Sage Intacct R3 Release is now accessible for users everywhere!
The latest version is jam-packed with new features that streamline vendor payments, enhance General Ledger allocations, expand on the collection of pre-built dashboards, and more.
Here are a few highlights from the Sage Intacct R3 release:
Make Allocations Easier!
Per-dimension allocations enhancement allows for both Employees and Projects to be allocated more efficiently. This is useful when you need to focus the allocation basis per-employee or per-project but don’t want to maintain individual allocation definitions. There’s no need for individual allocation definitions for each employee nor each project.
By using the dimension treatment of Per dimension value, you can set up the allocation definition Source and Basis options to use all values or dimension group (based on your filter selection). This tells Sage Intacct to perform an individual allocation per dimension value within that dimension selection.
For ease of traceability, Sage Intacct uses the single allocation definition to generate a journal entry for each “per-dimension” dimension value.
For example, suppose you’re allocating fringe based on labour hours per employee. Instead of creating and maintaining separate allocation definitions for each employee with the source and basis (and having both filtered per employee), you can select Per dimension value. Intacct automatically cycles through each employee—based on the filter criteria—and creates one allocated entry per employee.
Enhanced Accounts Payable and Accounts Receivable
There have been several improvements to Accounts Payable Advances within the New Sage Intacct R3 Release! You can now create and track advances faster and more efficiently with multi-currency support, better control of summary frequency, and new user permissions that are clearer and allow finer granularity.
Improvements have been made to the AP Advances user interface providing the familiar appearance and functionality Sage Intacct users have been used to seeing on the Bills list and Bills page.
Accounts Receivable functionality has also been improved to ensure receiving your customer payments is easier. Such enhancements include simplified workflows, better visibility into auto-apply settings, and clearer sections and labels.
There has also been changes to statements and invoices, specifically allowing for higher levels of customization across both types of document.
If your company is multi-entity, you can now set dimension values for the subtotals at the top level. With this capability, you can generate financial statements with all the amounts assigned to the desired dimension values. Previously, the dimensions in the subtotal lines were only editable for transactions created at the entity level.
For top-level transactions, you can use the dimension values from the line items for the subtotal lines, edit the subtotal lines to select dimension values, or use a combination of both.
If you would like to see a full additions and updates list from the Sage Intacct R3 Release, click here, or get in touch with us and speak to a dedicated Sage Intacct Consultant on 0330 043 0140 or email us at firstname.lastname@example.org.
If you are not a current Sage Intacct customer and would like to learn more about the product, organise a free personalised demonstration, or register for our next Sage Intacct Workshop!