Sage Intacct Works for Consolidations and Construction.
October 23, 2024

Sage Intacct Works for Consolidations and Construction.

Jake Dalton, CPA | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Sage Intacct

We chose Sage Intacct because it provides the best combination of construction accounting software and the ability to consolidate many entities easily. We need to identify our projects' performance quickly, and Sage Intacct has the reporting capabilities to help us make crucial decisions.

Pros

  • Construction Project Accounting.
  • Consolidated financial statements.
  • Easy reconciliations.
  • Simple links to bank feeds.

Cons

  • Historical searches and transaction research.
  • Editing transactions in accounts payable after posting.
  • Credit card payments and how they are applied.
  • I spend a third of the time making intercompany entries compared to when we used Quickbooks Desktop.
  • I spend a third of the time creating consolidated financials than without Sage Intacct.
  • Our project reporting is instantaneous instead of downloading to Excel and manipulating data.
The automated general ledger has benefited us because we can create automatic monthly entries based on amortization schedules. This eliminates the risk of manual data entry and ensures a more timely monthly close. We have also benefitted from the accounts payable function because Sage Intacct tracks all our due dates and helps us stay on top of our payables.
We use consolidations and project accounting very heavily in our organization. Our tax situation requires us to constantly monitor our income in each entity, and Sage Intacct helps us ensure that income and expenses are evaluated instantly instead of only at month's or quarter's end. These burdens are taken off our accounting staff so we can focus on creating better reporting and analysis for our business.
We could not have configured the software on our own. I would highly recommend finding a vendor to help with implementation. They handled all the heavy lifting, but it does come at a significant cost. They also helped to create all of our essential consolidation and reporting processes. Their help was crucial so we could get going in Sage Intacct.
Quickbooks Desktop works for project reporting but doesn't handle consolidation accounting. NetSuite was very close to Sage Intacct, but it didn't handle intercompany accounting as natively as Sage Intacct. For example, Sage Intacct can handle the intercompany part of a journal entry based on the mapping we set up during our implementation. On the other hand, Netsuite required more custom settings to handle these transactions. Ultimately, we found that Netsuite's maintenance was more expensive than Sage Intacct.

Do you think Sage Intacct delivers good value for the price?

Yes

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

Sage Intacct is well suited for intercompany accounting because it can handle the intercompany lines for you based on mapping within the software. Once your setup is complete, it can also handle the elimination entries with just the click of a button. It is also well suited for a large number of projects to account for. It is easy to set up, and the reporting meets our needs.

Sage Intacct Feature Ratings

9.4
Accounts payable
7
Accounts receivable
9
Cash management
8
Bank reconciliation
9
Expense management
10
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
9
Regulations compliance
Not Rated
Electronic tax filing
10
Self-service portal
9
Global Financial Support
Not Rated
Intercompany Accounting
10
Journals and Reconciliations
10
Enterprise Accounting
10
Configurable Accounting
10
Centralized Rules Framework
10
Standardized Processes
10
10.0
Inventory tracking
Not Rated
Location management
10
7.0
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
7
End-to-end order visibility
Not Rated
10.0
Reimbursement management
10
8.3
Dashboards
8
Standard reports
8
Custom reports
9
10.0
API for custom integration
10
Plug-ins
Not Rated
10.0
Role-based user permissions
10
Single sign-on capability
Not Rated

Comments

  • Bethany McDermott | TrustRadius Reviewer
    Bethany McDermott
    (Vendor Representative) commented a year ago
    Thank you, Jake, for your detailed review! We're delighted that Sage Intacct has been effective for your construction accounting and entity consolidation needs. We appreciate your feedback on historical searches, transaction research, and credit card payments, and we're working to improve these areas. It's great to hear that Sage Intacct has streamlined your processes and enhanced your project reporting. I would like to invite you to join our customer advocacy program to connect more on your experience. Plus, you can access exclusive events, content and unlock Sage rewards. Please use this link: https://na.sagechampions.com/join/IntacctNATrustRadiusReply to join! Thanks, Bethany McDermott, Sage Customer Marketing Manager - Reviews

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