Oracle NetSuite continues deploying significant upgrades to critical modules and supporting international growth through further localization capabilities. Out of the hundreds of new features and enhancements, we selected four we think you should know about.
Since the NetSuite upgrades are on a rolling basis, starting in February through April 2022, so you may or may not have been upgraded yet. Log in to your dashboard and check out the new release portal to learn more about your upgrade date, see sneak peeks, and more regarding the new NetSuite release.
NetSuite Release 2022.1 Release Highlights
Authentication
The End of Support for HMAC-SHA1 Signature Method for TBA is Postponed, but you should still update NOW.
NetSuite 2022.1 was previously set as the date for the end of support of the HMAC-SHA1 signature for the Token-based Authentication (TBA) feature. Although we don’t know the new target date, we urge you to update your integrations as soon as you can to use HMAC-SHA256. Any integrations and third-party integrations that use the TBA functionality with HMAC-SHA1 as a signature mechanism will stop operating after support ends.
When creating new integrations for TBA, you must utilize the HMAC-SHA256 signature technique.
Accounting
SuiteApprovals Enhancements: Record Locking and Re-approval
With this new release, records can be edited regardless of approval status. Purchase orders, vendor invoices, and expense reports all benefit from this feature.
Tolerance limits are set in percentages or amounts. To regulate if records are diverted for approval, you can specify tolerance limits. Only pending and approved records are subject to tolerance limits.
If the amount change in the records exceeds the set % or amount tolerance, the system reroutes them for approval using the same approval process. You can also prevent rerouting regardless of record amount changes. Purchase orders, vendor invoices, and expense reports all benefit from this feature.
Below is a screenshot of the tolerance limits that can be set at the Vendor record level:
Below is a screenshot of the tolerance limits that can be set at the Subsidiary record level:
Globalization
Paired Intercompany Transactions Enhancement
Standalone intercompany credit notes and vendor credits can now be paired in NetSuite 2022.1 and can be filtered based on the subsidiary, entity, and currency. Using the Paired Intercompany Transaction field on both records, you can link the documents together as easily as shown in this graphic:
SuiteApp Distribution
Bundle Support During Release Phasing
Some accounts will continue to utilize 2021.2 while others are updated to 2022.1 throughout the 2022.1 phasing. As a result, some of the accounts where your bundles are installed may be running a different version than you.
For a refresher on how various versions of bundles are handled during release phasing, see the explanations below:
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- Bundles that were created in a previous release can be installed in accounts that are already using 2022.1
- Some bundles created with 2022.1 can be installed in accounts that are still using 2021.2, but keep in mind that if the script uses a new API accessible only in 2022.1, it may not work correctly, or some objects might not be supported in older versions.
How to Update to NetSuite 2022.1
The NetSuite 2022.1 release adds promising new features that continue to improve in critical areas for NetSuite users. If you would like to read all the new releases coming to NetSuite, please download the Oracle NetSuite 2022.1 Release Notes. With so many new features, you may be questioning where to start, what you can do to prepare, how you should test the latest release and more to ensure that your organization and systems are ready for the upgrade.
If you need any help testing and validating your current processes, including customizations, scripts, workflows, and integrations for NetSuite 2022.1 or any future releases, please get in touch with a Big Bang NetSuite consultant.
