Easy Chart of Accounts
September 01, 2023
Easy Chart of Accounts
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with Sage Intacct
We use Sage Intacct for AP, AR, General Ledger, Bank Reconciliations and Financial Reporting. Sage Intacct addresses issues related to having vendor invoices in the cloud and being able to drill down from GL up to invoice level. Financial Reporting is not that great in Sage Intacct though. It does not round numbers accurately. The formulas on a financial statement are independent of each other. Hence if a line is incorrect, you will not be able to identify it easily, unless you check each and every line.
Pros
- Having the different approval levels and assigning the task to the relevant manager. Eg: We are able to assign all bank related journal entries to the Manager, Treasury and Bank Reconciliations. All AP related are assigned to the Manager, Accounts Payable. We did not have this function in Sage 300 which we used earlier.
- We are able to drill down at the GL level which takes us to the invoice.
- We can attach all backup related to a journal entry in the system itself. This makes it easy for whoever is viewing or approving, without having to look elsewhere.
Cons
- Sage Intacct does not round accurately. It rounds anything less than 0.5 up and more than 0.5 down. The general form is usually other way round. Would like to see this being changed.
- The help feature is not easy to understand. Would prefer having short videos or easy to understand explanations on a particular feature.
- The Report Writer is not straightforward. It is based on account groups. If a new account is created which is not in that range in the group, it will not pick up on the report.
- If there is an error on the financial statement formula, there is no way to tell if the statement is accurate or not by just looking at it at the high-level. You have to reconcile each line to the TB to ensure the entire statement is accurate.
- Sage Intacct decreased month-end close from 10 days to 03 days.
We have benefited from linking the revenue file from the CRM software to Sage Intacct monthly.
We have not started using any of these modules currently
Do you think Sage Intacct delivers good value for the price?
Not sure
Are you happy with Sage Intacct's feature set?
Yes
Did Sage Intacct live up to sales and marketing promises?
Yes
Did implementation of Sage Intacct go as expected?
Yes
Would you buy Sage Intacct again?
Yes
We had worked with Sage 300 version 2016. It had not been upgraded. We found Sage Intacct to be easier and it was easier transitioning from Sage 300 to Intacct.
Comments
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