August 9, 2018
Top 10 Highlights: NetSuite 2018.2 Release
Have you noticed the leaves starting to turn color? Have you noticed the New Release Portlet displayed on your home dashboard? That means it’s time to start thinking about NetSuite’s next big release, 2018.2 of its product family, which includes NetSuite, NetSuite OneWorld, NetSuite Financials, NetSuite CRM+ and NetSuite Ecommerce.
The semi-annual releases provide new functionality to help NetSuite customers get past some of their existing roadblocks and provide new features to keep helping businesses provide the best possible service to their customers.
Here is our rundown of the top 10 of the most significant features and enhancements available in the new version of NetSuite:
- SuiteAnalytics Workbook Beta Feature – Its finally happening! NetSuite is releasing a beta version of the new SuiteAnalytics. Think of it has a hybrid of saved searches and reports, which allows users to create highly customizable workbooks that combine queries, pivot tables and charts – with a single tool. It also provides a new way to derive insights from your live data.
- Administrators are No Longer Required to Provide Initial Passwords for New Users – NetSuite Admins rejoice! With this change, Administrators no longer have to provide an initial password to new users. NetSuite will generate a temporary URL with a verification code that will allow users to create their own NetSuite passwords.
- Two-Factor Authentication (2FA) Required for Administrator and Other Highly Privileged Roles – Integrations beware! With this new change, all users (including integrations using Admin role to log in) will be required to use 2FA. If you have an integration, make sure to switch over to token-based authentication to avoid any trouble.
- Period-end Journal Entries (JE) Feature – This is a process where NetSuite will automatically generate and Post JE’s at the end of the year. This is primarily used for closing out the profit and loss statement (P/L) to retained earnings at the end of the year. Previously, NetSuite did close out the P/L, but it was only a “ghost” close, and nothing was actually posted to the GL. Instead it was displayed dynamically on year-over-year balance sheets.
- CSV Import for Multi-Subsidiary Entities – In NetSuite release 2018.1 and prior, you could not set multiple subsidiaries via CSV for customers or vendors. To do this in bulk, you had to write a script, or even worse, do it manually in the UI. With this new enhancement, you will now be able to CSV Import multiple subsidiaries to both customers and vendors.
- Intercompany Time & Expense Feature Now Compatible with Multi-Subsidiary Customer – With the Multi-Subsidiary customer rollout in NetSuite release 2018.1, one of the first things users noticed was that this new feature wasn’t compatible with the Intercompany Time and Expense, it was one or the other. A quick and much needed fix by NetSuite!
- Time Off and Paid Time Off (PTO) Management – A nice new feature for those customers who use NetSuite SRP or SuitePeople. With this feature, you can submit PTO Requests, route them for approval and have them automatically integrated to your timesheets.
- Inventory Management SuiteApps: NetSuite WMS and Quality Management – With NetSuite’s WMS SuiteApp, users can manage warehouse inventory, pick-pack-ship, and put away inventory – all within a handheld mobile device. The new Composite Bar Codes and Inventory status additions to the WMS module are sure to make warehouse workers’ lives a little bit easier.
- Ability to Customize Standard Field-Level Help – Not a groundbreaking change, but a small victory nonetheless! You can now edit and add your own help instructions for native NetSuite fields
- New Workflow Actions Added to Item Sublist Workflows – In NetSuite release 2018.1, NetSuite rolled out line-level workflows with a few limited actions such as “Set Field Value” and “Create Record.” In the 2018.2 release, users will now be able to use “Return User Error” and “Send Email” actions on sublist workflows.
So gear up everyone, it’s coming up fast. Release preview environments are available in just a few weeks, with releases starting as early as September 14, 2018. If you need more information or guidance to get ready for the new release, check out these helpful articles and resources:
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