Sage Intacct 2021 Release 4 — Learn What’s New!
As the leaves pile up in the backyard and our thoughts turn to celebrating the holidays with family and friends — there’s something new to look forward to! Sage Intacct 2021 Release 4 makes its appearance on November 12. Here’s what you can expect.
Broad AR and AP Usability Enhancements
Release 4 includes several subtle, yet powerful usability enhancements to the AR and AP modules, including:
1) List improvements to help you locate the data you want and take action:
- AR Advances list screen
- AP Approve Payments views and filters
2) Better visibility in GL posting detail from:
- New AR Advance screen
- AP Bills, Adjustments, and Payments
3) Additional Attachment support
- Attachments now available on AR Advances
- Manage attachments from AP Bill List
Streamlined Setup of Electronic Payments for Multiple Entities
Release 4 takes great strides toward streamlining the setup of electronic payments for multiple entities. You’ll simply enter the Tax ID and Legal Contact Information, enter the bank accounts for each entity/location and then switch on payment services through CSI. CSI is Sage’s electronic payments partner, who will validate and enroll the entities completing the electronic payment setup. This feature is initially available only to customers in the Early Adopter program.
International Tax Improvements
Numerous changes were made to improve tax processing for organizations that operate within Canada, UK, Australia, and South Africa. If this applies to you, contact us for full details.
Simplified Nonprofit Restriction Release
Many nonprofit organizations routinely deal with the need to release revenue that’s been given with a temporary purpose-based restriction. Normally this task requires a fair amount of data collection followed by the creation of a journal entry. But no more. Release 4 simplifies restriction releases with an elegant configuration process that performs a periodic sweep looking for qualified expenses and automatically releasing the revenue for those expenses. The setup is flexible and thorough to ensure you’re capturing the right expenses, and a convenient log displays the action taken.
Inventory Quantity Available Calculation
Now you can decide if your inventory Quantity Available figure includes or excludes Quantity on Order and Quantity in Transit. The Quantity Available is now visible during Order Entry, by warehouse.
Construction Change Management Enhancements
Sage is making significant investments in its construction solution, and Release 4 contributes to the build out by including the ability to print and email change order requests from the software, along with the ability to control when a posted change order can be deleted. Note that this feature is only available to customers in the Early Adopter program.
Financial Reporting Enhancements
We are continually impressed by the financial reporting capabilities of Sage Intacct. Virtually every quarterly release adds additional functionality and Release 4 is no exception. You can now configure the software to send out financial reports automatically upon a triggering activity. The triggering activity can either be that you’ve completed the monthly close from the top level, including all entities, or you can base the trigger on the close of a single entity. Once triggered, the application will email the specified reports to anyone on your list. We think this could be useful for the CFO to have the reports immediately sent to them for review before broader distribution.
Another enhancement to financial reporting is the ability to associate a name and description to your computations. Now, instead of “Comp 1” and “Comp 2,” you can assign meaningful names to help you, and others who come after you, to identify the intention of each computation.
Sage Intacct 2021 Release 4 Webinar
Register for our upcoming webinar to learn about the major new enhancements that are included in Sage Intacct 2021 Release 4. To get a complete list of enhancements, or if you have questions about the release, contact us.