You're a property manager, juggling multiple tenants, complex lease agreements, and endless invoices. One late payment here, a missing invoice there, and suddenly, your cash flow is in jeopardy.
It’s a frustrating cycle that slows down property acquisitions, maintenance, and ultimately, growth.
The constant chase for payments and dealing with manual processes creates a bottleneck, leading to operational inefficiencies that are tough to overcome. How much longer can your team operate like this?
NetSuite accounts receivable for real estate can automate invoicing, payment tracking, and cash flow management, freeing you from these challenges.
TL;DR: Key Takeaways
NetSuite accounts receivable for real estate is your digital collections assistant that never sleeps. Over 26,000 organisations worldwide use this cloud-based system to handle their incoming money.
Here's the thing about property management: Standard accounting software wasn't built for your world. You need rent collection workflows that understand service charges, maintenance fees, and those awkward mid-month lease adjustments.
NetSuite gets it. The platform handles everything from single rental properties to massive commercial portfolios. Your team can bill hundreds of tenants, track payments, and spot late payers without drowning in spreadsheets.
Now that you know the basics, let’s look at the key features of NetSuite AR for real estate.
Now let’s get practical. NetSuite accounts receivable for real estate comes packed with tools designed specifically for property operations. Let’s break down the key features:
The problem: Your team spends entire days creating invoices, sending reminders, and updating payment records manually.
The solution: NetSuite handles everything from invoice generation to payment posting without human intervention.
Real-world impact: Set up your rent cycle once, and invoices go out automatically on the first of every month. Late payment reminders follow up after seven days, and successful payments update tenant records instantly.
The problem: You're constantly hunting through different systems to see who's paid and who hasn't.
The solution: Live dashboards show real-time payment status across all properties in one central view.
Real-world impact: Check your phone at 9 am and instantly see which tenants have paid overnight. Spot payment patterns and identify potential problem accounts before they become actual problems.
Must read: How Payable Dashboards Enhance Financial Decision-Making for Property Managers
The problem: Different properties have different lease terms, making consistent billing nearly impossible to manage.
The solution: NetSuite applies specific billing rules automatically based on property type, lease agreement, and tenant history.
Real-world impact: Commercial tenants get quarterly invoices with net-30 terms, whilst residential tenants receive monthly bills. Late fees are calculated automatically based on each property's specific rules.
The problem: Hours spent manually transferring AR data between systems, often introducing errors that take days to fix.
The solution: Direct integration updates your general ledger instantly when payments are processed or invoices are created.
Real-world impact: Month-end reconciliation takes minutes instead of days. Your accountant gets accurate reports without chasing missing transactions.
The problem: International properties or foreign tenants create complex currency conversion and tax calculation headaches.
The solution: Built-in currency conversion and regional tax rules handle international transactions automatically.
Real-world impact: Bill your London tenants in pounds and Edinburgh tenants in pounds, whilst automatically applying correct VAT rates for each location.
While NetSuite takes care of your AR, why not give your entire property management workflow a boost?
Book a quick demo and we’ll show you how RIOO can make your life a whole lot easier.
Not every real estate business needs enterprise-level accounts receivable management. NetSuite accounts receivable for real estate works best when your operations demand sophisticated financial tracking and automated workflows.
Let’s break it down to see if it aligns with your needs.
Let’s walk through the steps to get NetSuite AR up and running in your property business.
Rolling out NetSuite accounts receivable for real estate requires careful planning and structured execution. Most implementations fail due to rushed setup phases rather than system limitations.
Here’s a simple, step-by-step guide to getting started:
Start by building your property structure inside NetSuite. Create separate entities for each building or portfolio. Set up billing rules for residential rent, commercial leases, and mixed-use properties.
Configure your tenant types and payment terms:
Map your chart of accounts to include CAM charges, late fees, security deposits, and maintenance reserves. This foundation determines how accurately NetSuite tracks your revenue streams.
Connect NetSuite to your property management system for automatic data sharing. RIOO Integration pulls lease details, tenant information, and rent rolls directly into NetSuite without manual entry.
The integration handles:
Test the connection with sample data before processing live transactions. Verify tenant names, unit numbers, and rent amounts match between both systems.
Clean up your existing tenant records before importing them. Review outstanding balances, resolve billing disputes, and standardise tenant names across all properties.
Import these records systematically:
Start with one property's data, verify accuracy, then expand to your full portfolio. Poor data quality creates billing errors that take months to resolve.
Build recurring processes that eliminate manual work each month. Set up automatic rent invoicing, late fee calculations, and reminder emails for overdue accounts.
Create workflows for:
Configure general ledger postings to update automatically when payments are received. This keeps your books current without manual journal entries.
Assign system access based on job responsibilities. Leasing agents need invoice creation rights, property managers require reporting access, and accounting staff need full financial controls.
Train each team on their specific functions:
Also read: What High-Performing Property Managers Do Differently During Leasing Season
Launch with one property to test real-world operations before expanding. Monitor collection times, billing accuracy, and user adoption during the first month.
Track these key metrics:
Schedule weekly team meetings to address issues quickly. Small problems become major headaches if left unresolved during implementation.
Ready to wave goodbye to manual errors?
Integrating NetSuite with RIOO simplifies tenant management by automatically syncing lease details, payment histories, and billing information. This seamless connection streamlines your property accounting process, reducing errors and boosting operational efficiency.
Let’s break down the costs of implementing NetSuite AR for your business.
Understanding the true investment required for NetSuite accounts receivable in real estate helps you make informed budget decisions. Most property managers underestimate ongoing costs but overestimate implementation complexity.
The pricing model for NetSuite AR can vary depending on factors such as the number of properties, integrations, and customization needs. Here's a quick look at what drives costs:
Automation reduces manual AR tasks by approximately 15-20 hours per property manager monthly. Calculate your potential savings using current staff costs and error reduction benefits.
Example savings breakdown:
A property manager earning $45,000 annually costs roughly $28 per hour. Saving 15 hours monthly equals $420 in labour costs alone, plus reduced billing errors and faster collections.
Long-term savings compound through improved cash flow and reduced administrative overhead. Most property portfolios achieve payback within 12-18 months.
Plan for three cost categories during the NetSuite AR rollout. Initial setup requires the largest investment, followed by training and ongoing support expenses.
Budget allocation recommendations:
Factor in temporary productivity reduction during the first quarter as teams adapt to new workflows.
Security, reporting, and mobile access—NetSuite AR has you covered. Let’s break down how it works.
Effective AR management in real estate means having the right tools to secure data, gain actionable insights, and manage operations remotely. NetSuite accounts receivable (AR) offers all these features in one platform, designed to make your life easier.
Tenant financial data security isn’t something you can compromise on, and NetSuite understands that. With end-to-end encryption and multi-factor authentication, your sensitive information stays secure, while SOC 2 Type II certification ensures the platform meets industry standards.
Running a property portfolio requires up-to-date insights, and NetSuite provides just that. The platform gives you tailored reports on payment trends, occupancy rates, and overdue accounts.
Managing a property portfolio isn’t confined to the office anymore, and with NetSuite’s mobile app, you don’t have to be tied to a desk.
When you need help, NetSuite’s 24/7 support is available via phone, email, or live chat.
In a nutshell, NetSuite AR doesn’t just manage your accounts; it enhances security, boosts efficiency, and gives you the flexibility to manage your portfolio from anywhere. Simple, secure, and seamless.
With all these capabilities, it's clear that managing tenant accounts the old-fashioned way simply won't cut it anymore. The future of AR in real estate is about smarter, more secure systems that make life easier.
Now, combine that with RIOO. With over 180,000 sites managed across the US and Canada and $150M in monthly rent collection, it’s already transforming property operations. And with $1.5M in annual charges fully automated, RIOO is making everything smoother for over 400,000 tenants in 600,000+ communities.
Ready to simplify your property management? Book a demo.
Also check out: What Slows Down Property Sales—and How the Right App Solves It
NetSuite Accounts Receivable (AR) for real estate is a cloud-based solution that helps property managers automate and streamline the billing, collection, and reporting of tenant payments. It integrates seamlessly with real estate management systems to simplify financial operations, reduce manual errors, and improve cash flow visibility.
NetSuite AR boosts cash flow by automating invoicing, payment tracking, and collection processes. It reduces delays by providing real-time visibility into tenant payment statuses and streamlining reporting. Predictive analytics can also forecast cash flow, helping property managers plan better for future expenses.
Yes, NetSuite AR complies with key real estate regulations, including the Fair Housing Act, GDPR, and CCPA. The system ensures data security, automates compliance reporting, and provides audit-ready documentation, helping property managers stay on top of regulatory requirements without manual effort.
NetSuite AR offers real-time tracking of tenant payments, including overdue accounts and partial payments. It integrates with property management systems to automate billing, generate reports, and send reminders to tenants. This reduces the administrative burden and ensures accurate records for financial reporting.
Yes, NetSuite AR can be integrated with most property management systems, including RIOO. This integration allows for seamless data transfer, ensuring that all tenant billing and payment data is updated in real-time across platforms, enhancing operational efficiency.