Announcing Sage Intacct Release 1 2023

As spring begins to make its presence known, so does the first quarterly release of Sage Intacct. This release mirrors spring’s promise with an abundance of new and updated features and functionality. Here, we review the most significant changes broken out by module.

This is far from an exhaustive list. For more information, access the complete set of release notes, view a Sage video overview, or watch our recorded webinar.

Accounts Payable

AP Automation is Here!

During the last release, Sage began a phased rollout of AP Automation, and now the feature is ready for primetime.

AP Automation is an add-on feature to Accounts Payable that automatically creates draft bills from bill documents that you email or upload to Sage Intacct. The system automatically populates details in Sage Intacct, using data from the original bill document, the vendor information record, and previous bills.

Once in the system, your team can review the drafted bills, make any coding changes or adjustments, and either submit for approval or post them. The program will inform you of any issues detected, such as a duplicate bill submission, lack of a vendor match, or a problem with the file format, so you can make the needed corrections before you post.

You must sign up for this feature separately, and nominal fees are associated with each bill submitted. Reach out, and we’ll get you all the details.

Filter available credits in Pay Bills

Another new feature for Accounts Payable is the ability to view available credits created within a date range using a new filter on the Pay Bills page. The feature will help you apply credits more quickly and accurately.

Cash Management

Creation rules now support VAT and GST transactions

For your VAT or GST-enabled companies, you can automatically include tax on journal entries and credit card transactions using a creation rule. This feature will save valuable time during reconciliation.

User Experience

Have you tried the Lists enhancement?

The List enhancement is still in beta, but Sage has made it available to all US-based companies in this release. However, you’ll find it only on the Vendors List for now. Just turn on the Lists beta interface to see how you can personalize your list views, leverage advanced filters, manage list and record details side-by-side, and much more.

Contracts and Projects

New functionality for subscription businesses

Subscription-based businesses gain new functionality in this release, including support for additional evergreen billing scenarios.

• Model different billing plans without affecting the subledger with a billing schedule preview.
• Clearer guidelines for best practices for contract journal configuration.
• Include variable usage charges in open-ended subscriptions.

And for project businesses

Project-based businesses will gain more control and visibility for managing projects with these new features:

• Assign Project Manager users permissions to create and edit order and quote type transactions.
• View the payment status and approval status of source transactions before generating project invoices.

Construction

Several new features in Construction are intended to help streamline workflows and increase project visibility. Now you can:

• Release and include billed retainage with your regular project contract billing when you generate a project invoice.
• View project contract billing details directly from your contract. View invoices, retainage releases, and payments for project contracts and project contract lines directly from the contract Billing details tab.
• Create, associate, and post Construction project contract price entries to General Ledger (GL) budgets. After associating the budgets with the project contract, you can include the GL budget entries on your financial reports.
• With this release, Sage added expanded custom reporting for Construction Payroll, adding reporting areas for Payroll Report Check Summary and Payroll Report Timecard Summary.

We’re here to answer any questions you may have about the new release; please check out the other resources available including our recorded webinar.