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 | $35/month Additional pricing tiers (per month): $65, $99, $235. | 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 | $20/month Additional pricing tiers (per month): $47, $80. | 95% off for 3 months plus get a $300 Amazon voucher (terms apply). | 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. | Get 80% off for 4 months. 30-Day Money Back Guarantee. | Learn more on FreshBooks' secure website |
StaxBill Learn more on StaxBill's secure website | Best for Subscription businesses | $199 Additional pricing tiers (per month): $399, 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 | $39/month Additional pricing tiers (per month, billed annually): $199, $499, custom. | 30-day free trial | |
Bill.com | Best for Bundling receivables and payables | $45/month Per user. Additional pricing tiers (per user, per month): $55, $79, custom. | N/A | |
Plooto | Best for Low-cost option | $24/month Additional pricing tiers (per month): Custom. | 30-day free trial |
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
on QuickBooks Online's secure website
Additional pricing tiers (per month): $65, $99, $235.
for first three months or free 30-day trial.
Pros
- Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.
- More than 750 app integrations.
- Robust feature set includes record-keeping, reporting, invoicing and inventory management, plus a capable mobile app.
- Chat and phone support available Monday through Saturday in all plans.
Cons
- Expensive compared with the competition.
- Frequent price increases and a tendency toward upselling.
- Limited account users with each plan.
Xero
on Xero's secure website
Additional pricing tiers (per month): $47, $80.
plus get a $300 Amazon voucher (terms apply).
Pros
- Unlimited users in all pricing plans.
- Integrates with more than 1,000 third-party apps.
- Feature set includes an excellent mobile app and suite of reports, capable invoicing features, plus automated bill and receipt capture through Hubdoc.
- Simple layout and easy to use.
Cons
- No phone number for customer support listed.
- Entry-level plan limits bills and invoices to five and 20 per month, respectively.
- Must subscribe to the highest-tier Established plan to claim expenses.
FreshBooks
on FreshBooks' secure website
Additional pricing tiers (per month): $33, $60, custom.
for 4 months. 30-Day Money Back Guarantee.
Pros
- Stay in touch with clients through the FreshBooks mobile app and get notified when invoices have been viewed or become overdue.
- Intuitive, customizable invoicing capabilities compete with those of more robust accounting solutions.
- Track time and add billable hours to invoices in all plans.
- Weekday phone support in all plans.
Cons
- Highest-tier Select plan only comes with two users (additional users add $11 per month) and lower-tier plans put limits on billable clients.
- Least expensive plan lacks double-entry accounting reports, bank reconciliation and accountant access.
Our pick for
Subscription businesses
StaxBill
on StaxBill's secure website
Additional pricing tiers (per month): $399, custom.
Pros
- Automation tools for retaining good customers, decreasing revenue leakage and chasing unpaid invoices.
- More than 40 automated reports, including an accounts receivable aging report.
- Direct integrations with big-name accounting software, like NetSuite and QuickBooks, as well as access to StaxBill’s API for integrations with additional third-party software.
- Access to Stax’s payment gateway and 0% markup processing rates (for an added monthly cost).
Cons
- Limited number of users allowed in Starter and Growth plans.
- Pricing is higher than other standalone accounts receivable solutions.
- Limited direct integrations with other software.
Our pick for
Reporting and analytics
Quadient AR by YayPay
Quote-based.
Pros
- Integrates with several billing and enterprise resource planning solutions.
- Includes advanced business intelligence analytics, providing financial insights to help manage cash flow and make informed business decisions.
- Assesses customers’ creditworthiness in real time using partnerships with credit rating companies.
- Includes customized onboarding process and account manager with the account.
Cons
- Lacks pricing transparency.
- No free trial.
- Only email-based customer support.
Our pick for
Robust features
Invoiced
Additional pricing tiers (per month, billed annually): $199, $499, custom.
Pros
- Robust out-of-the-box features.
- Automated collections software to manage customers and track payments across channels.
- Connects with a variety of payment gateways; offers internal payment processing as well.
- Email, live chat and phone-based customer support for the midsize and enterprise tier plans.
Cons
- Extremely limited features offered in the small business tier plan.
Our pick for
Bundling receivables and payables
Bill.com
Per user. Additional pricing tiers (per user, per month): $55, $79, custom.
Pros
- Plan options available that bundle receivable and payable software.
- Customize approval workflows for paying bills.
- Accept multiple payment methods from customers (ACH, card, check); sync received payments directly with your accounting software.
- Customer support available via live chat or call-back request.
- Mobile app available.
Cons
- Least-expensive plan includes manual integration only with accounting software.
Our pick for
Low-cost option
Plooto
Additional pricing tiers (per month): Custom.
Pros
- Affordable monthly cost.
- Unlimited users and accountants or bookkeepers.
- Software includes capabilities for both accounts receivable and accounts payable.
- 30-day free trial with 10 free domestic transactions included.
- Live chat and phone support.
Cons
- Integrates with QuickBooks and Xero only.
Our top picks for all-in-one accounting and accounts receivable software
QuickBooks Online: Best overall
- $35 per month for the Simple Start plan.
- $65 per month for the Essentials plan.
- $99 per month for the Plus plan.
- $235 per month for the Advanced plan.
Xero: Best simple and affordable software
- $20 per month for the Early plan.
- $47 per month for the Growing plan.
- $80 per month for the Established plan.
FreshBooks: Best for self-employed professionals
- $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.
Our top picks for standalone accounts receivable software
Quadient AR by YayPay: Best for reporting and analytics
Invoiced: Best for robust features
Bill.com: Best for bundling receivables and payables
- $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.
Plooto: Best for low-cost option
- $24 per month for the Grow plan.
- Custom pricing available for the Pro plan.
Stax Bill: Best for subscription businesses
- Starting at $199 per month for the Starter plan.
- Starting at $399 per month for the Growth plan.
- Quote-based pricing for the Enterprise plan.
Benefits of accounts receivable software
- 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.
🤓 Nerdy Tip
When searching for AR software, you may see many mentions of accounts receivable automation software. The two are interchangeable. Software that assists you with the accounts receivable process is necessarily using tools and technology to automate this once very manual process.- 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.
Key considerations when choosing accounts receivable software
- 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 of accounts receivable software