Sage Intacct is a 100% cloud-based system. Its financial reporting offers a wide variety of use cases for organizations looking for real-time, actionable insights. At its core, Sage Intacct can address key metrics, statements, cash orders, purchasing processes, and more. Sage Intacct Dimension World also can help segment financial reporting to improve efficiency and accuracy across the chart of accounts.
Traditional Chart of Accounts Management
Typically, the chart of accounts is reported by segments, such as the department, location, service line, project, funds, etc., of an account. This categorization is specific to an organization’s goals and needs for the financial report. However, in doing so, organizations risk bloating and enlarging the number of accounts necessary to manage the business.
Sage Intacct Dimensional World
The overinflating of accounts caused by a report’s segmentation is a universal challenge. Sage Intacct combats this issue out of the box with its seven predefined dimensions. These standard segments provided by Sage Intacct can be customized based on business needs.
As an organization grows, it can continue to customize its Sage Intacct Dimensions at any time. Sage Intacct allows users to change the dimension name, add other dimensions, create relationships across dimensions, extend dimensions for the future, and more. Users input the dimensions that belong to the specific account. Then, as any transactions, purchase requisitions, or accounts receivable invoices are entered, the applicable segments are applied to help provide proper reporting. Sage Intacct Dimensions are designed to help keep your chart of accounts management flexible and evolving with your business.
Dimensional Reporting
At the back end of Sage Intacct’s financial reporting, accounts and transactions are monitored for dimension tracking. When these dimensions are used, Sage Intacct simplifies segment tracking to easily output business insights for its users. Users can drill down deeper into data and reports on demand, with proper permissions, to analyze segment trends. Sage Intacct Dimensions financial reports can be filtered by dimension to produce real-time reports for stakeholders. This multidimensional approach by Sage Intacct not only helps manage users’ chart of accounts, but also manages their entire general ledger for seamless integration.
How Forvis Mazars Can Help
Sage Intacct Dimensions have reimagined the chart of accounts for financial reporting. By enabling accounts with multiple segments to be tracked and reported upon as dimensions, Sage Intacct has made account management easier. Contact Business Technology Services at Forvis Mazars to further discuss how Sage Intacct dimensional world could benefit your organization.