Sage has recently released the Sage Intacct 2024 R1 version update. The new release contains a wealth of highly anticipated features and enhancements including the introduction of the Sage Fixed Assets Management module, managing contact visibility and self-service account recovery.
Here’s a review of some of the Sage Intacct 2024 R1 highlights:
Sage Fixed Assets Management
Sage Fixed Asset Management is a new, complete module that effortlessly combines depreciation automation with accounts payable integration. The module streamlines asset lifecycle management, covering acquisition to disposal.
The new module includes important updates, including automated depreciation posting across many financial and tax books, and the addition of Asset Dimension for immediate asset spending evaluation. With the connection to accounts payable, users can seamlessly conduct an in-depth analysis for better informed decision-making and the ability to save vital time during month and year-end processes.
Domestic Consolidation Reporting
This new feature is custom-made for organisations that are subscribed to Domestic Consolidation or Advanced Ownership Consolidation without multi-currency transactions.
This update introduces a new transaction amount column in the General Ledger report, providing seamless access to linked transaction amounts with drill-down functionality to the source journal entry details. Users can facilitate thorough reviews and verifications of their financial data, assisting with the audit process and ensuring increased accuracy. Through increased confidence in their data, users can deliver powerful presentations anytime, anywhere.
Open BETA allows developers to explore and test the REST API before its actual release, providing the opportunity to deliver important feedback to the Sage Intacct team to further enhance the user experience.
For further information, please check the Sage Intacct Developer Portal.
The versioning update enables users to control previous report history to troubleshoot and restore functionality if a financial report no longer meets their requirements. With versioning, users can seamlessly manage previous versions of reports and recognise any changes, including identifying users that have previously completed any modifications. This new enhancement allows users to restore current reports to previous versions and evaluate these version results, allowing for an depth understanding of modifications. With improved modification tracking and restoration abilities, versioning ensures significant accuracy and control over the report management processes.
Users can now see bank reconciliation matching results through a comprehensive report. Building upon previous releases, this update establishes custom report generation, allowing users to effectively trace transactions in Sage Intacct matched to bank transactions. This enables quick evaluation of in-process and confirmed matches, speeding up financial closes and improving financial management productivity. This is ideal for finance teams that spend a lot of time physically checking transactions in Sage Intacct and want to speed up their financial close.
Manage Contact Visibility
Users can now restrict the list of selectable contacts for an accounts payable transaction to those associated with a supplier record or those associated with the supplier selected for the transaction. This streamlines the list of contacts available when entering a transaction and reduces the likelihood of data entry mistakes. Prior to the 2024 R1 update, when entering an accounts payable transaction, a user's only option was to choose from all active contacts in the Pay to and Return to dropdown lists. With the new configuration setting, users can select which contacts are available for selection.
New Email Address Specifically for User Accounts
This new feature creates streamlined email address enhancements for both company admins and individual users in Sage Intacct. Company admins now have the ability to directly update the new account email address, whilst individual users can manage their email addresses easily through the 'My Preferences' page. This improves security measures by limiting access to the new account email address, ensuring it's only available to selected users and company admins, and improves privacy and protection against unauthorised access, safeguarding sensitive account information.
Self-Service Account Recovery
Sages’ new Self-Service Account Recovery allows users to regain access securely and quickly to their accounts. This seamless experience allows users to reclaim their accounts in minutes and minimise downtime, ensuring peak productivity while maintaining security.
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