Sage Intacct 2023 Release 2: New Features and Highlights

Sage Intacct’s 2023 Release 2 is here, and it’s packed with exciting new features and enhancements that are sure to streamline your business operations.

From a brand-new developer portal to summary billing for Time & Materials projects, this release has something for everyone. Let’s dive in and explore the highlights!

New Developer Portal: Centralized Access to Tools and Insights

Release 2 comes with a new Developer Portal. This centralized hub aims to provide developers with easy access to tools, resources, and valuable insights into their API usage.

Key features of the new Developer Portal include:

• Detailed API Usage Insights: Access in-depth analytics on your API usage across multiple companies, empowering you to optimize and fine-tune your applications for maximum efficiency.
• Central Location for Developer Resources: Explore a comprehensive collection of developer-related enhancements, services, and upcoming releases, all in one convenient place.
• To access the new Developer Portal, simply visit developer.sage.com/intacct.

API Framework Updates

Sage Intacct has also introduced a few updates to the API framework in Release 2:

• Default Locale: The Intacct XML API now uses en-US as the default locale, without supporting content negotiation.
• Additional Error Information: The <control> element in XML API requests now accepts an optional <showadditionalerrorinfo> element. When enabled, this feature provides more detailed error information in responses to failed requests. If additional error information is unavailable, the new fields in error responses will be null.

Construction Industry Enhancements

For companies with Construction subscriptions, Release 2 introduces the ability to enable reverse conversions for non-inventory line items in Purchasing transactions. This feature allows users to reduce the net amount previously converted for a transaction line item.

To enable reverse conversions, follow these steps:

1. Activate the “Enable conversion reversals for non-inventory items” option during Purchasing configuration.
2. Choose whether to include fully converted lines on a new document during conversion and whether to prefill the conversion amount to zero.
   

   Once reverse conversions are enabled, you can set the new <reverseconversion> field to true for a transaction line item (<potransitem>) when creating or updating a Purchasing transaction. This field requires downstream conversions to have the opposite sign (positive or negative) of the upstream document.

   Several new read-only fields are also available in <potransaction> and <potransitem> query and list responses when reverse conversions are enabled, providing additional insights into conversion details.

Also, Visit -> Financial Reports in Sage Intacct

Project Contract and Billing Enhancements

Release 2 brings several improvements to project contracts and billing processes:

• Exclude Project Contracts and Lines from Forecasting and Reporting: New boolean fields (WIPEXCLUDE and GLEXCLUDE) have been added to PROJECTCONTRACT and PROJECTCONTRACTLINE objects, respectively. Setting these fields to true excludes the contract or line from forecasting and budgeting.
• Retainage Release Flags: A new boolean field (RETAINAGERELEASE) has been added to ARINVOICE and APBILL objects, identifying invoices or bills as retainage releases. This field is visible in read and inspect responses and can be queried.
• Summary Billing for T&M Projects: Time & Materials projects now support summary billing, allowing users to derive billable amounts from actual T&M expenses, bill multiple expenses to a single project contract line, and summarize multiple expenses on a single OE invoice line. The PROJECTCONTRACTLINE object has a new SUMMARIZEBILL field to enable this feature.
  

  Several other objects, such as SODocumentEntry, sotransitem, and ARINVOICE, have been updated to reflect summary billing changes.

Conclusion

Sage Intacct’s 2023 Release 2 brings a wealth of new features and enhancements to the table, streamlining developer workflows, improving construction industry processes, and enhancing project contract and billing management.

Whether you’re a developer, a construction professional, or a project manager, this release has something to offer. Stay tuned for more exciting updates from Sage Intacct.

FAQs

Q. What is the purpose of the new Developer Portal?

A. The new Developer Portal serves as a centralized hub for developers, providing easy access to developer tools, resources, and detailed insights into their API usage across multiple companies. It aims to help developers optimize and fine-tune their applications for improved efficiency.

Q. How can I access the new Developer Portal?

A. You can access the new Developer Portal by visiting developer.sage.com/intacct.

Q. What is the default locale used by the Intacct XML API in Release 2?

A. The Intacct XML API now uses en-US as the default locale and does not support content negotiation.

Q. How can I request additional error information for failed API requests?

A. In Release 2, the <control> element in XML API requests now accepts an optional <showadditionalerrorinfo> element. When set to true, this element allows you to request more detailed error information in responses to failed requests.

Q. How can I enable reverse conversions for non-inventory line items in Purchasing transactions?

A. To enable reverse conversions, you need to activate the “Enable conversion reversals for non-inventory items” option during Purchasing configuration. You can then choose whether to include fully converted lines on a new document during conversion and whether to prefill the conversion amount to zero.

Q. How do I mark a project contract or line as a template and exclude it from forecasting and reporting?

A. You can set the new WIPEXCLUDE field in PROJECTCONTRACT objects to true to mark the contract as a template and exclude it from forecasting. Similarly, setting the new GLEXCLUDE field in PROJECTCONTRACTLINE objects to true will exclude the project contract line from posting to a GL budget.

Q. How can I identify invoices or bills that are marked as retainage releases?

A. The new RETAINAGERELEASE field in ARINVOICE and APBILL objects is used to identify invoices or bills as retainage releases. This field is visible in read and inspect responses and can be queried.

Q. What is summary billing for T&M projects, and how do I enable it?

A. Summary billing for Time & Materials projects allows you to derive billable amounts from actual T&M expenses, bill multiple expenses to a single project contract line, and summarize multiple expenses on a single OE invoice line. You can enable this feature by setting the new SUMMARIZEBILL field in the PROJECTCONTRACTLINE object to true.