Sage Intacct 2024 Release 4 Highlights 

Enhancements to time tracking and billing, vendor and customer reconciliation reports, and the ability to customize AR statements are among the features unveiled as part of the Sage Intacct R4 update.

The update, released on November 8, includes several features, tools, and improvements designed to increase efficiency for finance professionals and help them save time.

Sage Intelligent Time, which allows users to generate the first drafts of automated timesheets by scanning their calendars, email messages, and file activity, has been enhanced with mobile time clock and rate cards. This feature is designed to increase billing accuracy and efficiency for organizations with employees who record billable time away from a workstation. This can include, for instance, professional services providers visiting client sites or service organizations with field technicians.

In many instances, employees neglect to track their time accurately as work is performed, forcing them to recreate what they did (and for how long) after the fact. This can lead to inaccurate data and, in some instances, work not being invoiced.

Sage Intelligent Time also allows organizations to create rate cards for employees that are billable at different rates depending on the projects they’re assigned to.

Accounts receivable teams will benefit from new vendor and customer reconciliation reporting capabilities. Similar to the ways Sage Intacct offers automated transaction matching and journal entry creation, the platform can automatically match incoming and outgoing payments to customers and vendors with the appropriate invoices by using a combination of matching rules and artificial intelligence.

Users can also create flexible filters for matched, unmatched, and partially matched transactions.

A new feature available in general release is the ability to create running balances for customers that receive multiple invoices over time. Finance teams can track a customer’s balance and payment history more easily. They can also add a running balance column to statements so customers can see how their payments were applied to specific invoices and their balance after payments were applied.

Organizations that use Sage Intacct’s Contracts module will benefit from several improvements, including the addition of service periods within the tool. Service period dates can be generated automatically. Those dates then flow from contracts to generated invoices so customers can see the dates they’re being billed for. Service period date merge fields are available to add to printed document templates.

Organizations can also manage their contracts more efficiently from a centralized view that allows them to clear revenue and expense recognition, and deliver contract lines in bulk across multiple contracts. This eliminates the time for finance teams to access each contract individually. Updates to the Manage Schedules page include the addition of filters for user-defined dimensions, and expanded selection options in the results table.

Users who edit a contract renewal or evergreen template have the option to sync those updates to scheduled renewals associated with that template. This change is designed to remove the need to edit contracts manually by allowing users to push updates to an agreement template to its associated contracts, saving time and improving efficiency.

Organizations with international operations will benefit from the ability to prepare invoices and track receivables in different currencies automatically. This will save finance teams the time and effort of manual currency translations as they invoice international customers.

Similarly, Sage Intacct has added Canadian French and Spanish to the languages in which finance teams can operate their implementations. These languages join Australian, U.S., UK, and South African English, French, and German.

For early adopters, new functionality allows users to use smart filtering as they list accounts. Users can personalize list views, leverage advanced filters, and manage list and record details side-by-side. Users also can create split views to display specific invoices within lists, and they can save any list customizations they create. This will be helpful for AP, AR, and inventory specialists who can sort and display information to increase their overall efficiency.

Sage Intacct has also expanded the use of its REST API, which organizations can use to integrate their implementation data with other systems and platform, such as their inventory management or payroll tools. Early adopters can use the REST API in their production environments as well as for testing.

As Sage Intacct continues to release new features and functionality on a quarterly basis, the first update for calendar 2025, R1, is scheduled for February 7, 2025.

If you’d like to learn more about R4’s capabilities, or the many ways Sage Intacct can help with your accounting needs, contact us.