Consulting Services, Technology Services Sage Intacct Tips & Tricks: What’s New with 2020 Release 1?
by Skye Duhon 
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In today's unprecedented business environment, your company may be evolving and adapting rapidly. With key employees working remotely and financial leaders making crucial decisions, there's a pressing need for accurate insight, greater control, flexibility, and speed. Sage Intacct’s first release for 2020 adds an abundance of new features that help you work more efficiently; saving time and supporting common use cases.

Watch our short release highlights video or continue reading this article for a better understanding of the main features in this latest release.

Overview of Release Notes

Here is a brief overview of some of the main features we feel will enhance your day to day processes within Sage Intacct. We will go into more detail regarding our favorites below.

Application

Type

Addition or Update Description

All

 

Added

Sticky column headings: With sticky column headings, column headings now remain visible as you scroll down through a table.

Added

Shortcut to list page in Action: You can quickly return to a list page from a detail page by simply clicking the list icon to the left of the page.

Accounts Receivable

 

Added

Application of inline credits: You now have the option to enable automatic application of inline credits to Accounts Receivable.

Added

Waterfall payment method: Sage Intacct uses the new waterfall method to automatically determine how both partial and full payments are applied to invoices.

Cash Management

 

 

 

Added

Reopen a reconciliation: Using the new bank reconciliation process, easily reopen a reconciliation for those times when you need to correct an error within a closed reconciliation.

Added

Create Journal Entries: You can now create journal entries from an individual line item in a reconciliation.

Updated

Matching Improvements: Now, the auto-match process excludes any transactions you already manually unmatched for smarter functionality.

Soon-to-be removed

Old bank reconciliation: The old Bank Reconciliation task is being RETIRED in an upcoming release.

General Ledger

Added

Add attachments to journal entries from the list: You can now add or access attachments directly from a journal's View Transactions list view with just one click.

Projects

Updated

Project Billing - Include reversed transactions: When generating project invoices, you can now include reversed transactions for Accounts Payable bills and employee expenses.

Purchasing

Added

Allocate shared costs with just a few clicks: transaction allocations are now available in Purchasing.

Interactive Custom Report Writer

 

 

Updated

When you subscribe to ICRW, you can upload your company logo for immediate use on your reports.

Updated

The object glossary now has additional objects for use in the ICRW.

Updated

When you add an ICRW report to a dashboard, the ICRW report now responds to your selected As of date.

Overall Enhancements

Within the Action UI, you will notice several overall enhancements with the 2020 Q1 Release. Our favorites are described in more detail below:

Shortcut to List Page

You can now return quickly to a list page from a transaction page (such as an Add Bill or Edit Bill page). Simply click the list icon to the left of the page title to do so.

Sticky Column Headings

With this new feature, you will notice that the column headings remain visible (or "sticky") as you scroll through a lengthy table.

Important: This feature currently only applies to lists, such as record or transaction lists.

General Ledger Enhancements

Within the General Ledger module, Intacct delivered an enhancement that was a popular request among users. This enhancement should help you with efficiencies related to support for your journal entries and audit requests. The new feature is described in more detail below.

Adding Attachments in Bulk

You can now add the same supporting document to multiple journal entries with a few quick clicks. Within the list view, select the check box to the left of the appropriate journal entry and select the “Attach” button above the list.

Quickly View Attachments

Within the list view, you can now select the paperclip icon to quickly and easily view the attachment without having to click into the journal entry transaction.

Cash Management Enhancements

Within the Cash Management module, Intacct delivered a bundle of enhancements that should help you with efficiencies related to reconciling your bank. A much-anticipated change with the 2020 Q1 Release is the ability to reopen a reconciliation! This is described in more detail below.

Important: The previous bank reconciliation task is set to retire in 2020 R2, so now is your chance to familiarize yourself with the new bank reconciliation in the Action User Interface!

Reopening a Reconciliation

Before reopening a reconciliation, make sure to:

  • Have the appropriate user/role permissions.
  • Make the appropriate corrections inside your company.
  • Save a record of your cleared and open items.
    • Go to the Reconciliation History page (Cash Management > All > Reconciliation, and click View reconciliation histories) and use the links to generate a Reconciliation Report and an Outstanding Items report.
  • Review bank feeds.
    • If you are reopening a reconciliation performed using import in the new bank reconciliation process, and are now using bank feeds, make sure you have the original CSV file. You will need to re-import the file.
    • If you don't have the original CSV file, download the Reconciliation Report as a CSV or Excel file. Update and save the data as a new file before you import it again.

Then, reopening a reconciliation is as easy as going to Cash Management > All > Reconciliation > View reconciliation histories. Here, you will now see a “Reopen” link beside the checking accounts that have been previously reconciled.

We hope this video and article help you get accustomed to a few new features that may be useful in your daily, weekly, or monthly accounting tasks. For additional information on new release features, as well as other Sage Intacct Learning resources, visit the Sage Intacct Learning Center.

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