Intacct is a effective tool for Financial Planning & Analysis departments
August 07, 2018

Intacct is a effective tool for Financial Planning & Analysis departments

Natalie Breau, CPA, CGA | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Sage Intacct

It is only being used in the finance dept at our org. It is our main accounting system for all transactions, reporting, consolidation, etc. FP&A uses it for reporting and detailed transaction analysis. FP&A also uses the "item" and "event" tagging for reporting/analysis. We are working on a project to integrate Intacct with Adaptive Insights so that actual data is automatically uploaded to Adaptive on a regular basis. When the integration takes place the detailed transactions will be accessible by other parts of the org (people who budget).
  • Real-time updates for new GLs, changing GL names, new Items, new Event codes, etc.
  • Drilling through to detailed transactions is easy and it's easy to access attachments (like invoices, approvals, etc)
  • Reporting - very manual to set up and when new GLs are added, the reports have to be updated. If you forget to do this your report will be out of balance. I would like for reports to update automatically.
  • I don't like that you have to search company codes separately - very time-consuming.
  • Real-time changes to GL - positive impact (Efficiency)
  • Department level reporting - allows for more granular profitability analysis at a dept level (previous system did not have the ability to report by dept)
  • Prepaids/capital assets - have made it more difficult to reconcile each month (negative impact)
We have benefitted from automation of all of the above. I am not involved in these core processes (I am a user of the data for my FP&A dept). For A/P it is easy to find accounts, run general ledger reports and drill into transactions to see if invoices have been paid, what their coding is, who approved them, etc. I am looking forward to integration between Intacct and Adaptive Insights as this will give more end users the capability for self serve data.
We have not integrated yet
I was not involved in the selection process. Compared to ERPs used at previous companies, the ability for real-time changes is extremely useful.
Well suited:
1. Software as a service company (deferred revenue is easy)
2. Multi-currency companies
3. Companies with a lot of general ledgers, items, etc.

Less appropriate - companies with a lot of prepaid expenses and capital expenses. The prepaid module is VERY time consuming and inefficient. Also difficult for users other than accounting to look up information about prepaids. A manual Excel spreadsheet needs to be maintained outside Intacct.

Sage Intacct Feature Ratings

Accounts payable
8
Accounts receivable
8
Cash management
Not Rated
Bank reconciliation
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
6
Intercompany Accounting
Not Rated
Journals and Reconciliations
8
Order entry
6
Standard reports
8
Custom reports
7
API for custom integration
8
Plug-ins
Not Rated
Role-based user permissions
9