2020 Release 1 Highlight – Sage Intacct Sets the Bar for Mid-Market Cash Management
It used to be that when you moved from QuickBooks to a mid-market accounting solution, you had to give up a lot when it came to cash management. QuickBooks set the bar high for other solutions with automatic bank feeds and auto-matched reconciliations. Mid-market solutions seemed archaic in comparison with their manual file imports, time-consuming reconciliations, and manual adjustments and posting. But, recent investments by Sage Intacct in cash management bring these capabilities to its’ leading mid-market solution.
Read on to learn more about the game-changing enhancements in cash management Sage Intacct has made over the last few releases to help companies save hours of time each month and gain better control and insight into their cash.
Connect seamlessly to 10,000 banks worldwide
Bank transactions from over 10,000 financial institutions throughout the world flow effortlessly and securely into Sage Intacct, eliminating the need to manually import files for bank reconciliations and payment application.
Always know where your cash stands and “soft close” daily
Sage Intacct has long had the advantage of being able to view cash and transactions across entities and locations in real-time.
With recent support for bank feeds, your transactions are downloaded from your online bank and automatically matched in Sage Intacct. The automation means you can routinely reconcile to monitor fraud and catch and correct mistakes early. It also means you can “soft close” daily to speed your close and always know where your cash stands. And, when it’s time to close the books, it’s one less step because you’re already reconciled.
Save hours on large reconciliations
Sage Intacct bank reconciliations are designed for tens of thousands of records. After your downloaded transactions are auto-matched, you can easily filter and sort any unmatched transactions to quickly resolve them.
When adjustments are needed, new functionality in Release 1 makes it easier than ever to make journal entry adjustments. Now a single click will automatically create half of the journal entry for you based on the downloaded transaction.
Apply electronic payments to invoices with a click
Sage Intacct has long provided the functionality to manage payments, print checks, and transfer funds across accounts to locations and entities right when you need them.
Now automated bank feeds allow you to download and match inbound payment transactions to invoices in a click. You can save hours of time when processing high volumes of payments by eliminating manual matching in your bank reconciliation. And, you can easily create transactions that haven’t yet been entered for easier reconciliation.
Sage Intacct has made great strides in cash management and continues to invest. If you’re looking at mid-market solutions, be sure to include Sage Intacct so you get the best of mid-market cash management.
Here are a few options if you’d like to learn more about our cash management:
Sandi Main started her career as an Accountant and Business Analyst, working for Alza Corporation, later acquired by Johnson & Johnson, and Deloitte Consulting. Her career took a turn towards Product Management and Product Marketing, working in customer relationship management at Siebel, acquired by Oracle, and in digital marketing for Acxiom and Kenshoo. Now she’s come full circle, applying her Product Marketing experience to accounting solutions at Sage Intacct as Director, Product Marketing.