NetSuite Release 2023.2 AVT NetSuite Release Preview Summary

Introduction

2023 is galloping past the halfway point here and it seems we have barely had a chance to bed down 2023.1 when NetSuite reminds us all to keep with its 2023.2 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 2023.2 release and that the final content may vary by the time of final release.

Summary

There are 48 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.

AVT NetSuite Release 2023.2 Selected Highlights

➤ Vendor Bill Capture

The Bill Capture Functionality released in 2022.2 has had some improvements that will further enhance this functionality for clients with large volumes of vendor bills to match or enter.

• Upload multiple files – You can upload multiple files on the Scanned Vendor Bills page. Previously, files could only be uploaded one at a time. Notifications alert you of successful and unsuccessful file uploads.

➤ Cash 360 Enhancements

This very useful liquidity management is improving every release and now, in the Cash 360 dashboard, you can now view cash projections not only for your subsidiary but also for
other active subsidiaries, including consolidated subsidiaries.

• The opening balance amount now considers the sum of all charts of accounts with the type bank for your subsidiary up to the current posting period only.
• You can now view future-dated transactions in the cash forecasts. Future-dated transactions are transactions for specific date ranges that fall into the next posting period. Future-dated transaction amounts are also included in the total closing balance calculations.

➤ Supply Planning Lot Sizing Options for Minimum Order Quantity

For users of NetSuite’s excellent inventory planning system this is a great enhancement. By location, the minimum order quantity can be set and delivers the following results:

• If the quantity required is less than the minimum, the minimum is ordered.
• If more than the minimum order quantity is required then the greater quantity is ordered (effectively Lot-for-Lot), or
• If more than the minimum order quantity is required then the greater quantity is ordered using the Reorder Multiple value to ensure that the quantity ordered meets Vendor requirements.

➤ Costed Bill of Materials SuiteApp Now Available

This SuiteApp provides a significant lift in functionality for this critical function for our manufacturing clients:

• View the comprehensive cost breakdown of an assembly item, including bills of materials, operations, and cost types based on selected bill of materials revision.
• View and analyse costs of individual components required for an assembly. This calculation also involves the material cost, labour cost, and additional costs associated with the component.
• Estimate the potential costs of manufacturing items for bill of materials.
• Access cost breakdowns for bills of materials as part of your product engineering and costing

➤ Warehouse Management (WMS) Enhancements

For users of the WMS Functionality, the following features will be of great use:

• Updates to Wave Creation – Wave Criteria page now contains the New and Edit options for setting up custom wave criteria templates. If you click either of these buttons, you can access the Wave Search facility and select your order, item, or shipping filters.
• Pick Reversal Capabilities – You are now able to reverse WO Picks and Bin selection from the Device instead of going to a PC and gain more flexibility about which bin the reversed items are returned to.

➤ User Interface Enhancements to SuiteAnalytics Workbook

The following features will improve the both the building of output from the Workbooks and how the User can take advantage of them:

• In the Dataset Panel, use the new Add all fields to the table button to add all the fields to your table view at one time.You can now use the new Tab menu icon next to your workbook tabs to rename or delete your tabs. You can still rename your workbook tabs by double-clicking the tab name. For more information, see the help topic Creating a Workbook.
• The Override box has been removed from the Format window so you can define your settings directly.

➤ Project 360 Dashboard

For clients using NetSuites’ Project Management, Accounting and Billing functions, the Project 360 Dashboard has done so much to improve visibility.

The upcoming release offers the following enhancements:

• Project 360 Access Level – much greater control of access by role or employee.
• Project 360 Dashboard Preference Page- This page contains all the focus pages that can appear on your Project 360 Dashboard. By default, the boxes for all the focus pages are checked on the preference.
  • Project Overview
  • Resource Planning
  • Budget and EAC
  • Billing and Revenue
  • Financial
• The My Project Portfolio Portlet now offers filters you can use to customise projects that appear on the dashboard. The following filters are located right below the name of the Project Portfolio port-let:
  • Project
  • Client
  • Project Manager
  • Project End Date

➤ End of Support for SMS/Voice Call for 2FASuiteApp

Sadly, for those of us who found this the easy option.

• On March 1, 2024, support will end for two-factor authentication (2FA) by SMS/Voice Call. When this support ends, it will no longer be possible to log in to NetSuite with a role that uses SMS/voice call for 2FA.

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

Please also consider book-marking the NetSuite Support Services – your go-to resource to submit support tickets and access knowledge base articles. The NetSuite Support Services also contains a direct link to NetSuite’s system status page.

Need more info?

Find out more at the NetSuite Blog page

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