Intacct-Is it Right for you?
August 12, 2014
Intacct-Is it Right for you?
Score 8 out of 10
Vetted Review
Verified User
Modules Used
- GL, AP, AR, Inventory, Time and Expenses, Order Entry, Purchasing and Cash
Overall Satisfaction with Intacct
We currently use Intacct in two ways. We use it internally for our own firm's accounting needs and we manage and support clients that use Intacct externally. In both cases, Intacct is being used by the whole organization but primarily the information is entered and managed by members of the Accounting Department. The best issue it addresses is inter-company transactions. If you use the "multi-entity shared" environment, you have the ability to enter a transaction at the top level entity and have the appropriate expense and inter-company Due to/From recorded at other entities all while entering a transaction on one screen! For example, if I have three companies, commonly owned, that share office space and they are using Intacct in the multi-entity environment, when the Utility Bill comes in, I can code and enter the bill on one screen and split the bill to be expensed on three different company General Ledger's. I can run financial statements showing all three companies combined, or just for one specific company and the expense and Due to/from is properly recorded behind the scenes.
- The multi-entity environment handles inter-company transactions very well. It is a time saver for our data entry clerks to be able to enter activity on one screen that can be posted to various entities financial statements.
- User rights - Intacct is very detailed on what rights you can give to your users so you are able to have segregation of duties by properly setting up users and their access rights.
- Approvals - You are able to customize approvals for purchasing/accounts payable or printing/writing checks. You can turn them off if you wish
- Check printing - The ability to print on blank check stock saves both time and money as I don't have to buy different check stock for each account, store or manage the check stock or worry about loading the printer with the correct check stock.
- Support - In my experience, Intacct support is not very friendly or helpful and at times they take too many business days to respond/fully answer your question.
- Order Entry and Purchasing Modules - It would be great if these two applications could be linked so as a customer orders a product & if that product is not in stock, you could click a button to create a purchase order for that product.
- Inventory - Inventory serial number feature needs to be improved. The system manages and tracks serial numbers on the purchase of products but not on the sale of that product with that serial number (its like the system only does 1/2 of its job only managing serial numbers on the purchasing side).
- For me, as a partner of Intacct, I've seen increased employee efficiency as the biggest advantage.
- Lead conversion/customer service - I don't feel like the software handles or manages this, but you can easily add a CRM (Salesforce or Microsoft) to help manage and track this information.
- QuickBooks Enterprise Solutions,QuickBooks Premier,NetSuite,Microsoft Dynamics CRM,Microsoft Dynamics GP,Peachtree
I like that Intacct is fully cloud based and that the fees/costs are very simple to explain to potential customers (i.e. there are not too many hidden/additional costs). When used with Bill.com, Intacct becomes a great online file center via Bill.com and you are able to document and manage your accounting fully in the cloud. I also like the Dashboards and Reporting functions of Intacct. My favorite feature is the Multi-Entity environment and how it well the software handles intercompany transactions.