Reviews and corrects ledger-to-subledger alignment in D365 by fixing posting configurations, inventory profiles, reconciliation logic, GL mapping, and critical reporting procedures.
Managing Your Accounts Receivable in NetSuite
Posted on: April 30, 2025 | By: Page Wildridge | NetSuite
NetSuite is a powerful, cloud-based ERP for businesses looking to streamline their processes across all their work. The ERP’s finance module is fully equipped to automate and manage core accounting functions while providing real-time visibility into financial performance. NetSuite Accounts Receivable is a cloud-based solution that automates and manages the entire AR lifecycle—from invoice generation to payment collection and reporting. It enables businesses to efficiently generate and send invoices, define credit terms, manage collections, and gain real-time visibility into receivables. In this blog, we will cover the key features of NetSuite’s Accounts Receivable software.
1. Invoice Grouping
To streamline billing, NetSuite allows grouping multiple invoices into a single consolidated invoice when customers place multiple orders within a billing period. This feature simplifies the payment process for customers and accelerates collections.
2. Automated Invoicing for Accounts Receivable
NetSuite automates the invoicing process by converting sales orders into invoices as orders are fulfilled. It supports customizable invoice templates to meet unique billing needs and offers multiple delivery methods, including email and electronic formats. The system also calculates taxes accurately and posts transactions to the general ledger automatically, reducing manual data entry and errors.
3. Dunning and Collections
The software automates the dunning process by sending reminders in multiple languages and currencies before or after payment is due. This proactive approach helps reduce days sales outstanding (DSO) while maintaining positive customer relationships.
4. Payment Management
NetSuite supports various payment methods, including cash, credit card, check, bank transfer, and electronic funds transfer (EFT). It automatically matches customer payments to open invoices and manages refunds with ease. The Payment Link feature adds a “pay now” option on electronic and printed invoices, facilitating quicker payments.
5. Real Time Reporting and Dashboards
NetSuite provides configurable AR reports and role-based dashboards that offer real-time insights into key metrics such as AR aging, DSO, and payment history. These tools enable finance teams to monitor receivables effectively and identify customers who routinely pay late, improving collections forecasts.
Next Steps
Logan Consulting is a proud partner of NetSuite. To learn about the unique advantages of the ERP software that we work with, click here to learn more. Contact us today about your ERP options.
