2020 Release 4 Highlight: Deeper capabilities for SaaS, Wholesale Distribution, and Nonprofit
I’m excited to announce that the latest version of our award-winning cloud financial management software—Sage Intacct 2020 Release 4—is now available.
You asked, we listened. Release 4 is packed full of new products and capabilities, much of which came from collaborating with our vibrant customer community. A key area of enhancement includes deeper industry capabilities. A few highlights include:
- Meet subscription billing and revenue recognition requirements with greater flexibility
- Eliminate stockouts and incorrect valuations with more accurate inventory
- Ensure traceability and automatically allocate purchasing costs
Gain deeper industry efficiency, flexibility, and accuracy
When it comes to providing a best-in-class cloud financial management system for customers across multiple industries verticals, one size fits most doesn’t cut it. To ensure all our customers thrive, Sage Intacct continues to invest in delivering industry-leading functionality in every release. Release 4 is no different. While this isn’t an exhaustive list, we’ve highlighted a few features that will enable our subscription and SaaS, warehouse distribution, and nonprofit customers to streamline their processes and provide better experiences to their own customers.
SaaS: Meet subscription billing and revenue recognition requirements with greater flexibility
Release 4 delivers enhancements that streamline customer invoicing and give you the flexibility to adjust the number of revenue journals you maintain.
- Consolidated invoicing – Generate ‘Invoices by Customer’, enabling you to consolidate recurring charges across multiple contracts and/or projects onto a single invoice. With this invoice generation flexibility, you can optimize invoice presentation to customers for improved understanding and streamlined payment collection.
- Partial periods for monthly billing – Improved automation when creating billing and revenue schedules allows for prorated calculations for partial months. Define your subscription terms start and end date, input your expected full month’s billing amount, and check a box. Intacct handles all the calculations for both billing and revenue to ensure partial months are prorated accurately based on days in the month.
- Support for a single revenue journal – Gain the flexibility to manage single or dual revenue journals based on your needs. If you are figuring out your revenue model, add a second journal later as needed. If you no longer have the need to maintain parallel revenue accounting treatments, disable one of the journals and simplify your configuration.
Wholesale Distribution: Eliminate stockouts and incorrect valuations with more accurate inventory
Ensure accurate inventory with periodic cycle counts. Select any item from a workbench to count and go. With every new cycle count, Sage Intacct takes a snapshot of the current inventory. On completion, the system calculates variances and posts adjustments. Have confidence in every adjustment with visibility into activity between the count start and finish. Know who performed the count and when to ensure auditability right within the system.
Nonprofit: Ensure traceability and automatically allocate purchasing costs
While this functionality is useful for all types of organizations, it’s especially important for nonprofits. It’s very common for nonprofits to pool funding from multiple sources when making purchases, which can make it more difficult to accurately trace the money and prove that it was spent for the designated purpose.
Release 4 enables you to get accurate purchasing allocations with just a few clicks. Set up templates that can be used for all posting and non-posting purchasing transactions. Simply select the template when entering purchase order lines to automatically distribute share costs across dimensions, such as departments, locations, projects, and more. This allows you to assign allocations earlier to ensure they carry through all workflow transactions.
To learn more
Watch for future 2020 Release highlights over the coming weeks on continuous close with the Intelligent GLTM, Salesforce integration for nonprofits, visual analytics, and warehouse distribution.
If you're a Sage Intacct customer, you can learn more in the Sage Intacct 2020 Release 4 release notes within the system.
If you’re in the market for a new solution and would like to learn how Sage Intacct might be able to help you, contact us at 877-437-7765 or attend one of our daily coffee break demos.
Ryan Woodward is a Senior Product Marketing Manager at Sage Intacct. Ryan discovered his passion for Product Marketing at E2open, LLC, and continued to build upon that at Workday. Now, he’s excited to use his experience and help organizations learn more about Sage Intacct’s best-in-class cloud accounting and financial management solutions.
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