NetSuite 2023.2 Release Notes 

The NetSuite 2023.2 release introduces enhanced features, providing increased efficiency and broader access to role-specific business insights, improving decision-making across all organizational levels. This latest release empowers customers with a greater array of pre-configured metrics, facilitating quicker access to insights without manually combining datasets or employing intricate calculations.  

1. NetSuite – Accounting 

Leverage the advanced analytics and customizable budgeting features in the upgraded NetSuite, alongside enhanced Kit/Package item merging capabilities and the innovative NetSuite Account Reconciliation feature. NetSuite solution providers can help you realize the advantages of optimized processes through personalized GL lines, refinements in Fixed Assets Management, and localization enhancements tailored for Brazil, India, and Japan. 

2. Account Setup and Maintenance 

• Elevated Security Measures for Roles and Permissions: Supplementary permissions for standard record types have recently been integrated. These newly introduced permissions are now seamlessly integrated into the standard roles. 
• In System Notes, Line-Item IDs are now presented, including Line ID and Transaction ID fields for enhanced detail and tracking. 

3. Authentication 

• Starting March 1, 2024, SMS and voice call authentication support will be discontinued. Users are required to update their login method to utilize an authenticator app. 
• With the introduction of NetSuite 2024.1, Outbound Single Sign-on (SuiteSignOn) will no longer receive support in non-production accounts, including sandbox accounts. Furthermore, starting with NetSuite 2024.2, this feature will cease to be supported in production accounts. 

4. NetSuite – Banking 

Cash 360 now extends its capabilities to provide cash projections across subsidiaries. Payment Automation introduces a cutting-edge payment method optimization service, offering advantages such as Virtual Cards and multi-level batch approval routing. Further enhancements include improvements in Payment Automation, heightened accuracy in Bank Feed dates, and the availability of a new Australia Bank Feeds SuiteApp.  

5. Inventory Management 

• Item 360 Dashboard now features a button within item records, allowing one-click access to the Item Overview page with the relevant item filter pre-populated. 
• Within SuiteBilling, the innovative “Make Copy” function empowers users to duplicate billing accounts, streamlining the replication process effortlessly. This cutting-edge capability in SuiteBilling allows users to replicate subscriptions, optimising subscription management efficiency seamlessly. 
• Optimize Subscription Pricing Sublist: Experience increased flexibility in the pricing tab, allowing you to customize its standard sublist fields according to your preferences. 

6. NetSuite – Manufacturing 

• In the upgraded version 1.1.0 of the Costed Bill of Materials SuiteApp, notable enhancements include the ability to download reports and conveniently share them via email. 
• For overdue instalment payments in purchase transactions, you can now input fine and interest amounts. 
• In India Localization updates, invoices for Unregistered customers can now include Quick Response (QR) codes containing encoded e-invoice information. 

7. NetSuite – Projects 

Project Billing and Revenue have advanced with a new Revenue tab linked to recognition, improved subtabs, and enhanced Time and Expense notifications. The Project 360 Dashboard now handles 6000 projects, featuring access-level functionality.  

8. NetSuite – Suite Analytics 

SuiteAnalytics Workbook UI is improved with added functionalities. SuiteAnalytics Connect brings new record mapping and updated drivers. Formula (Text) fields display plain text for enhanced security. Dashboard Tiles are improved, and the SaaS Metrics SuiteApp offers advanced features.  

9. NetSuite – Suite App Distribution 

Suite Bundler, SuiteApp Marketplace, and SuiteApp Control Center simplify customization distribution. Note that while 2023.1 bundles seamlessly fit into 2023.2, installing 2023.2 bundles on 2023.1 accounts may have limitations.  

10. NetSuite – SuiteCloud Development Framework 

SuiteCloud Development Framework (SDF) now offers advanced support for item custom field feature dependencies, allowing flexible SuiteApp installation even with inactive NetSuite features. SDF remains a powerful tool for effortless customization, project creation, deployment, and management.  

11. NetSuite – Taxation 

Utilize the advanced Multiple Shipping Routes feature in SuiteTax to efficiently ship to various addresses with different methods in a single transaction.  

12. NetSuite – Vendors, Purchasing, and Receiving 

Advanced Bill Capture supports multiple file uploads, efficient row management, and auto-refresh on the Scanned Vendor Bills page. The Review Bill page introduces refined features like subsidiary mapping, precise line suggestions, and smart duplicate detection. Enhanced email efficiency includes increased file size limits, missing attachment notifications, and specific permissions for Vendor Bill Senders. 

Conclusion 

The NetSuite 2023 Release 2 introduces a range of compelling improvements throughout the suite. Packed with new features and enhancements, this release empowers your teams to foster resilience, meet expectations, and outpace the competition. It extends NetSuite’s mobile capabilities, providing tools to streamline processes and enhance data accuracy during the production process. As a leading NetSuite Consultant, SuiteMatrix simplifies NetSuite implementation, integration and more by offering expert guidance and solutions tailored to your business needs. From seamless integration to efficient customization, SuiteMatrix ensures a smooth and optimized NetSuite experience, enhancing your operational capabilities.