NetSuite’s latest release, 2015.1 is in the process of being rolled out. This new version not only offers a number of new features that will help you better manage your business processes, but also addresses shortcomings in some existing features that were reportedly causing issues for customers. There are a bunch of new feature but we’ve whittled it down to the five best.
One of the biggest changes that’s being introduced in NetSuite 2015.1 is NetSuite for Android, which makes the complete NetSuite ERP available on Android devices; enabling mobile users to access their NetSuite dashboard, access and edit key record types, take business actions (like approving sales orders and expense reports), manage their calendars, activities, tracking and expenses, access custom fields & forms and utilize one touch calling, email and mapping, among others.
Another feature new to 2015.1 is the Custom GL Lines plug-in, which modifies the general ledger impact of standard and custom transactions. Using this plug-in you can add custom lines to the GL impact of transactions in NetSuite, to support specific requirements. The type of logic that you can define in these custom lines depends on the type of accounting features that you’ve used in your NetSuite account.
You can now use Request for Quotes (RFQs) to streamline your procurement process by directly asking vendors to provide the pricing, product info and terms and conditions for items you wish to purchase. You can solicit quotes from multiple vendors, so you can compare the pricing and terms and select the best offer.
For managing cash flow in instances where there’s a billing dispute (such as when a vendor has delivered the wrong quantity of goods or billed you incorrectly), you can now put a hold on payments for such bills, to ensure that they’re not paid till the dispute has been resolved.
With Release 2015.1, there is a new checkbox available on vendor bills in your NetSuite system when the status is either “pending approval” or “open.” If this checkbox is ticked, the system will not allow payments to be made against that particular bill, even if it has been approved through the approval hierarchy, ensuring that funds don’t inadvertently leave the company (via check, EFT, etc.).
Prior to Release 2015.1, you could not offer alternate payment methods on your web store (other than debit and credit cards) when using NetSuite’s payment gateway partners. This prevented vendors from accepting payments via online bank transfers, e-wallets, mobile wallets, direct debits and vouchers, etc. In 2015.1, you can accept payments via any alternate payment method that does not require authorization on sales orders. So you can facilitate your web store shoppers with a variety of payment options, and also collect payment prior to order fulfillment.
In 2015.1 the Advanced PDF/HTML Templates that were previously in beta, are now available as a standard feature and offer the following enhancements:
• Enhanced Template Editor
• Separate Templates for Email and Printing
• New Expense Report Template
To use this feature, you just need to enable it on the SuiteCloud tab via Setup > Company > Enable Features.
This new release will impact all those customers that have implemented customizations in their NetSuite accounts or are using third party apps and tools integrated with NetSuite, as it may break their functionality, if they have not been thoroughly tested with the new release. If you are one of those customers, you need not to worry because we are here to help you to get ready for this update.
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