"Our rent roll and our ledger never agree on the first try."
Solutions · Finance Leaders & Controllers
Close from the record, not from the reconciliation
Current receivables, property-level P&L, entity consolidation and a trail from every number to its source. RIOO lets property operations post directly to your NetSuite general ledger, so finance stops rebuilding the month.
Controller · month-endLive from NetSuite
Close progressDay 3 of 5
Unreconciled0property vs GL
AR > 30 days$84.2kAging report
Entities6consolidated
Capabilities
What finance leaders tell us
Each of these is a symptom of the same cause: operations and accounting live in different systems.
"I find out about delinquency weeks after it starts."
"Each entity's P&L is a spreadsheet project."
"Auditors ask for support and we spend days finding it."
"Repair costs arrive uncoded, and somebody guesses."
Use cases
Which internal controls matter most in property accounting?
Six internal controls do most of the work in property accounting, and each is enforced by NetSuite features rather than by spreadsheets. Auditors usually test them directly, so it helps that the evidence for every one of them lives in the same NetSuite account as the transactions being audited.
Segregation of duties
NetSuite roles separate who edits leases, who approves vendor bills and who releases payments.
Approval workflows
Vendor bills, credits and write-offs route for approval by amount and property.
Lease change control
Rent changes and concessions are recorded on the lease with system notes, rather than as free-form journals.
Deposit reconciliation
Deposits held by tenant agree to the liability account every month.
Period locks
Closed periods prevent back-dated changes to rent, receipts or costs.
Audit trail
System notes show who changed each record and when. See audit trail and controls.
What is a property sub-ledger, and why does RIOO not need one?
A property sub-ledger is a separate record of tenant charges, receipts and deposits kept in a property system and summarised into the general ledger by journal. RIOO does not need one because tenant transactions are created directly as NetSuite invoices, payments and deposits, so the detail and the general ledger are the same records.
That has three practical effects for a controller. First, there is no summary journal to post or reverse, and no sync to monitor. Second, drill-down from a property P&L line goes straight to the invoice and the lease, in one system. Third, period close in NetSuite locks the property detail too, so nobody can change last month's rent roll after the books are closed.
How RIOO helps finance
Receivables you can trust today. Payments post to the tenant ledger and the GL as they're received, so aging is current.
Property P&L without a bridge. Income and expenses carry property, building and unit context from the source transaction.
Entity consolidation. Keep separate books per property entity and consolidate through NetSuite OneWorld.
Traceability for audit. Drill from a reported figure to the lease, invoice, payment or work order that created it.
Controls on spend. Three-way matching, duplicate detection and approval routing for vendor bills.
Less re-keying. Leases create charges and work orders carry costs, so finance doesn't retype operations.
Rent collection & payments →Property accounting →Multi-entity & OneWorld →Audit trail →Vendors & accounts payable →
The questions to ask any vendor
Where is the lease record maintained? Is there a separate operational database? Where is the rent invoice created? Is anything synchronized, and what happens when a sync fails? These questions separate a native architecture from a connected one. We're happy to answer them in your demo.
How it works
What does a five-day property close look like on RIOO?
A five-day property close on RIOO spends its time on review rather than reconciliation, because charges, receipts and vendor costs have already posted with property context during the month. The days are used to confirm accruals, review exceptions, run recoveries and consolidate, which most teams can schedule as a fixed calendar. Confirmtypical close timeline wording
- 01
Day 1: cut-off
Confirm the last receipts and vendor bills of the period are posted, and review unapplied cash.
- 02
Day 2: accruals and prepaid rent
Book utility and service accruals, and check rent received in advance.
- 03
Day 3: exceptions
Review deposits against the liability account, credit balances and overdue receivables by property.
- 04
Day 4: recoveries and straight-line rent
Update recovery estimates and straight-line adjustments for commercial leases.
- 05
Day 5: consolidate and report
Run eliminations and consolidation in NetSuite, lock the period and issue property and entity reports.
Why do property rent rolls and general ledgers disagree?
Property rent rolls and general ledgers disagree because they are usually produced by two systems that record the same events at different times and in different detail. Late syncs, manual adjustments made on one side only, concessions entered as journals and payments applied differently all create gaps that finance then reconciles line by line each month.
Most controllers know the symptoms: a receivables balance that differs from the delinquency report, deposits held that do not match the liability account, a property P&L that needs a bridge before it can go to an owner. The root cause is architectural rather than procedural, which is why tighter month-end checklists rarely fix it for long.
Compare
Which property finance reports can controllers run in NetSuite?
Controllers can run every core property finance report in NetSuite when RIOO is in place, because lease, unit and tenant fields sit on the same transactions as the GL accounts. Reports are standard NetSuite reports or saved searches filtered by property, so they share the same permissions and period locks as the rest of the books.
| Report | What it shows | How it is built |
|---|---|---|
| Rent roll | Units, tenants, rent, terms and balances | RIOO lease data with NetSuite balances |
| Aged receivables by property | Overdue balances by age band | NetSuite A/R aging with property filter |
| Property income statement | Income and expenses for one property or group | NetSuite financial report by segment |
| Budget versus actual | Variance by property and account | NetSuite budgets against actuals |
| Deposit liability | Deposits held by tenant, agreed to the GL | Saved search on deposit transactions |
| Recoveries | Recoverable cost versus amounts billed | Saved search on cost pools and recovery items |
| Consolidated results | All entities in one currency | NetSuite OneWorld consolidation |
Questions finance leaders ask us
"Will this create a second set of books?" No. RIOO works inside your NetSuite account, so property transactions are NetSuite transactions in your existing ledger.
"Can I still use my chart of accounts?" Yes. Property activity maps to your accounts, and property context is carried as dimensions. Confirmmapping approach
"Who controls posting rules?" Finance. Mappings and approval workflows are configured with your team during implementation.
"How does this affect the close?" Collections, charges and costs are already recorded with context as they happen, so close becomes review and adjustment rather than import and reconciliation.
In detail
Which finance rules differ by market for property portfolios?
Finance rules for property portfolios differ by market mainly in indirect tax, client money and reporting obligations. A controller with properties in several countries configures them per NetSuite subsidiary, using local tax codes, currencies and reports, while the property workflows in RIOO stay the same for every team.
United States
Sales tax rarely applies to residential rent, while vendor payments may need 1099 reporting, and third-party managers face state trust accounting rules.
USUSDSales tax1099Trust accounting01
United Kingdom
VAT applies to commercial rent where the landlord has opted to tax, and deposits and client money have protection rules. See UK deposit protection and client money.
UKGBPVATClient moneyDeposit protection02
Australia
GST at 10% applies to commercial rent, residential rent is input-taxed, and BAS reporting comes from NetSuite tax data. See RIOO in Australia.
AUAUDGSTBASInput-taxed03
Singapore
GST applies to commercial rent where the landlord is registered, and residential rent is generally exempt. See RIOO in Singapore.
SGSGDGSTExempt04
United Arab Emirates
VAT at 5% applies to commercial rent, most residential rent is exempt, and corporate tax now applies to many property businesses. See RIOO in the UAE.
AEAEDVATCorporate taxExempt05
Who is RIOO NOT the right finance platform for?
RIOO is not the right finance platform for organisations that do not run NetSuite and do not plan to. RIOO uses the NetSuite general ledger, subsidiaries and tax engine, so teams committed to another ERP would need a separate property sub-ledger. RIOO is also not fund administration software for investor waterfalls or capital accounts. Confirminvestor reporting scope
Finance teams that consolidate many non-property businesses can still use RIOO for the property subsidiaries, but should plan the NetSuite chart of accounts and segments with the whole group in mind, so property dimensions do not complicate reporting for the rest of the business.
How it works
Your month on RIOO
- 01
Throughout the month
leases, payments, bills and work orders post as they happen.
- 02
Exceptions surface early
mismatched invoices, partial payments and overdue balances.
- 03
At close
property P&Ls and receivables are already current, and the work is review, not reconstruction.
- 04
Consolidation
runs across entities in NetSuite.
- 05
What changes
What changes when finance leaders & controllers runs on NetSuite?
When finance leaders & controllers runs on NetSuite through RIOO, operational work and accounting stop being two separate jobs. Transactions post to the general ledger as they happen, reports use the same records as daily work, and controls come from NetSuite roles and approvals. The changes below are the ones teams usually notice first.
- A faster, calmer closePlaceholderapproved close-time improvement from a customer, if available
- Earlier visibilityof delinquency and cost overruns.
- Audit supportin clicks.
- One set of numbersfor operations and finance.
Measures to track after go-live
Agree baselines before implementation, then track: days to close, the number of manual journal entries, the reconciliation items per period, time spent on audit requests, and how quickly operational questions get answered. Placeholdercustomer results once verified
Talk to a specialist
See finance leaders & controllers on your own portfolio.
RIOO lets property operations post directly to your NetSuite general ledger, so finance stops rebuilding the month.
Does RIOO replace our GL?
No. RIOO does not replace your general ledger; it uses the NetSuite GL you already run. Property workflows such as rent billing, receipts, deposits, vendor bills and recoveries create NetSuite transactions directly, so property activity lands in your existing chart of accounts with property, building and unit context, and no second set of books exists.
How does RIOO handle depreciation?
RIOO handles depreciation through NetSuite Fixed Asset Management, where it is enabled in your NetSuite account. Buildings, improvements and major equipment are registered as fixed assets linked to properties, and FAM calculates and posts depreciation on the methods and lives you set. RIOO adds the property context, so depreciation reports by property and entity.
Can we consolidate across entities and currencies?
Yes. RIOO consolidates across entities and currencies through NetSuite OneWorld, which keeps each owning entity as a subsidiary with its own base currency and tax setup. Property transactions post to the right subsidiary, and NetSuite handles currency translation, intercompany eliminations and consolidated reporting at group level.
Can we budget by property?
Yes. Finance teams can budget by property, building and unit using NetSuite budgets, then compare actuals as they post from RIOO. Variance reports show income and expense lines by property each month, and forecasts can be updated as leases renew, vacancies change or capital projects move. See budgets and forecasting.
Can auditors get read-only access to RIOO data?
Yes. Because RIOO data lives in NetSuite, auditors can be given a read-only NetSuite role limited to the subsidiaries, records and periods they need. They can then drill from reported balances to invoices, payments, leases and vendor bills themselves, which usually reduces the number of support requests during fieldwork. Confirmauditor role guidance
Related
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