Sage Intacct (SI), a cloud-based Enterprise Resource Planning (ERP) and accounting software, has released many great new features that non-profits everywhere will find extremely helpful. Bank feed is a fairly new feature that allows us to connect the accounting system to your bank or other financial institution.
SI bank feed features lets the user download all bank transactions directly to their accounting system and automatically matches them to the existing transactions on their books. This eliminates the manually matching process, saving a substantial amount of time. One can also reopen a reconciliation from any prior period with ease, make adjustments within the same window, and attach any backup documents to a specific entry directly from the same screen. Bank feeds are available in other accounting applications as well, but what makes SI Bank Feeds different is the application as a whole. SI continues to integrate Artificial Intelligence (AI) to all its modules, proven to be extremely helpful for accountants by reducing the time needed for data entry. Furthermore, when Accounts Payable is automated with applications such as Bill.com or Tipalti, your organization’s finances can be viewed in real-time. SI also offers an advanced audit trail to track all data entered, edited, or deleted from the system; this is extremely helpful for accountability and regulatory purposes. As a result of these efficiencies, organizations will have much less manual work at the end of the month, a more accurate picture of their financial standing on a timely basis, and the ability to see analysis and trends! SI keeps transforming and improving to bring more capabilities to clients. We will see many new features in the upcoming months.
To find out more about Sage Intacct Bank Feeds, please visit the link below or contact the Kiwi Partners' Consulting Team.