NetSuite has released the first (v1) preview draft of the NetSuite 2022.2 Release Notes. Note that this is a very early version and per NetSuite, these are subject to change every week. Be sure to check back here regularly for the newest version.
Here are some items we think are looking valuable in the NetSuite 2022.2 Release.
The Advanced Revenue Management feature is now split into the following features:
This update does not affect functionality for existing NetSuite accounts that have the Advanced Revenue Management feature enabled. The Advanced Revenue Management (Essentials) and Advanced Revenue Management (Revenue Allocation) features will be enabled automatically in these accounts.
At long last NetSuite 2022.2 provides compatibility between the Multi Subsidiary Customer and Consolidated Payments features! To use these features together, a new restriction applies to customer hierarchies. That restriction is that all parent customers must have all subsidiaries of their sub-customers. For information about Consolidated Payments, see the help topic Consolidated Payments.
Cash 360 SuiteApp version 1.00.0 is now available for installation from the SuiteApp Marketplace as a public and managed SuiteApp.
Cash 360 lets you effectively manage cash flow. It provides a real-time view of your company’s cash position and the ability to generate fast and accurate near-term forecasts.
The SuiteApp has a cash management dashboard where you can do the following:
Cash 360 also has the following cash forecasting features:
Cash forecasts are derived from NetSuite data. You do not need to set up or import data from other sources.
You can also add ad hoc cash inflow and outflow lines, such as finance inflow or capital investments, into the cash forecast. This enables you to better predict your company’s cash requirements and analyze your company’s liquidity status.
You can now connect to a U.S. or Canada financial institution through a modern configuration popup window with updated labels.
Previously, the configuration window consisted of a three-phased setup to connect your financial institution to NetSuite.
To ensure optimized account linking and verification, the configuration popup window has been upgraded with the following:
The system automatically redirects you to the financial institution’s website to authenticate your credentials and authorize NetSuite to retrieve your bank data for import
Project 360 Dashboard version 1.00.0 is now available for installation from the SuiteApp Marketplace as a public and managed SuiteApp. The SuiteApp provides a project dashboard with a centralized view of key metrics and data points to manage projects efficiently.
Project managers can access the Project Portfolio page to view all the projects assigned to them. They can also drill down to detailed project insights from the following focus pages:
Project managers can use this SuiteApp to:
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NetSuite Global Search results now include all hierarchy levels within the Navigation Menu. For more information, see the help topic Navigation Menu. When you enter keywords in the Global Search, the enhanced results appear under a Menu Results heading. The Menu Search feature is enabled by default. To disable the menu search, go to Home > Set Preferences. On the Analytics subtab, clear the Page Search box.
In 2022.2, you can upload scanned vendor bill files into the File Cabinet, and then create NetSuite vender bills from the uploaded files. This process supports both items and expenses. Uploading vendor bills eliminates the vendor bill data entry process, and reduces manual errors and inconsistencies that occur
when entering vendor bills.
Uploaded files appear on the Scanned Vendor Bills page after you refresh the page.
When you click a Review Bill link, an optical character recognition (OCR) program reads the data on the scanned bill. The Review Scanned Bill page opens. This page presents the scanned file on the left side, and the vendor bill on the right side. Complete the fields, as required. When you are satisfied with the information, click Create Bill. When the bill is created, NetSuite redirects you to the bill, where you can process this bill as you would any NetSuite bill.
Using this method for creating vendor bills dramatically increases efficiency. In addition, NetSuite remembers what suggestions were correct or incorrect, and implements those suggestions the next time a bill is created for that vendor.
If you are tasked with processing scanned vendor bills, your Reminders portlet on the Home page provides a link to the bills that require processing. You can also go to the Scanned Vendor Bills page. Go to Transactions > Payables > Upload Vendor Bill. For more information, see the help topic Uploading Vendor Bill Files Into NetSuite.
As always, please contact [email protected] if you have any questions or need assistance with any of the items listed – we’re here to help!
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