Is Your Business Outpacing the Capabilities of QuickBooks?

Okay, so what exactly are teams saying about QuickBooks? And just to throw a number out there, we normally switch quite a few companies off of QuickBooks a year. I would say it's our number one platform that we switch off of so, these things or these items I'm about to go through are pretty common. So the first thing that CFOs accounting teams are saying about QuickBooks is they have a lot of desperate tools and data. So QuickBooks isn't enough sometimes and sometimes they have to add one additional functionality in addition to QuickBooks just to make things work. A lot of the companies we work with have multiple entities, and if you're using QuickBooks and you have multiple entities, then you understand the pain of intercompany, of logging in and out of the different QuickBooks files just to get what you need. Lack of visibility. I think QuickBooks is a really great solution. Once you start to grow out of it, then lack of visibility becomes a big problem. Most of the times we're seeing people export reports out of QuickBooks into Excel, and then you have a million different Excel files. Speaking of Excel spreadsheet overload and guesswork. This comes into the fact that you're exporting reports out of QuickBooks into Excel, and sometimes it's hard to take in that information and understand it. Tedious month-end, like we said, there's a lot of guesswork that you're doing with QuickBooks and that kind of goes into your month-end. Burdensome audits, so there becomes a lack of control and best practices with QuickBooks when you start to grow out of it and you start to become a bigger organization and that reflects in your audits. And then absence of control and best practices. QuickBooks is meant for small businesses. And then when a medium sized organization tries to fit themselves into QuickBooks, I think we're seeing a lot of problems there.

So making the move to Sage Intacct. We're going to talk about QuickBooks, we're going to talk about Intacct today, but what exactly is Sage Intacct, and I could probably tell you in my sleep what Sage Intacct is, but the long short version of it is Sage Intacct is a cloud-based best in class accounting solution. So that first portion cloud-based, it lives in the cloud. So unlike QuickBooks Desktop, at least you're not having to host it on a server. Then that second portion best in class, that just means that Sage Intacct is excelling in these areas, accounting, ERP, planning, analytics, payroll, and HR where it necessarily doesn't want to spend its R&D dollars out. And there are phenomenal other systems in the market it's able to connect in. It's able to connect to those systems to pull information from those systems into Sage Intacct. So some of those systems they have an excellent connection are Salesforce, ADP, bill.com, EMRs for our healthcare organizations out there, project management systems for our construction and project based businesses. It does this through open APIs and data feeds. APIs are just the way systems talk to one another and data feeds we're always able to export information out of various systems and import into Intacct.

So a little bit more about Sage Intacct Intacct is the only financial management solution that is endorsed by the AICPA and whenever we were partnering with Sage Intacct and looking for a solution to partner with that accreditation is very important to us, but for a lot of our clients, the other two light bulbs you see here are for trust radius in G two, and that's where end users can go out and put reviews on software, whether those reviews are good or bad. Sage Intacct is ranked number one in customer satisfaction. The fourth light bulb you see here is actually a new one that Sage Intacct one from the SaaS CFO, Sage Intacct ranked number one in five different accounting categories. Sage also releases four main feature function releases a year, and in those releases are different items like strengthened financials. They're developing their AI inside of Sage, Intacct, whatever it may be. Sage Intacct is automatically pushing those releases out to their customers. And the last two light bulbs really talk to Sage as a whole. So Sage does offer a buy with confidence guarantee. Really they maintain their customers for life.

So there's a question in here. Is Paylocity also a connected solution? I think Paylocity has integration, but I'm going to have to double check. You'll know before this webinar ends, I'll go look it up. Okay, so what industries are supported by Sage Intacct? So all of these industries here, in fact, Sage Intacct has specific solutions for each one of these industries. Healthcare, for example, Sage Intacct has created what we call an EMR Connect to pull financial and statistical data from the EMR to Sage Intacct. If you're a construction company, there's other specific functionality around your construction needs that Sage Intacct has added into their system. And which industries does Eisner Amper work with? We work with over 20 plus different industries. So we've really run the gamut when it comes to learning different industries. So if you go through an evaluation process with Eisner Amper, we've probably already worked with someone in your industry.

Karen Penhallegon:All right, thanks Emily. I'm going to take over for a little bit from here, I'm going to talk through some of the things that make Intacct unique and make it different from QuickBooks. So I'm going to go through some of those pain areas and how Intacct can help you address 'em. And the first one we're seeing here is part of what I call the multi everything architecture. So Intacct, like Emily mentioned, born in the cloud from day one, but it was also born to be multi-entity from day one. So it was created originally by finance and accounting professionals who were seeing this lack in existing systems to help companies that had multiple entities. They're very separated in QuickBooks. You don't have consolidated reporting. It's not easy to do intercompany entries and Intacct. Everything lives in a single environment. So you'll have a single shared chart of accounts. You can have single shared vendor lists, customer lists, any of those other dimensional values we'll see in just a minute. And you can have auto balancing entries. It's got native consolidated reporting and we can also, we'll talk more about security later, but security can also be controlled by entity. So if you have certain users who shouldn't see some of your entities, that's no problem. We can handle that with security.

Another major differentiator is the multi-book functionality. So all accounting systems have a book, maybe an accrual book usually for most systems if it's QuickBooks, you have an accrual book and you have sort of not exactly a cashbook but a converted to cash report. Intacct truly has multiple books. So you have separate accrual cash, you can also have gap and tax books. Those are all standard books you turn on with just a click of a button. But you can also create as many user defined books as you might want. So if there are other books that you need to track different entries into report on things in a slightly different manner, but you don't want to affect your accrual or gap books, then you can create a user defined book to help you with that.

And this last one I think is really intact superpower and that's, I've got a couple more slides on dimensions that are upcoming. But in summary, what a dimension really is, is a tag or a field that you can select on a transaction and these exist across all the different types of transactions within the system. So it gives you that ability to slice and dice your data in a lot of different ways. So when I'm comparing it to QuickBooks, I tend to think of it as it's like the class, but really on steroids because you have a lot of different ones and they're into the system with pre-built reportings. Another advantage over classes is they have built-in abilities for hierarchies and groups. So we'll see some of that whenever we flip to the demo in just a moment.

Karen Penhallegon:I do want to break for just a second. I do see a question that just came in. Is Sage Intacct related to Sage 100 or 300 for construction? And if so, how are they different? Their only relationship is they're both owned by Sage. They are very, very different solutions. Sage 100 and 300. So if you've had these solutions for a while, they may have been known as Mass 90 or Mass 200 or Timberline. Those are on-premise solutions. They've been around since probably the eighties at this point. And so they're not true cloud solutions. They do use an older architecture. You're going to see a really big difference when we get into Intacct and how they look as well because Intacct has a very modern user-friendly interface, whereas these solutions have definitely an interface that you're probably going to feel like you were still in the nineties if you're working in them. So definitely some major differences there. If you have something specific, Tammy who asked that question, you can ping us. I'm happy to have a separate conversation on those solutions as well. Great question.

Okay, let's move on and look a little bit about where do dimensions come from and and QuickBooks. This might also be a class which you probably have some sub-accounts potentially that you're separating things out with. This is just a simple example of how your accounts may be structured, and this is what I would call the old school chart of accounts. What Intacct does to make this dimensionalized is it's actually breaks everything out into individual fields or dimensions. And so rather than having to repeat an account number multiple times, instead we have a single GL account, we have a location list, a department list, maybe it's a project or a job list, whatever other dimensions we might want to use. We'll see some more examples in just a moment. So these are very, very useful. Not only in that they simplify your chart of accounts for reporting purposes because they do, they really turn your GL into a giant pivot table. They also simplify data entry because there's not so many things for people to select from because they're all broken out into individual fields.

Excuse me there, I'm recovering from a bit of a cold, so I apologize if I cough in anyone's ear. So what are some of the dimensions we have here, some of the standard dimensions that Intacct offers and that we often see our clients use? We will see all of these in the demo and I'm about to show you in a few minutes. Entity and location for example, those work together really. Entity of course is your legal entities, but you may have additional locations beneath those. Very commonly we see department items if you're using a purchasing solution or if you need to have more complex billing for your customers, you could use items or if you have inventory, project and task is really huge for nonprofit companies. If you're checking grants for example, we often use Project as grant for construction companies. Of course you're going to have jobs, all sorts of different types of companies are tracking projects and jobs and Intacct is really fantastic at project accounting. These last are kind of what I call the who of a transaction. So if you have the top couple or the where, then these last three are the who, the customer, the vendor, and the employee. So we're going to see examples of all these as we go through some of our demos in just a few minutes, but just some high level examples of the ways that we often use dimensions in the solution.

Karen Penhallegon:Okay, so what I want to do now is spend probably 20 or 30 minutes just walking you through some of the different functionality and the automation features of Sage Intacct so you can kind of get a feel for some of the ways that we can make your life a lot easier if you're in a modern financial solution. So let me pull up my screen so I can share it with everyone. Give me just a moment, Emily, I'm going to get you to confirm for me when you can see it. We can see it now. Perfect, thank you. Takes a moment to come up always. Okay, so I'm going to walk you through just a high level overview of a little bit about Intacct. I like to start out sort of at a higher level and talk a little bit about security and accessing Intacct. So Sage itself, Sage Intacct is a cloud solution.

What that means is that you're going to log into it from a browser so you don't have to have anything installed on your computer. You're literally just going to log in as long as you have in there access and a browser. You can get into the solution. It doesn't matter which browser you prefer. I'm going to be using Google Chrome today. That's just my preferred browser. But if you use Edge or Firefox, any of the other major browsers, you can absolutely use those when you log in. So there is a lot more built in security around Sage Intacct. Each user has a named login and it will have dual authentication. So you are required to have a dual authentication, so either an app or you have a text message that comes to your phone. So that helps control access to the solution and each user will have a role.

And so these roles can be very granular. So it's one of the major pain points we often hear with QuickBooks is I can't give other people access to the system because they can see and do too much because there's not as much control over those users. In this case, we can control down to tasks. Can this user see AP bills? Can they enter AP bills? Can they do nothing at all with them? So we have every single task and the solution has all those options for whether people can use and see them once you're in the solution. The navigation is primarily done through a call, this little navigation bar here across the top, the gray bar. So for example, within the applications drop down here, you'll see all the applications you have access to.

And so that's how you would generally navigate around the solution. So for example, if I'm going into accounts payable, I can click there out to the right, will pop out all of the different application tabs that I have access to. Now the nice thing about this is I'm logged in as an administrator named Emma, but someone who logs in who does not have administrative rights will not see everything. They're only going to see those applications that they actually have access to. You don't have to worry about someone coming in here and clicking on things they shouldn't be. It's simply not going to be in their list at all if they can't access it.

Karen Penhallegon:Similarly, you'll see here at the picker right above the application picker, the entity dropdown, you're going to see that I'm currently sitting at what's called the top level. What that means is that I can see and transact in any of my entities from here. So my example company here, I have three entities set up, but from the top level, my reporting for example is consolidated across all of those entities. I can drill down on those entities and filter down to just see a single one, but I really never have to leave the top level to do that. I can simply do filters or when I enter a transaction, I choose the entity I'm entering for that transaction for. So I'm not having to log in and out of companies or any of that. Everything can be done from this one place.

Now I'm going to be using a little shortcut today for navigation because the application dropdown contains a lot of different tasks. So we encourage all of our users to create shortcuts or bookmarks. I'm going to use these bookmarks today. So we'll be using some of these just as we go through our various examples and screens as an easy way to click into any of the tasks that you commonly use. So you can create unlimited number of bookmarks within the solution and these are unique to each user. So just an example, let's hop over and look at one of our dimensions and that's the location and entity dimension.

Excuse me. Alright, so what I'm seeing here is the entity and location list view. So list views are how you access data within the system and see e list of data. I'm also seeing here that hierarchy that comes inherent with Sage Intacct. So I can see that Entity 100 for example has two branches that live underneath it. I, I'm actually coding a transaction if I choose one of these two branches as a location in Deck knows that that belongs to entity 100, that that's their parent. And so it's going to automatically roll up any MI reporting to entity 100. So you can see have an unlimited number of locations or other levels of hierarchy if it goes further deeper than this, you can have parents, children, grandparents, grandchildren, et cetera all the way down. So we'll see some of these examples as we're going through transactions in just a little bit and looking at reports. That's how Intacct knows though, is we set this hierarchy up here at the beginning when we set the system up. This can be done for almost any dimension we can use these hierarchies. I am I missing any questions so far? Please interrupt me Emily if I miss it. I can't see it.

Emily Madere:No. Yeah, I am answering one right now, but I guess we could probably just take this one from John. We are a nonprofit organization and you mentioned there was a grants module, is there an extra cost for this module? And I was typing response back to you and I think first off, I think 70% of Sage and Tech's customer base is for nonprofits. So they work really well in the nonprofit space, but also Sage and Tech has a bundled bundle list of products for nonprofits at a really great price. So it really all just depends.

Karen Penhallegon:It includes the grants, yeah, the bundle.

Emily Madere:It does, it really just depends on what your budget is. Karen and I believe in full transparency along the sales process as well as implementation. So we would just have a conversation with you and just figure out what exactly you need and how Sage inta can help.

Karen Penhallegon:Yeah, that's a great question. Alright, so let's come back to this dashboard for a second. But I think reporting is one of the other major areas that we see a lot of people looking for in new accounting systems. Not just consolidated reporting but really just reporting that you can modify and that's flexible and easy to use. And so I like to spend a little bit of time just talking about dashboards and Intacct because we can see a lot of different types of reports right here on a dashboard all at once. You can create unlimited dashboards within Intacct. I have a lot created in my demo company. I have a few here just listed as examples. You might have this, I call this my executive dashboards sort of a high level overview of the company, but you might have role specific dashboards like AP or AR manager dashboards.

You might have specific dashboards built for a month end with month end reporting and checklists on them. Lots of different ways that you can use dashboards and you're able to create all these yourself. So we are happy to help you create dashboards, but one of the fantastic things about Intacct is there's nothing that we can do that you can't. So if you want to be self-sufficient, create your own dashboards, create your own reports, we are going to give you the tools to do that. So a few things on this example dashboard just to show you some of the different pieces and how it works. Across the top here I've placed a few performance cards. So that's these little boxes here across the top. These performance cards can be any number of things. They can be financial data like you see revenue or expenses. They can be calculations like profit margins and they can also be non-financial data.

So we call this statistical data. So maybe it's number of clients, number of jobs, number of new orders. We see this being very specific to each industry. So sometimes in healthcare we'll track things like number of patients or new patients or number of beds in a hospital facility. Lots of different ways that we can use that data. And then it can be combined and blended in with your financial data as well. So here we're simply reporting on it, but you could also run thing reports like what is my average revenue per client for example? So all that can be used in the system in all the different reports that you'll see.

Another nice thing about these performance cards, they're actually very flexible. These happen to all be for this month. I know it's probably a little small. Lemme zoom in just a tiny bit here. So these are all for this month, but they can be for any reporting periods you'd like. So whether you're looking at a week, a month, a quarter, a year this year, last year, any of those, you've got a lot of flexibility within your reporting periods for these. And we can also do comparisons within these. So returning what's sometimes just a static number that's just sitting on a piece of paper and an actual actionable item. So are we over or under budget right now for example, or are we doing better or worse than a prior period? So you can see here might all happen to be green. You can have different little symbols for them if you like. And then this just gives you a quick view and a way to actually see without having to go run a couple of reports, compare numbers, figure out if you're doing better or worse. It just tells you right there with a green or a red arrow.

Emily Madere:And Karen,

Karen Penhallegon:Yes,

Emily Madere:We do have a question from Benny. Is there a limit of users allowed with Intacct per company?

Karen Penhallegon:Good question. There's not a limit. It is licensed by user depending on user type. So we'd want to dig a little bit into the types of users that you need, but there is no limit on users. We have clients that have a hundred users and we have clients would have one user. So there's absolutely no limit. Great question. All a couple other just little pieces that I'll show you down here on dashboard. This is just some more examples of different types of reporting that you can get out of the solution. These are some of the standard reports that come with Intacct. This first one is a profit and loss by location. Intacct comes with I think about 35 or 40 financial reports depending on your industry out of the box. This is one of my favorites because almost everyone at least has multiple locations. This is a summarized profit and loss.

So it sort of is rolling things up into their major categories or groups and the rows here. But on the columns you'll actually see these as individual entities broken out in the columns. And then we've got a consolidated amount over here on the right. So you can see very quickly I didn't have to do anything just because I'm at the top level, I can see all entities and I'm quickly seeing each entity's numbers and the total. Similarly, this can be done for any dimension. So if you're using departments, another commonly see is budgeting by department. Very common. Here's an actual to budget by department report you can see it's actually this one in particular has conditional format on it. So it's highlighting areas that are very high or very low and you can quickly scroll over. This is a larger report because it's got so many departments in it, but I'm seeing actual budget and variance for every single department right here. So if you have budgeting, budgeting can be dimensional as well. Maybe you budget by location, by department, by class, whatever it may be.

Karen Penhallegon:We also have charts and graphs available. Now point of everything I'm showing you right now is really base intact. There are some additional add-on modules that make it even more powerful, but I really think that built-in financial reports and these are called financial graphs are incredibly powerful. So I always start here if you want more sophisticated BI reporting, it's there. But these are really great reports because again, we can break things down by those dimensions and I'm going to show you how those dimensions get coded in just a moment. But we'll see here operating expense by department for example, I've got a nice little pie chart that's breaking down for me. I can click and drill into it. If I hover, I'll see the little number, but I can also click show data and it will just give me the data. It's making up the chart. I can flip back and forth here and I can do all different sorts of data. So whether I'm doing statistical data, here's new client trend. So I'm actually tracking a trend over time.

It can be lots of different types and styles of charts and graphs that you can use here. Last thing I'll talk about here on the dashboard before I go look at some actual detailed transactions is filtering. So you'll see this on the white bar where the dashboard is at. I have a number of filters available. Now the date, my dashboard's a little bit old, so I've got a back dated as of date here. Normally you would probably leave this as of today, which is the default so that you would be able to just see the current data, which you can use any date you want for your dashboard. I also have a couple of other filters. I have a department filter as well as a location filter.

This is where I can see for example, some of the groups that I have set up. So I've got things that maybe I've group things into regions, maybe I group them into operating versus non-operating companies. Lots of different ways you might group your locations and entities. If I choose one of these groups or even just a single location and click apply, all of these reports on the dashboard are going to refresh automatically and be updated just for the one entity. So now I'm seeing entity one hundred's data. I can actually see here on profit and loss updated. Now it's showing those branches instead of the entity as a total because it knows that those are children of entity 100 and everything on the whole page is updated. Every single report will have refreshed just for this entity. That's the example of how you can work with multiple entities in here. It's very easy to just filter back and forth just seeing everything or just seeing one entity.

So people sometimes will ask me at this point in a presentation, well this is great, but what do I do with this? Now that I have this dashboard, I think it's really important for everyone to understand where's the data on this dashboard coming from. And the beauty of Intacct is that we can actually just drill down into any of these different widgets and see the data that sits behind it. There's a few different ways you can drill down. You can drill down into performance cards. If I click on a performance card number, I'm going to get a little report of what's in the performance card.

Excuse me. If I drill into one of these charts, it'll actually run the report behind the chart for me and give me that information, whether it's the admin department expenses, I'll see that. I can also drill down to any of these blue numbers here that are on a financial report. So lemme just show you a little something here. I'm going to actually open this up in a full screen. So there's a little magnifying glass here that lets you open a full screen and we'll let this run out to full. And now we're actually seeing kind of the bigger report, right in a larger, easier to view. And what I'm seeing now is this is actually groups here of GL accounts and now that I'm in this full view, I can actually open these up and look at more detail. So maybe for example, I have some questions on what's in utilities and facilities.

Maybe it seems high this month. I can open this up. I'm going to see all the GL accounts that live underneath that and then I can actually continue drilling down. You see these numbers are still blue, so maybe I want to see what's in repairs and maintenance right now. This number maybe seems a little high. I can open that up and this is the actual general ledger report that generated that total number. So here's all the transactions that are going into that number. I can continue drilling down from the general ledger report. If I drill into one of these numbers, I'll actually get down into the individual transaction that created the number. In this example, maximize this, it's a bill. This is a vendor bill for shore waste management. I can see here across the top some information on the bill. It was for $800.

It's been paid all this header information here. Who was the vendor? What was the bill number? When was it due? I can also attach documents. So you can attach documents throughout Intacct, not just on bills but really on any transaction or screen. But in the case of ap, we see it very commonly used. Should it be able to attach bills, come back to AP automation in a few minutes and show you how that can actually be an automated process for you as well. But then I'll see down here in the actual entry section, this is where the coding for those dimensions is happening. So you can see here I've got my GL account repairs and maintenance. I have an amount, and this is actually a bill that's been split across multiple entities. So I can see here it was for the admin department for both entities 100 and 200. And then I have a little memo in here as well that I can type in. There's additional data down below.

Emily Madere:Yes, Karen, they're not seeing the drill down.

Karen Penhallegon:Oh, the drill down didn't work. Hold on just a moment. Let me stop sharing and reshare. Let me see what's going on. I'm so sorry. Just a moment here. Let me see. Thank you for telling me that you should have yelled at me earlier.

Emily Madere:No, it wouldn't be a webinar. Sage Intacct webinar if we didn't have technical difficulties,

Karen Penhallegon:If something didn't not show correctly, let's try this again. Let me reshare again.

That might be what happened.

Did it come up again? Yes. Let me actually start over then. So I'm going to drill down from here and show you guys the actual bill. So this is the general ledger report. I'm assuming you did not see this before. That shows us all the transactions that went into my repairs and maintenance account. This is where I can drill again, maximize that, and here's the actual bill itself. So we're seeing that now, right? Got it?

Emily Madere:Yes, yes.

Karen Penhallegon:Excellent. Sorry about that. Alright, so here you'll see just a bill, right? It's got for sure waste management. I can see how much it was for the fact that it's been fully paid. I can see information like the due date, the bill number, et cetera. I can also see a little popup of the PDF that's been attached for this bill. We'll see attachments in a few different places, but there's just an example of the PDF here and then importantly in the entries area, the coding of the actual bill, so repairs and maintenance GL account. And then I've got two different entities. Entity 100 and 200 both are sharing this bill and it all belongs to department 300. So if I actually click into a row, I can show details and I will see other things on this bill. So if there are other dimensions that you might be using, you can actually customize the views of the screen to put additional dimensions appear on the top if you'd like, or custom fields if you have them. So lots of flexibility in the screens here as well.

All right, let me go ahead and head back to my dashboard. There's a good example of a drill down. I'm going to very briefly also show you that you can edit your reports as well. I want to make sure I'm watching my time and that we have plenty of time at the end for questions. So you'll see here I have a little pencil. Not everyone can edit reports. This again depends on your are permissions, but I have the ability to edit reports and we often will base reports on a standard report. We can easily duplicate any report in the system. So we'll start with a report that's close to what you want and we will just modify that report and duplicate it. The account groups that you see here, it's important to understand that these are built into the system and it's something that we help you work with your chart of accounts to design the account groups.

But the goal being that day one, when you come in the system, you're going to have financial reports. So you can see here this is just an income account group that is currently selected because it's a profit and loss, but you can select any of the predefined account groups, which there's a lot. So whether it's balance sheet data, income statement data, EBITDA calculations, EBITDA is a very common one that we'll see. All of that can be easily added onto reports, which is a few clicks. You can choose whether you want to see it in detail or in whatever level of summary you might want. And I can even just preview it right here from this page before I save the changes to see what my change will look like. So there's EBITDA numbers right there.

So that's one example of editing or report to add things. We can also change the columns of a report. So you can see here right now I have account name and this column is actual, which means actual GL data. Here's the reporting periods I mentioned earlier. These are all the standard reporting periods you could choose from month to year prior year. If you have a different fiscal year than calendar year, that can be set up as well, even down to individual days or trailing. So if you do a trailing year, one year report for example, you can also expand reports by either dimension or time period. So this is what's creating all the different columns. For me it's automatically expanding the data based on the location dimension that I selected. But I could also choose time period instead. Maybe I want to see a trailing 12. So if I choose a trailing one year and expand it into months preview, I've just created the trailing 12 month report and there we go. There's our months across the top.

Karen Penhallegon:So just a quick example, I could spend all day in the report writer because it's so powerful, but just to give you a little taste of it there, rest assured that you can create really any financial report that you can dream of in the report writer. Okay, so moving on, I'm talk about a few of different types of transactions that you might automate in the solution. One of them is inter entity transactions. So I've got a little report that I created down here just for illustration purposes. That is an inter entity reconciliation report. Lemme just pop this up full screen. So if you have a lot of due to and due from accounts between your different entities, you probably spend a lot of time trying to reconcile those every month. Intacct can help you with that. It can automate this significantly. So I've just got a little report set up that has all of my due to and due from accounts in the rows here.

There are a few different strategies we can talk with you about on how you set these accounts up, but I happen to have them just sort of as summarized due to and froms. And then across my columns I have entities again. So for example, I can see that entity 100 has this amount here due from 200. If I look at entities 200 column, I should have a due to in the same amount to 100. That's why I call it a reconciliation report because you can easily see and tie out and notice if you're missing anything on any of your reconciliations, which show you an actual transaction. But we're going to be a little short on time. So instead of what I'm going to do is actually just drill into one of these for you and show you how this gets you.

Alright, so this is actually a cash management transaction. It is a funds transfer, and what I'm looking at is that looks like entity 200, sorry entity 100 transferred money to entity 200. So I can see the two cash accounts here and one hundreds was credited and two hundreds was debited. This is an out of balance entry, right? That shouldn't happen. But in the background we've told Intacct, Hey, these two entities have a relationship with each other and they have due to and due from accounts set up. So Intacct knows that it needs to create the balancing entry so it knows for 200 I need a balancing credit in the liability account and I need a balancing debit for 100 in the receivable account. So it's going to automatically create that entry for you. You don't have to do anything extra at the end of the month. You come in and can review your reconciliation and make sure that everything still matches between your entities.

Karen Penhallegon:So there's just one quick example of automation. I've got a couple of others. Let me actually, I've got some slides that we'll get to in a second and if you download the slides we'll be able to see these, but I've got two slides, one on AP bill automation and one on cash management. I'll go back there in a moment. I'm going to show you the screens real quick first, just so we don't have to flip back and forth quite as much from an accounts payable standpoint. I always like to talk a little bit about the accounts payable workflow and Intacct. So this is a screen that some people have told me. It's kind of similar to QuickBooks. It has the prebuilt workflow in the system. You've got some options with ap, you can have approvals for vendors for bills and for payments or for none of them. You get to pick and choose which one of the approvals you'd like to turn on.

You can also, excuse me. Essentially your workflow is going to be enter a bill, pay that bill whether you're cutting a check, paying it by a CH if you paid it online and then process whether it's a paper check or you can generate an a CH file. That's the general workflow for ap. Where Intacct can come in and really provide value is it has a tool called AP bill automation. And so AP bill automation takes bills, whether you'll have a special email address that you can either have vendors email bills directly to, or you can just upload bills that have been sent to you, whether you're scanning paper or you have them in an email. When you upload these bills, intech is going to automatically read that bill and it uses an AI engine to actually fill out the draft bill for you. So it's going to create a draft bill for you automatically in the system.

There's a filter that it comes with called draft bills that you'll see all the bills that have been read into the system. It'll have a source like you see here. These were all uploads relevant emails and it might have some issues. So it's going to automatically look at it and say, oh, I couldn't find a vendor for this one for example, or there's something wrong with the allocation in this particular bill. So whatever the case may be, it may find issues and tell you about those or it may not find anything. So if you drill into a bill, then let's edit this straw waste management bill.

Karen Penhallegon:You'll see here it's in draft mode. I can actually pop this up side by side. So it's going to have the bill that I uploaded here, and I'm sorry it's a little bit small because I'm zoomed in so you can see the screen better, but I'll have side by side views of the bill. It'll automatically have pulled information in for me so it read the vendor, it read the bill date, the invoice number, all of that came in automatically. I typed none of this into the system and even we'll pull in entries for you. Now this is a place we do recommend you need to review because it's going to do its best to code the transaction for you the first time it sees it, but it uses ai. So as you continue to post to make updates, it learns how you want to have bills coded and it will get more and more accurate on coding bills.

It also learns over time where things are at on the bill. So if for some reason it doesn't read the date correctly on one of your bills, it'll learn better next time. How to do that when you make a change to it, that can save a big burden of people who are having to do a lot of typing in of bills. Instead, the system can just handle all that for you and it actually gets better and better. Their goal is 99% accuracy of a bill. Once it's seen it a few times the first time, it may be a little less accurate until it learns that bill.

Last little item I will briefly show is actually in cash management and it's all about recs. So I don't know if some of you may be using bank feeds already within QuickBooks. I really like the way that Intacct has set up their bank reconciliation bank feeds. So I like to talk about that for just a moment. So the way that this works, you'll say I already have a reconciliation that I've started. This connects out to your bank account. If the bank allows it, that's the only caveat, it will automatically download transactions for you. The standard is every four hours, but you can also download them whenever you want and it's going to create both a tab with Intacct transactions that you've created, an Intacct, and then a tab with bank transactions that have come in through the bank file.

You'll see in here I've got a few filters. I can see whether I want to look at master unmatched transactions. It defaults to unmatched whether I want to look at different types of transactions. So lots of filters for your standard bank rec, but the goal really is to have the system automatically do most of the work for you. So for example, if I look at maybe this bill right here, let's look at a BC supply company. This check, sorry, this was an auto match. So I can see that the system autom matched it. I can see the rule that it used. So you set up rules telling the system how you want it to match. It's not going to just default to guessing. You're going to tell it how you want it to match, which in this case was matching on check number and dollar amount and it's showing me the transaction and Intacct that it matched to.

Karen Penhallegon:If I need to unmatch it for some reason, I can, it's not going to force me into keeping it. Now if it was an unmatched transaction though, it's a little bit different because when I come into an unmatched transaction, of course it doesn't know what transaction that needs to be matched. So it's going to give me a list in the bottom of what I need to try to match. And you can search, you can search by amount, by check number. I could do by payee. I know there's a security supply depot and look at that. I've got a security supply depot right there when I searched for 13 300, but I can see it looks like maybe the bank misread the check number, right? No problem. I can check this off, choose to match it and I'm done. Then it's going to go ahead and match that up. Or if I have multiple transactions that made up this one transaction, it'll try to match those many to one transaction, but sometimes it can't. In that case, you can check multiple transactions to match to a single bank transaction.

Also, maybe the transaction simply just didn't exist yet and you need to actually create it in that case. You've also got this little action button here and you can create a transaction right from within the screen. So maybe I need to actually receive this payment because a customer paid me and I didn't receive it. So I can come in here, it's going to pre-fill out information for me it was $56,000 and as the bank account I received it in, I would just pick the customer that actually paid me, which I think was security something. Maybe it was reasonable security. And I can actually go right from there into the screen where I would actually accept the payment. When I come back, it's going to match it up for me. So everything can be done right from within this screen. So I've got many clients who've been able to automate so much of their process that they're doing daily bank reconciliations very quickly and staying regularly on top of their cash. Okay. Are there any other Intacct questions from the demo that I can address before we hop back into some wrap up slides on the PowerPoint?

Emily Madere:Go over here and see Karen. There is pricing questions, which we'll get to that at the end. But there is one, someone asking about QuickBooks has an integration for HR here in tax forms. What is that in Sage?

Karen Penhallegon:Okay, let go ahead and just stop sharing because it's going to take a second anyway and I'll answer that. Great question. So it depends on which tax forms you mean. So Intacct does have a partnership with a DP for payroll. And so if you are needing a payroll solution, because then you're using QuickBooks payroll, A DP is usually the first place we look. There's a prebuilt integration with a DP and they will do all of your year end w twos, et cetera, nine 40 ones, et cetera. We can integrate with a ton of other payroll solutions as well. There's a lot of them in this Saging tech marketplace. So it's another place you can go look for payroll and HR solutions. Intacct itself does not have payroll built into it, but like I said, they've got that partnership with a DP or we can work with other payroll companies that are out there from a 10 99 perspective, you can print 10 90 nines directly out of Intacct if you need to e-file, which is pretty common now since the e-file limits have dropped. Then they have an integration with a company called Tax Bandit. All you have to do is set up a tax bandit account. You click a button and it will push all your 10 99 data over to tax bandits and they can e-file for you. That's a very good question. I hope I answered that well.

Emily Madere:And I think our next step is to get to the integration question. So I know a couple of people are asking that and we'll get to that very shortly.

Karen Penhallegon:I have a couple slides in here just on the AP bill automation and bank feed so that you would have them in the slides for you to review. But I think that's it for me for a few minutes. So it looks like it might be Emily whoop, Emily's turn here.

Emily Madere:Yes. Okay. Well for the sake of time, I think we have a lot of questions, so I'll take this one pretty quickly. But we talked about a lot today. Karen showed us, I think a great visualization of what Sage Intacct might look like. I would like to preference that with saying we have a lot of folks in the chat who are nonprofit construction healthcare organizations, and Sage in Tech is going to differently and have different modules that you'll be available to. So we didn't show you everything in Intacct. If you're wanting to see how Sage Intacct can help your specific industry or your business model, I'll be in contact because I have everyone who signed up and ask questions. But as far as how Sage Intacct is helping, I hope y'all can see these clicks.

Karen Penhallegon:I don't think the animations are showing up unfortunately.

Emily Madere:That's okay. So we definitely hope with Sage Intacct, you saw how systems can be integrated, what the multiple entities might look like in Sage Intacct, how we could help accelerate your close, how we're going to bring in best practices into your business with the structure of Sage Intacct. I don't know if those clicks work, so I do apologize if you weren't able to see those clicks. Okay. Now where a lot of our other questions are coming from is actually this section. So we're going to cover and the time we have left as much as we can. So a little bit about EisnerAmper. I'm pretty sure everyone who signed up for this webinar knows a little bit about EisnerAmper, but let's talk about EisnerAmper and R Sage and tech team specifically. So EisnerAmper is a value added reseller bar of Sage Intacct. And all that means is that we are licensed to sell, implement, and provide ongoing support for Sage Intacct for our clients.

Emily Madere:So if you're joining this webinar, you're thinking, hey, within the next six months I think I need to change accounting systems. Then you can work directly with EisnerAmper. For Sage Intacct services, we have been doing Sage Intacct and Sage and other accounting softwares for over 20 years. We have a dedicated team of certified Sage Intacct specialists who have an accounting background to help implement SAGE for you. Like I said, during the beginning of the webinar, we have worked with over 20 unique industries and we have experience there. The bottom part of the slide is just what you can expect working with our Sage INTA team, we act with integrity of all times and provide quality service along with these other three buckets. So we had some folks asking about implementation. So I'll let Karen high level explain that. And Karen, I think one of the questions was how long can someone expect an implementation to take?

Karen Penhallegon:Great question. Alright, so we do have an implementation methodology that we use for all of our implementations. You see it here. This is a very summarized view. We have a much more detailed one when we talk with you individually and it's tailored to your organization. But overall, the major categories, we have a defined phase that we're really understanding in great depth how your business works, how you operate, and how you want the system to work for you. So we can configure the system appropriately. We have a build phase that includes setting up US inta, configuring everything and getting data converted over into IT model phase, which is training and testing. So we kind of use a methodology of training where it's both online training as an introduction and then one-on-one testing and support sessions. And then we don't abandon you after GoLive, your same implementation team will stick with you after GoLive.

We usually do about six weeks for most of our clients to get you through a month end. And then we will transition to the Eisner Amper client success team. So you never leave our team. We're actually all one big Sage Intacct team. Your implementation folks can still come back and help you out on support issues or new projects you might have into the future. But you're always going to work with Eisner Amper. You don't have to call Sage, call one 800 number talk with someone that maybe you doesn't know you business. You're going to have someone who knows you at all times. So generally when I tell people from sort of kicking off the project, the plan phase through go live, which is five, that's three to four months depending on the complexity of your business and how long you want to spend in testing and training more complex businesses. Sometimes we stretch it out a little bit to six months if you want a little bit more time to feel comfortable in the system. But I would say our average is probably around the four month mark for most of our clients. I hope that answered that question well.

Emily Madere:And one of the questions, is it online support or is it live support?

Karen Penhallegon:So we have a ticketing system that we ask you to send an email into our support. We do have live people, so if you need someone you can call. But the reason we ask you to go through the email is it goes to everybody on the team, including me and anyone else on the entire team. So it's the fastest way to get somebody live, but it is a real person that a couple, actually, it's quite a few people that live here and will actually be responding to you and setting up calls. So it can absolutely be a person that actually calls you or you can actually call them. We want to get you as fast as possible though, and that's why if the person you normally talk to is maybe out sick one day, that's why we recommend using our standard email address because it goes to everyone else as well. So we can always get to help you.

Emily Madere:We won't spend too much time talking about this, but what we're assuming is that you're on this webinar, you're going to be evaluating accounting software. We just want to stick this in here. I think it's an excellent piece of questions that you can take with you when you're evaluating different solutions. We hope if you're evaluating, wanting to evaluate Intacct, you, you've worked with Eisner Amper, but if you need to evaluate other ones, definitely take this PowerPoint, take a look at the side and just educate yourself on what questions we recommend asking us or asking different, okay, so some questions. One question I got was around pricing and I can talk about that. So Sage Intacct is priced on the types of users that you have in the systems and the type of modules that you need. One question was, is inventory considered a different module?

And that answer is yes. It's, and I hate to say this, it really just depends on what your environment and what your needs are. But like I said during the beginning of this webinar, Karen and I do believe in full transparency and we're going to bring that through the sales process as well as implementation and customer success. So we're always going to be honest with you if we think the system is going to be a fit and be competitive when it comes to pricing for implementation and services. And we had a question around implementation pricing. It's normally one to one to one and a half of the software. So I hope that answered everyone's questions. I do have everyone who signed up. I have everyone's contact information, so I will be following up after this webinar. I know we missed some questions for running on two minutes, so I'll make sure to answer those questions and get back to you, but also a couple of y'all self-selected as wanting to evaluate accounting software within the next six months. So I will be reaching out to you and seeing if you'd like to take a look at Sage Intacct.

Sage Intacct is priced annual annually, but we do split out our implementation over five months.

Karen Penhallegon:Yeah, I see. One more question I can answer quickly, a couple of questions on the A DP integration. It's an integration with a DP workforce now, which is the platform they're trying to get everybody I believe onto, it's kind of the mid-market platform. So that's where the prebuilt integration is. There's other integrations available as well, and I say does it post the tax impound part of the dermal entry? I'm not sure what you're referring to, but I have a contact at a DP. So if you're interested, we can reach out to a DP and get you a for sure answer. My understanding is yes, I know it does post the taxes for sure, as well as any garnishments et cetera that are part of your payroll. All of that comes through your journal entry. Only one more I see, I know we're right at time here, but Alexis, I know you had some questions around the way the user interface looks. I'd love to chat more with you about that. They actually have made major updates to the interface, so maybe we can catch up after this. We can reach out and see if we can show you a little bit more. Oh and real quick, Tammy, yes, there are prebuilt integrations with both Procore and Paychex. I know for sure both of those have integrations.

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