What Is Sage Intacct Accounting Software?

8 min read

February 15, 2024

Accounting software is an essential tool in business operations. It improves accuracy, efficiency, and security through automation. Plus, it's a powerful management accounting tool, providing reliable financial and management reports with up-to-date financial data designed to support data-driven decision-making.

Since accounting software is so vital to business operations and success, selecting the right accounting software for your business is an important decision. There are countless options to choose from. Each works differently and offers different benefits and drawbacks. Among the most popular accounting software suites available today is Sage Intacct®.

What Is Sage Intacct?

Sage Intacct is an accounting software suite developed by the Sage Group. Intacct is a leading product in both accounting software and financial management software, and it has earned a "best in class" rating for many of its features. 

What sets Sage Intacct apart from its competitors is the highly customizable nature of the software. Each user's basic software package is constructed from a variety of modules that are hand-picked and custom-curated to meet each user's needs. Additionally, clients can choose to have as many unique accounting software users as needed. 

With this product model, clients receive and pay for the exact accounting software suite they require. They do not need to pay for or have their dashboards cluttered with tools or features that they never use. 

Read More: The Pros and Cons of Outsourced Accounting Services for Businesses

What Can Sage Intacct Do?

Sage Intacct's core modules are designed to provide users with a customizable control dashboard and comprehensive management of their financial processes including:

• General ledger
• Cash flow
• Accounts receivable
• Accounts payable
• Order entry
• Purchasing
• Reporting

Advanced modules are also available for customers whose back-office needs require support for additional operational and financial processes such as:

• Expense management and categorization
• Dynamic cost allocations
• Check delivery service
• Time tracking
• Inventory management
• Global consolidations for multiple entities
• Multiple currency support and consolidation
• Project-based reporting, costing, and billing
• Contract and subscription billing
• Contract revenue management
• Fixed assets
• Spend management
• Sales and use tax
• Custom report writing
• Planning
• Digital board book
• Revenue recognition
• Salesforce integration

Additionally, users can access more than 350 integrations via the Sage Intacct Marketplace. These integrations are designed to further expand the software's capabilities for the collection of financial and non-financial metrics, human capital management, enterprise resource planning, and more. 

Who Is Sage Intacct's Ideal User?

While the Sage Group offers a variety of business and financial management products designed for businesses of all sizes, Sage Intacct's specific, ideal users are fast-growing, mid-market businesses. The largest portion of Sage Intacct's users are businesses with 100 to 249 employees. Most businesses, decide to switch to Sage Intacct when they have outgrown the capacity and capabilities of QuickBooks Online. 

It's important to note that Sage Intacct is also designed to accommodate industry-specific businesses with unique customizations and modules for every type of business. Some of the industries Sage Intacct is designed to accommodate include:

• Professional services
• Financial services
• Software as a Service (SaaS)
• Hospitality
• Healthcare
• Nonprofit
• Energy
• Telecom
• Wholesale distribution
• Transport

The Sage Group also offers a product, Sage Construction and Real Estate, that is designed specifically for construction companies and contractors. 

Top Sage Intacct Features and Benefits

Sage Intacct is a robust accounting software product with great flexibility and a wide array of features and benefits. 

Custom-Curated Software Package

As noted above, Sage Intacct is a custom-curated software seamlessly crafted from individual core modules and advanced modules that are hand-selected to meet each user's unique needs. 

Cloud-Based and Automatically Updated

Sage Intacct is 100% cloud-based. This means it is fully accessible and all features are fully usable from anywhere, facilitating easy business travel, remote work situations, and third-party collaboration. 

With the software being fully located in the cloud, there is no need to install software on a computer and no need to worry about keeping up with updates and new feature releases. The cloud-based software automatically updates quarterly to ensure every user is working with the latest version, the best security, and current features. 

Sage Intacct Automation Powered by AI

For increased automation, Sage Intacct features AI-powered tagging/categorization as well as AI-powered anomaly and error detection. 

Customized Dashboard and Menus

Each user can customize their own dashboard, lists, and menu of favorite functions and reports. This increases the usability of the software, making it easier for everyone to access the exact features, reports, and metrics they need when they need them. 

Multidimensional Reports and Management Accounting

For better management reporting and management accounting applications, Sage Intacct has dynamic reports. The software allows users to define various dimensions for their reports. These dimensions are especially useful for unit economics and cost accounting. By tagging certain costs or revenue with various dimensions such as location, department, employee, client, job, or other class, you can easily toggle between granular and global report views. 

Multi-Entity and Multi-Currency Compatible

Sage Intacct is also designed to house multiple entities in an individual account. With multiple entities, you can easily switch between your charts of accounts to view an individual report or a globally consolidated report. 

Plus, Intacct is compatible with multiple currencies and provides automated currency consolidation, making it an excellent accounting software option for businesses operating in more than one country. 

Endorsements and Compliance

Sage Intacct is currently the only accounting software with an official endorsement from the American Institute of Certified Public Accountants (AICPA), and it is compliant with the generally accepted accounting principles (GAAP).

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Flexible and Scalable

Sage Intacct has no user limits and is designed to accommodate a high transaction volume, employee volume, and vendor volume. As a result, it is highly flexible and agile so that it can grow and adapt as your business expands and its needs change. 

Customizable User Permissions

With a high number of users accessing your accounting software, the ability to create unique user permission sets is essential to your data's security and integrity. With Sage Intacct, you can create a variety of different rulesets and assign each new user to a set of these rules. With these rule sets, you can then control which users have certain permissions and access. So, some users can edit data or push approvals, while others are only able to view certain reports. 

Built-In Collaboration and Communication

Sage Intacct features built-in communication and collaboration tools, such as discussion threads and instant messaging. Plus, these features are @mention-enabled, so that you can easily tag a user in a comment to make sure they are kept in the loop. 

Alerts and Notifications

Each Sage Intacct user has an alerts and notifications setting available in their menu. They can set these to push their notifications and alerts for @mentions, certain thresholds, or when approvals are needed. 

Hundreds of Out-of-the-Box Integrations

In addition to Sage Intacct's core and advanced modules, the Sage Intacct Marketplace is populated with more than 350 fully integrated applications from third-party developers and partners. While these applications come at an additional cost, they can be used to expand Sage Intacct's capabilities to no end. 

How Much Does Sage Intacct Cost?

Sage Intacct does not publish its prices. As each customer's software package contains its own set of modules and user numbers, each customer's software package is individually priced. On average, the initial subscription for Sage Intacct can range anywhere from $10,000 to $25,000 or even $30,000 annually. 

To determine what Sage Intacct might cost your business, it is necessary to schedule a consultation with one of the company's representatives. During this consultation, they can get a better idea of the type of package your business would need and provide you with a more specific estimate. 

Make the Most of Your Accounting Software Investment With Outsourced Accounting Services for Businesses

With all of its features and benefits, Sage Intacct is an excellent option in accounting software for mid-market companies. The software, however, does have one primary drawback, and that is its usability. Since Sage Intacct comes with so many options and so much potential, it can be difficult for most business leaders who are not financial experts to know what features their businesses actually need. Sage Intacct also has a bit of a steep learning curve, especially when compared to QuickBooks. 

For this reason, it is highly advisable to pair your investment in high-powered accounting software with an investment in an experienced outsourced accounting team. Sage Intacct readily facilitates the collaboration between outsourced accounting service providers and businesses, and this pairing can help you leverage all of the tools offered by Sage Intacct to improve your business's management, operations, efficiency, and productivity to maximize profits and success.