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Best Accounts Receivable Software of March 2024

The best accounts receivable software automates your invoicing and collections processes to get you paid faster.
By Karrin Sehmbi
Last updated on January 3, 2024
Edited bySally Lauckner
Fact checked and reviewed

⏰ Estimated read time: 9 minutes

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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.
Some small-business accounting software solutions like QuickBooks Online and Xero include tools to help you manage accounts receivable in addition to your many other accounting needs. On the other hand, 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 (AR) software for small businesses.

Best Accounts Receivable Software

Product
Promotion
Learn more

QuickBooks Online

Learn more

on QuickBooks Online's secure website

5.0/5

Best for All-in-one solution

$30/month

Additional pricing tiers (per month): $60, $90, $200.

50% off

for first three months or free 30-day trial.

Learn more

on QuickBooks Online's secure website

Xero

Learn more

on Xero's secure website

5.0/5

Best for All-in-one solution

$15/month

Additional pricing tiers (per month): $42, $78.

30-day free trial

or monthly discount (terms vary).

Learn more

on Xero's secure website

FreshBooks

Learn more

on FreshBooks' secure website

4.5/5

Best for All-in-one solution

$19/month

Additional pricing tiers (per month): $33, $60, custom.

30-day free trial

or monthly discount (terms vary).

Learn more

on FreshBooks' secure website

StaxBill

Learn more

on StaxBill's secure website

Best for Subscription businesses

$199

Additional pricing tiers (per month): $499, custom.

N/A

Learn more

on StaxBill's secure website

Quadient AR by YayPay

Best for Reporting and analytics

N/A

Quote-based.

N/A

Invoiced

Best for Robust features

N/A

Quote-based.

N/A

Bill.com

Best for Bundling receivables and payables

$45/month

Per user. Additional pricing tiers (per user, per month): $55, $79.

N/A

Plooto

Best for Low-cost option

$32/month

30-day free trial

of the Grow plan.

Our picks for

All-in-one solution

Many of the popular and more robust accounting software solutions on the market include invoicing or accounts receivable features, which helps to consolidate your software and the number of providers you deal with. Going with an all-in-one solution means you don’t need to worry about finding accounts receivable software that integrates with your accounting software.

QuickBooks Online

Learn more

on QuickBooks Online's secure website

Starting at
$30/month

Additional pricing tiers (per month): $60, $90, $200.

Promotion
50% off

for first three months or free 30-day trial.

Learn more

on Xero's secure website

Starting at
$15/month

Additional pricing tiers (per month): $42, $78.

Promotion
30-day free trial

or monthly discount (terms vary).

FreshBooks

Learn more

on FreshBooks' secure website

Starting at
$19/month

Additional pricing tiers (per month): $33, $60, custom.

Promotion
30-day free trial

or monthly discount (terms vary).

Our pick for

Subscription businesses

StaxBill

Learn more

on StaxBill's secure website

Starting at
$199

Additional pricing tiers (per month): $499, custom.

Promotion
N/A

Our pick for

Reporting and analytics

Quadient AR by YayPay

Starting at
N/A

Quote-based.

Promotion
N/A

Our pick for

Robust features

Invoiced

Starting at
N/A

Quote-based.

Promotion
N/A

Our pick for

Bundling receivables and payables

Bill.com

Starting at
$45/month

Per user. Additional pricing tiers (per user, per month): $55, $79.

Promotion
N/A

Our pick for

Low-cost option

Plooto

Starting at
$32/month
Promotion
30-day free trial

of the Grow plan.

Our top picks for all-in-one accounting and accounts receivable software

QuickBooks Online: Best overall

Price:
  • $30 per month for the Simple Start plan.
  • $60 per month for the Essentials plan.
  • $90 per month for the Plus plan.
  • $200 per month for the Advanced plan.
Integrations: More than 750 software integrations available for managing business, sales, data, workforce and more.
Why we like it: As one of the top accounting software brands, QuickBooks just about does it all with solutions for accounting, payments, time tracking, inventory management and more. And if the functionality you’re looking for isn’t included in the company’s suite of products, then its extensive library of third-party software integrations will likely meet your needs. The ability to send invoices and accept payments is included with all QuickBooks Online plan tiers. Read our full QuickBooks Online review.

Xero: Best simple and affordable software

Price:
  • $15 per month for the Early plan.
  • $42 per month for the Growing plan.
  • $78 per month for the Established plan.
Integrations: More than 1,000 applications in an easily searchable app store.
Why we like it: Like other full accounting solutions, Xero offers an invoicing tool that could serve your business's accounts receivable needs without introducing separate software. Xero allows you to automate some of the process with automatic payment reminders to customers and gives you the flexibility to send invoices and check payment status from the mobile app. The cheapest-tier plan limits the number of invoices you can send. Read our full Xero Accounting review.

FreshBooks: Best for self-employed professionals

Price:
  • $19 per month for the Lite plan.
  • $33 per month for the Plus plan.
  • $60 per month for the Premium plan.
  • Custom pricing for the Select plan.
Integrations: More than 140 apps to help you manage customers, projects, finances, staff and more.
Why we like it: FreshBooks is another accounting software solution that includes the ability to send and track invoices and accept payments, thereby potentially fulfilling your accounts receivable needs. The software, like most in the space, enables you to set up automatic payment reminders and communications to your clients so you can focus your efforts elsewhere on your business. Many of its plan tiers are oriented to those who are self-employed or to smaller establishments with contract workers. Invoices are unlimited across plan tiers, but the Lite and Plus plans limit the total number of clients you can invoice. Read our complete FreshBooks review.

Our top picks for standalone accounts receivable software

Quadient AR by YayPay: Best for reporting and analytics

Price: Quote-based.
Integrations: NetSuite, Sage Intacct, SAP Business One, QuickBooks Online, Salesforce and more.
Why we like it: Quadient AR by YayPay is an accounts receivable automation software that includes a detailed business intelligence dashboard with data and analytics that can be used to monitor your financial health and drive future decisions. It also provides a thorough communication history section to manage relationships with your customers in one place. In addition, the company works with credit rating partners to monitor your customers’ creditworthiness in real time, a useful feature to help set your payment terms and manage cash flow.

Invoiced: Best for robust features

Price: Quote-based.
Integrations: NetSuite, QuickBooks, Sage Intacct, Xero and several specialty integrations, including Salesforce, Zapier and more.
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 QuickBooks and Xero, as well as other business tools, and offers multiple channels for customer support at the more advanced plan levels. Pricing is quote-based, however, so you’ll need to contact Invoiced to determine which plan tier your business requires and the cost of that plan.

Bill.com: Best for bundling receivables and payables

Price:
  • $45 per user per month for the Essentials plan.
  • $55 per user per month for the Team plan.
  • $79 per user per month for the Corporate plan, which bundles accounts payable and accounts receivable.
Integrations: QuickBooks, NetSuite, Xero, Sage and Microsoft.
Why we like it: Bill.com is a user-friendly platform with competitive pricing, especially for small businesses that don’t need an enterprise-level solution. With Bill.com, you have access to the essential features you need to streamline accounts receivable: invoice tracking, automatic payment reminders and a customer payment portal. Bill.com 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, Bill.com is a great option for businesses that want to bundle accounts receivable software and accounts payable software, offering a dual solution starting at $79 per user per month.

Plooto: Best for low-cost option

Price:
  • $32 per month for the Grow plan.
  • $59 per month for the Grow Unlimited plan.
Integrations: QuickBooks and Xero.
Why we like it: Plooto is a low-cost choice for small businesses that want a dedicated solution to optimize the collection and payments process. Plooto is more affordable than some other options, especially considering the software includes unlimited users plus accounts payable features in addition to accounts receivable. Plooto also allows businesses to accept credit card payments from customers – an essential feature for many business owners.
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.

Stax Bill: Best for subscription businesses

Price:
  • Starting at $199 per month for the Starter plan.
  • Starting at $499 per month for the Growth plan.
  • Quote-based pricing for the Pro plan.
Integrations: QuickBooks, NetSuite, Salesforce, HubSpot and more.
Why we like it: Stax Bill’s software automates more than invoicing. It helps you manage the full subscription lifecycle with a customer self-service portal and pricing flexibility, takes the manual work out of recurring billing, eases the burden of recurring revenue management, offers over 40 reports that update in real time and more.
Stax Bill is part of the Stax suite of software, which also includes Stax Payments, a subscription-model payment processing solution. Stax also owns CardX, a compliant credit card surcharging solution that enables you to legally pass on credit card fees to your customers.

What are the benefits of accounts receivable software?

Managing your accounts receivable is often a manual, time-consuming process that consists of:
  • Invoicing your customers.
  • Tracking outstanding payments.
  • Collecting payments.
  • Recording received payments in your general ledger.
  • Running reports and using data to analyze your business’s financial position.
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:
  • Manage your cash flow. When your customers take too long to pay, it can cause cash-flow issues. Accounts receivable software can make it easier to ensure that you get paid faster, without you having to make phone calls or send individual emails to follow up on payments.
  • Prevent errors. Following up with customers and managing payments in multiple places can be difficult, and mistakes may happen. If you integrate AR software with accounting software, however, the data syncs so that you don’t have to worry about transferring payments or keeping track of different systems.
  • Improve customer relationships. AR software not only helps you get paid, but also helps facilitate your relationships with your customers. These platforms make it easier for your customers to make payments and communicate with you about their invoices.
  • Provide business insights. With all of your accounts receivable data in one place, you can analyze data — like revenue over time or customer activity — to get a better understanding of your financial position and how your business is performing.

How to choose accounts receivable software

Consider the following factors when trying to determine which accounts receivable software is right for your business:
  • Level of automation. Think about how a platform fits the size of your business and your specific goals. Are you looking for an enterprise-level solution with advanced features for collections, payments and customer communications? If you’re a smaller business looking to optimize your accounts receivable, you may not need enterprise-level automation.
  • Invoicing features. Some platforms include the ability to create and send invoices, while others require that you integrate your software and sync existing invoices. If you already have invoicing software, you may not need a system that includes these features. On the other hand, you may prefer accounts receivable software that offers everything in one place.
  • Integrations. Does the software integrate with your accounting system? The platform will be more useful if you can sync systems. That way, you don’t have to manually transfer payments and you can streamline the reconciliation process. You may also consider what other integration opportunities the software offers. Some platforms allow you to connect with third-party payment gateways, customer relationship management software and project management tools.
  • Cost. Some accounts receivable software options are priced on a quote basis, which can make it difficult to estimate costs. Additionally, some solutions may charge more for additional features or users. It may be helpful to set a general budget before you start comparing options or contacting companies for quotes, so you have a sense of what’s reasonable for your business.

In the market for accounting software?

If you’re also in search of accounting software that best fits the needs of your business (perhaps an all-in-one solution that can handle both accounting and accounts receivable), check out our top picks.
Last updated on January 3, 2024

Methodology

NerdWallet’s accounting software ratings favor products that are easy to use, have a robust feature set and can grow with your business. Ratings are based on weighted averages of scores in several categories, including range of features, ease of use, scalability, accounting standards compliance, ease of sharing with accountants, integrations, customer support and cost. Learn more about how we rate small-business accounting software.
These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. Simplicity doesn't always translate into ease of use. Less scalable products are typically simpler, but diminished functionality can cause headaches down the road for growing businesses. We encourage you to research and compare multiple accounting software products before choosing one.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
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