NetSuite 2021.2 Release – What’s New

The latest release of NetSuite (2021.2) is scheduled to be released this fall. Key new features include: new functionality to streamline and automate financial operations, improved inventory, supply chain, and warehouse management, and enhancements to performance and retirement planning.

The NetSuite upgrade is on a rolling basis, starting in August 2021 through October 2021. Log in to your dashboard and check out the new release portlet to learn more about your upgrade date, see sneak peeks and more regarding the new NetSuite release. Contact us with questions.

Important Steps to Take Before Your NetSuite Upgrade

How do I know when my upgrade is taking place? 

NetSuite 2021.2: NetSuite customers will be updated in phases, with the first phase starting in August 2021 and the final phase in October 2021. Learn more about your upgrade date by checking the new release portlet on your dashboard. 

How do I receive a 2021.2 Release Preview Account? 

Nothing beats getting to test how all the new features will work with your data, workflows and customizations. Opt-in to take advantage of the Release Preview access period to prepare and become familiar with new NetSuite capabilities. 

  • From your production account, administrators should go Setup > Company > Release Preview. 
  • Click Request Release Preview 
  • The account will be available within 3-5 days 

 

Visit SuiteAnswers to learn more. 

What’s New

Finance Enhancements 

NetSuite release 2021.2 includes new finance functionality, including: 

  • Online invoice payment capabilities 
  • Automated matching of imported bank payments to open invoices
  • Consolidation of purchase requests
  • Ability to consolidate purchase requisitions across multiple-subsidiary organizations

 

Learn more about the financial enhancements in NetSuite 2021.2.  

Inventory Management Automation 

Enhancements to NetSuite Warehouse Management system allows workers more flexibility in quick shipping and packing of multiple orders to same location. These capabilities in turn optimize shipping costs.

Automatically prioritize inventory allocation and improve visibility.

Employee Management Automation

Upgraded SuitePeople functionality now automates calculations for 401(K) plans and includes rules-based formulas for calculating employer matches. The release also automates age matching calculation for catch-up amounts and manages contribution limits automatically while following IRS rules.

New Industry Features 

New features for software companies, wholesale distributors, manufacturers, retailers, service companies, nonprofit organizations, and developers. Learn more.

Learn more about the latest release, NetSuite 2021.2, on the NetSuite blog. Sign up to receive release updates as they are announced.

2021.2 NetSuite Release Schedule

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NetSuite 2021.2