For the Sage Intacct R4 2023 Update, Sage unveiled a new offering, new features, and a new look. As always, the full Sage Intacct release notes are available but we will highlight a few banner features.
Sage Intacct’s New Look
“Nature’s first green is gold.”– Robert Frost
Back in June of 2022 Sage unveiled their new look and branding. At the time, President Aziz Benmalek repeated the phrase, “This isn’t just a change of symbol, it’s a symbol of change.”
The new release of Sage Intacct refines the look to have rounded buttons and more green accents to be more in keeping with the Sage color palette. This is clearly not the most important feature of this update, but it’s the most instantly noticeable.
Sage Intacct has one of the best consolidation features in the market. (Don’t believe us? Look at our Global Consolidations video on YouTube and come back after the amazement wears off. It’s fine. We’ll wait.)
For all its functionality – and seriously, imagine consolidating multiple entities in different base currencies and being able to have financial reporting in any currency you prefer! – there’s was one scenario that wasn’t available… until now.
What if you had a very, very complicated corporate structure where one company owned a percentage of another entity, which in turn had split ownership many times over? And what if you want to run reporting to reflect that distribution of proceeds?
In an increasingly global business world with evermore complicated ownership structures, this scenario was becoming more common all the time. Even organizations who might not need this functionality today can rest easy knowing that Sage Intacct automates these consolidations.
For so many organizations, this functionality leads the pack and is indispensable.
Machine Learning and AI Automations
Deciding on just one more feature to highlight was a tough call. We considered highlighting the newly announced Sage Construction Management Software or the timely 1099 processing enhancements but instead chose to highlight a quality of life improvement using technology that everyone can benefit from.
Sage Intacct already had the ability to set up Bank Transaction Matching rules. Setting these rules meant that bank reconciliations no longer required time-consuming ticking of boxes. A well crafted rule could automate that process, as described in the video below.
Some very smart people at Sage Intacct apparently though, “Well, if we’re already automating features in Sage Intacct based on what we see in the bank, we could probably do more.”
Now, all Sage Intacct subscribers can automate the booking of cash receipts noticed in the bank and applying it outstanding receivables for a given customer.
Think about that for a second.
With a little coaching from the user, Sage Intacct can be taught to understand what inbound banking activity can be attributed to any given customer. You can then automate receiving a payment or creating an advance, even going so far as to receive payments in bulk.
What a way to end 2023, and we look forward to even more in 2024. If you would like to know more about the Sage Intacct R4 2023 Update or are looking into implementing Sage Intacct we would love to help. Drop us a line at 855.913.3228 or fill out our simple web form and someone will reach out to you within 1 business day!