Are you tired of managing payments manually? Look no further than Accounts Receivable software. This powerful tool helps businesses easily manage customer payments and outstanding balances. 

Say goodbye to the hassle of creating invoices, tracking payments, and chasing down overdue balances. Accounts Receivable software automates the entire process, ensuring you get paid on time and can stay on top of your cash flow. 

This article examines the 11 best accounts receivable software, including its features, plans, user reviews, and benefits.

Before checking the best account receivable software, let’s see what account receivable software actually is. So, without any delay, let’s jump in:

What is Accounts Receivable Software?

Accounts Receivable software helps businesses manage customer payments and outstanding balances. It allows companies to create invoices, track payments, and automate collections, making receiving payments more efficient and effective.

With Accounts Receivable Software, businesses can manage their cash flow and ensure they are paid on time.

Let’s list some of the best accounts receivable software:

List of the Best Accounts Receivable Software

Now that we know what accounts receivable software is and how it enhances business, we will provide you with a list of some of the best accounts receivable software so you can easily choose the best one for your business.

Let’s dive into it:

1. Quickbooks Online

QuickBooks Online is a cloud-based accounting software with an Accounts Receivable feature to help manage your customers’ outstanding payments. You can create invoices, track payments, and send reminders. It also offers customisable invoice templates, recurring invoices, and an intuitive dashboard to track expenses and manage cash flow.

quickbooks Best Accounts Receivable Software

Quickbooks online offers a wide range of features for its users; some of them are:

Features

  • Invoicing: Quickbooks online allows you to create custom invoices for your customers and send them via email or print them out.
  • Reminder Emails: You can send automated reminder emails to customers with Quickbooks online with outstanding balances.
  • Cash Flow Management: Manage your cash flow by viewing upcoming invoices and payments online with QuickBooks Online.

Plans and Price 

Simple StartEssentialsPlus
$15/month$30/month$45/month
Connect 1 sales channelsConnect 3 sales channelsConnect all sales channels

Users Review 

Check out the user reviews mentioned below, which are taken from the Software Connect website.

  • This review describes its features and the feeling they got by experiencing relaxation from daily manual tasks.
  • They mentioned about their retail work and manual hassles also.
  • This review discusses the efficiency of the Payroll feature, which helps employees auto-pay and track payroll.
  • Also, it talks about one of the drawbacks, like the lack of features.

2. NetSuite

NetSuite is a cloud-based ERP software that offers an Accounts Receivable feature to help you manage your customers’ outstanding payments. Its AR module enables you to create and manage customer invoices, track payments, and automate collections. It also offers customisable invoice templates, automated credit applications, and an intuitive dashboard to track expenses and manage cash flow.

netsuite Best Accounts Receivable Software

NetSuite offers a range of features for its users, some of them are:

Features

  • Invoice generation and distribution: NetSuite allows you to create custom templates that automatically generate invoices and send them to customers.
  • Accounts receivable dashboard: Netsuite’s role-based dashboards can be personalised with reminders and links to commonly used actions and reports.
  • Payment management: NetSuite offers multiple [payment options and manages them efficiently to speed up collections.
  • Customer records: NetSuite maintains accurate customer data, including contacts, transaction history, items purchased, and more.

Plans and Price:

Netsuite’s pricing is not visible on its official website. Users who want to know about plans can contact its sales team.

Users Review

We’re going to some of the user reviews of NetSuite below:

The reviews mentioned below are from the Software Connect website.

  • It talks about the ERP parting and the excellence in presentation
  • Also, it talks about NetSuite’s cost-prohibitive nature.
  • The pricing is very high. 
  • But it is also a good solution.

3. Quicken

Quicken is a personal finance software that also offers an Accounts Receivable feature to help small businesses manage their customer payments. With Quicken, you can create and send invoices, track payments, and manage your cash flow. It also offers customisable invoice templates, recurring invoices, and detailed reports to help you stay on top of your finances.

quicken Best Accounts Receivable Software

Quicken offers the following features for its users:

Features

  • Invoicing: Quicken allows you to create and send professional-looking invoices to your customers.
  • Payment tracking: Track and monitor your cash flow with customisable reports and alerts.
  • Recurring invoices: Set up recurring invoices for regular payments and save time on manual tasks.
  • Mobile app: Access your invoices and customer information on the go with the Quicken mobile app.

Plans and Price

Quicken simplifyQuicken classicQuicken classic, business and personal
$2/month$4/month$5/month
Best for mint and karma switchers.Best-in-class investing toolsOptimise for taxes

Users Review

The below-mentioned reviews are some of the actual user reviews taken from  the Software Advice website.

  • This review is telling about the excellence of their program.
  • This review says that it allows you to backup in the cloud and your computer.

4. FreshBooks

FreshBooks is one of the best accounts receivable software that helps you manage your customers’ outstanding payments. With FreshBooks, you can create invoices, track payments, and send reminders. It also offers customisable invoice templates, recurring invoices, and an intuitive dashboard to track expenses and manage cash flow.

FreshBooks Best Accounts Receivable Software

Some of the notable features of FreshBooks are:

Features

  • Invoicing: FreshBooks allows you to create professional-looking invoices for your customers and send them via email or print them out.
  • Automated Reminders: You can send automated reminder emails to customers with outstanding balances with FreshBooks.
  • Time Tracking: FreshBooks allows you to track time spent on projects and bill clients accordingly.
  • Expense Management: You can easily track expenses with FreshBooks and attach receipts to invoices for reimbursement.

Plans and Price

Lite Plus Premium 
$15/month$25/month$50/month
Send unlimited invoices to up to 5 clientsSend unlimited invoices to up to 50 clientsSend unlimited invoices to unlimited clients

Users Review

Let’s see some of the user reviews of FreshBooks, and reviews are from the Software Connect website.

  • It says that with Freshbooks, users can choose their clients from your rundown.
  • Also, users can include customised notes of the receipt in mail.
  • It explains about  its user-friendly platform. 
  • And the outstanding invoices and 30-day free trial.

5. Chaser

Chaser is cloud-based accounts receivable software designed to help businesses automate and streamline their invoice-chasing process. It offers a range of features to help enterprises stay on top of their outstanding payments and improve their cash flow. With Chaser, businesses can create personalised chasing emails, schedule automatic reminders, and track their progress in real time.

Chaser Best Accounts Receivable Software

 Chaser offers the first 10 days of free trials for new users, and it provides a wide range of features; some of the significant features of Chaser are:

Features

  • Automated chasing: Chaser automates the invoice chasing process by sending personalised chasing emails to customers on a schedule set by the user.
  • Real-time tracking: Chaser provides real-time updates on the status of invoices and payments, helping businesses manage their cash flow.
  • Customisable templates: Businesses can customise their chasing emails with their own branding and messaging to ensure they reflect their business values and tone of voice.
  • Collaboration: Chaser provides a platform for businesses to collaborate with their team members and external stakeholders on invoice-chasing activities.

Plans and Pricing

Basic StandardEnterprise
$50/month$140/month$400/month
50 invoices per month150 invoices per month400 invoices per month

User Reviews

The below-mentioned reviews are from Capterra; check it out:

  • This review discusses the monthly statements, saving time in manual work and customer satisfaction.
  • And it mentioned it as a good company.
  • This review talks about Chaser’s backup feature and history saving.

6. Wave Accounting

Wave accounting is an all-in-one accounting software that includes an account receivable feature. It is designed to manage your customers’ outstanding payments efficiently. With Wave, you can effortlessly create and send professional invoices, track payments, and receive automatic reminders when payments are due. It also helps track expenses and manage cash flow. 

Wave Accounting Best Accounts Receivable Software

Wave Accounting is free to use, with no hidden fees or charges; some of the notable features of Wave Accounting can be listed as:

Features

  • Recurring invoices: Set up recurring invoices for regular payments and save time on manual tasks.
  • Payment options: Wave offers multiple payment options for your customers, including credit card payments and bank transfers.
  • Mobile app: Access your invoices and customer information on the go with the Wave mobile app.
  • Invoicing: Wave allows you to create and send custom invoices to your customers. You can add your logo, payment terms, and more.

Plans and Price

Starter planPro plan
Free$16/month
Options to accept online paymentsAutomatic bank transactions

Users Review

The reviews below are from the Trust Radius website:

  • It talks about the profitability they got from Wave Accounting.
  • The reports help them to make it easy to categorise multiple transaction histories.
  • This review explains the invoicing function and the easy-to-use customisation of Wave Accounting.

7. Melio

Melio is cloud-based accounts receivable software that helps small businesses manage customer payments. It allows you to create and send professional-looking invoices, track payments, and save time on tasks. It also helps you track expenses and manage cash flow with customisable invoice templates, recurring invoices, and an intuitive dashboard.

Melio Best Accounts Receivable Software

Melio offers a wide range of features. It also provides a free plan; some of the notable features are:

Features

  • Payment tracking: Track and monitor your cash flow with real-time updates and alerts.
  • Recurring invoices: Set up recurring invoices for regular payments and save time on manual tasks.
  • Vendor payments: Melio provides you with a vendor payment feature to  Pay vendors and suppliers electronically with no transaction fees.
  • Bank transfers: Melio offers a simple bank transfer method for instantly and securely transferring funds between accounts.

Plans and Price

Users can contact Melio through their official website for detailed prices and plans.

Users Review

The above-shown reviews are from the Trust Pilot website.

  • It explains about the bill pay option, and it explains about QBO.
  • It says about the good customer services of Melio.

8. Flywire

Flywire is a global payment platform that offers an Accounts Receivable feature to help businesses manage their customer payments. This feature enables businesses to streamline payment collection processes, create and send invoices, track payments, and provide customers with convenient payment options. Also, Flywire’s global reach allows businesses to manage international receivables efficiently.

Flywire Best Accounts Receivable Software

Here are some of the features of Flywire:

Features

  • Multi-currency support: Flywire supports payments in over 240 countries and territories, with over 150 currencies available.
  • Customisable payment options: You can choose from various payment options, including credit cards, bank transfers, and e-wallets.
  • Integrations: Flywire integrates with various accounting and ERP systems, including QuickBooks, NetSuite, and Salesforce.
  • Invoicing: Flywire allows you to create and send professional-looking invoices to your customers with customisable templates and automatic payment reminders.

Plans and Price

Users can contact Flywire through their official website for detailed plans and prices.

User Reviews

Let’s list some user reviews of Flywire below; reviews are taken from the Trustpilot website.

  • This review shares the good experience with Flywire.
  • It says about the experience and refundability of flywire in 3 days.

9. Sage Intacct

Sage Intacct is cloud-based accounting software that offers powerful accounts receivable features to help businesses manage customer payments efficiently. Its AR module enables you to create and manage customer invoices, track payments, and automate collections. This industry-leading software offers complete financial stability and control.

Sage Intacct Best Accounts Receivable Software

Let’s see some of the notable features of Sage Intacct’s Accounts Receivable module:

Features

  • Payment processing: You can process payments via various methods, including credit card, ACH, and wire transfers. Sage Intacct also supports automatic payment matching and bank reconciliation.
  • Dunning management: Sage Intacct offers automated dunning workflows to help you manage customer collections effectively.
  • Revenue recognition: Sage Intacct’s revenue recognition feature ensures that your revenue is recognised in accordance with ASC 606 and IFRS 15 accounting standards.
  • Multi-currency support: Sage Intacct supports multiple currencies, enabling you to manage international transactions easily.

Plans and Pricing

Users can contact Sage Intacct through their official website for detailed plans and pricing information.

Users Reviews

 See some of the reviews are, taken from the Trust Radius website.

  • Its search abilities are really easy.
  • It is not suited for pulling P&Q dates without having special reporting.
  • It is suitable for small or growing businesses that want an easy, quick, and functional system to keep track of.
  • Users can get better customer satisfaction with it.

10. Celonis


Celonis is a process mining software that offers an Accounts Receivable feature to help you manage your customers’ outstanding payments. With Celonis, you can monitor your cash flow, identify bottlenecks in your invoice-to-cash process, and automate collections. It also offers real-time insights and customisable dashboards to track payments and manage your AR performance.

Celonis Best Accounts Receivable Software

Check out some features of Celonis below:

Features

  • Process Mining: Celonis uses process mining to analyse your AR processes and identify areas for improvement.
  • Automation: Automate your collections process with Celonis by setting up rules and triggers for payment reminders and follow-ups.
  • Real-time insights: Get real-time insights into your AR performance with customisable dashboards and reports.
  • Customer records: Celonis maintains accurate customer data, including contacts, transaction history, items purchased, and more.

Plans and Price

Users can contact Celonis through their official website for detailed plans and prices.

Users Review

The reviews below are from the Trust Radius  Website.

  • It is well suited for both kinds of processes and is suitable for discovering the actual processes and the variants one can find.
  • It is good for analysing historical data and root causes of inefficiencies.

11. Fundbox

Fundbox is one of the best accounts receivable software. It is known for its embedded working capital in small businesses and provides management solutions to help them optimise cash flow. It offers a unique approach to accounts receivable management by providing cash advances against outstanding invoices. It allows you to easily import your invoices and receive funding within hours.

Fundbox Best Accounts Receivable Software

Features of Fundbox can be listed as: 

Features

  • Fast Funding: With Fundbox, you can receive funding for outstanding invoices within hours of approval.
  • Easy Application: Sign up in minutes, connect your accounting software, and get a credit decision within seconds.
  • Flexible Funding: Fundbox allows you to choose which invoices to fund and repay on your own schedule.
  • No Hidden Fees: Fundbox offers transparent pricing with no origination fees, maintenance fees, or prepayment penalties.

Plans and Pricing

Plan#1Plan#2
Week 1-4Week 5-12
$130.83$130.83

Users Review

Check out the reviews of Fundbox from Trustpilot.

  • It says that Fundbox provides the best products for small businesses.
  • It tells about the user-friendly interface, customer service excellence, etc.
  • It is really helpful and flexible in all of the interactions.

Key Features to Look for Accounts Receivable Software

While selecting an account receivable software, we need to consider so many features, some of which we can list below;

Cash flow management

Choose software that provides proper cash flow management. Look for automated invoicing, payment tracking, customisable reminders, payment portals, and a simplified collection process.

Digital B2B payments

When looking for accounts receivable software for digital B2B payments, consider several key features, such as Payment Processing, Invoice Management, Automated Collections, Reporting, etc.

Automated credit applications

Automated credit applications will help streamline the credit management process and enhance the financial process. Here, you should look for automated credit scoring, risk management tools, integrations with credit bureaus, etc. 

Invoice generation and distribution

If the software focuses on invoice generation and distribution, it should have features like automated invoice creation, delivery, customisable templates, payment management, credit tracking, etc. 

Automated cash application

Software with an automated cash application should have features like invoice automation, linking remittance and payment data, linking payment data to invoices, and cash flow management. These features will help streamline the cash application process.

Automated collections emails

Account receivable software has automated collection emails that should have features like automated data verification, robust data verification, automated tracking, billing portal, Prioritised worklists, etc. 

What is the benefit of Accounts Receivable Software?

Accounts Receivable Software offers many benefits that can help businesses efficiently manage their customers’ outstanding payments. Some of the benefits of account receivable software are:

Standardised processes.

With accounts receivable software, your business will get a standardised process. This means it helps to enhance efficiency, minimises the costs related to invoicing and collections, improves cash flow, and provides security for your privacy and data. It enables a robust financial structure and enables companies to manage their receivables effectively.

Improved speed and efficiency

one of the main benefits of using accounts receivable software is improved speed and efficiency. With features like automated invoicing, payment tracking, and reminders, the software can help save time and reduce the workload of manual tasks. It also provides real-time insights into your cash flow, which can help you make informed decisions and improve your overall financial management.

Reduction in human error

One significant benefit of using Accounts Receivable Software is the reduction in human error. With automated invoicing and tracking systems, the chances of errors such as missed payments, incorrect billing, or incorrect data entry are significantly reduced. This saves time and helps maintain accurate financial records, leading to better financial management.

Reduced Costs and Faster Cash Flow

Account receivable software benefits include reduced costs and faster cash flow. Automating invoice generation, payment reminders, and collection minimises the need for manual labour, which in turn reduces costs and saves time. This helps businesses maintain a healthy financial position and avoid cash flow issues.

Enhanced dashboards

Another benefit of Accounts Receivable Software is enhanced dashboards. The software provides an intuitive dashboard that offers real-time insights into the business’s financial performance. These dashboards enable enterprises to track and manage their accounts receivable efficiently and monitor cash flow.

Advanced security and compliance

Another benefit of Accounts Receivable Software is advanced security and compliance. The software offers robust security features such as firewalls, encryption, and data backup, ensuring that sensitive financial information remains secure. Additionally, the software complies with industry standards and regulations, such as PCI-DSS, SOX, and HIPAA, ensuring that businesses meet legal requirements and avoid penalties.

Access to real-time data

Account receivable software provides the benefit of accessing real-time data, allowing businesses to have immediate insights into their financial status, outstanding balances, and payment trends. This facilitates informed decision-making and proactive cash flow management.

FAQs

What is AP AR software?

AP AR software refers to integrated solutions to streamline a business’s accounts payable (AP) and accounts receivable (AR) processes.

Why are accounts receivable used?

Account receivable is a tool that allows businesses to extend a line of credit to their customers. It helps increase sales and improve customer relationships.

Are there any Accounts Receivable Software?

Quickbooks Online, Netsuite, Melio, etc. like this so many account receivable software are available. 

Is there any free trial available?

Several accounts receivable software programs, such as Invoiced and Azava, offer free trials, so check out their official websites to learn more.

What are the 5 KPIs for accounts receivable?

The 5KPIs are referred to as Average days delinquent, Days sales outstanding (DSO), Percentage of current accounts receivable, Collections effectiveness index (CEI), and operational cost per collection.

Conclusion

This article reviewed the 11 best accounts receivable software, including its features, plans, and reviews. Don’t waste time managing payments; let the software do the rest!

We suggest that you carefully evaluate each software’s features and choose the one that best meets your business needs. This will enhance your business operations and streamline your payment processes.

We sincerely hope this article helps you by giving you enough knowledge about Accounts Receivable software.

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Last Update: May 27, 2024