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Exploring Key Features in Sage Intacct 2023 R4

Sage Intacct 2023 R4 General Edition

Sage Intacct 2023 R4 is now available! This fourth update for 2023 boasts new features designed with your needs in mind, ensuring that you continue to maximize your investment in Sage Intacct. Let’s take a closer look at what’s new in Sage Intacct 2023 R4.

Advanced Ownership Consolidation

Advanced ownership consolidation is finally here! Now you can consolidate financial data across multiple entities with varying percentages of ownership. This new feature is accomplished through tiered consolidation. By simplifying multi-level consolidation through partial ownership, Sage Intacct helps your business save time and resources while enhancing accuracy and efficiency.

Changes to Billable Labels for Grant Management

The term “billable” does not always make sense for nonprofit organizations working with grants. This feature will change the Billable check box label to display as Qualified expense. All related labels will be updated accordingly throughout the system.

1099 e-filing Powered by TaxBandits

It is never too early to start thinking about 1099’s! Especially because this year if you have 10 or more 1099’s, you must file with the IRS electronically. By using this new service your data will be sent directly to TaxBandits where you will be able to submit it directly to the IRS from TaxBandits. In addition to filing with the IRS, you will be able to file state forms, send forms by mail, and grant online access to recipients.

Filtering Options in Vendor & Customer Aging Report

Did you ever wish that you could have more filters when running an aging report? The new filtering in both the AP and AR aging reports will enable you to filter by multiple customers/vendors, customer/vendor groups and allow you to include children of the customer/vendor.

Receive Single Payments for Multiple Customers

This is a new enhancement based on a user idea from the Community! You can now apply a single payment to invoices from different customers, such as a parent customer paying for a child. When set up, you will have the option to apply the payment to either a single customer or to multiple customers.

Update an AP Bill Submitted for Approval

Did you ever hit the submit button on your AP Bill and immediately realize that you made an error? Now, you can get that AP Bill back with the new Recall feature. Recall allows you to remove your submitted AP Bill from the approval queue and enables you to edit it, update the AP Bill, and resubmit it for approval.


Sage Intacct 2023 R4 Construction Edition

Sage Intacct Construction also brings several significant new features and integrations in the 2023 Release 4, including integration with Sage Construction Management and easier payment collection with Sage Field Operations.

Sage Construction Management

Unveiled in October 2023, Sage Construction Management project management platform (formerly Corecon) is a testament to Sage’s commitment to delivering comprehensive cloud solutions. This system is not just another construction tool; it embodies end-to-end functionalities covering the entire construction process, from pre-construction and operations to financials. The platform offers an alternative to Procore for an economical annual subscription that fully integrates into Sage Intacct. Learn more about Sage Construction Management by downloading the product sheet.

Enhanced Email Delivery Service

Have you been concerned about tracking emails that have been sent from Sage Intacct? Are you worried customers and vendors haven’t been getting your emails? Intacct’s new and improved email service eliminates the stress of email tracking and delivery! The enhanced DKIM authentication reduces the likelihood of emails being marked as spam and allows you to now also send emails from your companies’ sub-domains. Additionally, the email log has been upgraded to clearly provide audit details of each outbound email, including the status and a copy of the email itself.

Bank Transaction Assistant Early Adopter

Sage Intacct is continuing their commitment to automating cash reconciliation by unveiling their new Bank Transaction Assistant as part of overall bank feed functionality. Companies can now create rules to associate customers to bank deposits (e.g., every ACH deposit containing “ABC_Widget_Inc” = customer “C-09405”) which allows them to quickly create AR receipts based on those transactions. Companies are no longer required to enter AR receipts before trying to match with cash transactions imported by bank feeds.

Recall Bills Submitted for Approval

To date, once an AP bill has been submitted for approval the only way to change the bill was for the approver to deny the transaction. Now, submitters can recall AP bills on their own without having to involve any approvers. Approvers can receive notifications when AP bills in their queue are recalled, same as when bills are submitted for their approval; meanwhile, all recalls and er-submissions are tracked in Intacct’s audit log.

Collect payments in the field with Sage Field Operations

Speed up cash collections for your field services by taking payments on the spot with Sage Field Operations’ (SFO) new Fortis payment integration! Technicians can accept a customer’s credit card on the spot in SFO’s mobile app. Say goodbye to time consuming and inefficient collections activities by receiving payment before leaving the job site!

Control Future Posting

Ever struggled with accidental postings in far out future periods? Maybe you entered a transaction as 2033 instead of 2023 and now have a posting and reversal a decade in the future. Sage Intacct will now include a feature limiting GL postings to a set number of fiscal years in advance. This, coupled with the book closing functionality already embedded into the GL, will greatly reduce the potential for “fat fingered” date errors. This feature can not only be set for the whole environment, but can also be set entity by entity.

Automated PO Matching (Early Adopter)

It’s been long awaited and is now finally here! AP Automation now supports matching invoices against existing transactions (e.g., Purchase Orders) in Purchasing! When uploading or receiving emailed invoices, Intacct will now attempt to match the invoice to a Purchasing transaction before assuming it is a direct AP invoice. This means that companies can now unleash the power of AP Automation to process all AP invoices, not just direct bills not associated to a Purchasing transaction. Say goodbye to the countless hours your team spends matching vendor invoices to the source Purchasing transactions!

    Learn More

    The Sage Intacct 2023 R4 release is all about refining user experience, boosting system capabilities, and ensuring that your financial management processes are as efficient as possible. As always, our support team is ready to assist you in leveraging these new features to their fullest potential.

    Want to know more? Contact us at 973-887-8900 or [email protected] if you have any questions about Sage Intacct 2023 R4 or request a copy of the release notes for full details of all changes in the latest version.


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