Best Accounts Receivable Software for 2021

The best accounts receivable software automates your invoicing and collections processes to get you paid faster.
Randa KrissJul 27, 2021

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Accounts receivable software can help you track invoices and collect the money that customers owe your business. The best options will help you streamline and automate these processes, allowing you to get paid faster and better manage cash flow.

Although some solutions like include tools to help you manage accounts receivable, dedicated accounts receivable platforms can offer a greater level of control and automation — working in sync with accounting software — and hopefully, save you time and money.

Here are NerdWallet’s picks for the best accounts receivable software for small businesses.

Best for reporting and analytics, integrations: 

Best for robust features:

Best for bundling receivables and payables: 

Best for low-cost, unlimited users: 

Best for free option: 

Price: Quote only.



Why we like it: YayPay offers an advanced accounts receivables management platform with impressive automation tools. The software includes a detailed business intelligence dashboard with data and analytics that can be used to monitor your financial health and drive future decisions.

YayPay provides a thorough communication history section to manage relationships with your customers in one place. In addition, YayPay works with credit rating partners to monitor your customers’ creditworthiness in real time, a useful feature to help set your payment terms and .

Also, YayPay integrates with a variety of popular accounting and billing software systems, as well as uses API to pull data from your other software (even if they don’t have direct integrations) so you can manage everything within the YayPay account.

YayPay is available with quote-pricing only, however, which may be a hang-up for some small businesses.

Price: Starts at $500 per month, when billed annually.



Why we like it: Invoiced includes a wide range of functionality within its platform. With this software, you receive advanced tools for collections, customer management, payment plans and even API access. Invoiced integrates with , as well as other business tools, and offers thorough customer support options.

Although pricing starts at $500 per month, you can work with the Invoiced sales team to customize the software to your needs, and costs can vary depending on usage volume and included features.

This price threshold may be high for some smaller businesses; however, Invoiced offers a slimmed-down version (as well as a free trial) — Invoiced Lite — for $15 per month. With Invoiced Lite, you can create and send invoices, add 25 customers and two users, send automated invoice reminders and use Invoiced Payments for credit cards and ACH payments. You'll receive email support only and accounting integrations aren't included, although you do have API access.

Price: $39 per user per month to $69 per user per month. Custom pricing available for Enterprise level plans.



Why we like it: is a user-friendly platform with competitive pricing, especially for small businesses that don’t need an enterprise-level solution. With, you have access to the essential features you need to streamline accounts payable: invoice tracking, automatic payment reminders and a customer payment portal. also allows you to communicate with customers directly through its system, set up auto-charge and auto-pay, as well as sync received payments directly with your accounting software to eliminate data entry errors and make reconciliation easier.

Additionally, is a great option for businesses that want to bundle accounts receivable software and offering a dual solution starting at $69 per user per month.

In July 2021, signed an agreement to acquire Invoice2Go, an accounts receivable platform that specializes in invoicing and payments for small businesses and freelancers. Although the agreement hasn't been finalized, the acquisition suggests an expansion in’s accounts receivable software in the future.

Price: $25 per month (plus 10 free domestic payments each month).



Why we like it: Plooto is a low-cost choice for small businesses that already have but want a dedicated solution to optimize the collection and payments process. For $25 per month, Plooto is more affordable than some other options, especially considering the software includes unlimited users, customers and suppliers, plus accounts payable features in addition to accounts receivable.

Like many accounts receivable platforms, you can connect your accounting software (QuickBooks and Xero only) to Plooto to import invoices and perform automatic reconciliation. In addition, Plooto allows you to set up automatic payment collection with your customers, handling the pre-authorized debit process on your behalf. You receive 10 free domestic bank payments per month and are charged 50 cents per transaction after that.

Unlike competitors, however, Plooto cannot accept online credit card payments, which may be a deal-breaker for some businesses.

Price: $0 per month.



Why we like it: Competitors may offer more advanced tools and automation, but it’s hard to compete with Melio’s price tag. This free accounts receivable software has no monthly fees, no fees to send or accept ACH transfers and doesn’t charge to send checks. In addition, it includes unlimited companies, clients and users — and, even though there is a 2.9% transaction fee for credit card payments (normally charged to your customers), Melio gives you the option to pay that fee on your customers’ behalf.

With the simplicity of this platform, Melio is a great option for smaller businesses that want a more efficient (and affordable) way to collect payments from their customers and track the receivables process. Plus, Melio integrates its receivables with , QuickBooks Desktop and .

Managing your accounts receivable is often a manual, time-consuming process that consists of:

Accounts receivable software automates this part of your business accounting to save you time and money. Here are some of the additional advantages of accounts receivable platforms:


Consider the following factors when trying to determine which accounts receivable software is right for your business:


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