Sage Intacct 2022 R3 Improves Dashboards and Accounts Receivable Automation

Role-based dashboards, accounts receivable improvements, and contract automation are among the powerful features designed to help finance teams save time in the recent Sage Intacct 2022 R3 update, which went live on August 19, 2022.

In R3, organizations that use Sage Intacct QuickStart company templates gain the ability to use pre-populated, role-based dashboards for CFOs and controllers, as well as for managers including accounts payable, accounts receivable, and other functional departments.

These pre-formatted and customizable dashboards provide a good starting point for organizations that are interested in harnessing the power of data dashboards in analyzing their financial performance, but may not have been sure where to start or unfamiliar with the metrics and features they can add to dashboards. In R3 these dashboards are available for Nonprofit and General QuickStart template companies; we expect to see more role-based dashboards for Service businesses in an upcoming release.

R3 also simplifies accounts payable workflows by creating a new side-by-side view that allows the financial team to review an attached bill directly on screen, instead of opening an attachment. This will allow team members to see transaction details at a glance, instead of having to flip between windows, print an invoice, or resize an on-screen invoice to read it easily.

This side-by-side view is currently available only for bill review, but this functionality will likely be expanded to other attachments within the platform as part of future releases.

R3 also improves accounts receivable processes by allowing finance teams to quickly list all open invoices from a specific customer, and to apply payments on multiple invoices quickly. Instead of allocating payments to specific invoices manually, finance teams can generate a list of open invoices and apply a payment to different bills just by clicking within the invoice list.

Finance teams also gain an improved visibility into the automatic application of discounts and payment credits to invoice amounts. Users can also add XML tags to printed document templates to gain precise control over statement dates and other customizations.

R3 also gives finance teams the ability to develop policies for automating invoicing within customer contracts. Users can define various criteria based on the type of contract, invoicing schedule, and other details, and Sage Intacct will generate and send the invoices automatically. This capability, clearly, will save finance teams a lot of time and effort.

Finance teams also gain the ability to automate the renewal of term-based contracts in Sage Intacct by designating continuing contracts as “evergreen.” This will save users the time required to manually designate the renewal of term contracts.

These are just a few of the new features in the Sage Intacct 2022 R3 release. For more details and a complete listing of updates, visit here.

To learn more about Sage Intacct, reach out to our team or visit our Sage Intacct services page. Until then, stay tuned for Sage Intacct R4 which is scheduled for November 11, 2022.