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Accounts Receivable Software

Accounts receivable (AR) software tracks money owed to you. AR software keeps receivables data current, accurate, and centralized, to help manage client payments and apply interest rates. This guide provides a practical how-to for selecting the right AR software to ensure full receivables collection with a minimum of time and expense investment.

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The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

What is Accounts Receivable Software?

Accounts receivable software manages customer debt collection.

Using the right AR software enables organizations to:

  • Decrease the labor costs associated with recording and collecting customer payments via improved automation and efficiency
  • Increase the percentage of owed receivables captured via standardization and refinement of collection best practices (set timetables for escalation of collections activities, alerts for late payments, etc)
  • Improve the percentage of owed receivables captured by making collections communication easier with integrated collections messaging and message templating
  • Make more cash available to the business by decreasing the average time customers take to pay

Key Features

Functionality Definition
AR records creation Creation of records to track customer payment obligations
Customer database management The customer database enables tracking of customer information such as name, contacts, preferred payment method, address, etc
Aging reports Aging reports allow users to report on AR records by the number of days they are outstanding
Records/account lookup and filtering The ease with which the AP database can be searched and filtered can affect the effectiveness of company bill collection efforts
Invoice creation Invoices will document information such as who is being billed, for what, when payment is due, what the terms for customer payment are, what payment methods are acceptable, cost breakdowns for items and services and tax, etc
Flexible interest & late fee application Interest terms specify how much the customer will be charged in late fees if payment is not prompt
Recurring billing support Allowing customers to set up recurring payment via ACH or other methods promotes higher collection rates and decreases the time spent collecting customer payments
Early payments discounts Support for early payment customer discounts can be an important part of a company’s value proposition for improving customer satisfaction and securing a competitive advantage
Dunning letter templates Dunning letters are collection letters; dunning letter templates can be used to reduce the amount of time spent by employees when collecting overdue customer balances
Billing/collection email integration The ability to create and send emails from an accounts receivable module can improve workflows and efficiency related to collection activity
Collection call scripts Providing employees with call scripts for collection calls can improve collection rates and ensure quality in a sensitive phase of customer relations
Collection escalations Features providing dynamic workflows for intensifying collection activities (including more frequent calls/mailings or involving more senior employees) can improve collection rates
Credit verification The ability to trigger credit checks and receive credit checks results within the AR module can improve the efficiency of the process and the management of related data

Accounts Receivables Software Improves Cash Flow

In any size or type of business cash is king. Successful operations place extreme care in managing cash flow. You need reliable methods for extending credit to credit worthy customers. You also need a way to keep close watch of unpaid customer invoices. Accounts receivable software is designed to help you manage customer credit and assure you’re paid on a timely basis. Since it’s these payments that fuel your business, it’s important to select the right software to record, manage, and track your receivables.

AR Software Yields Improved Customer Relations

Your accounts receivable module does more than just track receivables entries, though. It also provides you with an ongoing customer database. The master customer list stores individual customer records with contact info, addresses, terms, and other customer data. Each time you post a receivables entry it is associated back to a customer. Using sorting and filtering capabilities, you can easily identify customers in good standing or with late payments. With increased reporting ease you’ll be able to quickly update yourself with the information you need to make key business decisions.

Improve Your Customer Credit Management with Accounts Receivable Software

You may not think of it exactly in these terms, but accounts receivable is essentially a record of the short term credit you extend to your customers. Just like a bank making loans, you need to determine who is credit-worthy and who isn’t. You also need a set of processes in place to ensure the recovery of the credit you’ve issued. Most businesses bill with terms. Accounts receivable software allows you to apply these terms and perform interest calculations.You don’t need to pull multiple spreadsheets to figure out which payments are overdue and how much interest you should charge, when you have the right software in place.

Sharpen Your Understanding of Your Financial position

Understanding your current and projected cash positions enables you to make smart business decisions. Your accounts receivable software ensures the accuracy of the data upon which you’ll base those decisions.

  • Who owes you money?
  • How much money is owed?
  • What is your expected cash flow?

Accounts receivable software answers these and other critical questions about the income you receive from your clients.

Popular Accounts Receivable Software Products

Looking for great accounts receivable software options? Below you can check out a list of the products most commonly considered by others searching for accounts receivable software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • SYNDi Loan Manager by Indus Systems

    SYNDi Loan Manager manages loans with single or multiple investors. It is used primarily by Lenders, Lawyers, Mortgage Brokers and Syndicators. In a typical scenario, the user sets up investors, advances the loan amount to the borrower, receives...

  • Collections Management by Professional Advantage

    The more efficient your collections system, the greater your profit margin. Collections Management for Microsoft Dynamics GP has the processing power to improve cash flow, diminish collection time and reduce bad debt. ##Features &...

  • Sage Intacct by Intacct

    Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits of Intacct include: Automation of manual processes enabling faster delivery of accurate...

  • Centralized Receipting by Diamond Municipal Solutions

    This module allows complete point of sale customer payments, quickly and accurately as well as access to customer inquiry screens from within the Cash Receipts window. It also integrates into MBS Great Plains General Ledger, Bank Reconciliation and...

  • Binary Stream Billing and Revenue by Binary Stream Software

    Binary Stream’s billing and revenue recognition suite is an end-to-end solution designed to handle any complex billing scenario you can throw at it while ensuring that the accounting of any revenue and expense deferrals is done quickly and...

  • eInvoicing by Enliven Software

    Automates invoice/statement delivery and customer payment via email, fax or US Mail. Send invoices electronically to your customers and let your customers determine how they would like to receive them. Outsource your electronic invoice...

  • Acumatica ERP by Acumatica

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  • Bill.com by Bill.com

    Bill.com is specifically designed to automate the most tedious operations of any small business: Payables and Receivables. The web-based nature of Bill.com will enable you to work on your financials from anywhere in the world, at any point in time....

  • Anytime Collect by e2b anytime apps

    Anytime Collect is a cloud-based accounts receivable collections management system integrated to popular accounting systems from leading publishers such as Intuit, Sage Software, Epicor, and more. Anytime Collect enables finance professionals to...

  • HighJump Collect for GP by Accellos

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  • NetSuite ERP by NetSuite

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  • Loans Management by Binary Stream Software

    Streamline Scheduled Loan Payments in Microsoft Dynamics GP The Loans Management program was designed specifically for Microsoft Dynamics GP users who need a solution to manage multiple AR transactions related to leasing or loan...

  • SYNDi Mortgage Manager by Indus Systems

    SYNDi manages mortgages and other loans in cases where an investor or a group of investors lends money for a loan. It is used primarily by Mortgage Brokers and Syndicators. In a typical scenario, the company sets up the syndicate, advances the...

  • WorkflowAR by WorkflowAR

    WorkflowAR is a cost effective software solution designed by receivable professionals for receivable professionals to achieve your Credit and Accounts Receivable objectives. With a comprehensive suite of Analytical and Automated features, WorkflowAR...

  • Dynamics GP by Microsoft

    Microsoft Dynamics GP is an ERP solution designed for small and mid-market businesses. Key capabilities of Dynamics GP include: Financial management and accounting Inventory management and...

  • Portfolio Debt Manager by SkiCat Enterprises, Software Development

    SkiCat Enterprises, LLC, a software development company, has invented a new and revolutionary loan management software solution called Portfolio Debt Manager, portfolioDM. PortfolioDM is a complete loan management system for borrowers that...

  • Sage Billing Boss by Sage

    Sage Payment Solutions enables you to conveniently process credit card payments right in your Billing Boss! This Sage merchant account services program offers affordable credit card services specifically tailored for businesses. Now you can easily...

  • Invoice Patrol by cghSoftware

    Invoice Patrol. It is an invoice monitoring service that: Tracks invoices against due dates Automatic email notification by customizable templates alerts holders of outstanding invoices by email Generates activity reports...

  • TRAVERSE by Open Systems

    TRAVERSE is an ERP system from Open Systems, Inc. offering financial, operations, and sales functionality. Traverse provides comprehensive integration for key business processes, while offering the ability to scale from 5 to 500 users....

  • Orienge Financial Information Management by Orienge

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  • FinancialForce Billing by FinancialForce.com

    Create invoices in one click straight from CRM or any object! Get invoices out quickly and accurately without re-keying, spreadsheets or special integrations. FinancialForce Billing works with FinancialForce Accounting or your ERP system of...

  • SimplicityCollect by SeikoSoft Inc

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  • SAP Business One by SAP

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  • Lariat by Lariat Software

    Lariat provides superior software solutions for the debt collection industry. We service all types of agencies including commercial, healthcare, debt purchasers, retail and collection departments in corporations. ## Lariat Standard Features...

  • eCollections by Sentinel Development Solutions

    eCollections™ is a complete enterprise debt collection software solution that manages and optimizes the entire collection process. The most powerful and flexible solution available, eCollections™ employs leading-edge technologies and unmatched...

  • EZ Collector by EZ Soft

    EZ COLLECTOR offers all the features, flexibility, and sophistication of mainframe packages at an affordable price. ## EZ Collector Offers: Full Trust Accounting: EZ COLLECTOR™ maintains an up-to-date trust account. It handles debtors...

  • Sage 300 by Sage

    Sage 300 is a business management software solution designed for small and medium-sized businesses. Critical program functionality includes support for accounting, sales, service, purchasing, and inventory management tasks. Sage 300 helps...

  • Wincollect by CollectTech Solutions

    Wincollect is designed specifically to answer the needs of the Receivables Management industry both large and small throughout the world: Collection Agencies Finance Companies Retail Firms Government Departments Law Firms...

  • CollectMax by JST

    CollectMax advanced collections software from JST provides the solutions you need as your firm grows, as your client base shifts, as compliance requirements change. Used by hundreds of collection law firms nationwide, CollectMax delivers flexible,...

  • CollectOne by CDS Software

    CollectOne is an award-winning, single source debt collection solution that provides a feature-rich set of automated business processes designed to minimize costs and maximize results. CollectOne provides you with the flexibility to manage...

  • Executive Series by Searer Business Technology

    Executive Series Executive Series is a completely integrated accounting solution with strong drill down capabilities. Executive Series is fully customizable through source code to meet the unique needs of your company. Standard features...

  • OmniInvoice by DefendGate

    Designed for today's small to medium sized business OmniInvoice will manage your invoicing process from beginning to end. A comprehensive invoicing solution, OmniInvoice will also help you manage estimates, credit memos, sales receipts, packing...

  • Sales Analysis Professional by In4Arch

    Sales Analysis Professional is designed to help small and mid-sized firms, in the financial services, group benefits, and insurance brokerage sectors, automate the life cycle of receiving commission revenue and distributing incentive payments....

  • D‑BIT Billing (& Invoicing) by D-BIT Systems

    D-BIT Billing (& Invoicing) is a comprehensive tool for the routine billing and invoicing of goods and services on a contractual basis. The system can use different billing frequencies for different charges within the contract period. These charges...

  • Financial Edge NXT by Blackbaud

    Financial Edge NXT is the first-of-its-kind cloud accounting solution that’s intuitive, reliable, and built exclusively for non-profits. It is advanced technology with powerful reporting tools to help your accounting team drive efficiency,...

  • Quotes N Sales Reporter by Swagman Systems

    Quotes N Sales Report helps you by improving the information quickly available to track your sales and manage your leads. This is a simple add on product that helps you search for quotes and sales orders inside Simply Accounting. This program...

  • Optigold ISP 3.3 by Digital Point Solutions

    If you are a dial up ISP, web hosting provider Optigold is your complete billing and commission tracking solution provider. Digital Point Solutions also provides you with support and software upgrades for life, at no additional fee. In addition to...

  • Easy Card Processing by Ansin Technology Group

    Easy Card Processing is your complete solution to accepting customer credit card payments. The system is designed to integrate with Sage BusinessWorks to automate credit card processing, and bill cards with a single click. This system will...

  • BUSINESS by Miles by Miles Technologies

    BUSINESS by Miles, the most affordable ERP system in the world, is designed to help companies of any size and industry. Their current user platforms range from 500+ workers to only four employees. This cloud-based enterprise resource planning (ERP)...

  • Ariba Invoice & Payment by Ariba

    In today's tightening economy, cash is king. Unfortunately, labor-intensive invoicing and payment procedures and poor visibility into purchases and commitments have kept many companies from optimizing their cash flows. Ariba Invoice and Payment...

  • WebAR by InterProse

    WebAR is an SAAS/SOA/ASP Internet based multi-function accounts receivable management platform and collection system designed for multiple industries: collection agencies, healthcare providers, retailers, government agencies, utility companies,...

  • Invoice2go by Invoice2go

    Invoice2go is the ready-to-go software for creating invoices, purchase orders, quotes and all types of business documents. If you have ever used a complex accounting program you will know how time consuming and frustrating they are to understand....

  • R4 Enterprise by Royal 4 Systems

    As a Total Solution, R4 financials complete your operation. R4 back office financials delivers a multi-entity, multi-currency and multi-lingual enterprise resource planning system. This system fully integrates AR, AP, GL, and other financial...

  • ST Invoice by Solve Technology

    ST Invoice is a complete invoicing solution, which combines the mobility and flexibility of the Pocket PC with the power and accessibility of the internet. ST Invoice allows users to create invoices and estimates in multiple environments, from the...

  • Masterware Billing Master by Masterware

    Keep your Quickbooks® and add Masterware Billing Master to take your business to new levels of Performance and Profitability If you are currently using Quickbooks®, our Billing Master integrates directly with it. This means you can...

  • RC‑ Revolving Charge by Accounting Technology, LLC

    Revolving Charge is an accounts receivable application that will accept transactions, maintain accounts, calculate current receivables for most receivables terms, produce statements, and generate reports reflecting current balances of accounts....

  • xTuple by xTuple

    Use xTuple on-the-go, anytime, anywhere. xTuple’s multi-client approach empowers customers to leverage today's — and tomorrow's — technology, especially employee preferences to BYOD (bring your own device). Users may access xTuple via our...

  • Invoiceberry by Invoiceberry

    Invoiceberry offers a web-based invoicing and quoting software to send invoices, quotes and invoice reminders. The simple and fast web-based software was especially designed with small business owners and freelancers in mind. Key...

  • ImagineConduit by ImagineSoftware

    ICD-9 ICD-10 Transition ImagineConduit™ is a revolutionary application designed to help further prepare users for the scheduled October 1, 2015 switch to ICD-10 diagnosis codes by creating a crosswalk for converting electronic 837 claim files...

  • Invoice Delivery by TermSync

    TermSync’s automated invoice delivery solution powered by Esker allows companies to completely automate the archiving and sending of invoices in the formats your customers prefer. By eliminating the time and investment involved with manual...

Your Accounts Receivable Software Recommendations

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