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Order Management Updates in NetSuite 2020.2

2020.2 Order Management |

Billing Account Flexibility with Draft Subscriptions

You can now create subscriptions without creating or specifying a billing account for the subscription. You can add invoice details later in your business process. You also can change the billing account until you activate the subscription or set its status to Pending Activation. This feature enables you select a different billing account instead of recreating a subscription when changes are required. For more information, see the help topic Creating a Subscription from a Transaction.

Monthly Recurring Revenue Workbook

In NetSuite 2020.2, SuiteBilling releases its first SuiteAnalytics Workbook, focusing on monthly recurring revenue. This feature includes the record, dataset template, and workbook template.

Use the standard workbook template for analytics on recurring revenue, churn, upsell, downsell, and

renewal revenue for all your subscriptions. Customize views with additional filters and data by modifying the workbook template and dataset template. Choose to visualize the data as a table, chart or pivot. The dataset template is based on the recurring revenue record. The workbook lets you compare revenue trends and details through the following customizable views:

  • Monthly Recurring Revenue Year-over-Year
  • Current Month Recurring Revenue
  • Monthly Recurring Revenue by Class
  • Recurring Revenue Sources
  • Upcoming Renewals
  • Top 10 Performing Items Last Month For more information, see the help topic Monthly Recurring Revenue Workbook.

Invoice Groups

Use the Invoice Groups feature to combine invoices for your customers. Combine invoices into groups

based on characteristics the invoices share. A customer can have multiple invoice groups based on the different criteria for each group. An invoice group is not a transaction, but it functions similarly to an invoice. You can use an invoice group to complete the following tasks:

  • Set up custom numbering
  • Customize the Invoice Group form
  • Accept customer payments Invoice groups work with SuiteFlow, they appear in searches and in reports, and they can appear on customer statements.

Invoice groups do not post to the general ledger. Invoices within the invoice group post to the general

ledger. After an invoice group is created, you can add or remove invoices from the group. Enable the Invoice Groups feature by going to Setup > Company > Enable Features. On the Transactions subtab, check the Invoice Groups box. For more information on the Invoice Groups feature, see the help topic Invoice Groups Overview.

Installment Billing Enhancements

In NetSuite 2020.2, the Installments feature includes enhancements to payment amount division. Prior to NetSuite 2020.2, any tax amount was collected with the first installment amount. Choose when you collect taxes based on the following options on the term record:

  • Split Evenly
  • Pay Tax Upfront The invoice record and sales order record indicate the tax method used, but it is only editable on the term record. If you have multiple subsidiaries, you can select a default tax allocation method for each subsidiary on the Invoicing Preferences page. The default method you choose is inherited by the Subsidiary field on the invoice record. For more information on the Installments feature, see the help topic Creating Installments. For more information on the Invoicing Preference page, see the help topic Global Invoicing Preferences. Classification Fields on Subscriptions and Subscription

Lines

You can now define the Class, Department, and Location fields on the subscription record and subscription line record. The Class, Department, and Location fields have default values that you can change. Charges and revenue elements for the Class, Department, and Location fields are populated by default from the subscription line values. For more information, see the help topics Creating Items for Subscription Plans and Creating a New Stand-Alone Subscription.

Required Deposit Workflow

The Required Deposit Workflow feature enables you to specify a required deposit amount on a sales order. You can specify the required deposit in the following ways:

  • an amount on the Items subtab for each line item in the Required Deposit Amount column
  • an amount for the whole sales order in the Required Deposit Amount field on the Items subtab
  • a percentage for the whole sales order in the Required Deposit Percentage field on the Items subtab

Enable the Required Deposit Workflow feature by going to Setup > Company > Enable Features. On the

Transactions subtab, check the Required Deposit Workflow box. You must select the Standard Sales Order – Invoice in the Custom Form sales order field for the feature to work. If you change any value, all remaining values related to the required deposit are automatically recalculated.

Imagine the following example scenario: you add two different items with the Unit Price of 20 USD, and

set the value of the Required Deposit Amount column to 10. The sales order total amount is now 40 USD. The following field values automatically change on the Items subtab of the sales order:

  • the Required Deposit Amount field value is now set to 20
  • the Required Deposit Percentage field value is now set to 50 Then, if you decide to change the Required Deposit Percentage to 75, the following happens automatically:
  • the Required Deposit Amount value changes to 30
  • the item line values are recalculated accordingly and set to 15 Previously, the entire unpaid amount on the sales order was considered to be a deposit. With this feature, you can specify the required deposit in a way that suits your needs. For more information, see the help topic Adding Items on a Sales Transaction.