6 Sage Intacct Best Practices for the Year-Close

Dec 22, 2023 by Zazil Martinez

Prepare for financial success as the year ends with 6 Sage Intacct Best Practices. Precision is crucial in accounts receivable, and these practices will help you work more efficiently.

As we approach the year's end, the accounts receivable professionals' role is vital. They shape an organization's financial picture by efficiently managing accounts receivable processes. Defining them is a game changer in a world where accuracy, efficiency, and strategic forecasting are essential.

Best practice implementation is one of the best ways to help all AR professionals at any level. These are crucial for business efficiency. They serve as a framework to optimize processes, mitigate risks, and enable assertive financial management.

Professionals using Sage Intacct should adopt best practices. This is especially important because of its robust management features and comprehensive tools and capabilities. When used effectively, they can significantly enhance the AR process.

This blog post delves into the significance of embracing Sage Intacct's best practices, offering a strategic guide to navigate year-end challenges and drive success.


1. Utilize Automation for Invoice Processing

AR professionals using Sage Intacct need to automate invoice processing. They can improve their invoicing workflow efficiency by using its powerful automation features. This makes invoice generation faster. It also ensures error-free approval routing and email distribution. This saves time and reduces mistakes, making the cash cycle smoother.

Sage Intacct automates workflows to fit an organization's needs. Businesses can customize processes to match their invoicing requirements. For instance, the system can automatically escalate approvals for high-value invoices. It can also trigger follow-up actions for overdue payments. This adaptability ensures that the invoicing process is automated and follows internal policies and procedures.

Automation makes routine tasks more accessible for the AR team. Automated workflows allow team members to see invoice status and find and fix problems efficiently. This improves communication and helps the team work more efficiently.


2. Implement Real-Time Reporting and Dashboards

Real-time reporting shows essential metrics for the organization's AR performance. It allows AR professionals to quickly monitor, analyze, and respond to changes. This helps optimize strategies for better receivables management.

Sage Intacct's reporting capabilities help AR professionals make custom dashboards. These dashboards show aging reports, collection efficiency metrics, and cash flow forecasts. They simplify complex financial data and let you identify trends, outliers, and areas needing attention.

AR professionals can quickly track customer payment behavior in real-time reports. This helps them find patterns and adjust collection strategies. Real-time reports make it easy to address payment delays and optimize credit terms. They provide the information needed to make informed decisions that improve cash flow.


3. Establish Clear Credit and Collection Policies

Creating clear credit and collection policies is essential for managing receivables effectively. These policies help decision-making, ensuring a consistent approach to credit extensions and payment collection.

Easy-to-understand credit policies are essential for managing credit. Organizations can reduce late payments by creating clear policies in Sage Intacct. It lets businesses set credit limits based on customer payment history, financial stability, and creditworthiness. This helps ensure that credit is given carefully, aligning with the organization's risk tolerance and financial goals. Sage Intacct's customizable features allow organizations to adjust credit policies. They can tailor them to fit their industry, market conditions, and internal risk management strategies.


4. Regularly Reconcile and Audit Accounts Receivable

Regularly reconciling and auditing accounts receivable is critical. It maintains the accuracy and integrity of financial records. It involves comparing and matching financial transactions. This ensures that the recorded data aligns with the actual financial activity. Businesses can use Sage Intacct's reconciliation features to identify discrepancies, errors, or inconsistencies. This helps them resolve issues and ensure financial reporting reliability.

The reconciliation process involves comparing bank statements, customer payments, and invoices. AR professionals can confirm that transactions accurately reflect the organization's financial position by systematically matching them. This review helps prevent inaccuracies from data entry errors and system glitches. It also helps prevent them from other unexpected issues.

Automated reconciliation allows efficient transaction matching, reducing the required manual effort. Automating recurring steps can save organizations time and minimize human errors. This contributes to a more accurate and reliable accounts receivable ledger.


5. Provide Training for Accounts Receivable Teams

Providing comprehensive Sage Intacct training is an investment. It optimizes the platform's features and capabilities. Ensuring the necessary skills and knowledge to navigate the platform effectively is essential. This fosters increased efficiency and proficiency in accounts receivable management.

Effective Sage Intacct training for AR teams should cover system navigation, data entry procedures, and automation features. This knowledge provides the skills to carry out routine tasks. It reduces errors and ensures standardized processes.

Continuous learning is essential in finance. Regular updates on system enhancements, new features, and best practices keep teams updated on the latest developments. They ensure the platform reaches its potential. This helps organizations adapt to industry changes and optimize their AR processes.


6. Integrate Paystand for Seamless Payment Processing

Integrating Paystand with Sage Intacct is essential. It ensures seamless payment processing and improves financial efficiency. Paystand's integration with Sage Intacct offers a comprehensive solution for automating and optimizing the collection process.

Businesses can cater to customer preferences by offering various payment methods like credit cards, ACH transfers, and e-checks. This speeds up the payment cycle and enables automatic reconciliation. It eliminates the need for manual data entry and reconciliation tasks, reducing the risk of errors and saving valuable time for the AR team. This ensures accurate financial records and enhances the reliability of financial reporting.

Another advantage is its enhanced security. Paystand employs robust security measures, including Funds-on-File and tokenization, to protect sensitive data. This builds customer trust and minimizes the risk of fraud or data breaches. It safeguards the organization's financial integrity.

With payment data seamlessly flowing, teams can automate payment applications to corresponding invoices. This reduces manual effort and improves accuracy. Automation enables AR professionals to focus on strategic activities. For example, they can work on customer relationships and overall optimization.



Sage Intacct's AR management best practices benefit a business's financial health. Paystand's integration enhances these benefits, providing a secure payment processing solution. It offers an efficient and user-friendly experience for finance teams and customers. This improves cash flow and customer satisfaction.

Download our eBook to learn more about the integration of Sage Intacct and Paystand. It will show you how to improve your AR processes and provide a more efficient solution for your financial management needs. You can also book a demo with one of our experts to experience Paystand and Sage Intacct's integration firsthand.