What are the Top New Features of NetSuite 2022.1 release? Good question. Every year NetSuite has two major releases that bring something new to the system and enhances its existing features. These releases always come with a huge amount of information and it's a real pickle to try to swim through the info load while trying to find the information that is valuable for your company.
During every release, we at Staria try to find the updates and enhancements that we think are the most interesting for our customers (and perhaps other users as well). Here's our take on the NetSuite 2022.1 release, below we have summarized the highlights of it. At the end you'll also find a video of demonstrating one new enhancement of NetSuite 2022.1.
Globalization: Paired Intercompany Transactions Enhancement
Pairing stand-alone intercompany transactions has never been easier. This enhancement allows NetSuite users to 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.
Supply Allocation Pop-up window
The Allocated Demand and Allocated Supply pop-up windows are now available on the Supply Chain Snapshot. On supply order lines, such as purchase orders, transfer orders, or work orders, the allocated demand figure links to a pop-up window. The allocated demand pop-up window displays where supply order or inventory is allocated, and which demand orders are affected.
On demand order lines, such as sales orders, transfer orders, or work orders (component lines, sub-assemblies), the allocated supply figure also links to a pop-up window. This pop-up window displays allocated source of supply details. Sources of supply can be inventory or supply orders. When an organization experiences shortages, demand orders are delayed. The allocated supply pop-up window displays where the inventory or supply is missing or delayed.
New Planning Workbench View Filters
This release enables users to create a saved planning workbench view which can include pre-set filters and an embedded item saved search. The item saved search can include item-related criteria, such as item location and preferred supplier. You can use Saved Search to filter the planning workbench results for the item preferred supplier. This enables planners or buyers to view all related planning data for that supplier.
Supply chain management
Warehouse Management Enhancements
Zone Picking for Single and Multiple Orders – users are now able to define zone(s) from which orders are to be picked. In both single and multi-order picking processes Pick & Merge picking type is supported, including the option to require staging of all items from an order in the same bin.
Tally Scanning now supports the following mobile processes: Bin Putaway, Bin Transfer, Inventory Transfer, Cycle Count, Returns.
Centralized Purchasing released in 2021.2 release is now supported in WMS so users can receive purchase orders across multiple subsidiaries and locations, selecting the target location of the purchase order line right on the mobile screen.
Quality Management Enhancements
Include additions of new saved searches and workflows for enhancing the Quality Reporting experience as well as further automate data capture and exceptions handling within the quality management process.
Advanced Project Budgets Enhancements
The Advanced Project Budgets feature introduces the following enhancements:
Flexibility for the Project Budget record – With this updated functionality, you can create two types of project budgets – either Baseline or Estimate at Completion (EAC). You can update both types independently because NetSuite stores data for both budget types separately.
Update of the current Budget vs. Actual reports – This enhancement includes adding data from both baseline and EAC budgets. You can compare them with each other and with actuals in the Baseline vs. Actual vs. EAC report.
New subtabs on the Budget tab of the Project form – You can now see the EAC Budget, Baseline Budget, and Budget History subtabs, The EAC Budget and Baseline Budget subtabs let you display both budgets on the Project form. The Budget History subtab includes the version history of project budgets. Previously, the Budget tab on your project showed the information for the latest baseline budget only.
Project Intercompany Cross Charge Request
In 2022.1 release, the Project Intercompany Cross Charge Request feature provides the ability to cross-charge amounts between subsidiaries with the integration of 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. The Project Intercompany Cross Charge Request feature now supports SuiteScript and SuiteFlow allowing you to request approvals around the record.
Invoice Presentation Template
This release brings in a new suiteapp – Invoice Presentation Template, which provides the ability to customize and present invoice billing data to the specific needs of each client. Providing clients with a detailed view of charges helps to ensure prompt payment.
SuiteAnalytics: Dataset Linking now available in the workbook UI
Users can now link two datasets in the Workbook UI. Linking datasets enables analysis for metrics from two datasets in a single visualization, based on a link that you define using at least one field in each dataset. Datasets can be linked even if they are based on record types that do not have predefined common keys in the analytics data source, unlike when you join record types in a dataset. Additionally, with linked datasets you can compare data that exists on two different levels of aggregation, like the sum of individual transactions compared to a monthly budget.
The below recording demonstrates how easy it is now after NetSuite 2022.1. release to combine and compare production and sales data.
Andrei Postolache is an experienced consultant, who has been working with NetSuite since year 2018, helping customers across EMEA region to enable growth within Wholesale, Retail, Manufacturing, Services and Software industries.
Senior NetSuite Solution Consultant
Tel: +40 (739) 929 728