Sage Intacct 2023 Release 4: What’s New
Sage Intacct 2023 Release 4 is now live. The last update of the year offers over a dozen major feature enhancements—it may well be the best show in town (sorry, Taylor Swift)! Below we’ve highlighted the significant changes and offered links to learn more about your favorites. (Of course, you can always just ask us) Let’s get this show on the road!
Watch the on-demand webinar: Sage Intacct 2023 Release 4 to see the latest upgrades in action!
Advanced Ownership Consolidation
The challenge of consolidating financials across multiple entities is familiar territory for businesses that have grown in complexity and reach. But with the launch of Sage Intacct 2023 Release 4, Sage Intacct now includes Advanced Ownership Consolidation—an innovative addition that transforms how you handle multi-entity financials.
Advanced Ownership Consolidation allows you to incorporate varying degrees of ownership more easily into your consolidation processes. This feature is tailored for complex businesses with tiered or partial ownership structures.
- Transactions matched through Bank Feeds or bank file imports are assigned an alpha character match sequence such as aaaaa, aaaab
- Allows you to easily identify which transactions were matched
- Manually matched transactions are assigned a separate match sequence identifier so that you can easily identify which transactions were matched based on matching rules
- Match sequence identifiers are all in lowercase letters until the reconciliation is completed and those are changed to all uppercase letters upon reconciling the account
- You define the sequence to use in document numbering
Bank Transaction Assistant (Early Adopter Program)
Navigating through accounts receivable and bank reconciliations can be a complex dance of numbers and transactions. A new feature within Sage Intacct 2023 Release 4—the Bank Transaction Assistant—can help you choreograph this dance more gracefully.
What It Does
- Batch Processing: Assign payments to multiple customers through a single interface. The Bank Transaction Assistant lets you do just that—directly from the Bank Transaction page, making batch processing a breeze.
- Auto-Matching for Reconciliation: Once you’ve received payments, the system will automatically match them against bank transactions. This means one of the most time-consuming aspects of reconciliation is now faster and hassle-free.
- Empowerment for Complex Structures: For those managing the nuances of multi-entity, multi-currency operations, this feature allows the receipt of advances and payments at the individual entity level, enhancing control and visibility.
Receive Single Payments for Multiple Customers
With Sage Intacct 2023 Release 4, the once Early Adopter Program feature for receiving single payments for multiple customers is now available to all users! It’s a significant stride forward in managing diversified receivables efficiently.
Sage Intacct now allows you to allocate a single payment across invoices for multiple customers. Whether you’re a school district paying for various schools or an insurance company covering multiple patients’ bills, this feature is designed to handle real-life payment scenarios easily.
New Recall Feature for AP Bill Approvals
We’ve all been there—you hit the submit button on a bill only to notice a mistake moments later. Now, you can breathe easier with the new ‘Recall’ feature for AP bill approvals.
This convenient new option lets you quickly pull a submitted bill back from the approval queue, allowing you to correct any errors by reverting it to a draft state. Once you’ve made the necessary changes, you can confidently resubmit it for approval. The Recall feature is accessible directly from the Bills list or within the bill’s detailed view, provided the bill is in the Submitted state.
Vendor preferred payment method shows as column on Pay Bills task.
Company and Administration
New Email Security and Delivery Insights
Sage Intacct has amped up its email delivery system in this release. The new enhanced email delivery service brings DKIM authentication—an advanced standard in email security—ensuring your emails reach their destination more effectively and uphold the highest security standards.
In addition, the new email insights feature provides a transparent view of the status of your sent emails. This means you can track the delivery of your communications, knowing when they’ve landed successfully in your recipients’ inboxes.
- If you have a sandbox license you can now refresh and manage it on your own
- Permissions are required to refresh the sandbox
- As a reminder, the sandbox can be refreshed up to 4 times each year at no additional charge
Contract Expenses Upgrade
For those managing contracts within Sage Intacct, you’ll be pleased to hear that contract expenses just got a major upgrade. You’ll no longer need to navigate through each contract or line record to add or report on expenses individually. Sage Intacct now offers an ‘Expense lines list’ to easily oversee all your contract-related expenses in one place.
Rebranding color change
Menus, buttons, links are now all in Sage green.
Control how far in the future you can post transactions
- Permissions must be updated to allow user to set this
- Allows you to prevent posting to dates far in the future by mistake
More to Unpack in Sage Intacct 2023 Release 4
We’ve only hit the major features of Sage Intacct 2023 Release 4—there are many more to discover. You can view the official release notes here, and as always, you can reach out to us with any questions.