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A must read: Intacct in the office
What do you like best about the product?
The system provides good financial reports and best of all it produce them instantly. Since our bookkeeper keeps good records of revenue, bills and invoices the system does a great job at creating financial reports that are essential for any non-profit organization. Storing audit trails documents is another great component of the system. I also like the fact that Intacct is improving the system so that reports are becoming more interactive and user friendly.
What do you dislike about the product?
I Feel the payable & receivable modules have room to improve. Accounts payable lacks the ability to show how a payment was executed by looking at the list of bills. You need to click on each bill separately in order to find out how it was paid or who approve it. It would be nice if the accounts payable module shows the payment method Checks, ACH or wire tranfers right on the List of Bills and who approve that bill.
What problems is the product solving and how is that benefiting you?
Our company works on project so tracking each project "actual vs. budget is essential for our organization.
The organization is also looking forward to adding another ledger of business and to consolidate the two company when the times comes which is something that our company couldn't do using the previous software.
The organization is also looking forward to adding another ledger of business and to consolidate the two company when the times comes which is something that our company couldn't do using the previous software.
Recommendations to others considering the product:
The company is using Intacct to manage its Porfolio of about 20 different projects and so far the system is delivering with good financial reporting and ease to use for accounts payable and receivable.
Informative, fun & learn!
What do you like best about the product?
Sage Intacct has streamline and speed-up the multi-currency, multi-entity consolidation in just a click away. It has improved the month-close process with speed and efficiency. The customized capability in reporting allows the user to create useful financial reports and data analysis. Project reporting allows us to analyze profitability much more easily and timely.
What do you dislike about the product?
Lack of details for the consolidated general ledger at top level - would be great if the consolidated transaction could provide details like in the entity level. Report creation could be quite difficult for first time user, would be great if Sage Intacct will provide free online hands-on training for their customers to fully utilize the capability of Intacct.
What problems is the product solving and how is that benefiting you?
Financial Reporting - be able to generate consolidated financials in minutes and could easily carve out reporting by entities to see period performance vs budget for forecasting.
Project profitability analysis - It allows me to build a report that spontaneously calculate the profitability of each training (pulling revenues & costs from various GL accounts in different entities).
Project profitability analysis - It allows me to build a report that spontaneously calculate the profitability of each training (pulling revenues & costs from various GL accounts in different entities).
Recommendations to others considering the product:
Powerful & time-saving for businesses with multi-entities!
Sage Intacct Conference delivers the best conference so far with relevance on today's finance issues
What do you like best about the product?
The CFO track was incredible. The sessions were relevant and incredibly helpful in how we are being looked to as change agents within our organization. The hands on elements really help ground me in what is needed and helped validate many of the areas I was already engaged in, but gave me some "food for thought" on how to improve. Finally, I loved the ability to have so many opportunities to network with other NFP finance professionals.
What do you dislike about the product?
I wish I could clone myself. There were many sessions I was interested in, but ran concurrent. That is a good problem to have from Sage Intacct perspective, but not so much for me.
What problems is the product solving and how is that benefiting you?
We had a complex revenue recognition issue that was solved with our initial implementation of Sage Intacct. Since then, we have seen many benefits with our integration of Nexonia, Joseph Eve Asset Management, and the improved report writer functionality. We have reduced both our monthly close time by 40%, but also seen our Auditors request for additional information reduced by 50%. I am know working on improving my reporting capabilities and dashboards.
Recommendations to others considering the product:
Work with a good implementation partner such as Armanino or CLA. Also, remember that once you implement and start using the product, you will find that you wish to add and redo some of your processes as Sage Intacct allows you to expand your horizons on efficiencies...but you won't realize that until you are in it.
Great web-based solution for non-profits
What do you like best about the product?
Sage Intacct is a user-friendly product with an established track record that has improved our financial processes and reporting. We've been able to close our month 4-5 days earlier than before. Our managers now have up to the minute access to their financial operations though drill-down capable customized dashboards. We've been able to integrate easily with other solutions to bring us to a new level of efficiency (budgeting/credit card expense reporting/donor management/AP Automation). The reporting available from SI made our prepration for our annual audit much more efficient.
What do you dislike about the product?
I would say the product is very powerful and flexible which also brings a level of complexity at times.
The support process has been a learning curve as well. Now that we understand the process, however, I believe we receive a good level of support.
The support process has been a learning curve as well. Now that we understand the process, however, I believe we receive a good level of support.
What problems is the product solving and how is that benefiting you?
We've been able to downsize our accounting staff from 4 to 3 after implementing Intacct along with other providers that have streamlined a number of our processes (credit card reconciliation, accounts payable and financial reporting). I have also seen some efficiency with our annual audit in being able to provide a read only auditor access log in for them to review their disbursement selections and other information they normally rely on us to provide.
Recommendations to others considering the product:
NA
Makes my entire team more efficient
What do you like best about the product?
Sage Intacct has allowed us to consolidate our many bank accounts (and reduce the related bank fees and administrative burdens) by automating the intercompany transaction process. Automating the expensing of prepaids and allowing us to perform complex allocations with a few clicks has cut down dramatically on the month end close process. One of the big selling points for us was the ability to import operational data and perform calculations along with the financial data. Reporting is also very flexible and allows us to put together more useful reports. Love that it's web-based. Our prior system was hosted by the vendor and accessed via remote desktop which was frequently slow and problematic.
What do you dislike about the product?
After using it for the past five months, we haven't found anything not to like.
What problems is the product solving and how is that benefiting you?
Intacct allowed us to lower the costs of our accounting and reporting software solutions, lower our bank fees, integrate a better AP automation system (Yooz), automate our allocations, more easily integrate with outside solutions, reduce the overall time to close the books, and maintain our current number of staff while the company grows exponentially.
Recommendations to others considering the product:
Some of the reviews made it look like Intacct was only for smaller companies. We are a $45 million organization and Sage Intacct fully supports our needs and has room to grow as we grow.
Love the features
What do you like best about the product?
The ease of use and simplicity make Sage Intacct a great product
What do you dislike about the product?
Only a few issues with getting logged out, other than that, it's great!
What problems is the product solving and how is that benefiting you?
Keeping all sales straight. The reports are great for balancing with other programs.
Recommendations to others considering the product:
Great product to use with SalesForce an accounting functions in general.
User friendly tool
What do you like best about the product?
Intacct is an extremely User-friendly site, which allows you to customize it to your companies needs and wants. I’ve used other ERP’s before and they just were not as great as Intacct.
What do you dislike about the product?
I personally like the old UI better than the new Ui, things were easier to find more quickly. I also wish the mobile app was going to be ready much sooner and shocked that it’s taken this long to implement.
What problems is the product solving and how is that benefiting you?
It truly streamlined our Accounting process for us and has allowed us to focus in other areas of our business.
Recommendations to others considering the product:
Just do it, I’ve used other programs and truly love Sage, my Account Manager and how they are always 10 steps ahead of the curve.
Very happy with Intacct and its functions and features.
What do you like best about the product?
Intacct has extensive functionality sufficient to manage financial accounting for complex entities, but is structured such that less complicated entities can easily navigate the system. This flexibility makes Intacct particularly useful for a small but growing enterprise.
What do you dislike about the product?
My recent experience with support has not been positive. I have one particular issue that I should have been easy to address. However, I have been "back and forth" via email with a support technician for weeks. It appears that the support technician may be overseas and does not have the same working hours.
What problems is the product solving and how is that benefiting you?
Our needs are fairly typical except that we need the multi-entity capabilities of Intacct. Within each entity, our needs are standard. The multi-entity functionality makes it very easy to manage the financial accounting for both entities with minimal duplication of effort.
Recommendations to others considering the product:
Intacct is reasonably easy to implement and use. In particular, Intacct provides significant functionality for uploading data (codes, transactions, etc.), which includes uploading historical financial transaction data. There is significant parameterization and user defined features that make the system functional for more than simple accounting processes.
Sage Intacct Helped our Company Close in Record Time
What do you like best about the product?
Sage Intacct has helped us to be able to reconcile our bank accounts, credit cards, and make our reporting so much more streamlined. Reporting information that is easily accessible allows us quick responses to our management and in year-end close with our auditors. Revenue recognition has been so much easier and has cut down on our revenue recognition entries by around 800-1,000 entries per year.
What do you dislike about the product?
I think the only downside that we had at one time as that we were having a ton of issues in getting our multi-entity set up. We conduct business in the US, which is our main entity, and we conduct in two other countries, one reported in USD and one reported in another currency. When we added the additional currency in the consolidation, it seemed like we had issued with it for over 8 months. Now that we finally were able to get some time with Intacct Support, we finally have books that are working and consolidating correctly. I think this has been our biggest headache since day one when were started transacting in September 2017, but were able to finalize it in September of 2019, just because we were able to make a fix outside of the ERP to be able to report.
What problems is the product solving and how is that benefiting you?
Our month end close has been so much more of a breeze. We have gone from month-end close process being around 45 days to a soft-close within 6 days within this past month. Our efficiencies have greatly increased when we moved over from every single aspect of conducting business within our ERP. AP, AR, Rev Rec, Journal Entries, Bank Recs, and even having foreign entities have been improved day and night from when we were doing business in QuickBooks Online.
Recommendations to others considering the product:
Take a look at what you are trying to accomplish and narrow down what types of offerings that Sage Intacct will be able to provide efficiencies in. One example of this is the budgeting tool that they came out with as an additional add-on module. Currently, our budgeting is still done in Excel, however we can't see the value (at this time) in adding on the module that would make our reporting and budgeting process more dynamic. Currently, we use the basic offering that Sage Intacct offers and that seems to get us along just fine. One option that we couldn't go without is the Multi-entity, Global Consolidation, and Multi-Currency options. Those additions to our base software have allowed us to make better business decisions and also help reduce our month and year-end close time.
Sage Intacct provides great results in productivity and overall efficiency.
What do you like best about the product?
The most helpful feature within Sage Intacct are the approvals and workflows within each module. The approvals are routed effectively via email notification containing a direct link to the transaction. The workflows are easy to follow and there is enough detail to understand where each item is within the workflow.
What do you dislike about the product?
Unlike the general journal or accounts payable module, the cash management module does not allow for configured approvals, specifically the "Other Receipts" and "Deposits". Since this is not a feature, we manually approve transactions via collaboration.
What problems is the product solving and how is that benefiting you?
The reporting within Sage Intacct has a wide variation of customization. This has allowed for our company to create complex reports that are required monthly, quarterly, and annually. Not only does this create a perfect output, it also streamlines our reporting process once the reports are created.
Recommendations to others considering the product:
If you are seeking a complex system with many capabilities, this is the system to use.
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