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The Best Accounts Receivable Software

The best accounts receivable software will help you track invoices, set up recurring invoices, and receive payments. Which top software is the right fit for you? Read our guide to find out.

    Erica Seppala
  • UPDATED

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

Managing your accounts receivables can be time-consuming, but you can save time and alleviate frustrations with accounts receivable software.

Accounts receivable software automates the accounts receivable process and allows you to tackle tasks like tracking invoices, setting up recurring invoices, or receiving payments in a fraction of the time.

In this post, we’re going to look at the best accounts receivable software. We’ve looked at features, pricing, automations, user reviews, and more to bring you our picks for the top A/R software.

Keep reading to learn more!

 

Learn More About Our Top Picks

CompanyBest ForNext StepsBest For
Bill.com

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  • Overall best accounts receivable software
  • $45-$70/user/month
  • Ideal for medium to large businesses that process numerous invoices
  • Overall best accounts receivable software
  • $45-$70/user/month
  • Ideal for medium to large businesses that process numerous invoices

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YayPay

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  • Best user-friendly accounts receivable software
  • Contact YayPay for pricing
  • Ideal for B2Bs of all sizes
  • Best user-friendly accounts receivable software
  • Contact YayPay for pricing
  • Ideal for B2Bs of all sizes

Visit Site

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Melio

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  • Best free accounts receivable software
  • $0/month
  • Ideal for smaller businesses looking for a basic A/R solution
  • Best free accounts receivable software
  • $0/month
  • Ideal for smaller businesses looking for a basic A/R solution

Visit Site

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CollBox

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  • Best accounts receivable software for overdue invoices
  • $0-$250/month
  • Ideal for businesses of all sizes that need help with collections
  • Best accounts receivable software for overdue invoices
  • $0-$250/month
  • Ideal for businesses of all sizes that need help with collections

Visit Site

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Chaser

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  • Best accounts receivable software for automated invoice reminders
  • $49-$369/month
  • Ideal for businesses of all sizes that want to save time on chasing payments
  • Best accounts receivable software for automated invoice reminders
  • $49-$369/month
  • Ideal for businesses of all sizes that want to save time on chasing payments

Visit Site

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Invoiced

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  • Best accounts receivable software for large businesses
  • Contact Invoiced for pricing
  • Ideal for larger businesses that want strong features & advanced reporting
  • Best accounts receivable software for large businesses
  • Contact Invoiced for pricing
  • Ideal for larger businesses that want strong features & advanced reporting

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Plooto

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  • Best combined accounts receivable & accounts payable software
  • $25/month
  • Ideal for smaller businesses looking for straightforward, affordable software
  • Best combined accounts receivable & accounts payable software
  • $25/month
  • Ideal for smaller businesses looking for straightforward, affordable software

Visit Site

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Show Fewer Options

Read more below to learn why we chose these options.

What To Look For In Accounts Receivable Software

The accounts receivable software you choose may vary based on the size of your business, your software budget, or your desired features. However, there are a few things that you should always look for when choosing your accounts receivable software, including:

  • An intuitive UI that’s easy to learn, use, and teach to other employees
  • Invoice templates and customizations
  • Competitively-priced payment processing
  • The ability to accept multiple payment methods
  • Automations such as recurring invoices or invoice scheduling
  • Integrations with accounting software and other business software and apps
  • Invoice tracking
  • Payment reminders
  • Automatic reconciliations
  • Reports and forecasts

The Best Accounts Receivable Software

Whether you’re looking for software that automates invoicing or need a more advanced way to collect overdue payments, there’s an accounts receivable software option that’s right for you.

These seven software options are easy to use, receive high user ratings, and stand out from their competitors as the best accounts receivable software.

  • Bill.com: Overall Best Accounts Receivable Software
  • YayPay: Best User-Friendly Accounts Receivable Software
  • Melio: Best Free Accounts Receivable Software
  • CollBox: Best Accounts Receivable Software For Overdue Invoices
  • Chaser: Best Accounts Receivable Software For Automated Invoice Reminders
  • Invoiced: Best Accounts Receivable Software For Large Businesses
  • Plooto: Best Combined Accounts Receivable & Accounts Payable Software

1. Bill.com: Overall Best Accounts Receivable Software

Bill.com



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Read our Review

Pros

  • Numerous integrations with accounting software
  • Mobile apps
  • Robust reporting
  • Easy to use

Cons

  • Poor customer support
  • Limited invoicing features

Bill.com simplifies invoicing through automation. This user-friendly program makes it possible to set up your account and start creating and sending invoices in just minutes. Bill.com integrates with top accounting software, including QuickBooks, Xero, and Sage, to reduce manual entry and automatically reconcile your accounts receivables.

Bill.com also serves as accounts payable software, allowing you to pay your bills with millions of vendors within the company’s network. Users of the software praise its ease of use, seamless integrations, and strong mobile apps, although there is a consistent pattern of negative comments surrounding Bill.com’s subpar customer support.

Bill.com Pricing

Bill.com has three pricing plans ranging from $45/user/month to $79/user/month. A custom plan is also available. The most expensive plan includes both A/R and A/P software. Additional fees charged by Bill.com include:

  • ACH processing: $0.49/transaction
  • Next-day ACH payments: $9.99
  • Mailed check payments: $1.69/payment
  • Expedited check payments: $11.99-$22.99
  • Mailed invoices: $1.49/invoice
  • Credit/debit card processing: 2.9%
  • International wire transfers: $14.99

Bill.com Features

Bill.com allows you to send and/or receive payments depending on the plan you select. Bill.com’s accounts receivable features are:

  • Invoice templates & customizations
  • Send invoices by email or US mail
  • Invoice scheduling
  • Invoice tracking
  • Automated payment reminders
  • Accept payments by ACH or credit card
  • Auto-charge & auto-pay
  • Automatic reconciliation

When Bill.com Is The Best Accounts Receivable Software Option

Bill.com is a solid accounts receivable option that perfectly complements your accounting software. While not as robust as some of its competitors, Bill.com is easy to set up, learn, and use, providing no-frills invoicing along with solid features such as invoice tracking, secure payments, account reconciliation, and various automations.

Get Started With Bill.com

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2. YayPay: Best User-Friendly Accounts Receivable Software

YayPay



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Pros

  • User-friendly
  • Numerous integrations
  • Good customer support
  • Easy & secure customer payment portal

Cons

  • Lengthy setup process
  • Non-transparent pricing

YayPay is an accounts receivable solution designed for B2B teams. YayPay is loaded with features that make it easier to get paid. With this software, you can access a centralized collection of customer communications, get paid through a secure customer portal, and even use predictive analytics to predict payor behavior.

Add in numerous integrations, a variety of automations, and advanced reporting, and it’s easy to see why YayPay is on this list. YayPay also has numerous positive reviews from its users, who most like the customization options and user-friendly interface.

YayPay Pricing

YayPay does not disclose its pricing online. Contact YayPay to schedule a demo and learn more about the software.

YayPay Features

YayPay boasts a solid set of features that make it easy to get your invoices paid. But don’t be fooled by the number of features, as users praise the software for being easy to use and navigate. Standout features of the software include:

  • A/R dashboard with payor trends, real-time DSO, & more
  • Credit control module
  • Predictive analysis
  • Collections management
  • Advanced reporting
  • Automated communications
  • Integrations with software including QuickBooks, Sage 300, & NetSuite

When YayPay Is The Best Accounts Receivable Software Option

YayPay is best suited for B2Bs of all sizes. It is an excellent choice for any business that wants to automate A/R, simplify collections, and reduce days of sales outstanding (DSO) through personalized communications and built-in automations and integrations.

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3. Melio: Best Free Accounts Receivable Software

Melio



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Pros

  • No monthly subscription fee
  • Fee-free ACH payments
  • Easy to use

Cons

  • Poor customer support
  • No automations

If you’re looking for an easy way to send and receive payments, you may find everything you need with Melio. Melio is software with basic features for creating invoices, tracking customer payments, and reconciling invoice payments with your bank account. Best of all? The software is free with no subscription fees.

In addition to handling your accounts receivables, Melio also makes it possible to pay your vendors, contractors, and other bills. However, if you’re looking for software with advanced features, automations, and reporting, you’re better off looking elsewhere. However, Melio is an inexpensive, easy-to-use option for businesses that need basic software without a ton of bells and whistles.

Melio Pricing

Melio is completely free, with no monthly subscription fee required. It is also free to accept or send payments through ACH bank transfer. However, there are a few fees for services like instant payouts and debit card payments. Fees for Melio are as follows:

  • Accept payments or pay by credit card: 2.9%
  • Debit card payments: 2.9%
  • Same-day bank transfers: 1%
  • Instant payouts: 1%
  • Expedited check delivery: $20
  • International transfers: $20

Melio Features

Melio keeps it simple, so there aren’t a lot of features that you’d find with other A/R solutions. However, it does offer just enough for businesses looking for an easy and secure way to get paid or pay bills. Notable features include:

  • Create invoices
  • Invoice tracking & management
  • Branded payment requests
  • Automatic reconciliation
  • Integrations with accounting software including QuickBooks & FreshBooks
  • Bill pay
  • International payments

When Melio Is The Best Accounts Receivable Software Option

If you don’t want to spend a fortune on accounts receivable software, Melio is a solid choice. However, the trade-off for this free software is a lack of features you’d find with its competitors. Customer support is also a bit lacking, so if strong support is on your must-have list, consider another option on this list. However, for smaller businesses that want basic A/R software that integrates with top accounting software options, Melio could be the right fit.

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4. CollBox: Best Accounts Receivable Software For Overdue Invoices

CollBox



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Pros

  • Integrates with top accounting software solutions
  • Easy to use
  • Great customer support

Cons

  • Potentially high fees
  • Lacks standard A/R software features

If your business frequently struggles to get paid, consider giving CollBox a try. Simply sync CollBox with your existing accounting software, and CollBox works behind the scenes to analyze your past due invoices and identify the best solution — from receivables agents to collection agencies.

CollBox isn’t the right A/R solution for every business, as this software is designed to collect payments for overdue invoices. However, if you’re looking for a hassle-free way to get your incoming cash flow back on track, CollBox may be the right solution for your business.

CollBox Pricing

CollBox has two pricing plans. Assist by CollBox is priced at $250 and provides you with a dedicated accounts receivable expert to collect payments for invoices that are up to 90 days past due. Collect by CollBox is for invoices that are past due by over 90 days. There is no subscription fee. However, you will have to pay a percentage (starting at 25%) of the funds that are collected.

CollBox Features

You won’t find a lot of the features you’d find with traditional A/R software here. But you will receive a variety of tools to help you clear up those unpaid invoices. Features of CollBox include:

  • Dedicated A/R expert
  • Live status tracking
  • Personalized solutions using a network of collection agents & receivables agents
  • Integrations with accounting software including QuickBooks, FreshBooks, & Xero
  • Risk-free offers for collections

When CollBox Is The Right Accounts Receivable Software Option

CollBox isn’t your typical accounts receivable software, so you won’t find traditional invoicing, automations, and other features here. However, CollBox is an excellent choice for business owners that are too busy or have run out of solutions for collecting on unpaid invoices, as CollBox does the hard work and collecting for you.

Get Started With CollBox

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5. Chaser: Best Accounts Receivable Software For Automated Invoice Reminders

Chaser



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Pros

  • Easy to use
  • Excellent customer support
  • Integrates with numerous accounting programs
  • Fast & easy implementation

Cons

  • Lacks customizations for reports
  • Add-ons can drive up pricing

Chaser is award-winning accounts receivable software designed to help you get paid faster. According to the company, users can get paid an average of 16 days sooner and DSO is reduced by 25%.

This end-to-end A/R solution offers a number of solutions for your business, from automating accounts receivables processes to providing debt collection services. The software received favorable reviews from users, with most praising the customer support, ease of use, and time and money saved using the software.

Chaser Pricing

Chaser has three pricing plans ranging from $49-$369+/month. The more expensive plans include additional users, integrations, schedules, and number of invoices “chased” each month. A 14-day free trial is available so you can test out the software before signing up. Some features, such as credit control, are add-ons that are available for an additional fee. Contact Chaser to learn more.

Chaser Features

Chaser has an overall strong set of features, although the features you have access to are based on your monthly plan. Features worth noting include:

  • Payment reminder templates
  • Email reminders
  • SMS reminders
  • Integrated payment portals
  • Automatic reconciliations
  • Integrations with popular software including ZohoBooks & Xero
  • Interactive reports
  • In-app debt collection quotes
  • Outsourced credit control

When Chaser Is The Best Accounts Receivable Software Option

If you want to save time and achieve more success when chasing payments, Chaser is software that’s worth your consideration. The software easily integrates with your accounting software and makes it easy to schedule, track, and personalize payment reminders. Chaser offers a smaller, more affordable plan designed for smaller businesses, while also boasting a feature-rich Enterprise plan and plenty of add-ons to make it a suitable choice for larger businesses, as well.

Get Started With Chaser

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6. Invoiced: Best Accounts Receivable Software For Large Businesses

Invoiced



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Read our Review

Pros

  • Numerous integrations
  • Excellent customer support
  • Integrates with numerous payment gateways
  • User friendly

Cons

  • Non-transparent pricing
  • Occasional glitches

Invoiced is award-winning cloud-based accounts receivable software that boasts customers including T-Mobile and Berkshire Hathaway. Invoiced provides you with the personalized tools you need to collect payments, all while providing your customers with an enhanced experience. On average, Invoiced claims its customers get paid 14 days faster when using the software.

Invoiced offers modern A/R solutions including automated collections, flexible customer payment options, and in-depth analytics. User reviews across the web are primarily positive, with users praising the company’s solid customer support, user-friendly software, and robust features.

Invoiced Pricing

Invoiced does not disclose its pricing online. You can contact Invoiced directly to schedule a demo and learn more about its personalized A/R solutions.

Invoiced Features

Invoiced’s features make it easy to automate your accounts receivable, while also making it easier and more convenient for your customers to pay their invoices. Features include:

  • Automated collections
  • Branded payment portals
  • Integrated messaging
  • Integrated task management tools
  • Multi-channel payment reminders
  • Automatic reconciliation
  • Advanced reports
  • Payment forecasting
  • Integrates with software including NetSuite & QuickBooks

When Invoiced Is The Best Accounts Receivable Software Option

Consider using Invoiced if you want to automate A/R while also providing your customers with more payment options. While Invoiced can be used by businesses of all sizes, the software has enough features, automations, reports, and integrations to make it an exceptional choice for larger businesses that require more customized accounts receivable solutions.

Get Started With Invoiced

Read our in-depth review

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7. Plooto: Best Combined Accounts Receivable & Accounts Payable Software

Plooto



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Pros

  • Easy to use
  • Integrates with accounting software
  • Quick & easy setup
  • Affordable

Cons

  • Poor customer support
  • Mediocre reporting

Whether you’re collecting money from your customers or paying your business’s bills, Plooto has you covered. This accounts receivable and accounts payable software automates payments in one easy-to-use, affordable package.

Plooto makes it easy for you to securely accept a variety of payment methods from your customers. You can also take advantage of next business day payments for your own expenses. Reviews of the software are mostly positive, with users most enjoying the ease of use, easy setup, and integrations with accounting software.

Plooto Pricing

Plooto is priced at $25/month. This plan includes unlimited users, customers and suppliers, and bank connections. Ten domestic payments per month are also included. A free 30-day trial is available to test out the software for yourself. Additional fees charged by Plooto include:

  • Domestic transactions (after 10): $0.50/transaction
  • International transactions: $9.99/transaction
  • Check payments: $1.99
  • Credit card processing: 2.9% + $0.30

Plooto Features

Plooto is a simple accounts payable and accounts receivable automation platform that simplifies payments coming in and out of your business. For the purposes of this post, we’ll focus on Plooto’s accounts receivable features, which include:

  • Automatic reconciliations
  • Pre-authorized debits
  • Recurring payments
  • Integrations with QuickBooks & Xero
  • ACH, EFT, & credit card payments accepted
  • Contact management

When Plooto Is The Best Accounts Receivable Software Option

Plooto is a solid option if you want straightforward accounts receivable software. While you may not find some of the advanced features you’d find with other software options, the trade-off is an easy-to-use platform that’s priced affordably enough for smaller businesses. The positive user reviews and accounts payable features are just icing on the cake.

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Why We Don't Recommend These Accounts Receivable Software Options

Fundbox

Fundbox is a small business lender that previously offered invoice financing. With invoice financing, small business owners could access a line of credit backed by their unpaid invoices. This allowed Fundbox users to get the cash flow they needed without having to wait for customers to pay their invoices. Unfortunately, Fundbox has moved away from invoice financing. However, the company still offers business lines of credit and term loans to businesses that need a financial boost.

Which Accounts Receivable Software Is Right For Your Business?

Using accounts receivable software to automate some of your business processes is an easy way to save time and money. Before making the leap into this software, make sure to do your research. Keep in mind the features you want, whether the software integrates with your existing programs, and your budget. And don’t forget to take advantage of any free plans or trials to get a feel for the software before signing up.

Using accounts receivable software is a great way to help you get paid and keep the cash flowing in your business. But if you continue to struggle with cash flow due to unpaid invoices, consider accounts receivable factoring, which potentially gives you access to capital in just days using your outstanding invoices. Start your search with our top picks for accounts receivable factoring. Whether you choose an invoice factor, subscribe to A/R software, or decide to do both, here’s to getting funds quickly from your outstanding invoices. Good luck!

Accounts Receivable Software FAQs

What software is used for accounts receivable?

Accounts receivable software (also known as accounts receivable automation software) is used for accounts receivable. This type of software makes it possible to create and send invoices, track invoices and payments, accept online payments, and automate tasks like recurring invoices or sending out payment reminders.

What is the best accounts receivable software?

Bill.com is one of the top choices in accounts receivable software, receiving high marks from users for its ease of use, built-in automations, and integrations. The other options on our best-of list are also great choices and may offer the features you need to automate your accounts receivable process.

How do I automate accounts receivable?

The easiest way to automate accounts receivable is by using software. Accounts receivable makes it easy to send invoices, track invoices and payments, send payment reminders, accept customer payments, set up recurring invoices, and perform other essential A/R functions.

What is SAP in accounts receivable?

SAP stands for System Analysis Program Development. It is a worldwide producer of enterprise-level software designed to automate business processes while maintaining compliance. In terms of accounts receivable, SAP offers solutions for subscription-based billing, A/R management, reduced DSO, and more.

Does QuickBooks track accounts receivable?

QuickBooks is an accounting software program that lets you create and track accounts receivable. It even boasts several A/R automations. However, many business owners find that using an accounts receivable integration along with QuickBooks is a more efficient way to track and receive payments from customers.

What is accounts receivable automation?

Accounts receivable automation is a way to automate tasks in your accounts receivable process. This includes tasks like sending recurring invoices, tracking payments, and sending reminders to customers for overdue invoices. You can easily automate your accounts receivable using software, like the options included in this post.

In Summary: The Best Accounts Receivable Software

  1. Bill.com:
    • Overall best accounts receivable software
    • $45-$70/user/month
    • Ideal for medium to large businesses that process numerous invoices
  2. YayPay:
    • Best user-friendly accounts receivable software
    • Contact YayPay for pricing
    • Ideal for B2Bs of all sizes
  3. Melio:
    • Best free accounts receivable software
    • $0/month
    • Ideal for smaller businesses looking for a basic A/R solution
  4. CollBox:
    • Best accounts receivable software for overdue invoices
    • $0-$250/month
    • Ideal for businesses of all sizes that need help with collections
  5. Chaser:
    • Best accounts receivable software for automated invoice reminders
    • $49-$369/month
    • Ideal for businesses of all sizes that want to save time on chasing payments
  6. Invoiced:
    • Best accounts receivable software for large businesses
    • Contact Invoiced for pricing
    • Ideal for larger businesses that want strong features & advanced reporting
  7. Plooto:
    • Best combined accounts receivable & accounts payable software
    • $25/month
    • Ideal for smaller businesses looking for straightforward, affordable software
Erica Seppala

Erica Seppala

Expert Analyst & Reviewer at Merchant Maverick
An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Erica's insights into personal and business finance have been cited in numerous publications, including MSN, Real Simple, and Reader's Digest. She is a graduate of Limestone College.
Erica Seppala
View Erica Seppala's professional experience on LinkedIn.

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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

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