Improving intercompany reconciliation has reduced manual work and limited compliance support prompts adjustments
What is our primary use case?
I used Sage Intacct for almost two years in my previous position, not in my current role.
My main use case for Sage Intacct during that time was that it served as the accounting software for our global company, while our Indian company, which I am part of, used different software. At every month end, we prepared an import file using our local accounting software and then uploaded the data into Sage Intacct, which was used under the subsidiary for global consolidation.
The process worked by downloading an import file from Sage Intacct and typically doing the mapping between the India accounting GL and the Sage Intacct global GL that we were using. Then I filled the data into a consolidated journal entry using the template and JE upload template, which I then uploaded into Sage Intacct as a single file upload.
This represents the only monthly activity we actually performed. I was not actively using Sage Intacct for day-to-day accounting since those transactions were handled in local accounting software, but on a monthly basis, we exported all data, remapped it, and uploaded it into Sage Intacct.
What is most valuable?
The best features Sage Intacct offers, based on my experience, include reporting, which is one of the best features I appreciated, as well as a different set of mapping in terms of cost centers and different departmental lines that we actually needed.
The reporting capabilities stood out for me because we could generate required reports from Sage Intacct, including all financial statements needed for consolidation and various reconciliations with the parent company and the subsidiary. This was very helpful while uploading local accounting data into Sage Intacct, allowing us to perform reconciliation effectively.
The real-time financial reporting and dashboards are features I would definitely mention as interesting. The customization we could do on department, project, and other metrics offered a different kind of segregation, and the cloud-based accessibility is another good feature I appreciate.
Sage Intacct has positively impacted my organization by facilitating collaboration; we could handle the entire accounts for the India and US entities while getting real-time financial reporting. Additionally, because it is cloud-based software, it is accessible anytime from anywhere, which is beneficial.
Intercompany reconciliation stands out as a specific outcome I noticed; since both companies are under the same Sage Intacct account, we could perform intercompany reconciliation without manual intervention, highlighting an improvement.
What needs improvement?
One area where Sage Intacct can be improved is user-friendliness, particularly in enhancing features in aging reports and ledger statements that typically help in obtaining customer statements. Improving these features would be beneficial, especially in complying more with Indian requirements, since Sage Intacct is not an Indian software.
I rate Sage Intacct seven or eight overall and less than five for Indian accounting because it is not compliant with Indian accounting, especially regarding taxation, withholding tax, and GST rules, which differ from what is represented in the software. The current automation for Indian taxation is not functioning properly in Sage Intacct.
For how long have I used the solution?
I have been working in my current field for two years.
What do I think about the stability of the solution?
How are customer service and support?
I have not worked with customer support.
Which solution did I use previously and why did I switch?
Before Sage Intacct, we used Oracle Business Suite, which was a query-based system regarding reporting, prompting our switch to this software, which is not query-based.
What was our ROI?
I cannot provide insights on return on investment because I am not the right person to comment on that; these subscriptions are US-based, and I am only a user who cannot assess their impact on overall investment.
What's my experience with pricing, setup cost, and licensing?
The experience with pricing, setup cost, and licensing was handled completely by the US team, and we were not part of those arrangements.
What other advice do I have?
My advice for others looking into using Sage Intacct is to consider it if they need a cloud-based solution focused on better reporting. My company does not have a business relationship with this vendor other than being a customer. I would rate this product a seven overall.
Lightning-Fast Data Access That Delivers
What do you like best about the product?
The speed and availability of data and customizable reports
What do you dislike about the product?
Navigation can be clunky at times and you can get lost
What problems is the product solving and how is that benefiting you?
The accessibility for our remote workers without the need for VPN
Helps improve visibility and efficiency in reporting while still needing better support for bulk operations and construction-specific tasks
What is our primary use case?
My main use case for Sage Intacct involves setting up customers with Sage Intacct. I primarily focus on the construction space.
Sage Intacct is an open API and can easily owrk with many different integrations,
How has it helped my organization?
Better visibility to financial reports and projects.
What is most valuable?
The best features Sage Intacct offers include its ease of use due to the open API, and the fact that it operates with 3D accounting dimensions.
The reporting capabilities and automation and integration abilities in Sage Intacct make it easy to work with other third parties and collaborate effectively.
Sage Intacct has positively impacted my organization by making many customers more efficient and providing better visibility into project costs.
What needs improvement?
The change order process in Sage Intacct could be smoother and easier, and I believe the ability to perform lien waivers and invoices in bulk, as well as improvements in inventory management, could enhance the system.
The use of imports in Sage Intacct could be made easier for clients.
I would like to see improvements in Sage Intacct regarding the ability to add cost codes to project contract lines and to have more flexibility with check printing.
For how long have I used the solution?
I have been using Sage Intacct for about three years.
What do I think about the stability of the solution?
What do I think about the scalability of the solution?
Sage Intacct is very scalable.
How are customer service and support?
The customer support for Sage Intacct could improve.
Which solution did I use previously and why did I switch?
Many of my clients have switched to Sage Intacct from QuickBooks, Sage 300, or Sage 100 due to various needs.
What about the implementation team?
My company has a business relationship with this vendor as we are a value-added reseller.
What was our ROI?
I have seen a return on investment with Sage Intacct.
What's my experience with pricing, setup cost, and licensing?
My experience with Sage Intacct's pricing, setup cost, and licensing is that it is somewhat slow and expensive.
Which other solutions did I evaluate?
Before choosing Sage Intacct, my clients evaluated other options including NetSuite.
What other advice do I have?
If you are looking to use Sage Intacct, my advice is to work within the systems and understand how they work appropriately—do not try to get creative; use it as it is built. I would rate this review as a seven.
Affordable and User-Friendly Financial Management
What do you like best about the product?
I like that Sage Intacct has custom fields and easy implementation of various different modules. The custom fields are valuable because at LA Family Housing, we use fund accounting, and we must track expenses and do budgeting across different funders and departments. Sage was easier to implement than NetSuite because we already had a good sense of how our company will function with a larger ERP system. It also provides a better user interface and is less expensive compared to NetSuite.
What do you dislike about the product?
I think they could improve the Financial Reports module, specifically, by allowing custom date ranges.
What problems is the product solving and how is that benefiting you?
Sage Intacct offers an intuitive user interface, is cost-effective, and features custom fields. It simplifies fund accounting by tracking expenses and budgeting across funders and departments with easy module implementation.
Sage Saving Time
What do you like best about the product?
It is very Easy to use. It is very efficient. It is Accurate.
What do you dislike about the product?
Sage University. The test questions are sometimes not related to what was gone over in the materials very clearly.
What problems is the product solving and how is that benefiting you?
Audits, Accounting budgets, and reports
Supports daily financial reporting and allows correction of posting errors
What is our primary use case?
My main use case for Sage Intacct is working for a nonprofit organization in the US, and in my daily work, I record all the entries, data, all the accounting tools, and make financial reports from Sage Intacct and take various reports from that.
A quick specific example of how I use Sage Intacct for my nonprofit organization is that I regularly handle monthly entries for insurance, taxes, and more. Moreover, I post the invoices and make those payments from Sage Intacct and record those particular entries.
The main usage of Sage Intacct is for journal entries, such as for taxes, insurance, and daily invoice processing for vendor day-to-day transactions. We render a service, so for that, I just have to book an entry in which I'll attach the invoice and process the payment from Sage Intacct.
What is most valuable?
The best features Sage Intacct offers include the ability to edit journal entries, attach more than one attachment right there, and have specific fields for marking the transaction such as a description, notes, dates, and GL account numbers where we code that. This feature really helps me out in my daily work.
This has made my workflow easier and more accurate because when I receive an invoice and I'm confused about the nature of the expense, Sage Intacct helps me choose a listed GL code easily. Additionally, for the transaction date, Sage Intacct doesn't allow me to take a different date from the invoice since I'll attach the invoice. This helps with the accuracy of the amount of the invoice. Another example is that during bank reconciliation, Sage Intacct already helps me mark items that are already posted in the bank or which are in the bank statement, which makes me feel better when I go for reconciliation.
Sage Intacct helps me mark the exact date and amount for particular transactions, same in the bank statement, and this feature is really appreciable in Sage Intacct.
Sage Intacct has positively impacted my organization by providing the opportunity to delete or edit any incorrect journal entry at the same time or in the prior or post-period after posting that particular entry. We also have the ability to apply money to grants in Sage Intacct, and if we post a wrong amount or dates, it gives an option to correct it, which is a great help in accounting.
What needs improvement?
As far as I'm using Sage Intacct, I haven't experienced significant challenges, but the page expires really fast if I have idle time or am working on something else while finding an amount or looking at an invoice. This feature might be helpful if they correct it.
In the interface for bank reconciliation, there are so many options on the upper side, such as ending balances and periods, closing and GL balances, which are all summed up in the same place. If we could separate them with a highlighted column for the same amounts, that would be more helpful.
For how long have I used the solution?
I have been using Sage Intacct for two years.
What do I think about the stability of the solution?
I have never experienced any downtime or technical issues with Sage Intacct.
Which solution did I use previously and why did I switch?
I wouldn't say that we transferred from another solution to Sage Intacct, but due to business requirements and technology, I was using some in-house software for accounting, and after discovering Sage Intacct, it has been really helpful compared to the past.
What was our ROI?
I have seen a return on investment primarily in time savings, as I'm not sure about the money part. Sage Intacct is user-friendly, meaning all the employees working on Sage Intacct are recording everything needed for our daily work, and from my personal experience, I find Sage Intacct better than other software.
Which other solutions did I evaluate?
Before choosing Sage Intacct, I evaluated options such as SAP, Xero, and QuickBooks, as we were using several in-house software, but I found that Sage has additional features that made it more user-friendly in comparison, and the management voted for Sage based on employee feedback.
What other advice do I have?
My advice to others looking into using Sage Intacct is that if you haven't tried it, you should do so once, and you will feel the difference compared to the earlier software or solutions you are using right now. I would rate this product an eight out of ten.
Effortless Filtering and Reporting, A true Asset
What do you like best about the product?
I appreciate the filtering capabilities of Sage Intacct, which allow me to tailor searches to suit my specific needs, offering versatility that I didn't experience with other tools like Concur. The user-friendly interface enhances my overall experience by making navigation more intuitive and visually appealing. Furthermore, the reporting features of Sage Intacct surpass those of Concur, providing me with a broader array of report options that are both more informative and accessible. Overall, I find Sage Intacct to be simple yet remarkably effective in managing tasks involving vendor information and invoices, making it a robust tool for my financial management needs.
What do you dislike about the product?
I find the implementation and setup of Sage Intacct problematic. Despite knowing the software's potential from previous experiences, it feels underutilized in my current setting due to how it has been structured. This underutilization leads to inefficiencies, as finding simple answers sometimes takes longer than necessary. Additionally, integrating Sage Intacct with Concur doesn't provide any noticeable benefits; instead, it complicates tasks, making things more challenging.
What problems is the product solving and how is that benefiting you?
I use Sage Intacct to easily locate vendor information, update vendors, and check past invoices. It's more user-friendly and offers better filtering and reporting capabilities than Concur.
Intuitive System That Finance Pros Will Love
What do you like best about the product?
The system is intuitive for any finance professional.
What do you dislike about the product?
It integrates with a lot of software, but it can be unpredictable.
What problems is the product solving and how is that benefiting you?
It links to easy reporting software that allow us to have complex reports.
Has reduced manual effort through customization and streamlined API-based integrations
What is our primary use case?
My main use case for Sage Intacct is as a technofunctional consultant, where I mostly do customization services, integrations, and migrations with all the modules like Order Entry, Purchasing, Accounts Payable, Receivables, General Ledger, and all that related to contracts.
In my daily work, I recently customized and integrated Sage Intacct with a freightway system to view shipments and track those shipments within Sage Intacct using the APIs available.
According to customer requirements, I am accustomed to doing specific customizations for Order Entry, Purchasing, General Ledger, and reports, which are very useful.
What is most valuable?
The best features Sage Intacct offers include the import functionality, support for customization, and the platform that allows me to modify whatever I want. The triggers and reports are built very well and user-friendly, so I can modify this, and this is one of the best features it provides.
The import functionality helps because once I download the template from Sage Intacct, I can fill out the specific columns with the data that I need to import into the system, and it will do the work instead of adding those details manually.
The platform services allow me to add functionalities such as sending an email once I generate any AP bill or approve vendors. Additionally, I can call external API services or Sage Intacct API to validate those fields, which is good for users.
Sage Intacct has positively impacted my organization through improved collaboration and saved time. I can import data easily, and since it is user-friendly, I encounter fewer errors. For example, the work I used to do in one or two days now gets completed in one or two hours.
What needs improvement?
Currently, I do not see areas where Sage Intacct can be improved, although I sometimes face limitations such as not getting certain fields or APIs for the data I want to sync.
Recently, while I was updating a vendor under the vendor approval policy, once I updated that vendor, it went for approval again. I think they should implement some thresholds or flags to identify when approval is not needed.
For how long have I used the solution?
I have been working in my current field as a software developer and have been in the role of a Sage Intacct developer for the last five years.
What do I think about the stability of the solution?
What do I think about the scalability of the solution?
Sage Intacct scalability is also good enough.
How are customer service and support?
Customer support can be improved, as they sometimes respond with a delay. For instance, if I expect a response in two days, I receive it in four to five days.
Which solution did I use previously and why did I switch?
Before Sage Intacct, I used Sage 300, and I switched because it was on-premises. I was looking for a cloud-based solution, and Sage Intacct was one of the best options available.
What was our ROI?
I have seen a return on investment since I saved a lot of time and money. Previously, I required multiple employees to enter transactions, but now I accomplish this with fewer people.
What's my experience with pricing, setup cost, and licensing?
I think the pricing, setup cost, and licensing for Sage Intacct are well-suited for users, as they offer good value for a well-featured software.
Which other solutions did I evaluate?
I evaluated other options within Sage, as I had better choices in Sage itself.
What other advice do I have?
For those looking into using Sage Intacct, I highly recommend it as it is cloud-based with robust features, platform services, customization capabilities, integration options, and API support, making it suitable for small ERPs and organizations. I give this product a rating of 9.
Robust system with cutting edge features
What do you like best about the product?
Offers best value for cost while meeting our finance, supply chain, grants and compliance requirements and such includes the following features:
Grant Management: Simplifies donor compliance and real-time budget tracking.
Financial Reporting: Accurate, customizable reports for audits and decisions.
Non-Profit Features: Fund accounting, cost allocation, and grant billing.
Automation & Integration: Streamlines tasks and connects systems.
Scalability: Modular options to support growth and budgets.
Cost Efficiency: Consolidates tools, reducing reliance on legacy systems.
What do you dislike about the product?
Wanted to have it includes HR functions like leave request etc. But was then advised there is a dedication Sage HR system with all these capabilities.
What problems is the product solving and how is that benefiting you?
Automating most of our manual processes such as PRF, Expense, Timesheets among others