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What’s New In Sage Intacct 2024 R1?

Sage Intacct 2024 Release 1 Highlights

Sage Intacct 2024 R1 is available as of February 16, 2024! The Client Enrichment Group at Accordant got together to review the new features in the release. Here are their favorites and why they are excited about them.

AP and AR aging standard reports enhanced

Why we are excited about this: This idea came from users in the Intacct community. Previously when you ran an aging report the retainage balance only would show for the current date. If you wanted to back date your aging the retainage would still show as of the current date. Finally, you can get a retainage balance that is always correct no matter what date you choose when running your aging.  

Note: In Purchasing a primary document is a Purchase Order or a Subcontract ONLY!  

Track Compliance Records by Primary Document

Why we are excited about this: Before this release you could only track compliance records by Vendor. Now you will be able to track insurance and miscellaneous compliance records by either Vendor or Primary document.  

New Commitment Compliance Tab on Primary Documents

Why we are excited about this: Now there will be a new tab called Commitment compliance that will show on Purchase Orders or Subcontracts. You will now be able to see insurance, lien waiver and any other compliance records associated with the document making it easier to record and maintain compliance records by having them right in the data entry screens. This will enable you to track insurance compliance by subcontract when entering the subcontract. 

Submitters now receive approval notifications in Accounts Payables

Why we are excited about this: Previously, when a bill was submitted for approval, Sage Intacct sent the approval email notification to the user who drafted the transaction, but the submitter was not notified. If a transaction was drafted by the system through automation, this meant that no user was notified. For example, say that you uploaded a bill to AP Automation. The system creates the draft bill for you. You review the draft and submit the bill for approval. Previously, you did not receive any notification if the bill was approved or declined. Now, you can configure your settings to ensure that you do. 

Note: This feature needs configuration 

Simplify the list of contacts in AP and AR transactions dropdowns

Why we are excited about this: When selecting a vendor or customer contact the list can be huge now that list can be greatly simplified. You can limit the list to either the vendor/customer contacts or the contacts related to the vendor/customer not only will this make it easier to select the correct contact it will reduce errors by narrowing down the choices to only relevant data. 

Note: This feature needs configuration

Project contract billing details tab on Accounts Receivable invoices

Why we are excited about this: Now the latest invoicing billing totals for project contract lines and project contracts can be seen in read-only on a new Project contract billing details tab on the Accounts Receivable invoices. This feature increases visibility and stops navigation through the system to get this data.

New template option for retainage release invoices

Why we are excited about this: Now you can set the system to default to your own custom printed document template when printing Accounts Receivable retainage release invoices. This new default does not change the default template used for regular Accounts Receivable invoices. This allows you to have a form to send customers that is tailored to what you are billing for.  

Note: This feature needs configuration

Sage Construction Management

Unveiled in October, the new Sage Construction 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.  

View the product sheet here.

Conclusion

Sage Intacct R1 2024 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? Access the detailed Sage Intacct 2024 R1 notes released by Sage from your Sage Intacct homepage by clicking on the highlighted links below. You can also access the Release Calendar to see the dates for future releases and keep an eye on your homepage the month before a release to see what’s coming up! 

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