Intacct Corporation — Intacct Financial Management

Basic System Functions

Intacct opens into a primary user dashboard that can be tailored to each user’s needs and job roles, with panels for personalized calendaring, accessing key program modules, viewing key data, graphs and reports, and performing other day-to-day or management functions. Initial setup of the program is primarily centered around organization of charts of accounts and company departments, with the system guiding users through these tasks and providing assistance with creation of employees, vendors, customers and other data. Much of this information can also be imported from other bookkeeping systems or from spreadsheets. The program also offers template charts of accounts and other data sets for industries such as technology companies, professional and business services firms, accounting practices, nonprofits, hospitality, healthcare, wholesalers, and franchisees. Each of these industry-focused versions also offers direct access to functions commonly associated with those businesses, such as multi-client management tools for accountants, in addition to the ability to easily perform consolidations and efficiently manage client information.

When working within the program, functions are easy to understand and use, with numerous shortcuts and drilldown links simplifying movement between tasks, transactions, line items and other areas. Likewise, reporting and overview screens are intuitive and easy to use and customize. Additional functions make recurring events easy to manage, with the ability to automatically have invoices or AP transactions prepared and awaiting approval.

The online Intacct system provides an extensive Help utility that includes well-constructed indexes, search and favorites functions, along with task overviews, tutorials and user guides. Online training options are available through Intacct University, which is mainly centered on pre-recorded video guides for general use and setup processes. An online resource center also offers a variety of videos and support tools. Live technical support is included with system pricing. 5

Core Accounting Capabilities

Intacct’s core financial components include a full general ledger, payables, receivables, cash management, and sales & use tax functions, and is fully auditable and Sarbanes-Oxley compliant, providing tight control over user access roles, permissions and other financial controls. Also available are modules for project accounting, purchasing and inventory, order management/fulfillment, multi-currency, revenue management, global consolidations, and integration with Salesforce.com CRM. Intacct integrates with CompuPay or ADP for payroll.

Sales tax rates can either be managed by the company or businesses can make use of the AvaTax for Intacct service, offered in conjunction with Avalara. Through AvaTax, all sales tax rates are automatically maintained for all jurisdictions across the country. Another optional add-on, AvaFile, can automate the filing of all sales tax returns to all jurisdictions. With this automated sales tax support and additional support features, Intacct is well-suited to businesses with multiple geographic locations, even multi-national. Likewise, the multi-currency management functions allow for transactions made in any number of currencies, with automated real-time conversions and compliance with international standards and regulations. The system can also be used to manage multiple separate entities. 5

Day-to-Day Operations

With user-customizable dashboards, Intacct makes role-based tasking very simple and organized, providing quick access to transaction screens and order entry. Intacct does not offer retail-oriented direct point-of-sale functionality; however, Intacct partners have developed integration with all of the leading POS systems. Intacct also provides enhanced order management features that help automate the order-to-cash cycle by streamlining processes. This includes the ability to set flexible pricing options per customer and supplier, as well as variable inventory and warehousing functions. Shipping management is offered through linking with FedEx and UPS. Purchasing and inventory functions help to optimize control over product availability and, ultimately, sales. The inventory workflow process provides detailed configuration options that can support multi-warehoused, multi-part and other complex inventory scenarios.

The system includes exceptional customer and vendor management utilities, with screens for monitoring aging or payables and receivables, along with great search functions that can look throughout the system even down to transaction notes. Vendor and customer data can include significant detail, such as transaction and credit rules that require management override. Employee management functions include expense management and reporting, with payroll and HR functions achieved through two-way integration with ADP. The company also added staff time tracking functions in May of 2010. 4.25

Management Features

Intacct dashboards offer excellent user-definable access and oversight into key business areas and processes that are most frequently needed. Graphical or numerical data can be displayed, including cash flow, revenue, period-based comparisons and other information, and users can set up multiple dashboards for different areas of concern. The system also provides excellent reporting and invoicing utilities, with the ability to define and create reports by any format or need as well as the ability to perform analyses and consolidations or to produce full financial sets. The accounting suite is built with intensive security options, including role- and user-based permissions for accessing any areas of the program, such as client and employee data. A full-time audit trail captures all transactional information. 5

e-Features

As a web-based accounting system, Intacct naturally offers anytime remote access from computers and smartphones, along with built-in client communication tools for electronically invoicing and emailing invoices and other documents. There are no specific apps built for Intacct smartphone users, but with web access, users can utilize most system features. Users can even batch process email invoices, making period-end invoicing tasks much simpler. Electronic banking and payment options are not built-in but are available through integration with outside service providers. 4.25

Integration/Import/Export

Intacct offers direct import of Excel and QuickBooks data, and provides two-way integration with CompuPay and ADP for payroll and employee benefits management functions. Reporting can be output into multiple file formats, including Word, Excel, PDF, XML, CSV and can even be emailed directly from within the program. Integration with Salesforce.com is useful for CRM functions, while additional integration is available with third-party electronic payment solution providers and with Avalara for sales tax automation. Businesses can add their professional accountant as a power user (for an additional cost), thereby enabling the accountant to perform real-time write-up, management and audit functions remotely. 4.75

Summary & Pricing

Intacct is not a simple bookkeeping system that’s been thrown into an online platform. It is a powerful and fully comprehensive accounting system that can manage complex and diverse entities securely and while maintaining appropriate compliance. While it offers inventory management utilities, it is best suited to service providers and professionals, as opposed to truly inventory-focused retailers. Pricing is based on the user roles and the system modules to which they will need access. For a master “power” user and a few role-based users, pricing starts at about $400 per month.

2010 Overall Rating 4.75