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First time being on Intacct, very happy with the product
What do you like best about the product?
Drill down functionality, through AP postings to the actual invoice.
What do you dislike about the product?
I don't like how some of the reports work, I don't like how it produces another tab with the report on it. I also find some of the navigation difficult - looking for a back button when I need to close out of the newly generated report tab and go back to a different tab to rerun a new report with different parameters.
What problems is the product solving and how is that benefiting you?
The credit card processing with 2CP - the followup collections and automation around that has been a big help to our collections process. We aren't even using the full functionality but hope to down the road.
Recommendations to others considering the product:
Make sure you know your company's full requirements for what you are trying to accomplish near and long term when making a switch in accounting systems. Everything doesn't need to go live at once so focus in the areas where you can get the biggest impact in the shortest amount of time and Intacct allowed us to do that. Need to ensure the system can grow with you and meet your needs as the business grows as well as when standards change - like ASC 606.... Finding a good implementation partner is key in assessing what is possible and getting the most functionality out of your new system.
Multiple Entity Heaven....
What do you like best about the product?
Sage Intacct allows us to have a single general ledger for multiple entities, new entity setup is a snap. Intercompany transactions can be done without worry about doing the back-end transactions. Balancing takes minutes where it once took two days. Automated approval process makes Accounts Payable much more efficient and less time intensive. Reclass feature saves on journal entries. The attachments allow us to be mostly paperless - no more pulling invoices/reconciliations, etc. Memorized transactions save time and create checklists for month end entries. The ability to upload invoices and journal entries makes large entries/invoices a snap!
What do you dislike about the product?
The financial reporting leaves much to be desired. Rollup and consolidations are difficult to set up and the sheer number of account groups, books, etc is very time intensive. Changes must be done very carefully or other reports end up corrupted.
What problems is the product solving and how is that benefiting you?
The online a/p approval process has saved us lost invoices, time waiting on approvals, and streamlined the payment process. Intercompany transaction functionality has saved days of balancing at month end. Attachments make hunting for documents and pulling files a thing of the past! Reclass ability allows us to modify a paid invoice and code properly, increasing accuracy by providing historically accurate data. The memorized transaction and upload features for journal entries and invoices make large data entries simple and done in a matter of minutes! Templates are simple to use, easy to set up and upload. Customizable invoices allow us to modify invoices to reflect entity names. The system overall has allowed us to streamline, increase accuracy and saved countless hours of extra work! We LOVE this software.
Recommendations to others considering the product:
if you are a multi-entity business with expansions planned, this software is for you! The automation and time saving features have been a game changer for our company.
Robust ERP for SaaS Businesses
What do you like best about the product?
Contracts module makes it possible to efficiently manage complex rev rec under 606. The sync to SalesForce helps ensure a smooth end-to-end quote-to-cash process. The pre-built stat accounts for SaaS metrics are actually a game changer. It's fantastic to dimensionally track CMRR and related metrics in a custom ledger.
Stat accounts with dimensional tracking are easy to setup and administer. By using these, I am able to track all financial and non-financial KPIs within different ledgers in the system. I can then use the data to create meaningful reports for export or dashboard to share with users. By keeping everything in the system, I am able to ensure that all data is internally consistent. Additionally, if there are changes in department or class structure, by making the change at the dimension level, it will automatically cascade down to data and, ultimately, the rerports.
Stat accounts with dimensional tracking are easy to setup and administer. By using these, I am able to track all financial and non-financial KPIs within different ledgers in the system. I can then use the data to create meaningful reports for export or dashboard to share with users. By keeping everything in the system, I am able to ensure that all data is internally consistent. Additionally, if there are changes in department or class structure, by making the change at the dimension level, it will automatically cascade down to data and, ultimately, the rerports.
What do you dislike about the product?
The reporting is powerful, but I would love to see an option for columns in reports to dynamically adjust based on a "start" and "end" date.
What problems is the product solving and how is that benefiting you?
Sage helped us streamline a previously unruly contract management and rev rec process. Additionally, the powerful account groups feature has dramatically improved the accuracy and timeliness of our reporting.
Recommendations to others considering the product:
Sage Intacct has come a long way. If you're considering NetSuite, you owe it to yourself to give Sage a full demo.
Worming with Intacct has been okay
What do you like best about the product?
Easy to make enteries and learn the system
What do you dislike about the product?
Not being able to edit an invoice and not easy to find some reports
What problems is the product solving and how is that benefiting you?
Reporting
A great SAAS accounting solution
What do you like best about the product?
I feel the layout and design of the program is very easy to navigate. The drop down menus are easy to find whichever module you are looking for. The interface for searching for specific information, whether it be vendors, customers, contracts or even journal entries is very intuitive and allows multiple ways or searching. The customization available to our company is also very comprehensive and allows you to create custom lists, schedules, accounts etc. that fully integrate your accounting needs.
What do you dislike about the product?
Intacct needs to focus more on their international customers specifically their Canadian customers needs. The multiple currencies had been an issue in the past with several modules but seems to have been addressed. There are still features that are not fully integrated with currencies and locations outside of the united states. Currently there is no way to be able to integrate vendors banking information in order to export templates for making ACH payments for our Canadian vendors however this functionality exists for US based vendors.
What problems is the product solving and how is that benefiting you?
A recent issue we had was that we were trying to automate our vendor payments and wanted a way to extract vendors banking and payment info to our online banking site in order to make ACH payments. We were able to do this with our U.S vendors and generate file that was uploaded to our banking site successfully. This has saved us a lot of time as we were having to manually enter our payment info into our bank each time we wanted tyo make an ACH payment.
Great for fast growing companies
What do you like best about the product?
Easier to navigate than other similar softwares thanks to an intuitive and user friendly UI.
Easy to upgrade with add-ons, customizations and modules.
Cloud based is great for remote acces. As we are a global company where travel is frequent, it is imperative to be able to connect from anywhere at anytime.
Easy to connect with additionnal third party software like Nexonia and Invoiced for further automations.
Easy to add users and the pricing model is fair.
Great automation opportunities, especially for companies with a lot of billing and customers.
Easy to create new entities and new sublocations (e.g. divisions) within each entity. That feature is imperative for companies that grow through acquisitions.
Love the custom report wizard feature. It helps to drive new initiatives. For example a customer with 110 locations (e.g. 110 customers in Intacct) wanted a consolidated bill. We were able to create a new summary sales report and a detailed sales report. The customers were happy.
Access granting is by section, not for the full software which allows you to manage bigger teams with people focused on processes.
Easy to upgrade with add-ons, customizations and modules.
Cloud based is great for remote acces. As we are a global company where travel is frequent, it is imperative to be able to connect from anywhere at anytime.
Easy to connect with additionnal third party software like Nexonia and Invoiced for further automations.
Easy to add users and the pricing model is fair.
Great automation opportunities, especially for companies with a lot of billing and customers.
Easy to create new entities and new sublocations (e.g. divisions) within each entity. That feature is imperative for companies that grow through acquisitions.
Love the custom report wizard feature. It helps to drive new initiatives. For example a customer with 110 locations (e.g. 110 customers in Intacct) wanted a consolidated bill. We were able to create a new summary sales report and a detailed sales report. The customers were happy.
Access granting is by section, not for the full software which allows you to manage bigger teams with people focused on processes.
What do you dislike about the product?
Some annoying bugs/challenges that are not expected out of a good accounting software. For example, AR subledger does not reconcile with GLs and we can't figure it out.
Lack of support/proactive/timely updates for international regulatory requirements.
Some functions should be more automated. FX unrealized being one of them. All the software is print out a report that basically tells you what to book but the whole entry has to be manual. Why not just create an entry proposal out of the report?
Bank feeds erase itself and work has to be redone if not fully reconciled. It would be great if bank feeds in Intacct would be working the same way as Xero does.
Deferred revenue reports are not working. It makes it hard and complicated for auditors to audit deferred revenue without a proper waterfall schedule. Also, the forecasted revenue reports based on contract modules does not work, even if we have all the data in the contract module.
Lack of support/proactive/timely updates for international regulatory requirements.
Some functions should be more automated. FX unrealized being one of them. All the software is print out a report that basically tells you what to book but the whole entry has to be manual. Why not just create an entry proposal out of the report?
Bank feeds erase itself and work has to be redone if not fully reconciled. It would be great if bank feeds in Intacct would be working the same way as Xero does.
Deferred revenue reports are not working. It makes it hard and complicated for auditors to audit deferred revenue without a proper waterfall schedule. Also, the forecasted revenue reports based on contract modules does not work, even if we have all the data in the contract module.
What problems is the product solving and how is that benefiting you?
Billing automations for a company with 800 billings and 3000 line items. Before, everything was manually done. Now, we simply created a macro in Excels that converts the .txt file from the CRM to importable data in Intacct. Once converted, with just a few clicks its all billed, recognized (revenue) and sent to customers.
Quality reporting: Many times our upper managers inquire about details on the P&L. Intacct allows us to preserve the granularity of the transactional detail directly in the P&L' GLs. Therefore, we start searching in the P&L G&Ls and we can trace all transactions up to transactional documents.
Custom dimensions/fields: we can design new dimensions to allocate and group customers in a relevant and personnalized way to meet our managers desires. It allows us to track sales by strategic groups of customers and detect patterns that allows us to take better business decisions every month.
By connecting Nexonia to Intacct, we fully automated the employee expense report process and that is saving us dozens hours hours every month, especially at a crucial time like month-end.
Quality reporting: Many times our upper managers inquire about details on the P&L. Intacct allows us to preserve the granularity of the transactional detail directly in the P&L' GLs. Therefore, we start searching in the P&L G&Ls and we can trace all transactions up to transactional documents.
Custom dimensions/fields: we can design new dimensions to allocate and group customers in a relevant and personnalized way to meet our managers desires. It allows us to track sales by strategic groups of customers and detect patterns that allows us to take better business decisions every month.
By connecting Nexonia to Intacct, we fully automated the employee expense report process and that is saving us dozens hours hours every month, especially at a crucial time like month-end.
Recommendations to others considering the product:
Make sure you really understand how Intacct works before starting using it. You don't have to master all the modules you don't use, however you need to understand the modules that you are using. Especially on the back end.
Explore all the features. Intacct has a vast spectrum of "hidden" jewels that can further automate your processes.
Train your teams to use Intacct properly. Design working instructions to make sure they execute consistently and reliably.
Don't hesistate to contact Intacct helpdesk if any issues, they can provide good insights as to how to solve a technical problem.
Make sure to master the contract module. It is very powerful yet can behave in unexpected ways when making corrections to active contracts.
Explore all the features. Intacct has a vast spectrum of "hidden" jewels that can further automate your processes.
Train your teams to use Intacct properly. Design working instructions to make sure they execute consistently and reliably.
Don't hesistate to contact Intacct helpdesk if any issues, they can provide good insights as to how to solve a technical problem.
Make sure to master the contract module. It is very powerful yet can behave in unexpected ways when making corrections to active contracts.
One stop shop
What do you like best about the product?
intacct offers a very strong revenue recognition module
What do you dislike about the product?
Customer Support is only through email communication -
What problems is the product solving and how is that benefiting you?
revenue recognition
subcription billing
Asset tracking - depreciation
prepaid expenss
subcription billing
Asset tracking - depreciation
prepaid expenss
Recommendations to others considering the product:
Learn first the process flow of intacct, this will save a lot of time in the future
Sage Intacct review
What do you like best about the product?
Great AP and AR modules with an import function for journal entries. Some very useful reports and the option to customize reports and memorize them.
What do you dislike about the product?
AP invoices and POs can be saved as draft even if their ID numbers are a duplicate of an already existing Bill/PO.
What problems is the product solving and how is that benefiting you?
Tracking revenue and expenses, AP/AR, Cash for our entire company with 2 offices - one local and one remote. Monitoring productions' specific performance via cost reports. Utilizing all of the entered data to perform period-end close accounting tasks and build our financial reporting package.
Flexible and Powerful
What do you like best about the product?
Sage Intacct has been great for our organization, in just a few short years we have nearly tripled in size and Intacct has scaled with us. Sage Intacct's tracking of inter company activity has been a life saver and its seamless consolidation has been very helpful. The program is very flexible and versatile to our expanding and ever changing needs.
What do you dislike about the product?
our implementation did not go so well, but once we were set up and live their professional services team helped us pick up the pieces and get us moving.
What problems is the product solving and how is that benefiting you?
Allo our accounting and reporting needs.
Recommendations to others considering the product:
You will not be disappointing in Sage Intacct. The program, the community, the support, it has been great working with Sage Intacct.
Excellent, simple and easy to use financial reports.
What do you like best about the product?
Online approval of purchase orders, invoices and checks preparation.
What do you dislike about the product?
Additional license cost of assigning approvers for accounts payable transactions and checks approval. It becomes too costly to have a license for each approver.
What problems is the product solving and how is that benefiting you?
Easy to use financial reporting.
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