August 13, 2002 (Los Gatos, Calif.)— Intacct Corporation, the leading provider of online professional accounting solutions, today announced the release of Intacct XML2, giving Intacct application and solution provider partners significantly enhanced power and flexibility for integrating custom and third-party applications with Intacct's online accounting solution.

Specifically, Intacct XML2 adds new application programming interfaces (APIs) for the Intacct Purchase Order, Order Entry, Inventory Control, and Cash Management applications, as well as additions to the existing API set for the General Ledger, Accounts Payable, and Accounts Receivable applications. This new release also gives more flexibility to developers with support for real-time versus offline processing, enhanced transaction management, and configurable communication policies. With Intacct XML2 developers can now more efficiently integrate and automate business processes and synchronize related data between the Intacct online accounting system and third-party applications and legacy systems.

"Early on, Intacct recognized that application integration would be key to its success," explained Aaron Harris, director of Integration Engineering for Intacct. "We architected our application from the ground up to support XML integration. In fact, two years ago, when most companies were just beginning to research Web Services, Intacct had already posted its first XML transactions with a business partner."

With the enhancements of Intacct XML2, more than 50 Intacct application partners are integrating Intacct's industry-leading online professional accounting system with a wide range of vertical business applications including hospitality, property management, non-profit, e-marketplaces, managed healthcare, and insurance. Intacct clients are also integrating the Intacct system with their own custom applications. These companies are using the integrated solutions for, among other things, streamlining business processes, eliminating operational redundancies, and decreasing the possibility of error by doing away with the need to re-enter the same data to and from historically unconnected systems.

Greensboro-based Clarity, a leading web-based retail point-of-sale (POS) solution provider, is using Intacct XML to integrate its POS tool WebDSR with the Intacct accounting system to provide its hospitality and retail clients with a solution that normalizes POS data for enterprise viewing while populating the data right into the Intacct accounting system. With this integration Clarity is helping its customers eliminate inefficient and costly redundant data entry while providing real-time data that is authenticated, accountable, verifiable, and auditable.

"Intacct XML2 is making it possible for Clarity to make critical business information even more powerful and useful for our customers while saving them money and valuable hours that can be better spent serving their customers," said Pete Mendenhall, founder of Clarity. "There is a great deal of talk about XML and its potential, and Clarity and Intacct have moved beyond talking to now using this technology to create innovative, money- and time-saving business solutions."

Technology consulting firm BusinessNet is using Intacct XML2 to centralize the accounts payable and accounts receivable functions for a large shipping business client with eight locations that are separate profit centers, but which use the same vendors and customers. By establishing the centralized accounts payable and receivable system, BusinessNet is making it possible for its client to save time and take advantage of Intacct's web-based architecture to manage the geographically dispersed business units and in real time exchange financial data securely over the Internet. The customer and vendor maintenance function is now centralized, which means that duplications are avoided and application security can be centrally controlled. BusinessNet is also interfacing its web-enabled Construction Management package with the Intacct online accounting system via XML2.

"We were pleased with the Intacct XML team's responsiveness in helping us develop our applications," said Nadeem Chagtai, president of BusinessNet. "Many of the transaction APIs we needed to create superior solutions for our clients are now available in the new release of Intacct XML."

About Intacct XML
XML, or eXtensible Markup Language, is an enhancement to the Web's ubiquitous HTML coding that enables web-based applications to automatically exchange and make sense of specially tagged data without requiring customized data integration. Intacct was the first company to use XML to fully integrate an auditing module (co-developed with Big Four accounting firm, Deloitte & Touche) and a payroll application (CBS Payroll, an Intuit Company) with an online professional accounting system.

To accelerate the application integration process, Intacct provides a XML Developer Kit (XDK) that includes system documentation, as well as consulting time with Intacct's XML development team, which systematically evaluates partners' integration needs and then advises them on the best course of action. Intacct integration partners are also provided with a XML Gateway account on Intacct servers, code samples and a unique, dedicated development environment with real-time viewing and auditing of XML transactions.

About Intacct Corporation www.intacct.com
Intacct Corporation is the leading provider of online professional accounting solutions. The Intacct accounting system is designed for companies that need more than an entry-level PC-based accounting package but want an alternative to complex, IT-intensive client/server solutions. In addition to its core accounting functionality, the Intacct accounting system also includes Intacct Audit, co-developed with Deloitte & Touche. Offered on a monthly subscription basis, the Intacct accounting system can be accessed via any current web browser and is both PC and Mac compatible.