Sage Intacct 2023 R1: Highlights, Demos, and More
Sage Intacct 2023 Release 1 is now available and has some great highlights that weโre excited for. AP automation, updated user interface,ย and industry updates are just some of the notable highlights that come in this new release. Read on to get more details on the latest features and updates along with the full release notes.
Core Highlights
AP Automation is now generally available
Weโre pleased to announce that AP Automation is generally available to US-based customers. APโฏ Automation, an add-on feature to Accounts Payable, streamlines your data entry process to save you time and money. All thatโs left for you to do is to review the drafted bills, make any coding changes or adjustments, and either submit for approval or post them.ย
Filter available credits in Pay Bills
Previously, after filtering the bills by due date, you had to evaluate each bill with available credits individually. This meant drilling down to the line details and then the credit details, noting the transaction dates for the credits, and selectively applying credits based on that information.
Now, after filtering using the same date range for the due date and credits, you can select bills, click Apply credits, and be done.
Expanding Beta for Lists enhancements
Thereโs even more to look forward to in our enhanced Lists beta this release.
- Personalize list views on the flyโreorder, resize, and freeze columns with drag and drop interactions.
- View precisely what you need to see with advanced filtering and sorting.
- Compare records using a split screen.
And more!
Updated user interface labels across Intacct
In an effort to improve the all-around customer experience, we reviewed and updated the user interface text for consistency and clarity. You will notice the following changes to the user interface:
- Labels are now sentence case
- Spelling, punctuation, and grammar are now consistent and correct
- Terminology and formatting are consistent
- Some acronyms and abbreviations are now spelled out for clarity
- The use of symbols and punctuation are reduced for clarity
Industry Highlights
Subscription-based businesses
Enjoy improved usability and flexibility for your contract needs, including support for additional evergreen billing scenarios.
- Model different billing plans without affecting the subledger with a billing schedule preview.
- Clearer guidelines for best practices for contract journal configuration.
- Include variable usage charges in open-ended subscriptions.
Try out billing schedules before saving
New journal configuration validations keep reporting on track
Project-based businesses
Achieve more control and visibility for managing your project.
- Assign Project Manager users permissions to create and edit order and quote type transactions.
- View the payment status and approval status of source transactions before generating project invoices.
Expanded permissions for project manager users
See the transaction state of billable invoice lines in Preview
Construction
Get a streamlined workflow and increased visibility for project contracts.
- Release retainage in project contract billing.
- View project contract billing details directly from your contract.
- Project contracts post to GL budget.
- Expanded custom reporting for Construction Payroll.
All Changes
Below is a comprehensive list of changes made in Sage Intacct during the 2023 Release 1.
Company and Administration
Migrate to multi-entity:ย Weโre migrating select single entity companies toย multi-entity companies with a top level. Will you be among the first to upgrade?
Name and ID your entity:ย Weโre upgrading select single entity companies toย multi-entity companies with a top level. Nowโs your chance to name and provide an entity IDย for your newly upgraded entity.
New and updated permissions:ย Weย changed permissionsย for Projects.
New permissions reports:ย Weโve added two new reports toย simplify tracking and managing user permissions.
Accounts Payable
AP Automation:ย Announcing general availability of ourย automatedย billย creation service.
Enhancements to Vendor Payments powered by CSI:ย Vendor Payments now supports setting up an additional email address for remittances. For companies new to the service, enjoy a streamlined setup experience with easy access to help topics.
Save time applying credits toย bills:ย Restrict available credits to a date range using the newย Payย billsย filter.
Security control for summary batches:ย To reduce discrepancies in your transactional data, the option toย edit summaries andย payment summariesย is now available only for manual summaries.
Accounts Receivable
New payment object for reporting:ย We added a new Accounts Receivable payments object so you canย run a centralized and detailed report for all AR payment transactions.
Security control for summary batches:ย To reduce discrepancies in your transactional data, the option toย edit summaries andย payment summariesย is now available only for manual summaries.
Budgeting and Planning
Sage Intacct Budgeting and Planningย is an add-on application that offers a collaborative environment for creating and managing budgets.
Talk to yourย account managerย for more information.
Cash Management
Connect a French bank account to a bank feed:ย Use the service provider, Nordigen, toย connect your French accounts.
Creation rules and VAT and GST:ย Use transaction templates toย capture VATย and GSTย in transactions created for reconciliation.
Construction
Post Construction project contract entries to GL budgetsย On Construction project contract lines,ย post line entries to General Ledger (GL) budgets and change request entries. Budget entries post to the GL budget account and appear on financial reports.
Introducingย Sage Intacctย Construction Payroll:ย Useย Construction payroll functionalityย to automate and simplify payroll tasks associated with Construction projects.
Bill Construction retainage on project contract invoices:ย You can release and include billed retainage with your regular project contract billing when you generateย project contract invoices.
See project contract billing and payment details from your project contract:ย View invoices, retainage releases, and payments for project contractย and project contract lines directly from the contractย Billing detailsย tab.
Contracts
Billing schedule preview:ย Model different billing plansย for the contract term without affecting the subledger.
Usage billing with evergreen contracts:ย Include fixed charges and variable usage chargesย in open-ended subscriptions.
New validations in Contracts journal configuration: Weย added safeguardsย that clarify the best practices for accurate contract reporting.
General Ledger
Choose how the Trial balance report shows opening and closing balances:ย We added a new checkbox that lets you choose toย show opening and closing balances as debits and credits combined or as debits and credits separately.
Inventory Control
Fulfillment for sales orders:ย Weโre continuing to offerย fulfillment (Pick, Pack, Ship, and Invoice) in an Early Adopter program.
Commit quantities during order entry:ย Weโre continuing to offer the ability toย dedicate quantities for specific orders in an Early Adopter program.
Lease Accounting
Sage Intacct Lease Accounting:ย We are continuing to offerย Lease Accountingย in an Early Adopter program.
Mateo
Streamlined process for closing savings periods:ย You can nowย close a savings account and distribute the account balanceย in one step.
Enhanced interest and statement-generation features: Weโveย improved the processes for closing savings periods and correcting transactionsย from closed savings and loan account statement periods.
New data import options:ย Weโveย expanded the list of data types that you can importย and added options for posting the data.
Order Entry
Fulfillment for sales order management:ย Weโre continuing to offerย fulfillment (Pick, Pack, Ship, and Invoice) in an Early Adopter program.
Commit quantities during order entry:ย Weโre continuing to offer the ability toย dedicate quantities for specific orders in an Early Adopter program.
Projects or Grants
See the state of project billable lines:ย You can nowย see payment statusย and approval status before creating transactions for project invoices.
Expanded project manager permissions:ย Assign Order Entry (OE)ย permissionsย to your project manager users so they can add, edit, and delete Order Entry transactions (Quote and Order template types).
Reporting - Advanced
Construction reporting areas in ICRW:ย ICRW offers new Construction payroll reporting areasย to enhance managing and tracking direct and indirect labor costs for your projects.
New payment object for reporting:ย We added a new Accounts Receivable payments object so you canย run a centralized and detailed report for all AR payment transactions.
New permissions reports:ย Weโve added two new reports toย simplify tracking and managing user permissions.
Taxes
Electronic filing for South African taxes: Submit VAT taxes manually or electronically for South African multitax entities with ourย new electronic filing workflow.
Time and Expense
Security control for summary batches:ย To reduce discrepancies in your transactional data, the option toย edit summaries andย payment summariesย is now available only for manual summaries.
Training
Sage University is here!: All your training needs are now at Sage University.ย Learn about the benefits of Sage Universityย and what you need to do to access your training.
We added new training courses and videos: Check them outย here.
User Experience
Lists enhancements: Get key improvements to more easily drill down to view required data.ย Learn more about the enhanced list features.
Updated user interface labels:ย In this release, we updated UI labels throughoutย Intacctย for clarity and consistency.ย Learn more about label changes.
Web Services
Watch theย Sage Intacct Developers portal blogย to stay up-to-date on great new features in Web Services.
And Much More!
For all the specifics, in-depth descriptions, and demonstration videos of the improvements coming to the product, see to the complete comprehensive list of changes made in Sage Intacct 2023 Release 1.
