Netsuite 2020.2 is just around the corner, and as per usual, it brings with it a plethora of improvements, upgrades & new features, and nuances. In this article post, we will go over some of the biggest features and updates to be both excited and wary of with the release of 2020.2. We got you covered on how to prepare to ensure your business is ready for this new release and minimize any downtime.
Data Center Infrastructure Update
Data center-specific domains are targeted for deprecation! As of 2020.2, you MUST use account-specific domains or utilize dynamic methods to locate the correct domain to use for SOAP web services, RESTlets, external Suitelets, and external forms. What does this mean? In a nutshell – as of now you can call a Suitelet using a URL such as:
However with the 2020.2 update, the latter URL format will break. Meaning any contact / custom form, RESTLET, suitelet, or 3rd party integrations using the old URL format to connect to Netsuite will break once the 2020.2 update goes live. This could be a huge problem, and crucial areas of your website or other functions could stop working when this change is enforced.
There are two areas in NetSuite that can help track these things down:
- Setup > company > traffic health
- Setup > company > account mobility tasks
The Traffic Health tool is available in NetSuite to help you find the use of data centre-specific URLs by the aforementioned services. Traffic Health now evaluates the NetSuite UI, Commerce sites, inbound email, and the File Cabinet to identify traffic that is using data centre-specific URLs in your account. It can be tricky to identify all the areas that might need updating, so contact us for help.
NetSuite 2020.2 includes new accounting options to give you control over the generation of revenue recognition forecast plans. There’s also an update to The Currency Exchange Rate Types feature which lets you store multiple currency exchange rates for a currency pair and date. Previously, you could have only one exchange rate for each currency pair and date combination.
Other accounting upgrades include:
- All balancing segments preferences and setup processes are now located in the Balancing Segments subtab in Setup > Accounting > Accounting Preferences (Administrator)
- Print the general ledger impact for transactions from all accounting books, including secondary books.
- Filter and select which general ledger impact statements to print in bulk based on general ledger number, document number, or transaction number.
These updates focus mainly around automating the process of creating and matching account transactions with imported bank data. It includes the automatic creation of transactions based on bank import data. If there is a match, NetSuite will automatically create the specific transaction minimizing tasks around bank reconciliation. If you aren’t already using automated bank reconciliation, let’s chat! It is a huge time saver for your accounting folks.
There are a number of other features being introduced in this update that we will not get into in this article. They are focused around, but not limited to: Global Subsidiary Management Features, significant Inventory & order management upgrades, and other transaction features. For more information and a more detailed list of this features please visit the official Netsuite page related to this update:
https://www.netsuite.com/portal/landing/2020-2/main.shtml. The full release notes can be found on the home page ‘new release’ portlet on the home page after logging into your NetSuite account.
What To Do Before The Update
Before the 2020.2 release, you MUST update your integrations, RESTlets, external Suitelets, and any external forms in your production Netsuite account that are still using data centre-specific domains, or they will break! NetSuite kindly gives you the tools needed to identify the data centre-specific URLs within your account and to verify that any updates to these URLS are successful. See the help topic Traffic Health for information on locating data centre-specific URLs in your production account.
If you are confused or worried about crucial areas of your site breaking during this upgrade, please contact us and we will be more than glad to assist in keeping your website un-phased by this update.