Top 3 Sage Intacct Bank Rec Secrets

Surprisingly, the bank rec is one of the main topics that come up in free Sage Intacct Interactive Demos. For every jaw-dropping feature like artificial intelligence to inspect journal entries or those stunning visualizations made possible in Sage Intacct in under five minutes, it seems like we always come back to basics. In this case, users are specifically looking at how to eliminate the drudgery of bank reconciliations. Are there any Sage Intacct bank rec secrets?

It turns out that yes, there is a way. It’s our goal to show how Sage Intacct can assist with bank reconciliations and maybe, just maybe, these tips won’t stay secret for long.

Number 1: Auto Reconcile with Bank Feeds

Included in the base subscription for Sage Intacct is the ability to connect your bank account to your Sage Intacct checkbook. Sage Intacct will automatically clear matching transactions (more on that later) to eliminate the repetition without losing internal controls. Sage Intacct will periodically match transactions in the background so even high-volume environments will benefit. Then all that’s left is looking at those transactions that need your attention.

Finally, letting the system handle the monotony of clearing those matching transactions frees up the accounting team to focus on exceptions. A faster monthly close and increased accuracy await.

Number 2: Fix Missing Transactions in Seconds

With Bank Feeds enabled, users will have both a Bank and an Intacct section within the bank reconciliation window. Toggling over to the Bank section will let users manually match a transaction if needed. Better still, users can click the actions section to book an entry to record interest income or bank fees in a flash.

It might not seem like this is revolutionary. However, other systems force users to exit the bank reconciliation and make entries elsewhere. Then trek back and re-enter the bank screens to see the changes. Multiply these clicks over multiple entries and bank accounts and the simplest reconciliations bleed a surprising amount of time.

Not anymore.

Number 3: Rule Sets to Set it and Forget it

Sage Intacct lets users create Rule Sets to REALLY leverage the system. Suppose you record your payroll transactions in detail, with one entry per employee. But what if your payroll provider withdraws funds in a lump sum? Other systems will not understand how to match those… but Sage Intacct will!

We dedicated a whole video to how this works because most people thought this was too good to be true.

So if you are struggling with Sage Intacct, looking for more content like these Sage Intacct bank rec secrets, or are running outdated legacy software and would like to see your options, we would love to help. Alta Vista Technology is the number 1 rated Sage Intacct VAR on the leading user review site G2 and has the tools and talent to take your accounting team to the next level. Give us a call at 855.913.3228 or fill out our simple web form. At Alta Vista Technology we take pride in being part of your solution.