Item: Sage Intacct
Rating: 8
Author: Verified User

Use Cases and Deployment Scope

We use Sage Intacct in the Accounting and Finance department. It has allowed for faster consolidated reporting of five entities and has made inter-company transactions more manageable. We were able to automate our credit card, employee expenses, and payables by integrating with Nexonia and Bill.com.

Pros and Cons

Consolidated financial reporting
Expense report system integrations to be able to automate the process for employess and go paperless
Robust, cloud-based accounting system is convenient and easily accesible

Cash Profit & Loss report is our #1 issue. Sage Intacct does not make cash reporting easy when it comes to credit card and inter-company transactions. It is currently a very manual process and is needed for tax purposes.
There's room for improvement to include different bank integrations. Currently, Sage Intacct integrates with Wells Fargo, which is not mission aligned, and AMEX, which has limitations for multi-entity use.
Excited to see the financial planning tool being built out and the capabilities it might include.
Would like to see any integrations with investment management platforms.

Return on Investment

25% Return on investment
Paperless process
Freed up staff time for team to build skills in financial analysis and investment accounting

Sage Intacct Automation

We have benefited from automated credit card, expense reports, and accounts payable via Nexonia and Bill.com. Credit card transactions automatically come into Nexonia for employees to code and attach receipts and then submitted and approved. They are posted to Sage Intacct with one click after. From there, we sync to Bill.com, who processes check and ACH payments to vendors and employees after the check-signer has approved within Bill.com.

Sage Intacct Extensibility

Multi-entity consolidations has reduced the number of hours needed to manually pull together financial statements. We are able to pull a consolidated report each month.

Ease of Integration

Ease of integration depends on prior knowledge of the system, support with data migration, and an understanding desired outcomes. We were able to address most of our pain points in the initial integration. However, one big obstacle has been getting accurate cash reports report and this was not addressed during our integration. We were initialy recommended to use AMEX bill pay and found out they could not support multi-entity payments with separate bank accounts. As a prior Sage Intacct user, I was aware of the time it would take to map each entity to a new set of dimensions and GL Accounts, but to new users it can be confusing and would be easier if it was started prior to the integration kick off.

Alternatives Considered

QuickBooks Enterprise Solutions

Sage Intacct is on another level from QuickBooks Enterprise and is leveraging today's technology to change the accounting world.

Likelihood to Recommend

Sage Intacct would be well suited for a non-profit organization that is looking to move from QuickBooks to Intacct to consolidate financial reporting. Companies that are tracking different projects and departments would benefit from the dimension functionality in Sage Intacct. They would also be able to improve accounting processes by utilizing the different expense reporting, payables, and bank integrations that partner with Sage Intacct.

Sage Intacct FTW

Overall Satisfaction with Sage Intacct