Intacct launches Cash Management Application

Intacct, a provider of online professional accounting solutions, will launch a new Cash Management Application today.

The Mac compatible Intacct system is an enterprise system made on the Internet for small to medium sized businesses. Though all Intacct software is located on servers, not desktops, the company decided early on to support the Mac, Intacct CEO David Thomas told MacCentral.

“We’re excited about it because it is a free companion application to Intacct’s General Ledger and will allow Intacct users to manage their cash positions online, while data is automatically propagated to Intacct’s core applications, including accounts payable and accounts receivable,” company spokesperson Wendy Bednarz told MacCentral. “This is also a precursor to a future Intacct application with interactive capabilities to online banking resources.

The Web based software runs on Internet Explorer and Netscape browsers on the traditional Mac operating system and Carbonized versions of the browsers for Mac OS X, Thomas said. Intacct does in-house testing to ensure “100 percent Mac compatibility,” he explained.

Intacct’s application allows both accountants and business managers to administer and map subsidiary companies to parent companies, to correlate subsidiary companies financial data with that of parent companies, to automatically execute the actual consolidation, and to derive the consolidated financials “all securely and in real-time over the Internet,” according to Thomas.

The Cash Management application is designed to enable small and midsize enterprises to conveniently manage their cash position online and more effectively free up cash resources for activities that will help their business grow, Thomas said. It lets Intacct accounting users create customized internal controls for payment approvals, to automate the approval and routing process for payments, to schedule payments to be made at a future date, and to record, pay, and reconcile credit card transactions.

In addition, since it’s fully Internet-based, the Cash Management application allows accounting outsourcers and financial staff of multi-location enterprises to remotely manage corporate cash accounts, including checking, savings and charge accounts. The Intacct Cash Management application is available immediately to users of the Intacct system, and is included with the Intacct General Ledger application at no additional cost.