Sage Intacct – 2022 R3 Release Notes

Welcome to 2022 Release 3. Watch the Highlights video or scan the Highlights list to get a quick view of what Sage has in store for you!

Highlights video (8:34)

Tour the release with VP of Product Management, Julie Adams

Highlights

Feature descriptionGo there
Core highlights
Streamlined electronic vendor payments Simplify your refund request workflow for virtual card payments. In the case where vendors don’t accept the original virtual card payment, the refund process enables you to put a block on the virtual card and redeposit funds back to your account.

And, get visibility into vendor discrepancies and how to correct them.
Vendor Payments powered by CSI enhancements Demo (12:11)  
Increased Dynamic Allocations flexibility
Enjoy improved Dynamic Allocation handling and functionality.
– Automate period allocations of revenue and expenditure.
– Support per dimension value allocation for Employee and Project.
– Enable restricted users to leverage Dynamic Allocations.
Allocations for restricted users Per-dimension allocations enhancement
Accounts Payable and Accounts Receivable enhancements
– Improved multi-currency support for AP Advances.
– Easily track an advance throughout its life cycle from the AP Advances page.
– Eliminate confusion and clarify tasks with a simplified Receive Payments workflow.
And more!
Enhancements to AP Advances Demo (6:46) Enhancements to Receive Payments Demo (5:31)
Canada Input Tax Credit (CITC) support
Get improved support for businesses operating in Canada. You can now easily partition out the exempt portion of the taxed expenditure in Purchasing transactions.
Support for Canadian Input Tax Credit Demo (3:04)  
Role-based dashboards for pre-built insight
Save time and get critical business information instantly with 6 out-of-the-box dashboards designed specifically for roles like AP and AR Managers, CFOs, Controllers, and Department Managers.
Role-based dashboards
ICRW – Time Series support
Create custom calculation columns for comparative analysis of specified time periods.
New time functions for ICRW and IVE Demo (7:42)  
Reconciliation rules—Create credit card transactions
Automatically create credit card transactions in Sage Intacct. New transactions match to bank transactions for reconciliation, saving you time and helping to eliminate the month-end close.
Automatically create credit card transactions for reconciliation Demo (6:08)  

Industry highlights

Auto-generate invoices in Contracts
Increase efficiency and remove a task from your billing process by scheduling automatic invoice runs. Create invoice policies with custom schedules and filters to target just the invoices you want to include.
Schedule automatic invoice runs Demo (2:57)  
Convert termed contracts to Evergreen
Last release, we introduced the evergreen contract type to manage open-ended contracts. In this release, you get the flexibility to renew a termed contract into an evergreen contract.
Renew a termed contract as an evergreen contract Demo (2:42)  
Construction enhancements
Get visibility into important project information and easily update new and existing Construction project contracts.
– Create and update information by duplicating or importing contracts and contract lines.
– View key project information at-a-glance on the main Projects tab.
– Easily access source transaction definitions from converted downstream documents.
Import construction project contracts Duplicate construction project contracts Primary document workflow improvements Demo (10:04)  
Introducing Sage Intacct Mateo Streamline and optimize savings and loan programs for Roman Catholic diocesan organizations with our new cloud-based application.
– Pay third-party vendors from savings and loan accounts.
– Combine deposits to streamline bank reconciliation.
– Generate monthly interest postings and bank statements.
Sage Intacct Mateo Demo (15:03)  

All changes

Below is a comprehensive list of changes made in Sage Intacct during the 2022 Release 3.

Company and Administration

AddedNew and updated permissions: We changed permissions for Accounts Payable and Time and Expenses.

Manage sandboxes: Users can now add, delete, and manage your company’s sandboxes.

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?

Mask vendor data in audit trail: We added an option to mask vendor bank details in the audit trail.

Add a custom currency: You can now enable custom currencies for your company that you can use to run reports on historical data with historical exchange rates. You can also add a currency that is not included in the ISO currency code list.
UpdatedName 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

AddedOpen attachments in a split view: You can now open and view your attachments on the same screen as the bill.
UpdatedUpdates to AP advances: Create multi-currency advances, track advances easily throughout the workflow, control access with more specific user permissions, and more—all within a refreshed user interface.

Vendor Payments: Learn about the new enhancements to Vendor Payments powered by CSI.

Expanding user ability: We expanded the abilities of Employee, Warehouse, Project Manager, and Platform users to make approving or declining an AP payment easier.

Bill automation: AP Bill Automation, our automated bill creation service, is in a closed Early Adopter program.

Accounts Receivable

UpdatedStatement and invoice enhancements: More customizations are available with enhancements to invoices and customer statements.

Enhancements to Receive Payments: This release brings you a simplified workflow, more visibility into auto-apply settings, and updated sections and labels.

Budgeting and Planning

NoteSage Intacct Planning: Sage Intacct offers an add-on module that greatly expands budgeting and planning capabilities. Learn more.

Sage Intacct Budgeting and Planning is an add-on application that offers a collaborative environment for creating and managing budgets. Talk to your account manager for more information.

Cash Management

AddedAuto-create even more transactions for reconciliation: Use creation rules to automatically create credit card transactions and save time during reconciliation.

Reconciliation transaction templates require IDs: Improve identification and organization of these templates by creating an ID.

Construction

AddedDuplicate project contracts: You can now duplicate both a Construction project contract in its entirety or duplicate a single project contract line with a corresponding project contract.

Import project contracts: Import Construction project contracts, and then import project contract lines and their corresponding entries, using new import templates for project contracts.

Primary document workflow improvements: Any downstream documents converted or removed from the primary set document (up to 10) now includes the primary document keys, even if they were created or removed before setting up the transaction definition as the primary document.

Contracts

AddedAutomatic invoice runs: Save time by using invoice policies to automatically schedule contract invoice runs.

Flexible contract renewals: You can now renew a termed contract to an evergreen contract.
UpdatedGuardrails for MEA allocations: Open revenue scheduled before a new MEA allocation effective date must now either be posted or rescheduled.

Standardized MEA adjustments: Intacct now handles MEA adjustments to Quantity-based revenue schedules the same way it handles MEA adjustments for other recognition methods.

Dashboards

AddedNew role-based dashboards: Companies using the General and Nonprofit QuickStarts can take advantage of brand new role-based dashboards right out of the box.

New SaaS Intelligence dashboard subscription: We’re introducing a new, fully-automated SaaS metrics tracking mechanism for Order Entry or Contracts users.

New insights for Services QuickStart: To provide deeper insight possibilities for companies in the Construction and Contracts industries, we’ve extended categories and account groups available in companies created with the Services QuickStart.

General Ledger

AddedPer-project and Per-employee in dynamic allocations: We’ve enhanced dynamic allocations to give you a per-dimension value in the setup.

Restricted users can now run allocations: We’ve enhanced dynamic allocations to enable entity-restricted users access to allocations within their entities.

Inventory Control

AddedPopulate subtotal dimension values: Use configuration options to control how to set dimension values at the top level in a multi-entity environment.

Simple Tax—Distribute entity-level subtotals: Use a configuration option to distribute the subtotals for transactions created at the entity level.
UpdatedCycle count enhancements: You can now update the quantity on hand of the items in a count to reassess its scope.

Format changes for easier Inventory configuration: We moved a few configuration options to group them more intuitively.

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.

Inventory item enhancements: We made some improvements to the item record and the import template: Behavior and label changes on the Inquiry tab
Replenishment label changes on the General tab
Columns for importing items enabled for landed cost distribution

Get the details on item enhancements.

Nonprofit

AddedIntroducing Sage Intacct Mateo: Sage Intacct Mateo helps Diocesan organizations streamline and optimize their savings and loan programs.
UpdatedBalancing Funds for Nonprofits: The NFP QuickStart template has been updated to include Traditional Fund Accounting designations for entities.

Order Entry

AddedInclude serial, lot, and expiration tracking details in sales invoices and returns: Learn about the new merge fields.

Populate subtotal dimension values: Use configuration options to control how to set dimension values at the top level in a multi-entity environment.

Simple Tax—Distribute entity-level subtotals: Use a configuration option to distribute the subtotals for transactions created at the entity level.
UpdatedFulfillment for sales order manangement: 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.

Platform and Customization Services

AddedPlatform triggers now generally available: Use platform triggers with both standard and custom objects to automate tasks.

Purchasing

AddedPopulate subtotal dimension values: Use configuration options to control how to set dimension values at the top level in a multi-entity environment.

Simple Tax—Distribute entity-level subtotals: Use a configuration option to distribute the subtotals for transactions created at the entity level.

Reporting – Advanced

AddedWe’ve added new time options to ICRW and IVE. It’s now easier to add custom time calculation columns for the comparative analysis of data over select time periods.

New objects for ICRW and IVE: Subscribers to Sage Intacct ICRW and IVE have a new Construction reporting area.

New objects for CRW: New objects expand reporting capabilities for Accounts Payable and Construction.

Sage Intacct Advanced CRM

UpdatedEvergreen support and Project updates: Evergreen contracts are now supported and Project sync gets an update in the Intacct Advanced CRM.

Taxes

AddedChange Avalara AvaTax company code: Administrators can change and update the assigned Avalara company code for an entity.

Canadian input tax credit: Reclaim taxes for purchases under the Input Tax Credit (ITC) rules with partial exemption.

Set default tax solutions: Assign a default tax solution to a customer or vendor to be used when you create transactions.
UpdatedUpdates for multitax companies and tax solutions: Check out our most recent improvements and updates for VAT and GST standard tax solutions.

Time and expenses

UpdatedExpanded user type permissions: We expanded the permissions for the Employee, Warehouse, Project Manager, and Platform user types to allow other users to create and edit the transactions in staff expenses.

User Experience

AddedThe future in lists: Get key improvements to more easily drill down to view required data. Learn more about new list features.

Learn Intacct as you use itNew page tours show key concepts for basic accounting tasks to help new users get up and running.

Updated user interface labels: We updated labels in Accounts Payable, General Ledger, Inventory Control, Projects, and Time and Expenses to improve clarity, accuracy, and consistency. Learn more about label changes.

Web Services

Dev PortalWatch the Sage Intacct Developers portal blog to stay up-to-date on great new features in Web Services.

For more information on the new Sage Intacct release, contact your assigned Account Manager or leave Acumen a message!

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