Sage Intacct has been a huge help!
July 27, 2018
Sage Intacct has been a huge help!
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
We are using Sage Intacct as the accounting software for our entire organization, which consists of 4 legal entities. We were previously using Sage Peachtree but needed something more dynamic to better handle the expense allocations that we have as well as a large number of departments.
Pros
- Intacct does a great job of allocating expenses in real-time, which was a selling point for our organization. It is very easy to set up the allocations, then view the allocations in the Bills screen to see specifically how the expenses are going to be allocated.
- Intacct makes it really easy to get help with their software through multiple avenues, including help on specific pages within the software, contacting Intacct directly with cases, asking other users in the Intacct Community or contacting your direct salesperson for help.
- Intacct is very user friendly and is very clean in appearance, which makes it easy to read reports.
Cons
- We are not completely satisfied with how Intacct treats credit memos; it is very different from our prior system and can make it confusing when you are looking at the general ledger of an expense account.
- Intacct has not yet found a way to consolidate allocated expenses on the GL report. Therefore, when we run general ledger reports for our 5000 accounts, we see the same expense on 25 lines, with the specific allocation amounts. In order to see the total, we have to click through to the invoice, or export it to excel and remove the duplicates.
- Intacct does not allow you to attach documentation to the Receive Payments screen, which would be very helpful for us.
- With the fact that Intacct can allocate expenses in real time, it has saved us time at the end of month when we are preparing the monthly financial statements. Instead of having to manually allocate expenses in Excel for all 8 locations, then post a journal entry into the system, all of that is done for us when a bill has been paid.
- The import features have also saved us at least 30 minutes a day, and more at month-end, plus the opportunities for errors because we are able to create an import template, then use that same template for many functions.
- Conversely, it has added time when we are performing our GL review because the general ledger reports do not consolidate allocated expenses. However, the time we have saved with other Intacct features greatly outweighs this addition of time needed to complete a task.
One of the biggest ways in which we have benefited from process automation is inter-company accounting. Prior to using Intacct, we would have to manually reconcile the AP/AR accounts between our entities. However, now that reconciliation happens automatically when an inter-company bill has been paid or a journal entry has been posted. Once we figured out the correct way to post the entry, we found that the general ledger report shows us all of the detail that we required.
We have not used any of these additional modules.
Sage 50 Accounting was the accounting system that we used from company inception to 1/1/16, when we switched to Sage Intacct. Our company was growing and we were in need of a more robust system that would allow us to allocate expenses more easily and give us the ability to reduce the time that we spent updating reports in Excel. Intacct happened to offer the best features for the best price.
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