NetSuite 2026.2 – Key Updates
Oracle NetSuite has introduced a number of enhancements in the latest NetSuite 2026.2 release, covering financial close, financial reporting, security, banking, intercompany processing and Fixed Assets Management.
We have highlighted some of the key updates that we believe will be of particular interest to finance teams, NetSuite administrators and system owners.
- Enhancements to Intelligent Close Manager
Intelligent Close Manager has been enhanced to provide greater flexibility and visibility when managing the financial close process.
Users can now create user-defined tasks for close activities that are specific to their organisation. These tasks are displayed on the Custom tab within the Intelligent Close Manager portlet, allowing them to be assigned and tracked alongside NetSuite’s system-generated close tasks.
The portlet can also generate narrative insights providing an overview of close progress and helping users identify areas that may require attention.
In addition, the Accounting tab now includes a Run Intercompany Eliminations task, allowing intercompany eliminations to be incorporated directly into the close process.
Why this matters:
These enhancements provide finance teams with greater control over their close activities and can help bring more of the month-end close process into NetSuite.
- IFRS 18 Income Statement Layout
NetSuite now provides an IFRS 18 Standard Income Statement Layout to help organisations structure their income statement reporting in line with the new IFRS 18 presentation requirements.
The layout supports the following categories:
- Operating
- Investing
- Financing
- Income taxes
- Discontinued operations
The layout can be customised using the Financial Report Builder, including the addition of filters such as Account Name to individual sections. It can also be used with supported reports, including the Income Statement and Comparative Income Statement.
IFRS 18 replaces the existing IAS 1 requirements relating to the presentation of financial statements and applies to annual reporting periods beginning on or after 1 January 2027.
Why this matters:
Organisations reporting under IFRS should begin reviewing their current financial reporting structure and account classifications to assess what changes may be required ahead of the IFRS 18 effective date.
- Get Started with NetSuite Next
Where available for your account, the new Get Started with NetSuite Next page provides administrators with a central place to explore the latest NetSuite Next capabilities.
Options include:
- Managing access to Ask Oracle
- Accessing Next Preview
- Managing access to NetSuite Next
Preview accounts use a copy of your NetSuite data, allowing you to explore the AI-powered NetSuite Next interface without affecting your main NetSuite account.
Why this matters:
NetSuite Next represents Oracle’s continued investment in AI-powered capabilities within the NetSuite platform. Preview environments provide an opportunity for administrators to understand the new functionality before considering how it could benefit their organisation.
- Enhanced Visibility for Auto-Generated Numbering
NetSuite has introduced additional visibility into changes made to Auto-Generated Numbering settings.
The Auto-Generated Numbers page now includes a History column for supported document types. The History window provides details of recent changes, including:
- Date
- User
- Context
- Previous value
- New value
To access this information, navigate to:
Setup > Company > Auto-Generated Numbers > Document Numbers
Select the relevant document type and click View.
Why this matters:
The new History functionality provides additional visibility when reviewing changes to transaction numbering and can support internal audit and compliance processes.
Please note: The History window is not a complete change log. It displays the latest changes for supported fields and does not track changes to the Update Initial Number or Update fields. Custom transactions are also not supported.
- New Very Strong Password Policy
NetSuite now provides a new Very Strong password policy option.
The Very Strong policy builds on the existing Strong password policy but requires users to meet all four character group requirements.
The password policy can be configured from the General Preferences page.
Why this matters:
The new policy provides administrators with an additional option for strengthening account security and aligning NetSuite password requirements with their organisation’s wider security policies.
- Inactive Subsidiaries Hidden from Reporting Context
Inactive subsidiaries that have no posted transactions are now hidden from the Subsidiary Context list when running reports.
Inactive subsidiaries that have posted transactions remain available, ensuring that historical financial reporting and accounting records can still be accessed where required.
Why this matters:
This should provide a cleaner and more relevant subsidiary selection when running reports, particularly for organisations with a large number of historical or inactive subsidiaries.
- View Cross Charge Journals from the Cross Charge Workbench
The Cross Charge Workbench now includes a View Cross Charge Journals button.
Users can select this option to review the intercompany cross charge journals generated by the workbench.
Why this matters:
This provides greater visibility into the journals created through the cross-charge process and can make reviewing and reconciling intercompany activity more straightforward.
- Create Customer and Bill Payments During Bank Reconciliation
NetSuite now allows users to create Customer Payments and Bill Payments directly from the manual bank reconciliation workflow.
Navigate to:
Transactions > Bank > Bank Matching and Reconciliation > Match Bank Data
From the Transactions to Match subtab:
- Select bank lines relating to inbound transactions and choose Create Payment to create a Customer Payment.
- Select bank lines relating to outbound transactions and choose Create Bill Payment to create a Bill Payment.
Users must have the appropriate permissions to create the relevant payment type.
Customer Payments support invoices and credit notes, while Bill Payments support bills and bill credits. Instalments, partial applications and payment discounts are also supported.
Why this matters:
This enhancement can reduce the number of steps required during bank reconciliation by allowing payments to be created directly from the transactions being matched.
Please note: Bill Payments that require approval must still be created outside this workflow, as transactions awaiting approval cannot be matched.
- New FAM Diagnostics for Duplicate and Stale Depreciation Records
Fixed Assets Management (FAM) now includes two additional diagnostic processes:
- Check Duplicate DHRs
- Check Stale DHRs
These diagnostics help identify depreciation history records (DHRs) that may affect depreciation processing.
Duplicate DHRs can occur where previous forecast DHRs have not been cleared before new forecast DHRs are generated, potentially resulting in duplicate depreciation amounts.
Stale DHRs can occur where forecast DHRs are generated but the associated Asset Value records are not updated correctly. These records may no longer reflect the relevant Asset Value record or current depreciation date.
Where affected records are identified, users can open the Review Assistant and download a CSV file containing the DHRs selected for deletion.
The diagnostics can be run from the FAM Diagnostics portlet or scheduled from the FAM System Setup page.
Why this matters:
These new diagnostics provide Fixed Assets administrators with additional tools to identify potential depreciation data issues and investigate records that could affect depreciation processing.
- Asset Reset Optimisation
Fixed Assets Management has also been enhanced to improve the efficiency and reliability of Asset Reset processing.
Previously, organisations with large asset histories could experience delays or errors when old forecast values were removed. This could contribute to duplicate or stale depreciation history records.
With this enhancement, FAM processes Asset Reset clean-up activities in smaller batches, helping the process complete more reliably.
Why this matters:
Organisations with large Fixed Asset volumes should benefit from more reliable Asset Reset processing, although customisations or invalid Asset Value field data may still affect the process.
Our View
The latest NetSuite 2026.2 release includes several practical enhancements that could benefit finance teams, particularly around financial close, reporting, bank reconciliation, security and Fixed Assets Management.
We recommend reviewing these changes against your current NetSuite processes to identify whether any of the new functionality could help streamline existing procedures, strengthen controls or reduce manual work.
If you would like to discuss how these enhancements could apply to your NetSuite environment, please feel free to get in touch via our contact page HERE.
Until next time
Betty