automatically creating assets from purchasing transactions such as vendor invoices.
Improved workflow for non-depreciable assets: We’ve simplified how non-depreciable assets are displayed and added a new setting for their disposal.
Other updates in Fixed Assets Management: Other updates include improvements to default list views, changes to the daily depreciation calculations, and more
Help and Training
Get the help you need: We regularly expand our online help and training beyond just new features and enhancements. Each release, we often add in-depth, best-practice help and training on existing features also. See our new or enhanced help and training content.
Platform and Customization Services
Customization packages improvement: In Platform applications, you can now choose to exclude selected components from a package.
Audit Trail checkbox: To simplify your user experience, we removed a checkbox from the edit object field page for system-generated fields.
Smart event log changes: We improved how Smart events are logged to streamline your workflow by eliminating the requirement to install a separate package.
Projects
Latest enhancements in Sage Intacct Project Intelligence: You can now import project progress percentages and distribute fixed fee revenue.
Purchasing
Convert transactions by price: You can now create blanket purchase orders for times when you have an approved spending amount that will be drawn down over a period of time.
Automate transaction matching: Create a more efficient workflow by letting Sage Intacct create vendor invoices for you and match them to existing purchasing transactions.
Reporting - Advanced
New IVE workflow walk-through examples: Discover the phenomenal potential of Interactive Visual Explorer (IVE) with 3 new in-depth workflow examples.
Reporting - Financial
Improved financial reporting for projects: New reporting features let you filter scheduled reports by project, and automatically create individual reports for all projects in a group.
User Interface
List enhancements: Get key improvements to more easily drill down to view required data.
Updated user interface labels: We updated labels in Company, Fixed Assets Management, Purchasing, and Time and Expenses.
Web Services
Explore Sage Intacct 2024 R2 Updates
We’re thrilled to introduce a set of updates designed to enhance your productivity and overall effectiveness. For comprehensive details, thorough explanations, and demonstration videos highlighting the improvements introduced in Sage Intacct 2024 R2, please consult the complete, detailed list of changes implemented.
