Great reporting, not so great VAT, overall easy to use
May 23, 2019
Great reporting, not so great VAT, overall easy to use
Score 7 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
Sage Intacct is used solely in our finance and accounting department to manage both internal management accounts and statutory financial reporting.
Purchase invoice management, sales invoicing, employee expense recording, VAT reporting and month end financial analysis are the most prominent features used.
We have integrated external solutions - expense entry, sales booking - with Sage Intacct to reduce unnecessary manual input.
We have developed a suite of month end reports used for reporting and analysis, allowing us to view costs by numerous dimensions (account code, business unit, vendor).
Purchase invoice management, sales invoicing, employee expense recording, VAT reporting and month end financial analysis are the most prominent features used.
We have integrated external solutions - expense entry, sales booking - with Sage Intacct to reduce unnecessary manual input.
We have developed a suite of month end reports used for reporting and analysis, allowing us to view costs by numerous dimensions (account code, business unit, vendor).
- Customisable reports - we have the ability to create reports that analyse the data by a number of parameters that we use to ensure completeness and note any variances to cost month on month.
- Audit trail within reports is easy to click through to get to the source and can be exported at any point. Investigative procedures are easy to perform on unusual movements or transactions.
- Intacct community is a good tool for when there is an issue - response time is relatively good and generally resolves the issue within a day or two.
- VAT on international entities can be an issue - the VAT reporting module could use improvement and has been the biggest cause for concern.
- Foreign currency has caused some issues, in particular foreign currency invoices paid from a bank account not denoted in the entity base currency. We have had to develop work arounds that add unnecessary time onto relatively simple transactions.
- Processing time can be slow for entities with high volumes of data/transactions. In particular, reports we run during our year end will frequently time out and need to be ran multiple times.
- Time saved on year end reporting and audit procedures due to ability to load parallel books. Limited manual reconciliations needed and full audit trail detail easily obtained.
- Issues caused with cashflow due to VAT problems - sales invoices delayed, incorrect vendor payable balances.
- Risk of non compliance on two occasions due to VAT reporting failure. Manual work needed to prevent this taking resources from other necessary projects to ensure completion and no penalties incurred.
Relatively little automation used by our organisation. Recurring journals, automatic reversals and timed reports are the most used automated features but there us a lot more that could probably be used - in particular around accounts payable and additional general ledger (e.g. prepayment module).
The biggest disappointment in functionality was the inability to link reporting to Excel due to the use of Macbooks in our organisation. The direct link between excel and Sage Intacct is only currently operational on microsoft systems but this would have been a huge time saver.
The biggest disappointment in functionality was the inability to link reporting to Excel due to the use of Macbooks in our organisation. The direct link between excel and Sage Intacct is only currently operational on microsoft systems but this would have been a huge time saver.
Limited advanced modules currently in use due to legacy systems in place for processes such as employee time recording, employee expense processing and contract revenue creation and booking.
We have however linked most legacy systems to intacct so there is no duplication in data entry.
Multi entity and global consolidation ability is a necessity in our organisation and this feature has allowed relatively easy performance of tasks. Monthly consolidations are touch button and copes with multi currency entities. The only issue we have had is a lack of knowledge on both sides regarding revaluation and the use of historical rates.
We have however linked most legacy systems to intacct so there is no duplication in data entry.
Multi entity and global consolidation ability is a necessity in our organisation and this feature has allowed relatively easy performance of tasks. Monthly consolidations are touch button and copes with multi currency entities. The only issue we have had is a lack of knowledge on both sides regarding revaluation and the use of historical rates.
Sage intacct provides a better ability to deep delve into transactions and data than other softwares I have used. Its ability to add multiple dimensions to each entry is more advanced than others I have used and therefore provides the most comprehensive reporting abilities in terms of analysing period on period trends and variances.
The international (VAT and currency) related abilities are slightly lacking but the engineering team have worked continuously with us to ensure these issues are resolved and a satisfactory, is somewhat improvised, solution is found.
The international (VAT and currency) related abilities are slightly lacking but the engineering team have worked continuously with us to ensure these issues are resolved and a satisfactory, is somewhat improvised, solution is found.