Accounts Receivable Software

Get the best accounts receivable software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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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…
Starting Price
$5,000/user (one time)
Platforms
Windows
Deployment
Locally Installed
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…
Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits include: Automation of manual processes enabling faster delivery of…
Price Range
$ $ · · ·
Starting Price
$400/month/user
Platforms
Web
Deployment
Hosted (cloud-based)
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…
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…
Platforms
Windows
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…
Platforms
Web
Deployment
Hosted (cloud-based)
Acumatica is a cloud ERP system designed for the SMB market. Acumatica includes functionality for financial management, customer management, project accounting, distribution management, manufacturing management, field service…
Price Range
$ $ $ $ ·
Starting Price
$12,800/year
Platforms
Web, Windows
Deployment
Hosted or Local
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…
Platforms
Web
Deployment
Hosted (cloud-based)
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…
Price Range
$ $ $ · ·
Starting Price
$60/month/user
Platforms
Web
Deployment
Hosted (cloud-based)
Collect for GP gives you a complete set of tools needed to automate data collection in your warehouse. This information can then be used in for reporting purposes. HighJump Collect for GP is just another member in a family of…
Platforms
Windows
NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as “the world’s most deployed cloud ERP” solution. NetSuite…
Price Range
$ $ $ $ ·
Starting Price
$99/month/user
Platforms
Web
Deployment
Hosted (cloud-based)
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 activities . Binary Stream’s Loans Management is fully…
Platforms
Windows
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…
Platforms
Windows
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…
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
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 operations; Sales and service…
Price Range
$ $ $ · ·
Starting Price
$65/month/user
Platforms
Web, Windows
Deployment
Hosted or Local
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…
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…
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 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…
Price Range
$ $ $ $ ·
Starting Price
$1,200/user (one time)
Platforms
Web, Windows
Deployment
Hosted or Local
This invoices software allows organizations to streamline business processes related to accounts and invoices, from document capture to the final payment. Organizations also benefit from improved invoice visibility and…

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Accounts Receivable Software Buyer’s Guide

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.

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.