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2009/09/08

2009.2 New Features - IT-Ration's Pick

With Netsuite's 2009.2 release arriving quickly, we at IT-Ration have scoured the release notes, attended Partner conferences and tested in Beta instances all the shiny new toys user will be getting. Here is our list (in no particular order) of the most relevant and useful new features likely to get you excited:

1. Inventory Transfer Orders
This has often come up as a request from many customers. Up until now, any Inventory Transfer basically caused instantaneous inventory movement from one Location to another. However, as anyone that actually transfers stock from one warehouse to another will tell you, there is freight time to be considered - something Netsuite just didn't handle. With this new functionality, you will finally be able to correctly handle transit time, through the familiar and logical steps of creating the Transfer order, Fulfilling it on one end and then Receiving it on the other.

2. Absolute Pricing for Customers
This one is simple, but very handy. You'll be able to define the price a customer pays for specific items directly on the customer record. This adds a finer level of granularity than was available with Price Levels, so I'm sure this will be very useful to many. A great example of use are contracts between you and a customer. If after negociations you agree to sell a good or service to a customer at a specific rate, it doesn't make sense to create a Price Level for it, since no other customer will be using this rate. A rate defined directly on the Customer is the way to go.

3. Inventory Adjustment Worksheet Posting
Inventory Adjustment Worksheets used to be the very first first transaction of a date. Meaning, if you did a worksheet at 5:30pm, after a full day's entry of Invoices, Bills, and inventory movements, intending your Worksheet to be the final count after all these movements, you had a problem, because the day's transaction would be recorded on top of the worksheet. Oops. But now, with 2009.2, you will correctly be able to mark your Worksheet as being the very last transaction to be considered on the given date. Much better this way, especially during year end's physical count! (If I lost you on that one, look forward to an upcoming blog post where I'll explain a few gotchas about Inventory management).

4. Classifications on Receipts and Fulfillments
You can now tag Class/Locations/Department at the line item level on Item Receipts and Fulfillments. Simple, but good news if you wanted to do that and just couldn't before.

5. Period Closing Enhancements
Netsuite will now have a little wizard to help you figure out what are all the little things you should be doing when closing a Period in Netsuite, step by step. Good feature to ensure your accounting remains in good health. The wizard/checklist is mandatory, so you won't be able to simply Close a Period by checking a single box like you used to. However, should you want to skip a step (like, say, Revalue Open Foreign Currency Balances), you can simply mark the step as Complete rather than actually doing it. So in the end, you won't be forced to do anything you don't want to.

6. Sitemap Generator
This one is for you webstore users. While Netsuite still clearly flags this functionality as being "Beta" (meaning it may not work all that great for you, especially if you have a more complex flow - see limitations in the documentation), this is going to be a great time saver. I imagine many webmasters, daunted by the effort required to get one up, will now happily be able to include a sitemap, while those that already had one will be relieved of the work taken off their hands.

7. CSV Import Support for Purchase Transactions Imports
2009.2 will open the CSV Import Assistant to purchasing transactions, which will be good news to many. Don't forget about the IT-Ration Connector for more complex importing needs and other records, as always!

For full details of thse functionality, as well as the many others, check out the 2009.2 Release Notes in your Help center, under Additional Resources->What's New->Version 2009 Release 2 Sneak Peeks (there is a link at the bottom for the full Release Notes, which are much more detailed than the Sneak Peek)

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