The 2020 Release 1 of Sage Intacct debuted in February, evidence that Sage continues to accelerate the development of its flagship cloud accounting solution, continuing Intacct’s practice of four significant releases per calendar year. Release 1 provides a strong start to the 2020 year. Here’s a recap of what we feel are the most significant features in the latest release.
Linked Value-Only Inventory Adjustments
Inventory adjustments seem to promote angst among many of us. Here’s a new feature that can help minimize the potential complexities. Now, you can create inventory value-only adjustments for specific source transaction lines. For example, after paying for a purchase, you might need to adjust the value for items in the vendor invoice. For FIFO and LIFO costing, value-only inventory adjustments require a transaction line, otherwise it’s optional.
Purchasing Transaction Allocation
We continue to be impressed with the power and efficiency Sage Intacct provides. You can now use transaction allocations to automatically distribute amounts for non-inventory purchasing transaction lines across multiple dimensions, such as departments, locations, projects or classes. After receiving an invoice from a vendor, you can allocate the expense directly on the purchase invoice—no need to switch to AP to do the allocation.
Draft Contract State
Here’s a handy feature with lots of use cases. You can now save a contract, contract line, or expense line as a draft without affecting the GL or the Contracts subledger. When your data is ready, you or someone else can come back and post the contract, contract line, or expense.
New Query Function
Techie sorts, this one’s for you! A new query function that provides significant enhancements over the existing readByQuery function is available.
You use the query function to return a list of objects that match a given condition, just as you would with readByQuery function. However, query supports more robust, complex query statements using an XML-based syntax with defined rules and error checking. The new query provides more operators, lets you sort results, perform aggregate operations such as sum or average, use a larger page size limit and more.
Sage Intacct 2020 Release 1 is live, and these features are available for use. Let us know if you have questions about how to better utilize your Sage Intacct solution.