Sage Intacct 2023 R3 Update Recap

If the August Sage Intacct update had a theme, the theme of this release is simple: We Listen to Our Users.

The Sage Intacct 2023 R3 update includes updates, some big and some small, that were most requested by end users that improve the quality of the experience. The full release notes are available online, but a sampling can be found here.

As an added twist, this write-up will focus on all things revolving around payables. Make no mistake, you will find improvements to receivables, contracts, projects, and more. But this will showcase the payables side of the house.

Vendor Approvals

One core feature of Sage Intacct is the inclusion of Smart Rules. We have example Smart Rules online, but for those unfamiliar, Sage Intacct allows for users to make rules to require or prohibit certain interactions. Maybe you want to make a vendor’s Tax ID number required, but only if the vendor is marked as a 1099 Vendor. Smart Rules can do that!

It’s also possible to use those rules to essentially approve new vendors. It would be possible, albeit tricky, to have a vendor approval process within Sage Intacct. Certain industries require vendor approvals as part of their compliance, so this is not an uncommon request.

Now, it’s even easier.

With only a handful of checkboxes, Vendor Approvals can allow users to submit a vendor to be approved, helping with compliance, and making this option available for anyone with that requirement.

Construction Vendor Compliance

Those subscribing to the Sage Intacct Construction and Real Estate (CRE) module know how hard it can be to manage vendors. When working with subcontractors, for example, the contractor often has to track licenses or insurance policies. A subcontractor might start out in compliance, but if their insurance or certifications lapse, then a host of regulatory problems are sure to follow.

Introducing: Construction Vendor Compliance.

Now, for any vendor in the system, users can enter one or more records to track. Then, when a vendor falls out of compliance, Sage Intacct will either warn the user or block payments to that vendor until compliance information is updated.

A handy feature, to be sure, that can be a lifesaver in a fast-paced environment with far too much information to track by hand.

Purchase Order Tolerances

When it comes to purchasing, Sage Intacct has long had PO approvals. Imagine a requisition being routed to any number of people automatically to be approved, then allowing for the process to continue according to the requirements of every individual organization. Pretty great, right?

But what if a single approver has a backlog of documents queued up to approve? An approver moving quickly might incorrectly approve something in error. Enter, Purchase Order Tolerances.

In a per-document setup, an administrator can stipulate a dollar or quantity limit for a tolerance. By doing that, any document needing approval will be flagged as having an exception, and even draw attention to the line items that changed materially.

Giving a little extra help to approvers is a good thing, right?

If you are looking to make the jump to the cloud and are interested in how Sage Intacct can elevate your accounting team we would love to help you! Give us a call at 855.913.3228 or fill out our simple web form and someone will get back to you within 1 business day. If you need help with the Sage Intacct August 2023 Update or are lacking support we would also love to be your Sage Intacct partner. At Alta Vista Technology we take pride in being part of your solution!