Last Updated: March 5, 2019

 by Briley Acker, CPA

Sage Intacct’s latest release includes a wide variety of updates to enhance system processing and to make the financial system more scalable for growing companies. Today I’m taking the time to introduce my three favorite features included in the new update. Check them out below!

  1. Bank Reconciliation

I’d encourage all users to take a look at the new bank reconciliation process. This updated application provides a cleaner opening reconciliation screen, upon which users can provide their standard bank rec data and bank feed files for auto-matching.

For high volume accounts, the new bank reconciliation process provides advanced filtering capabilities to track down and review activity in an efficient manner.

Keep in mind, this update is only available in the new Action UI.

  1. Improved multi-entity list filtering

Another important update pertains to multi-entity companies that create transactions at both the top and bottom levels of Intacct. It can often be a tricky exercise to spot bills or transactions that were created at the top level when looking at a list of these objects in a lower entity of Intacct.

With the updates brought forth in this release, users can overcome the challenge of working through cluttered lists that bring in both top-level and entity-level data. By providing an option to include or exclude top level activity in various transaction lists, cash management, accounts receivable, and accounts payable processes can become more efficient for growing organizations.

Look for this change in the following lists within Intacct using the new Action UI:

  • Bills
  • Invoices
  • Adjustments
  • Manual payments
  • Other receipts
  • Charge card transactions
  • Charge payoffs
  • Bank fees
  • Deposits
  • Fund transfers
  • Journal entries
  • Statistical journal entries
  • GAAP journal entries
  • Tax journal entries

 

  1. Include General Ledger accounts in your CSV exports of the General Ledger report

Check out the improved General Ledger report export capability.  The GL report has been enhanced by providing users with the ability to export reports that include the GL account on every row to Excel CSV reports.

Before R1, General Ledger exports to Excel matched the live GL reports in Sage Intacct. This meant that the GL account was stationed in the header of the report, but not in line with the transaction details.

When analyzing transaction data in Excel, having accounts included in the same row with the details allows for the ability to easily filter, pivot, and compare data.

Thankfully, Sage Intacct now provides a formatting option for reports exported to CSV to include the account on each line. This will save users from manually adding account values to rows in Excel, giving them more time to reconcile, review, and analyze GL transaction data.

These are just my favorite new features but don’t let your own curiosity stop there. Turn on the Action UI in Sage Intacct and explore these and many other updates for yourself. Review the release notes to take full advantage of the new features and updates released with 2019’s R1 release.