Each quarter, Sage releases an update to Sage Intacct including new capabilities. Some of the new features may be subtle improvements, others can be transformative to your operation. The challenge for most businesses is to stay on top of what’s new, understanding enough about each new feature to know if and how it can improve operations. We can help with that. We take the time to review, test and understand the new features and share what we’ve learned with you so you can maximize the value you get from your investment.
The 2019 Release 2 went live in late May. There is a long list of new capabilities, but here are some of our favorites—ones we think will have the broadest appeal to our Sage Intacct users.
- Time to act: The Action UI (user interface) is now the default for all users. If you have been putting off learning the new UI, please start the process. It’s easy to use, and most of the newest features and functionality of Sage Intacct are only available through the new UI. If you’re simply not ready to embrace the Action UI, you can switch back to the classic UI by clicking on your name at the top right of the page and then clicking “Switch to previous UI.”
- Balancing the books: Have you started using the new Bank Reconciliation that was introduced in 2019 Release 1? If you haven’t, it might be that you are still using the older UI (see #1 above). The product development team at Sage Intacct added permission-based functionality that facilitates segregation of duties within the Bank Rec. For instance, you can have different permissions for different users for the upload and matching process, the reconciliation, and the bank reconciliation reports.
Different permissions for different users.
- Just say no: Many of us will appreciate the new ability to mark a GL account as a control account to disallowdirect posting. The subledgers in Sage Intacct all post directly to their appropriate GL account such as Accounts Payable and Accounts Receivable. Until now, you could mistakenly post a journal entry to one of these accounts and throw off your subledger matching to the GL. Now in the GL account set up for your Accounts Payable account, you can select a checkbox that will disallow direct journal entries. We just love features that make it harder to make routine mistakes.
- Because nothing stays the same: One of the biggest challenges for distributors is maintaining optimal inventory levels. This new feature can be a valuable tool for reaching that optimal mix. Sage added a third replenishment method in this release: Demand forecast by fluctuating values. Use this method when the demand for an item varies across periods, such as for highly seasonal items or items that have a variable selling pattern. With a fluctuating forecast, you can project the expected demand of an item over time and not have to keep updating the item to adjust the replenishment quantities each time the quantity needs changing.
- Because everyone loves a good dashboard: Sage added two new dashboards for those of you that use the various QuickStart templates as a way to help you jump start your dashboard creation.
- Financial Ratios dashboard—creates a visual experience of the Financial Ratios standard report in a series of performance cards that help you quickly and easily track your liquidity, leverage, and profitability.
- Cash Analysis dashboard—centralizes different cash views and performance cards so you know where you stand.
If your company doesn’t use the QuickStart template, keep an eye out in the future as Sage is promising additions for you.
Sage Intacct continues to impress us with the quantity and quality of new features and functionality added to the solution each quarter. We know it’s a lot to keep up with, so we’ll continue to highlight some of the key features here and remember we’re always available to answer your questions.