Intacct Review - San Jose Customer Meetup
December 08, 2016
Intacct Review - San Jose Customer Meetup
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Intacct
We are currently using intacct in a multi-entity, multi-currency, global environment to manage our software sales, professional services, partner/re-seller relationships. Intacct is currently being used in more than 8 countries in 10 + currencies.
Intacct is also being used for:
Intacct is also being used for:
- Global consolidation, financial reporting at the country and entity level in local currency.
- Automated elimination of inter-company transactions.
- Global consolidation. Conversion to global reporting currency, elimination of inter-company/transfer pricing transactions, recording of FX gains/losses is seamless.
- Automated bank reconciliations. The import of monthly bank transactions and automated matching of transactions. Bank reconciliations with hundreds of transactions take only a few minutes to complete.
- Import of payroll journal entries. The JE payroll template is easy to use and provides description errors to easily resolve import issues before an entry is posted.
- Payment export in multiple currencies directly to bank vendor templates for wire or ACH payments. Not sure if this functionality already exists for the numerous payment requirements for domestic and international payments to US/International banks.
- Our monthly close with our legacy system took 3.5 + weeks to complete. Our close has been reduced to 2 weeks and should be further reduced to 5-7 days in early 2017.
- The Intacct community and partners has allowed us to understand/evaluate how our peers are using Intacct and how it is being integrated with third party software/services. This has accelerated our development of intacct within our global organization.
- The pre-built APIs with Expensify and Salesforce made the integrations seamless and require no ongoing maintenance as new enhancements are made available
Intacct is much more intuitive and easier to learn. It also requires much less training as the concepts are in plain English and do not use a lot of Accounting/Finance terminology. This facilitates the use by users outside the traditional accounting/finance umbrella.