Sage Intacct 2023 Release 2: Highlights, Features, and More
Sage Intacct 2023 Release 2 brings more exciting new features focused on ease of use, extended functionality, and control. These features include the ability to quickly create expense reports from existing credit card transactions, unify accounting, payroll, and HR for better insights, and lock closed statutory reporting periods to maintain consistent reports. Additionally, new features will provide extended functionality for construction and contracts, and the ability to easily drill down into financial reports to view transaction-level details.
Core Highlights
Ease-of-use
Quickly create expense reports from existing credit card transactions (US only). Combine payments, and credit applications in one CSV import.
Extended functionality
Unify your accounting, payroll, and HR for better insights, faster processes, and increased profitability with Sage Intacct Payroll (US only). Up-level your processes with Construction and Contracts enhancements.
Control
Securely lock closed statutory reporting periods to maintain consistent reports. Easily drill down into the heart of your financial reports to view transaction level details.
Notable features for this release
Link credit card transactions with employee expense reports
Have credit card transactions flow from Cash Management to Employee Expenses, where you can easily include them in expense reports for faster data entry. Perfect if you use a corporate card for expenses, this feature helps automate your employee expense creation process.
Edit the reversal date on posted payment reversal transactions
Previously, after you specified a reversal date for a posted payment, you couldn’t update the information. Now you can, by selecting Enable edit of reversal dates in the Accounts Receivable configuration page.
To better control who can edit transactional information, after you enable the setting you’ll need to assign user or role permissions. This requirement gives you the ability to decide who has access to editing reversal dates.
Edit the reversal date on posted payment reversal transactions
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. Link the entire change request to a project contract line, regardless of the project contract line on the change order. In all cases, the project contract on the change order, change request, or change request entry must match, but the project contract line can differ.
Invoice product bundles as a single line item using kit items
SaaS companies often use product bundling, a marketing strategy that can potentially increase sales for you and save money for your customers by combining products in a package deal. Previously, you needed to manage product bundles as individual contract lines in a contract. Now, you can group two or more products or services on a single item SKU and invoice the kit as a single line item.
Lock closed statutory reporting periods to prevent reopening
After you close your books for a statutory reporting period, you can lock the period so that it cannot be reopened. You can then produce official reports for the period with confidence, knowing that the information in your system will remain in agreement with those reports.
Introducing partial ownership through tiered consolidation
In 2023 Release 2, Sage Intacct presents a new early adopter feature: partial ownership through tiered consolidation. This feature streamlines the consolidation process at the entity level by period and includes ownership percentages as part of consolidation. By simplifying multi-level consolidation through partial ownership, Sage Intacct helps your business to save time and resources while enhancing accuracy and efficiency. Learn more here.
All Changes
Below is a comprehensive list of changes made in Sage Intacct during the 2023 Release 2.
Company and Administration
Intacct now sends an email when a user is locked out: When a user is locked out of Sage Intacct, the user receives an email to let them know that they are locked out and that an admin can reset their password.
SIREN and SIRET now supported: Sage Intacct now supports SIREN and SIRET, unique identifiers for companies in France.
New permissions: We added new permissions for Accounts Payable, Accounts Receivable, General Ledger, Order Entry, and Purchasing.
| Migrate to multi-entity: We’re migrating select single entity companies to multi-entity companies with a top level. Will you be among the first to upgrade? |
Name and ID your entity: We’re upgrading select single entity companies to multi-entity companies with a top level. Now’s your chance to name and provide an entity ID for your newly upgraded entity. |
Accounts Payable
| Pay from the Bills list: Save time by paying individual bills directly from the Bills list, in multi-currency companies. |
| Vendor list enhancement: Now when you drill into a vendor name from the Vendors list, the vendor information record opens. |
Accounts Receivable
Edit reversal dates: You can now edit the reversal dates on posted payments to correct information. |
| Apply credits and line level payments in bulk: Use the CSV import template to input payment and apply credit data, then import them into Intacct. |
| Customer list enhancement: Now, when you drill into a customer name from the Customers list, the customer record opens. |
Enhancement to dunning notices: You now have the ability to filter by customer group when sending dunning notices. |
Date format options for email templates: Send email with dates in your users’ preferred format. |
Budgeting and Planning
Sage Intacct Planning: Sage Intacct offers an add-on module that greatly expands budgeting and planning capabilities. Learn more.
Cash Management
| Bank transaction dating: Determine how bank feed transactions are dated by setting the time zone on the bank account in an Early Adopter program. |
| Employee expenses from credit card transactions: Create non-reimbursable expenses from existing credit card transactions to speed up data entry. |
| View more data from a bank feed transaction: New data fields are available on the Bank transactions list to show you even more information. |
UK bank file updates: We introduced two new bank file formats to support Virgin Bank and require the BACS reference field. |
Creation rules support inter-entity transactions: Save time reconciling by automatically creating IETs with creation rules. |
Consolidation
Introducing partial ownership through tiered consolidation—Early Adopter: We’re previewing a new financial consolidation offering that supports different entity ownership percentages and multiple levels of consolidation through defined parent-subsidiary relationships.
Construction
| Integrate Construction project contracts with change requests: Choose additional levels to link a change request or change request entries to a Construction project contract line. |
| Project commitment tab: Show all project commitments (purchase order and subcontract orders) within a project. You can then examine the linked project order documents. |
| Reverse conversions in Purchasing: Enter opposite values on entry lines when converting a purchase order or subcontract document. |
| Summarize time and materials billing for Construction project contracts: Summarize all expenses for a Construction project contract line to a single entry on the project contract invoice. |
Contracts
Use kits for product bundles: Combine two or more products or services in a package deal using kit items and invoice the kit as a single line item. |
New Sample contract invoice printed document templates: Download and customize these sample invoice printed document templates tailored specifically for contract invoices. |
Improved user interface gives more insight into renewals: New fields in the user interface and reports show when your contract renewals are expected to occur. |
Dashboards
| Role-based dashboards for Service Industry: Companies using the Service Industry QuickStart can take advantage of new role-based dashboards. |
General Ledger
| Lock closed periods: You can lock a closed period to help ensure that your records for the period do not change, and so remain in agreement with reports you produce for the period. |
| Include subledger transactions in the journal entry audit trail: We’ve added new ways to track changes to transactions posted from subledgers. |
Inventory Control
Fulfillment for sales orders: We’re continuing to offer fulfillment (Pick, Pack, Ship, and Invoice) in an Early Adopter program. |
Commit quantities during order entry: We’re continuing to offer the ability to dedicate quantities for specific orders in an Early Adopter program. |
Lease Accounting
General availability: Lease Accounting is now generally available to all users. |
Nonprofit
New reports for the UK: Install UK-style balance sheet and statement of financial activities directly from the reports library.
Order Entry
Fulfillment for sales order management: We’re continuing to offer fulfillment (Pick, Pack, Ship, and Invoice) in an Early Adopter program. |
Commit quantities during order entry: We’re continuing to offer the ability to dedicate quantities for specific orders in an Early Adopter program. |
| Specify location and department in subtotals at the top level: For companies that have upgraded from being a single-entity company to multi-entity, enable a new configuration option that lets you set these dimensions in the subtotals. Continues to be available under Early Adopter program. |
Payroll
Sage Intacct Payroll powered by ADP is now generally available: Sage Intacct Payroll is a best-in-class payroll and human capital management (HCM) solution that integrates seamlessly with Sage Intacct. |
| Sage Intacct Construction Payroll: Use Construction payroll functionality to automate and simplify payroll tasks associated with Construction projects. |
Purchasing
Specify location and department in subtotals at the top level: For companies that have upgraded from being a single-entity company to multi-entity, enable a new configuration option that lets you set these dimensions in the subtotals. Continues to be available under Early Adopter program.
Reporting - Advanced
Interactive Custom Report Writer (ICRW): Updates to ICRW allow you to quickly access customized views with the View Selector, and take advantage of enhanced runtime prompt functionality with Run Interactive prompts.
Reporting - Financial
Drill down through account groups: You can now drill down through account groups to transaction level details.
Sage Intacct Advanced CRM
Selective sync for Contracts and other updates: The Advanced CRM Integration now allows you to sync the Contract header or lines independently from each other. There have also been some minor updates to Evergreen Contract settings, and Tasks and Projects sync. Learn more!
Taxes
| TPAR for Australia: Use Sage Intacct to generate your Taxable payments annual report, based on payments made to applicable vendors. |
Time and Expense
Sage Intelligent Time enhancements: Track employee time across multiple entities and sync data in real time. |
| Employee expenses from credit card transactions: Create non-reimbursable expenses from existing credit card transactions to help eliminate reconciliation. |
User Experience
More information is available on the Subscriptions page: You can learn more about specific subscriptions from within Intacct.
Lists enhancements: Get key improvements to more easily drill down to view required data. Learn more about the enhanced list features. |
| We updated more import templates: We’ve updated three more import templates the Excel format for ease of use. Learn more here! |
| Updated user interface labels: We updated labels in Consoles and Contracts. Learn more about label changes. |
Web Services
| Watch the Sage Intacct Developers portal blog to stay up-to-date on great new features in Web Services. |
And Much More!
For all the specifics, in-depth descriptions, and demonstration videos of the improvements coming to the product, see to the complete comprehensive list of changes made in Sage Intacct 2023 Release 2.
