The NetSuite 2026.1 release marks a significant step forward in financial automation, focusing on standardisation, AI-driven insights, and global compliance. This update is designed to reduce manual rework and provide finance teams with more reliable data for decision-making. This blog explores the key enhancements within the Banking, Accounting, and Taxation modules that will redefine your financial workflows.
In this article, we focus on three areas that matter most to finance teams: Banking, Accounting, and Taxation. Rather than listing every change, we explore how these updates work in practice—and what they mean for organisations managing complexity across cash flow, reporting, and compliance.
Banking: Smarter Cash and Reconciliation with NetSuite
The banking category sees a major shift toward proactive management and enhanced connectivity.
- Payment Date Prediction for Invoices: Using machine learning, NetSuite now provides estimates for when customers are likely to pay open invoices based on historical patterns. These predictions appear as read-only fields on invoice forms and lists to assist with cash flow planning.
- Customised Import Scheduling: You are no longer limited to a single daily bank import. You can now set specific frequencies, intervals, and start times for automated imports within each format profile.
- On-Demand Data Updates: For connected accounts (AISP), a new "Update Imported Bank Data" button allows you to trigger a real-time refresh of transaction data directly from the format profile page.
- Standardised Error Reporting: Troubleshooting failed imports is now easier with standardised error codes and clearer messages, replacing the previous plain-text failure reasons.
Accounting: Reliability and User Experience
Accounting updates in 2026.1 focus on making the General Ledger more accessible and integrations more robust.
- Standardised Journal Line Sublists: Journal line sublists now use a "keyed" configuration. This allows integrations (REST, CSV, SOAP) to update, add, or remove specific lines using unique keys rather than overwriting the entire sublist.
- Posting Period Flexibility: Users can now change the "Posting Period" field on journal entries while they are still in "Pending Approval" status. This ensures consistent accounting and reduces the risk of mispostings before final approval.
- GL Impact Tabbed Drawer: To provide an at-a-glance view without leaving the transaction page, the GL Impact view has moved from a subtab to a new tabbed drawer layout.
- Automated Reclassification Approvals: NetSuite now automatically approves all reclassification journal entries. This eliminates manual steps and prevents duplicate GL impacts by disabling manual approval fields.
Taxation: Global Compliance and Granular Accuracy
Tax updates enhance precision for multi-location businesses and expand localisation for South America.
- Line-Level Location in SuiteTax: Nexus determination now considers the location selected for individual item lines rather than just the transaction header. This provides more accurate tax calculations for orders fulfilled from multiple locations.
- Tax on Term Discounts: The system now automates tax adjustments when term discounts are applied to sales transactions. NetSuite automatically generates credit memos for both the discount and its associated tax amount.
- Chile Localisation: A new Chile Localisation SuiteApp is now generally available, supporting electronic invoicing (SII-compliant), electronic bank payments, and financial reports specific to Chilean practices.
- Brazil Tax Reform Support: Updates have been implemented to handle Brazil's consumption tax reform, including support for the new CBS and IBS tax types and updated electronic document templates.
How These Financial Updates Work Together
While each enhancement delivers value on its own, the real benefit of NetSuite 2026.1 lies in how these updates connect:
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Banking improvements deliver more timely and accurate transaction data
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Accounting enhancements ensure that data is processed, posted, and reported correctly
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Taxation updates build on that accuracy to support compliance across jurisdictions
The result is a more integrated financial workflow—from transaction capture through to reporting and compliance.
Final Thoughts: Getting More Value from NetSuite 2026.1
The 2026.1 release is a comprehensive update that empowers finance departments to move away from reactive troubleshooting toward proactive management. By leveraging AI for payment predictions and standardising how data flows through journals and tax engines, NetSuite continues to streamline the path to a faster, more accurate financial close.
👉 Got questions? Book a consultation today to ensure your business is fully prepared for the NetSuite 2026.1 upgrade and to help you leverage these new financial automation tools to their fullest potential.