The next quarterly update of the Sage Intacct platform is due to be released on February 17 2023. Check out the details below on what new features are being introduced 2023 Release 1:
Process Invoices Faster
2023 Release 1 (R1) offers a more streamlined workflow for Accounts Payable, and for Australian customers, this workflow will be made available via an early adopter program. This new workflow consists of AP Bill Automation and Payment Automation, whereby users will be able to send bills to Intacct via email or upload, and Intacct will then use AI and machine learning to automatically create draft bills which can then be reviewed and approved. Sage expects this automation will reduce AP processing time by up to 50%.
Save Time Paying Bills
Release 1 also offers new features to help apply credits when paying bills. On the Pay AP purchase invoices page, you can quickly view available credits created within a date range using a new filter – allowing you to just apply the credits you want. To illustrate, if you are paying AP invoices for January, you can use this filter to only apply credits that have transaction dates in the same month.
Transaction Templates For GST
Sage Intacct now allows you to define transaction templates to reflect your GST needs. This means that the tax is accounted for, so you do not need to adjust the transaction afterward – saving more time and reducing errors during bank reconciliation.
Flexibility For Subscription-Based Businesses
Release 1 improves the usability and flexibility around contracts for subscription-based businesses, including providing support for evergreen billing scenarios. Among the enhancements, Sage has introduced a new Billing Schedule Preview that you can access when creating or editing a contract line. This preview will show you the projected scheduled billing dates and corresponding invoice amounts.
Greater Control and Visibility for Projects
For project-based businesses, Release 1 allows you to assign Project Manager users permissions to create and edit order and quote type transactions. Furthermore, the payment and approval status of source transactions can now be viewed before generating project invoices.
Please note that some of these improvements will lead to changes in configurations and permissions, so be sure to speak to your Account Manager about enabling them.
Keen to learn more? Click here to view the 2023 R1 Release Notes in full and stay tuned to our blog for further updates about Sage Intacct in 2023.