In this Contracting Onboarding with Sage Intacct Datasheet, you will learn that automating ASC 606 or IFRS-15 compliance is a complex process. Rebuilding contract activity under the new rules to satisfy retrospective reporting requirements is often the most time consuming part of the implementation. Unlike other solutions, Sage Intacct offers a contract onboarding utility that automatically builds your accounting baseline for historical and in-flight contracts, providing retrospective reporting at go-live in roughly half the time of a manual implementation. Innovation like this helps us maintain our #1 in Subscription Revenue Management and Subscription Billing placement on G2.

With automated contract onboarding built and tested by Sage Intacct, you reduce errors and implementation risk. Clients can preview and reconcile the subledger to ensure accuracy. If a mistake is found, it’s easy to undo processed activity, fix the mistake, and automatically reprocess the data. Once you’ve processed, validated, and signed off on your contract balances, you can lock down your work to finalize all ASC 606 accounts and balances.

The contract onboarding utility can be used to process contracts for acquired companies as well, saving weeks in the integration process for each acquisition. With access to user training on the utility, there’s no need for you to reach back out to an implementation partner to onboard newly acquired companies as
you grow and expand.