Sage Intacct 2024 R1 New Release Information

Sage is constantly updating its software to make sure it gives customers what they want. With the release of Sage Intacct 2024 R1, we’ve been reviewing the changes you need to know about.

In this release, there are several new features that learn from your specific processes, while also making your data easier to interpret across the board.

Please note: This article is specifically referring to the United Kingdom release. If you’re based in another country, you may not have access to all the features mentioned here.

Top Enhancements

Accounts Payable – More dynamic dimension coding (early adopter only)

With the latest improvements, rather than automatically populating line item dimensions in draft bills based on the coding you used in the most recent bill from the vendor, AP Automation can now detect patterns in how you select dimension values for individual line items.

Over time, Sage Intacct can then create draft bills that include your most-used dimension values. You spend less time correcting coding details and can post bills more quickly.

Accounts Receivable – Simplified Contact Lists

Lessen the chances of data errors by limiting what contacts you can select for an Accounts Payable transaction. You can limit contacts to those associated with a vendor record, or those associated with the vendor selected for the transaction.

Cash Management – Bank Transaction Dating

You can now set different time zones for specific bank accounts, meaning you don’t have to deal with inconsistencies at the reconciliation stage.

Consolidation – Advanced Ownership Consolidation Report

This new custom report brings important parts of your review and audit process together onto one screen, including:

• Consolidation exchange rates
• Exchange rate dates for historical accounts
• Dimensional data that’s included in the consolidation

This means drilling down into specific areas of data in the journal, and grouping/sorting data is easier.

Contracts – ‘Cancel’ and ‘Uncancel’ Permissions

Cancelling and uncancelling contracts now have more permissions attached to them so that these important functions are better protected:

• Cancel: Lets the user terminate contracts or contract lines.
• Uncancel: Lets the user uncancel contract lines. The process sets the contract line back to ‘In progress’.

You can now grant specific access to one or both actions to the applicable users or roles.

General Ledger – Import Templates

You can now download import templates directly from the import pages for the following types of import:

• All types of journal entries, including adjustments, entries for user-defined journals, and statistical entries
• Account groups
• Account group members
• Reporting accounts
• Account allocation definitions
• Account allocation groups
• Budgets

Purchasing – Approval Notification Emails

Users who submit Purchasing transactions for approval now receive an email notification when the transaction is approved or declined. This ensures that there’s less of a delay in transactions getting approved – even if it was created automatically by the system.

If you have any questions about Sage Intacct 2024 R1 please get in touch by filling out an enquiry form or call us on 01332 959 008.