Note: full release notes can be found here.
Curious about Sage Intacct's 2018 R4 release? We’ve summarized the numerous new features as briefly as possible, with links to relevant videos and demos.
As Julie Adams, VP of Product Management at Sage Intacct, reiterated in her video summarizing the new R4 release, “our goal is to be the first and last cloud financial management solution you’ll ever need.” This release helps Sage Intacct continue with its constant improvements; it dramatically expands budgeting functionality, offers assistance for nonprofits dealing with new revenue recognition guidelines, introduces an interactive custom report writer, allows automated periodic allocations for account balances, adds more scalability to Advanced CRM Integration, and much more.
The 2018 R4 release includes four new modules! We’ve summarized each below:
1. Not-for-profit Revenue Recognition
Nonprofit revenue recognition guidelines are changing, and that means there's a need to introduce new functionality for nonprofits using Sage Intacct. The 2018 R4 release steps up to the plate by offering revenue recognition subscription functionality to help nonprofits begin compliance.
The new Not-for-profit Revenue Recognition subscription helps nonprofits automate revenue deferral and revenue recognition. It includes customizable revenue recognition templates and a range of recognition methods such as milestone, installment, or event-based. This functionality will help not-for-profits avoid difficult and time-consuming spreadsheets to track information according to the new guidelines. The automated functionality ensures revenue treatment accuracy and consistency. For more details, check out this overview video created by Katie McCloskey, Principal Product Manager at Sage Intacct.
2. Budgeting and Planning
Leah Sperer, Product Manager at Sage Intacct, sums up the new budgeting and planning module: “we built it for everyone, not only for finance teams, who are naturally involved in the planning process, but also management teams or board members, and basically anyone who needs or receives planning data.”
In order to help everyone in the organization be involved in budgeting and planning, the new cloud-based Sage Intacct Budgeting and Planning module can be quickly deployed and is easy to use. The module helps organizations with forecasting and complex budgeting needs, facilitates a high level of collaboration to streamline the process, and includes features such as dashboards and user-based security roles. Learn more by watching the rest of Sperer’s overview or checking out the demo video.
3. General Ledger Dynamic Allocations
The new General Ledger Dynamic Allocations module automates periodic allocations of revenue and expenditures. As Katie McCloskey explains, this dramatically extends the financial solution’s core allocation capabilities “beyond just transaction allocations to being able to allocate based on account balances.” Sage Intacct developed this new module after recognizing that “periodic allocations are often complex and involved, time-consuming manual processes.” With Sage Intacct General Ledger Dynamic Allocations, organizations can automate these processes in order to save time, reduce errors, and increase auditability. For more details, watch the rest of McCloskey’s overview.
4. Interactive Custom Report Writer
The new Interactive Custom Report Writer allows users to “build simple to sophisticated reports with power, flexibility, and ease.” With powerful calculations, easy to create pivot tables, and drag-and-drop fields, the new module shows the real-time results of reports as they’re being built. This interactive functionality takes the idea of real-time data access one step further by showing what’s happening within a report even before it’s been completed. To learn more, watch this overview video by Roy Mitchell, Principal Product Manager at Sage Intacct, or check out the report writer demonstration.
Enhancements Across Existing Modules
In addition to the introduction of four new modules, the Sage Intacct 2018 R4 release contained numerous smaller enhancements within existing subscriptions. Contracts, Advanced CRM Integration, Inventory, and Project Accounting all received updates and improvements to their functionality. Here’s a bulleted list with links to videos when available.
Manage operational data with more flexibility within Digital Board Books
Streamline contract hold/resume and invoice generation
- Advanced CRM Integration
Historical order entry transaction sync
Standard field mapping overrides
Renewal billing enhancements
Billing price list sync
Improved handling of merges and deletes
If you have any questions about how your organization might leverage some of the new functionality, feel free to contact The Resource Group for information.