Sage Intacct 2024 Release 4 consists of new features and functionalities designed to streamline operations, simplify financial management processes, and enhance efficiency for your business. Let’s dive into what’s new in Sage Intacct and how you can leverage these exciting product updates.
Sage Intacct 2024 Release 4 highlights include:
- Sage Copilot Variance Analysis
- Enhanced Reconciliation of Payments and Credits to Invoices and Bills
- Employee Expense Automation
- Sage Intelligent Time Clock Functionality
- Customer Certification for Sage Intacct
Sage Copilot Variance Analysis: Early Adopter Opportunity
Sage Copilot Variance Analysis offers valuable insights into budget or prior period variances, enabling business leaders to proactively identify discrepancies and address potential spending concerns.
Key features include:
- Automated alerts when actuals exceed budget
- Real-time variance tracking
- Data visualization through easily understood graphs and charts
- Drill-down analysis to identify root causes of variances
- AI-generated variance descriptions
- Targeted data visibility into respective budget areas
As Sage continues to enhance Copilot, additional features will be introduced in future releases.
Sage is now offering a limited number of users the exclusive opportunity to be at the forefront of this technology through the Early Adopter program. This program allows a select group of customers to test new features and provide valuable feedback.
For further information on the Early Adopter program, contact us here.
Reconciliation for Payments and Credits to Invoices and Bills
With the new Customer Reconciliation and Vendor Reconciliation reports in Sage Intacct, you can easily track how payments and credits are matched to invoices and bills. These reports show the balance owed by customers or due to vendors, along with the specific payments and credits applied to each invoice or bill.
Whenever a payment or credit is processed, Sage Intacct assigns a unique match sequence to the corresponding invoice or bill. All related payments and credits use the same lower-case sequence to establish the connection. Once the invoice or bill is fully paid, the match sequence is updated to upper-case letters.
The Customer and Vendor Reconciliation reports provide clear visibility into:
- The payments and credits applied to each invoice or bill
- The specific transaction where credits were applied
- Which transactions share a match sequence
- Any transactions that remain partially or fully unmatched
Employee Expense Automation
Sage Intacct’s Release 4 introduces a new automated workflow for submitting employee expenses, saving time and ensuring greater accuracy. Employees can now easily email their travel or other receipts directly to Sage Intacct from any device.
Using artificial intelligence (AI), Sage Intacct automatically assists in coding the receipts. Additionally, machine learning (ML) helps streamline future submissions by remembering past adjustments, making the entire expense reporting process even more efficient.
How it works:
- Your employees email their receipts to a Sage Intacct email. AI technology populates the receipts with data.
- Then, the employee updates their receipts with more details or additional coding.
- When your employee creates their expense report, they can easily pull in all those receipts.
Sage Intelligent Time: Time Clock Functionality
Exciting news for all Sage Intelligent Time (SIT) users and managers! The latest update introduces Time Clock functionality, making it easier than ever to track employee hours. With SIT, employees can clock in and out, and Intacct automatically compiles their entries into a timesheet for submission and approval.
This feature ensures accurate tracking of work hours, including breaks, for precise timekeeping. It also helps businesses stay compliant with labor laws by automatically maintaining detailed records of hours worked and mandatory break periods for all employees.
Customer Certification for Sage Intacct
Are you a Sage Intacct accounting expert? Sage Intacct is announcing the first customer certification. This is open to customers who perform financial transactions and generate reports using Sage Intacct. The certification exam assesses your knowledge of Sage Intacct, and the skills outlined in the certification guide found in Sage University.
After passing the exam, you’ll receive a certificate and a badge. You can add these to your email signature, LinkedIn profile, and other platforms to enhance your professional brand and showcase your skills.
Want your own certification badge?
- Visit Sage University.
- Under Access complimentary training, select View complimentary courses.
- Find the Get Certified tile under Core Learning and select View details to learn more.
- Review the linked certification guide to get prepared. (Completion of the Sage Intacct Fundamentals course is highly recommended prior to taking the assessment.)
- When you’re ready, select Request to register for the assessment.
As Sage Intacct continues to evolve, your business can leverage these updates to enhance operational efficiency, streamline workflows, and gain valuable insights into financial performance. By staying up to date with each release, your business can fully leverage Sage Intacct’s capabilities and maximize its potential.
At CBIZ, we understand that each business has unique needs, and we specialize in designing intuitive, sophisticated accounting solutions tailored to support your organization’s goals. Let our team of experts help you leverage the power of Sage Intacct to meet your business objectives.
To learn more about how your business can simplify your year-end processes with Sage Intacct, email us.
