52 Release Notes 24.10.1

NetSuite for Government 24.10.1 Release Notes

Revision Date: October 29, 2024

Important:

This document summarizes the changes to NetSuite for Government between 24.10.1 and the previous release. These release notes are subject to change every week.

The 24.10.1 enhancements and changes listed in this document are not available to customers until they are upgraded to NetSuite for Government 24.10.1. Your access to these features and SuiteApps is subject to the terms of service in your NetSuite for Government contract.

Please also review the NetSuite general release notes for a comprehensive view of changes to the release. During this release period, NetSuite version 2024.2 is released. The general NetSuite release notes are accessible at this link:

https://docs-uat.us.oracle.com/en/cloud/saas/netsuite/ns-online-help/book_N3865324.html

NetSuite for Government Version 24.10.1 – Release Date October 29, 2024

Finance:

• Government Budget Transaction:
  • Restricted import government budget adjustments.
• Carry Forward Encumbrances at Year-End:
  • Bills and Bill Credits paid against a purchase order which has been carried forward must be within the new fiscal year and cannot be posted back to the prior year. This validation only occurs for purchase orders which have been carried forward and the soft-year end close is fully approved.
• 1099:2024 Support:
  • The 1099 process was updated to use the new vendor tax identification numbers which were implemented in release 24.3.5.
  • The tax year 2024 CSV formats for 1099-MISC and 1099-NEC are now available for use and testing in the IRS IRIS Taxpayer Portal. See IRS publication 5717 for more information on IRIS taxpayer portal reporting.
  • 1099 mid-year reporting now includes the Subsidiary field to support multiple entities as well as the vendor Legal Name field which is used on the IRS filing.
  • The 1099 CSV export file for IRS reporting now contains a warning message when there are duplicate tax identification numbers used in the file so they can be merged for consolidated reporting.
  • The 1099 CSV export report has been updated to accommodate client data of tax identification numbers SSN and EIN with or without the formatting dashes.
• Interest Allocations:
  • The Interest Allocation report is available to show the detailed calculation results of the average daily balance calculation and resulting interest apportionment.
  • The Interest Allocation Pool Balance Cash Dates will now extend through the future to allow for reconciliation of cash balances.
  • The Interest Allocation detailed calculation results are now permanently archived in the File Cabinet and is also automatically attached to the Allocate Interest transaction for an audit of the results.
  • The Interest Allocation process now can skip participating cash pool accounts with a negative average daily balance. This avoids creating negative revenues for departments which do not have a positive fund cash balance.
  • The Interest Allocation process will now provide better error messaging for issues like an inactive fund or account.

Various Fixes and Performance Improvements

• The Purchase Contract number field has been added to the Bill, Bill Credit, Check and Journal Entry screens to allow activity tracking for vendor contracts. Additionally, the Contract field has been added to the Invoice, Cash Sale, Cash Refund, Credit Memo and Journal Entry screens to allow tracking on revenue contract activity.
• Added a new entity field on the NetSuite for Government Contract screen so that customers, employees, or other entity types are available for reference on contract tracking.
• The Vendor import was corrected to allow for tax identification number creation in the same file.
• Various enhancements to support future release of Quick Code functions.
• Account Types being too broad within budget validation - Only do budget validation against income statement type accounts.
• Resolved issue with account type drop-down in General Ledger Summary.
• The Vendor Bill Remaining Balance field was updated to ensure accuracy when using the Tax Details tab.
• Add the ability to select a subsidiary when completing the General Ledger Summary / Inquiry Reports.
• Corrected an issue with Budget Validation where rounding of cents caused an erroneous budget block.

Human Resources and Payroll:

• HCM Fund Allocation:
  • Update the posting logic to not consider inactivated fund allocations.
  • Improved usability on the Employee Fund Allocation and Default Fund Allocation record.
• Florida Retirement System Form:
  • Users can now utilize the system to auto-generate and calculate the employee's values for reporting to the Florida Retirement System.
  • Users now can use the enhanced NetSuite for Government Florida Public Employees Retirement System Form to improve their experience in correctly validating employee retirement data.
  • Users can now submit the FRS electronic file with the corrected format.
  • The FRS electronic file will automatically save and link to the reporting period during the commit process.
  • Users will generate the correct FRS electronic file without the use of the reporting file template.
  • Updated the electronic submission file to remove the +1 for Mobile Numbers and added the CRLF in last line.
  • User is now able to commit the State Retirement Reporting period and generate the State Retirement System File for Florida Retirement System.
• Tax Reports 941:
  • Users can now report on the taxes paid to Medicare and Social Security separately as the employer benefit and employee deduction.
• Affordable Care Act (ACA) Reporting:
  • Added a new functionality to populate the Employee 1095-C PDF Form from the Employee ACA Record.
  • The user will be able to display and print the Employee ACA pdf form with the correct formatting. The correct pdf format will be defaulted on the ACA reporting period.
  • Added the Employee Required Contribution field to the Benefit Plan record and the Employee Benefit Plan record. When the Employee Required Contribution field on the Benefit Plan record is populated, it will automatically populate all related Employee Benefit Plan Records.
  • Users can now print all employee ACA pdf forms without time out error.
  • Users can now set global preferences to be applied to ACA and W2 reporting.
  • Users can now populate and track all ALE member items for ACA reporting.
  • Users can now commit and uncommit the ACA reporting period.
  • Users can now indicate their ACA Eligibility Certification method and if they are an Employer provided self-insured coverage.
• W2 – State Taxable Wages and Box 14:
  • Users can apply State and Local Taxes to be displayed on the Employee's printed W2 form.
  • Map State Wages and Taxes from the Employee W2 Record to the Employee W2 PDF form.
  • The W2 Calculation and Employee W2 record generation code was refactored to use the employee payroll totals.
• Utah State Tax:
  • Users can now calculate Utah employee state tax with the updated tax brackets.
• Position Budgeting:
  • Employee records can now flow directly into Planning and Budgeting.
  • The Employee’s annual salary value can be used as a baseline in calculating the budget.
  • Salary schedules can now flow directly into Planning and Budgeting.

Various Fixes and Performance Improvements