One of the advantages of Sage Intacct, the industry-leading cloud financial solution, is that it gets better every quarter when the company issues its new releases. The 2019 Release 4, which goes live on Nov. 22, is typical in that it adds new features and enhancements that respond directly to the needs of businesses and nonprofits.
You can view highlights of 2019 Release 4 through this video, and we’ll summarize three of the many improvements here.
More flexibility with contracts
Subscription-based businesses depend on contracts, and in the new release, Sage Intacct has added more contract flexibility and support for managing all performance obligations under a single contract. You can now create new contracts, add new lines to posted contracts, and manage renewals in draft mode, which gives you more flexibility to make adjustments before the contract is posted.
In 2019 Release 4, Sage Intacct has also enhanced how contracts and projects work together, so you can generate contract invoices by project and allocate billable projects as you’d like. Automated tools for MEA and ASC 606 timing rules are also available to save you time and money.
Save time with new Task dimension
Up till now, Sage Intacct users could only capture task hours from timesheets. Other transactions, like purchases and bills, were project only. That changes with the new release’s addition of the Task dimension, which you can enable to add a task field to transaction screens.
This means that you can select both a project and a specific task within that project as part of your normal data-entry process. You can then report on projects at a more granular, task-specific level. This time-saving improvement is one of many updates in the new release that were suggested by Sage Intacct users.
Streamline reporting with over 60 prebuilt reports
The Interactive Custom Report Writer (ICRW) is a popular feature that just got better, with an expanded report library and object glossary that helps streamline the interactive custom reporting experience and provide added clarity around reporting data objects.
The expanded report library contains new out-of-the-box reports across all application areas. Use the reports as-is or copy reports in the report library and customize them for interactive reporting and data analysis. To improve the object glossary, Sage Intacct has added descriptive labels to each of the reporting areas so you can get the right data without delay.
Get more out of Sage Intacct
The Sage Intacct experts at Michaud Accounting Solutions can help you explore the new features in 2019 Release 4 and decide which ones to integrate to your accounting processes. We have the experience and expertise to help you manage your financial operations and solve your business challenges, now and into the future.