Intacct Corporation — Intacct Financial Management
From the June 2010 Review of Web-Based (SaaS)_Small Business Accounting Systems.
Intacct offers a comprehensive web-based accounting and business management suite that is available in several industry versions, including one specifically designed for professional accountants. The technology company has also been designated the preferred provider of financial applications by the AICPA. This review focuses on the complete integrated suite available from Intacct.
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 under-stand and use, with numerous short- cuts 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 pro-vides 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.
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.