Skip to content
Request a Demo
    10 / 14 / 2020

    What’s New in the Sage Intacct Release 3

    Sage Intacct Release 3 for 2020 is live and we are here to give you an overview of the new features you rely on to make your job easier. In Release 3, Sage Intacct is delivering automation and streamlining processes around credit card transactions and reconciliations, cross-entity allocations, and budgeting and planning. These are just a handful of what's new in the 2020 Sage Intacct Release 3.

    Bill Pay Enhancements:

    • Sage Intacct Bill Pay

      On the Pay Bills page, when you apply a credit for a payment, the Amount to pay field is automatically updated, eliminating the need for you to calculate this value manually.
    • If you need more flexibility, you can clear the Credits to apply and Amount to pay fields with two brand-new buttons located right above the transaction table. Click Clear credits or Clear payment amount, respectively, to clear the fields while maintaining any other payment updates you made for that transaction.
    • There's also more flexibility for creating partial payments. Previously, if you created a payment request for one line item, the rest of the bill would be locked for further payment until you completely paid off the selected line item (typically, when you print a check). Then, the rest of the bill would reappear on the Pay Bills page so you could complete the payment.
    • Now, you don't have to wait to complete the payment flow on a partial payment in order to pay off the rest of the bill. For example, say you have a bill with two line items—a line item for $100 and a line item for $50. On the Pay Bills page, you select $100 for payment and create a payment request. Even though you haven't printed a check for this payment or confirmed it to the GL, you can create another payment request for the remaining $50 line item. Pay off either payment request when you're ready.

    New & Improved Credit Card Reconciliation:

    Before, the Bank Feeds allowed you to reconcile your bank accounts. Now, Sage Intacct allows you to reconcile your credit card accounts. Allow Baker Tilly's Professional Services team to help you enable the Bank Feeds functionality for easier bank reconciliations and credit card reconciliations. The subscription is free for up to 200 connections!

    You’ll still be able to:

    • View matched, unmatched, or partially matched transactions
    • View transactions by Deposits/Credits, Checks/Debits, or All
    • Ignore transactions like zero dollar transactions; and even “un-ignore” them, as of May 2020

    Credit Card & Charge Payoff Workflow Enhancements:

    • Creating a charge payoff is now more intuitive than ever. With a cleaned-up and streamlined new look, the Charge Payoff Information page makes it easy to find the transactions you want and quickly post the charge payoff.
    • All the information you need to create a charge payoff is now on one single page. Two new fields, Reference number and Description, allow you to enter identifying information about the charge payoff. This information appears on the bill which is created after you post the charge payoff for further insight.
    • While reversing a transaction enables you to maintain an audit trail, there are some transactions you just don't need hanging around in your system. For example, you might have created a duplicate transaction by accident and need to delete it.

    New call-to-action

    Recurring Journal Entry - New Approach, New Look:

    This is in response to a popular idea from customers! For example, suppose that at month end you realize that one entry has the same or similar information every month, such as a straight-line amortization entry. While editing or viewing the journal entry, you can make this recurring, removing the need to repeatedly create the same journal entry. Use the original journal entry information and add a schedule.

    • You can generate a recurring entry from any journal entry that was posted directly to the general ledger.
    • When you use an existing journal entry to create a new recurring entry, the basic information gets pre-populated from the selected journal entry into the Entry section of a new Recurring Journal Entry, and a “Schedule” tab also becomes available.
    • From there, you create the recurrence schedule, which is an end-of-month recurring entry for the next 12 months.  Note the option to automatically reverse the journal entry, and the reversal schedule could be different than the posting schedule.

    Honorable Mentions:

    • Also in response to a popular idea from our customers, the budgeted balance sheet accounts change was made to better support budgeting for: work-in-progress inventory, capital expenditures, equipment purchases, and facilities.
    • Multi-Currency (Auto-create JE from the re-valuation report): When closing the period, it's common practice to run re-valuation reports to compute the unrealized gain and loss amounts for the period. Previously, you would need to export the data produced by the general ledger, AP Open items, and AR Open Items reports, and create manual journal entries from your revaluation report. Now, Sage Intacct automatically creates a draft journal entry, enabling controllers and finance VPs to complete the posting of unrealized gain and loss. This can be done across all entities using the same base currency, such that you need only run a single revaluation report for all entities instead of one per entity.
    • Multi-Entity: If you work in a multi-entity company, we're eliminating an occasional, but vexing frustration. If you inadvertently close your top level tab, you no longer need to sign in again if you have at least one entity open in a different tab. You can simply select your top level from the picker in that tab.
    • There are now two new configuration checkboxes in the Accounts Receivable module that prevent editing on AR transactions after they are printed or emailed. You can find the following new checkboxes on the Configure Accounts Receivable page (Accounts Receivable > Setup > Configuration) in the Enable functionality section:
      • Disable editing after posted transactions are printed or emailed
      • Flag as printed when any print or email option is selected

    Watch the On-Demand Webinar:

    On Thursday, October 8th, we hosted a live webinar outlining the updates with a lively Q&A.

    Watch the full on-demand webinar here >

    Baker Tilly is focused on delivering the future of finance and accounting to its customers. Baker Tilly  has three main solutions – Cloud Accounting Software, Managed Accounting Services, and Software Development, all built around Sage Intacct’s best-in-class financial applications. Our dedicated team of more than 100 ERP and accounting experts has helped nearly 1,000 organizations in the SaaS, Nonprofit, Faith-Based, and Oil & Gas industries optimize finance and accounting through software implementations, accounting outsourcing, and consulting. Baker Tilly  has been recognized as the Sage Intacct Partner of the Year from 2014 – 2019 and by our customers as a leader in overall satisfaction and popularity through their reviews on G2.

    Please contact us to learn about all that we can do for your accounting and finance department.

    Sample Eyebrow Text

    Explore More

    Baker Tilly curates, integrates, and optimizes the right technology stack for your organization. We layer in our own proprietary “last mile” solutions. And we offer these technologies either via a Software-as-a-Service delivery model, where your own Finance function manages the day-to-day use of the technology, or via a Finance-as-a-Service delivery model where we run your accounting operations and provide the outcomes you need. Here are some additional resources that may help you find solutions for your challenges. Or schedule a discussion to go over your needs and goals now.

    Request a Demo