On May 17 Sage Intacct rolled out the 2019 R2 release. This release focuses on features with an emphasis on transforming the way you work so your organization can thrive! Sage Intacct continues to anticipate the pressing needs for greater control, flexibility and compliance. A few key highlights we want you to be aware of are:
Move to the Intacct Action UI — All users will automatically default to Action UI. Users will continue to have the option to switch back to the previous user interface (by clicking under their name in the top right-hand corner and selecting switch to previous UI). Soon the option to opt out of the new UI will be unavailable, so please make every effort to familiarize yourself with and begin using the new UI full time. This is the primarily supported interface and new features will be only available in this interface. Additionally, new personalization features have been added such as adding color tags on entities, updated filter options, and updated documentation to help familiarize yourself with the new UI.
Bank Reconciliation – The R2 Release rolls-out all new segregation of duties permissions within the new bank rec module. Previously, there was a single bank reconciliation permission that ruled all functions within the module. Now you have the ability to limit who can match transactions, who reviews and executes the reconciliation itself, and who has the ability to access and view the final product and reconciliation reports.
Previously, if you were reconciling via import, you had to reconcile voided and reversed transactions separately. Now, you can manually select and match these types of transactions even if there isn’t a corresponding transaction in your imported bank file. After you import your bank file, on the Intacct tab of the Reconcile Bank Account page, manually select a reversed or voided transaction. You can then click Match transactions.
NEW Control Accounts – A new control option has been added to help ensure entries to subledger accounts are recorded through the subledger applications instead of directly to the general ledger. Previously, smart rules have been set up to stop journal entry postings to subledger accounts. This was a huge customer demand item, and Intacct listened to the pain! To set up your accounts as control accounts,
- Go to General Ledger > All> and click the + sign beside General Ledger Accounts to add an account, or click Edit next to an existing account.
The General Ledger Accounts information page appears.
- After entering or editing the account information, check Disallow direct posting to prevent direct entry of journal entries to the subledger control account (for example Accounts Payable, Accounts Receivable, and so on).
Use this control to ensure that the account balance for the subledger account is accurate and has the necessary subledger details supporting the figure, rather than a direct entry which would not be reflected in the subledger application area.
- Click Save
Accounts Payable Pay Bills Filters – Previously, when you navigated to Accounts Payable – Pay bills, you saw your entire list of open AP Bills. Now, your screen will be empty until you add a filter set. This allows you to zero in on what you need to focus on. Filters can be saved and shared across your organization. Filter in on bills due within the next 30 days, past due bills, bills from a specific vendor or vendor type. Alternatively, you can leave filters off and click Clear Filters to see your entire AP listing.
Join for a webinar to see more on these new updates: