NetSuite Release 2022.1

Introduction

2022 is here and it seems it barely started when NetSuite reminds us all of the relentless progress of software development with its 2022.1 Release appearing on the horizon like a sailing ship of yesteryear.

The release notes are, as expected substantial, and frequently contain links to informative and instructional videos.

The team at AVT has cast their collective, and experienced, eyes across the new offerings and chosen a few that they consider to be real nuggets for their clients and the following paragraphs detail AVT’s thoughts on these and their implications with regard to level of improvement and the implementation thereof.

Please note that all new features are not available until your account is upgraded to 2022.1 release.

Summary

There are 35 pages in the Release Notes PDF and lots of videos available via SuiteAnswers.
Please browse and if there is something you would like AVT to delve more deeply into then please drop us a line.

Accounting

• SuiteApprovals: Free SuiteApp and customisation to manage approvals.
  • Ideal for companies looking to implement Role based approval processes on Purchase Orders, Expenses and Vendor Bills.

• Advanced Localisation Features: These are new features introduced in the ERP for managing forms output and validations.
  • Accessible to all customers we recommend you review these features to see what you can apply. There are new features introduced for ANZ client for ABN verification.

• Contra Account Sheet SuiteApp: SuiteApp to generate contra reports from transactions.
  • Enables companies to generate comprehensive transaction reports containing contra account information. These records can be used by accountants, finance managers, or auditors for viewing the account balance or transactions and verify their accuracy and completeness. These reports can then be exported in PDF or CSV formats. This account practice, also known as Kontenblatt, is commonly used in Germany.

• Custom Segments Update in Labor Expense Allocation: Custom Segments Update in Labor Expense Allocation: Labor Expense Allocation SuiteApp version 1.00.3, custom segments checkboxes are replaced with a multi-select field labeled as Custom Segments on the Labor Expense Allocation Preferences page. New custom segments columns are automatically shown on the NFP Employee Timesheet and Pay Type Allocation records based on your custom segment record preference.
  • Ideal for customers using Custom segments and planning to use Labor Expense allocation with Custom Segments.

• NetSuite FAM Improvements: The FAM Diagnostics portlet on the Home dashboard enables you to check the health of the Fixed Assets Management SuiteApp. New features are available in the enhanced FAM Diagnostics portlet for exception reports.
  • Ideal for users that are using NetSuite FAM and evaluating FAM reporting.

Account Maintenance

• Customer-Scheduled Maintenance feature: Allows users to opt in to a upgrade schedule.
• Authentication: HMAC-SHA1 Signature Method for TBA Postponed.

CSV Imports

• Importing Expense Report is now accessible via CSV Imports.

Master Record Enhancements

• Employee Management
  • Performance Management Enhancements
    • Performance Review Scheduler Enhancements: The performance review scheduler introduces the Basic performance review schedule and the Advanced performance review schedule. The following enhancements are now included in the performance review scheduler:
    • New Manager Digest: The Manager Digest is a monthly email sent to managers to update them on their team’s achievements, goal progress, Areas of Focus, and performance reviews. The Manager Digest is sent on the first Monday of every month. The Manager Digest period starts on the day the last Manager Digest was sent and ends on the day before the current Manager Digest is sent. For example, if the Manager Digest has a period from November 1 to November 30, the Manager Digest will be sent out on December 1.
    • New Dataset Templates: The Advanced performance review scheduler utilizes SuiteAnalytics datasets to define the recipient lists for your performance reviews. The following dataset templates are now included.
    • Goals Enhancements: The Goals feature now includes additional information to provide employees and managers more flexibility and visibility when interacting with goals.
    • Kudos Enhancement.
  • REST API for Time Bill.

Globalisation

• Paired Intercompany Transactions Enhancement: NetSuite 2022.1 lets you pair stand-alone intercompany credit memos and vendor credits. You create a link between the two documents through the Paired Intercompany Transaction field on the two records. NetSuite filters the relevant documents based on the subsidiary, entity, and currency.

Inventory Management

• New Supply Allocation Pop-up Window: The Allocated Demand and Allocated Supply pop-up windows are now available on the Supply Chain Snapshot.
• Supply Chain Control Tower Enhancements: New enhancements to Vendor Performance History, Saved Search Enhancements, Vendor Delivery Performance Scores.
• Supply Planning Enhancements: New enhancements to view include adding item description to Workbench Panels and new Safety Stock line added date based grid view.

Warehouse Management Enhancements

• Scheduled Release of Multiple Waves: Ability to Generate multiple Waves up to 500 waves for each release using a Wave Release Limit.
• Zone Picking for Single and Multiple Orders: select one or more zones from which you want to pick items.
• Pick Carton Reuse: If you activate a Use cartons rule, you can use and reuse pick cartons for orders that you process on a mobile device. To reuse, you must pack all the items in the pick carton. The fulfillment records associated with these items must be in Packed status.
• Load All Option to Transfer Staged Items into Carts: Enable bulk loading into staging carts system rule to transfer multiple items for putaway into a cart. On your mobile device, you can select and process up to 10 items at a time.
• Item Label Printing on Search Inventory: On your mobile device, you can search for items and print item labels. For numbered items, you can print labels with lot or serial numbers. For more information, see the help topic Label Printing and Reprinting.
• Tally Scanning Support for Additional Mobile Processes: New Supported records are Bin Putaway, Bin Transfer, Inventory Transfer, Cycle count and Returns.
• Support for Centralized Purchasing: Centralized Purchasing and Billing Feature, you can receive purchase orders across multiple subsidiaries and locations. On your mobile device, you can select the target location of the purchase order line.

Projects

• Advanced Project Budgets Enhancements: Flexibility for the Project Budget record, Update of the current Budget vs. Actual reports, New subtabs on the Budget tab of the Project form.
• Support for Project Intercompany Cross Charge Request Now Available: In this release, the Project Intercompany Cross Charge Request feature provides the ability to cross charge amounts between subsidiaries with the integration period-end process. It enables you to set amounts in a currency that you can use for intercompany cross-charges reflected in the Intercompany Cross Charges list.

Bundle Enhancements

• NetSuite 2022.1 includes the following enhancements to SuiteApps released by NetSuite:
  • Accounting SuiteApps
  • Administration SuiteApps
  • Inventory Management SuiteApps
  • Localization SuiteApps
  • Manufacturing SuiteApps
  • Non-Profit SuiteApps
  • Order Management SuiteApps
  • Taxation SuiteApps

Need more info?

You can find complete NetSuite 2022.1 Release Notes at the link: NetSuite 2022.1 Release Notes

If you have any further questions about the upcoming New Release or would like help preparing your organisation for the transition, please contact us at support@abvt.com.au.