diff --git a/README.md b/README.md
index a9a6c54..53fdbb7 100644
--- a/README.md
+++ b/README.md
@@ -29,6 +29,7 @@ export NS_TOKEN_SECRET=xxxx
 The following snippet shows how to use TBA to initialize the SDK.
 
 Note: By default the SDK implementation is using the wsdl version '2019_1', if you wish to use other than the default wsdl version, you can pass an optional wsdl_version. The wsdl_version should be in following format: 'year_version' eg. '2023_1' or '2022_2' etc.
+From version 3.0.0, the default wsdl_version will be 2024_1.
 
 ```python
 import os
diff --git a/netsuitesdk/connection.py b/netsuitesdk/connection.py
index 93e3651..6652683 100644
--- a/netsuitesdk/connection.py
+++ b/netsuitesdk/connection.py
@@ -36,7 +36,7 @@
 class NetSuiteConnection:
     def __init__(self, account, consumer_key, consumer_secret, token_key, token_secret,
                  caching=True, caching_timeout=2592000, caching_path=None,
-                 search_body_fields_only=True, page_size: int = 100, wsdl_version: str = None):
+                 search_body_fields_only=True, page_size: int = 100, wsdl_version: str = '2024_1'):
 
         ns_client = NetSuiteClient(account=account, caching=caching, caching_timeout=caching_timeout,
                                    caching_path=caching_path, search_body_fields_only=search_body_fields_only,
diff --git a/setup.py b/setup.py
index 12f2634..60e6480 100644
--- a/setup.py
+++ b/setup.py
@@ -5,7 +5,7 @@
 
 setuptools.setup(
     name='netsuitesdk',
-    version='2.23.1',
+    version='3.0.0',
     author='Siva Narayanan',
     author_email='siva@fyle.in',
     description='Python SDK for accessing the NetSuite SOAP webservice',