The second release of Sage Intacct 2023 is now available. With top new features that span across functional areas and modules, this latest release improves security and control, ease of use, and interoperability between core financials and industry functionality like construction and inventory management. Let’s take a closer look at what’s new in Sage Intacct 2023 R2.
Accounting and Finance Updates
In Cash Management, Sage Intacct 2023 R2 adds the option to include even more columns on the Bank transaction list to view additional information about your transactions. In addition to fields available in previous releases, you can now see additional information like the transaction category, subcategory, bank reference number, payee ID, and payee address.
In Accounts Receivable, you can now edit the reversal date on posted payment reversal transactions, allowing you to change the date on which the reversal transaction posts to the General Ledger – with all changes tracked in the Audit Trail for that transaction.
In Accounts Payable, you can now pay individual bills directly from the Bills list in companies where multiple currencies are enabled (previously only available in companies with a single currency). Plus, you can now drill into a vendor record directly from the Vendor List. Previously, you were directed to the AP ledger report for the Vendor.
Credit Card Transactions Link to Expense Reports
An idea that spawned from customer feedback, credit card transactions now link to and flow from Cash Management to Employee Expenses, where you can easily include them in expense reports for faster data entry. This time-saving new feature helps streamline employee expense report creation, especially for companies that issue corporate cards.
New Features in Sage Intacct Construction
A variety of changes were made in construction management functionality in Sage Intacct 2023 R2 that improve the entire process. First, you can now integrate construction project contracts with change requests. If you group and bill work by phase (such as electrical or plumbing work), you can now attribute posted change requests to a specific project contract line. In earlier versions, the entire value of the change request was linked to the project contract line only at the project change order level.
Other new Construction features include:
- Reverse Conversions in Purchasing – enter opposite values on entry lines when converting a purchase order or subcontract document.
- Project Commitments – you can now show all project commitments (purchase order and subcontract orders) within a project as well as examine the linked project order documents.
- Summarize Time and Materials Billing – For Construction project contract lines with a time and materials billing type, you can now summarize all billable costs by project contract line on the project invoice.
New Dashboards for the Service Industry
For companies using the Service Industry QuickStart template, new dashboards are available to help people in specific roles get the information they need including:
- AP manager
- AR manager
- Revenue department manager
- Support department manager
You can add or remove components of the dashboards to suit your specific needs.
Inventory Fulfillment Progress
Inventory Fulfillment functionality continues to make great improvements through the Sage Intacct Early Adopters program. Fulfillment gives warehouse managers and workers the tools to efficiently track and ship sales orders. It also provides pick and pack lists, which make the job of the pickers and packers on the warehouse floor more efficient and less costly. Stay tuned as this functionality continues to make strides toward general availability in Sage Intacct.
Other Notable Enhancements
A range of smaller, but collectively impactful new or enhanced features are also included with Sage Intacct 2023 Release 2. These include extended functionality for payroll and HR, added security when a user is locked out of the system, more flexibility for companies managing contracts in Sage Intacct, better control in purchasing, and more.
Contact us if you have any questions about Sage Intacct 2023 or to request a copy of the release notes for full details of all changes in the latest version.
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