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Great for Multi-entity companies!
What do you like best about the product?
The thing that I like best about Intacct is the ease of using the software. As long as you set up Intacct correctly, everything is straight-forward. Separate entities can have their own set of books but everything is still intertwined if needed.
What do you dislike about the product?
I have not experienced anything that I disliked about the software.
What problems is the product solving and how is that benefiting you?
I started at a company that used Quickbooks and each entity had a separate login, they had 26 entities. Intercompany JEs took too long and a JE had to be entered in for everything that needed to be allocated. The month end close process took 21 days. Now that we have moved over to Intacct, we can close out within 12 days. There is less work to do when everything is intertwined. Intacct has improved our work-life balance as well. We can login and work from home if needed.
Recommendations to others considering the product:
It is the best decision for your company! Go for it!
Initial stages of implementation
What do you like best about the product?
Ability to put in internal controls over the accounting functions
What do you dislike about the product?
With controls come more time consuming administrative functions
What problems is the product solving and how is that benefiting you?
Department Internal Controls, work flow rules/upload capabilities for payable and employee expenses, flexibility in reporting, Dashboard reporting
Recommendations to others considering the product:
Would like a financial services dashboard
Intacct has increased the efficiency and effectiveness of our finance/accounting team
What do you like best about the product?
Intacct has increased the efficiency and effectiveness of our finance/accounting team to enable our leaders to make better decisions. Our department heads are empowered to make more decisions to effectively lead and manage their areas of responsibility as well.
What do you dislike about the product?
I dislike that the single entity set-up does not allow drill down to G/L without giving access to the ENTIRE G/L.
What problems is the product solving and how is that benefiting you?
The executive/team and Board were not able to get reliable reports in the way they needed to see the data reported to make good decisions. Our department heads set budgets each year, but they were not aware of their budget versus actual status throughout the year to make good decisions.
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