Summer Fun – Sage Intacct Release 3 2022: Here’s What’s New

The Q3 2022 release of Sage Intacct jumps onto the scene on August 19, 2022. Here’s a high-level view of what’s new and why it matters. For more information, watch the on-demand webinar: Sage Intacct 2022 Release 3 – Learn What’s New.

Streamlined Electronic Vendor Payments

Last summer, Sage Intacct announced a closer partnership with Corporate Spending Innovations (CSI) to provide an electronic payment automation solution for Sage Intacct customers. We have clients already enjoying the solution and this release improves upon it. Sage has added these new features:

  • Self-enrollment – vendor gets an email with a link to register.
  • Payment preferences – vendor can indicate how they wish to be paid, including virtual card and ACH.
  • Keep it right – easily view and manage any discrepancies between vendor information in Sage Intacct compared to what the vendor provided during their self-enrollment.
  • Manage exceptions – resend self-enrollment emails or detailed payment remittance emails to vendors, block or refund virtual card payments as needed, and troubleshoot payment processing errors by tracing notification IDs

Increased Dynamic Allocation Flexibility

If you’re managing multiple entities within Sage Intacct, you likely are already using the Dynamic Allocation feature. R3 improves upon the feature in these ways:

  • New per dimension value allocation for Employee and Project
    This addition will be helpful if you need to focus the allocation basis per-employee or per-project, for example allocating rent across each employee or allocating software costs across each project.
  • Extend dynamic allocations to more users
    Now, users with restricted access to a subset of entities can leverage dynamic allocations — creating and generating allocations just for the entities they’re authorized to access.

Subscription Contracts and Billing

Sage Intacct has always been a great fit for companies with contracts and recurring billing. 2022  Release 3 adds even more functionality.

  • Keeping it green — In the last release, Sage rolled out “evergreen” contracts that auto-renew perpetually. This round, Sage has added the ability to transition other contracts into evergreen contracts at renewal time easily.
  • Make it automatic — With the new release, you can establish invoice parameters and criteria to generate invoices on a set schedule, eliminating many of the manual steps in the invoice generation process.
  • SaaS Intelligence — In addition to those popular role-based dashboards, 2022 Release 3 adds pre-built dashboards designed for SaaS companies. SaaS Intelligence shows key performance indicators at a glance, including bookings activity and customer unit economics that expose the levers you can adjust to drive predictable growth.

Construction Enhancements

Sage continues to amplify its functionality for Construction customers in this release.

  • Import and duplicate contract and contract lines to easily create/update project contract information.
  • An optimized projects screen shows project contacts, addresses, and status information on the main projects tab so you can view key information at a glance.
  • In this release, document tracking functionality gets an upgrade. The system will now automatically populate existing transactions with primary document references, so all purchasing transactions are consistent for improved visibility and ease of reporting on conversion workflow.

Interactive Custom Report Writer & Interactive Visual Explorer

Here’s a new set of features to Interactive Custom Report Writer and Interactive Visual Explorer sure to get all your analytics types fired up.

  • “To date” calculations can show year to date, quarter to date, month to date, totals, and more.
  • “Ago” calculations can be used to compare relative period totals — as in comparing current year vs 1 year ago or current month vs 1 month ago.
  • “Rolling period” calculations can be used to show rolling totals — such as rolling past 3 months or rolling past 2 quarters.

More and Better Things

  • Bank Reconciliation — Define rules to identify credit card feed transactions that should auto-create matching credit card transaction in Sage Intacct. This enhanced automation function will speed the reconciliation process and save you time and effort during the close.
  • Additional role-based dashboards — Sage is adding several new role-based dashboards (e.g., CFO, AP Manager, AR Manager, Controller, Department Manager) in the release. Use them as is or tweak them to perfection.
  • Oh Canada — This one’s for our Canadian-based customers and those with Canadian entities. The new release includes support for Canadian input tax credits to recover GST/HST paid out for goods and services that support commercial activities.
  • Mateo — Sage Intacct Mateo is a cloud savings and loan solution for Roman Catholic Diocesan organizations and it’s now fully integrated into Sage Intacct.

Seems like there’s something in this release for everyone. To get a complete list of enhancements, or if you have questions about the release, contact us.