Revolutionize Accounting With Sage Intacct Dimensions
Our series focused on the key features in Sage Intacct would not be complete without discussing Dimensions. They offer a whole new approach to the chart of accounts that updates accounting for a new era. More than just a feature, Dimensions take financial management to the next level and transforms how companies think about finance. They’re a game changer. This blog explains why:
What are Dimensions?
We already have the ability to slice, dice, organize, and analyze information in most aspects of our personal and professional life. But not in accounting.
The traditional chart of accountants has a rigid, hard-coded structure that makes it difficult to utilize the information within. Companies have a detailed record of every cent, but they don’t have a good way to explore that information or make sense of their financial performance – not without hours of detailed data-entry, at least. Everything from financial analysis to funding allocations takes longer and involves more errors because each aspect of the business requires a separate account record.
Dimensions take a radically different approach. Accountants can easily “tag” transactions with identifying details like:
- Product Line
There’s also the option to create custom dimensions – eg. a non-profit could create a “fund” Dimension to link revenues/expenditures to a specific funding source.
Once transactions are tagged with Dimensions, it unlocks an endless supply of financial insights. Accountants can search, reference, and report on any aspect of financial performance in seconds, gaining unprecedented levels of visibility and control in the process. Simple in execution, dimensions are transformative in practice because they make financial data an asset to leverage rather than an obligation to manage.
Why Dimensions Change Everything
Having a dimensional chart of accounts – combined with other Sage Intacct features like dashboards and KPIs – comes with huge advantages for both the accounting department and the whole company:
- Save Time – From closing the book to conducting in-depth reporting, crucial accounting responsibilities take significantly less time when each transaction has been clearly defined by Dimensions.
- See More – Understanding how every cent flows through an organization becomes both easier – and the insights more valuable – thanks to the simple ability of Dimensions to link transactions to key business units (departments, item, location etc).
- Manage Smarter – Dimensions give decision-makers a broad and deep understanding of financial performance, plus the ability to explore any financial inquiry that arises, so they can make smarter choices day in and day out.
- Plan Better – With the benefit of more time, better insights, and stronger accounting controls, companies using a dimensional chart of accounts can take charge of their financial future by developing ambitious (yet informed) long-term plans with high likelihood of success.
The best way to appreciate what Dimensions can do is to see it for yourself! Join us on Wednesday January 26th at 2pm EST as we explore how Sage Intacct’s cloud financial management has helped thousands of companies like yours achieve some impressive results! Register NOW!