Accounts Receivable Software

Accounts Receivable Software Overview

Accounts receivable (AR) software is a centralized platform that manages the money owed to an organization for its products, goods, or services. It automates invoicing, tracks collection and aging, and matches sales orders and invoices with payments. The software generates statements, collection letters, and reporting. It supports multi-channel collection across all payment methods and locations, including online, digital, EFT, and checks.


The software reduces human intervention and errors, increases accuracy and efficiency, and improves cash flow. It allows accounting departments to handle large numbers of invoices and payments.


AR software is used by accounting departments, managers and executives to review the activities of the accounting department, and by cash managers to obtain real-time information on receivables.


AI-powered AR software enables predictive cash forecasting, providing accurate insights into the size of your expected receivables. It provides tools and information needed to support regulatory compliance.


AR software is often included in Accounting Software suites and Enterprise Resource Planning (ERP) Systems, but those options do not necessarily include the advanced features that can be found in standalone AR products. Standalone AR products will usually support integrations with those systems.


Account receivables solutions collect debt, but they differ from dedicated Debt Collection Software that provides collection capabilities beyond what a traditional account receivables system offers.

Top Rated Accounts Receivable Products

TrustRadius Top Rated for 2022

These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.

Accounts Receivable Products

(1-25 of 37) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.

MIP Fund Accounting

MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.…

BlackLine
Customer Verified
Top Rated

BlackLine automates the the processes required to finalize periodic closing of the books. Beyond close/reconciliation management the product includes capabilities to enhance the management and control of financial processes throughout the accounting cycle. In October 2020, BlackLine…

D&B Finance Analytics

D&B Finance Analytics is a global credit-to-cash solution that provides Dun & Bradstreet data, analytics, and technology to help improve cash flow, increase operational efficiency, and mitigate risk. This AI-driven solution comprises two platforms – D&B Credit Intelligence…

athenaIDX

athenaIDX is an on-premise or cloud-hosted enterprise RCM solution that helps health systems, hospitals, billing services, and large practices optimize financial performance and successfully adapt to healthcare payment reform. It is based on the Centricity medical practice and EMR…

Melio

Melio is a small business-oriented Accounts Payable tool from the company of the same name in Tel Aviv. It is presented as a service that helps small businesses keep up with business. A B2B payments experience and payment workflow designed to be so simple it helps businesses focus…

GoDaddy Bookkeeping

GoDaddy Bookkeeping (formerly Outright) is a cloud-based bookkeeping and accounting automation platform targeted at small businesses. It contains basic bookkeeping and reporting features meant to simplify the process of accounting for small businesses and their accountants, ensuring…

Foundation Software Construction Accounting

Foundation Software headquartered in Strongsville, Ohio offers their construction accounting and payroll software. The vendor states that their job costing construction accounting software is designed to be easy to use and provides the accounting and management tools needed to run…

HighRadius Autonomous Receivables

Autonomous Receivables, from HighRadius headquartered in Houston, is an AI-powered accounts receivable solution. It is designed to reduce DSO and bad debt with the best Accounts Receivable Management Software. The solution connects credit, billing & invoicing, cash application, deductions,…

Veem

Veem, headquartered in San Francisco, offers payment tools to enable businesses to streamline their processes and build business relationships with suppliers and partners all over the world. Through integrations with popular business applications. Veem Local is an online and fee-…

TYASuite Procurement to pay Software

Procuring goods is an essential task in any business. Until and unless the goods are procured the business cannot go ahead and earn money by selling those goods. In the present scenario, a business house works with multiple goods at once and managing them simultaneously is a tedious…

Cygnet FACE

Cygnet FACE is a GSTN approved financial accounting software that creates GST compliant vouchers, reconciles bank transactions, tracks inventory, generates reports and files GST returns effortlessly. FACE is also capable of generating E-Invoices and E-way bill.

Cognizant RCM

Powered by intelligent automation, proven methods, and experienced professionals, Cognizant's RCM solutions are purpose-built to help customers improve performance. Offering customized solutions, Cognizant aims to help hospitals, health systems and physician practices drive intelligent…

OneCollect

ONECollect, from ONE BCG headquartered in Arizona, tracks unpaid invoices automatically and reminds customers to pay. The user gets complete control to customize communication, from defining follow-up schedule to setting the tone of the reminders. Invoice details are included in…

Qvalia

Qvalia automates finance processes. The cloud platform enables organisations to take full control of invoice data and automate accounting on a line-item level, without disrupting the IT infrastructure.The platform products automate accounts payable and accounts receivable processes,…

Growfin

Growfin is a Finance CRM aimed at helping B2B enterprises across the globe streamline their accounts receivable through automation. So finance, sales and customer success teams can collect cash faster to accelerate their cash inflows.

Denario

Denario was started to create a new B2B payments experience. A service that allows SMBs and Startups to automate their accounts payable and receivable functions. An integrated solution that works seamlessly with existing workflows. Businesses can use Denario to pay and get paid,…

Gaviti

Gaviti maps out the organization's collections situations, automatically engages debtors according to policies set by user.

CRF Solutions

Continental Recovery Services, DBA CRF Solutions was founded in 1991 and is a provider of Collection Services for the Commercial Credit Industry. They offer services like Small Claims Administration, early placement programs as well as their National Construction Notice Management…

Exela Payment Operations

Exela Payment Operations solution is a lockbox and remittance processing service, that includes electronic presentment and payment options with full AR processing solutions and collections management, as well as billing and statement optimization.

Checkbook.io

An Accounts Payable and Receivable software solution, Checkbook offers a way to send and receive Digital Checks instead of dealing with paper and postage, or more expensive online transactions. Features of Digital Checks for businesses include instant delivery, and online deposit,…

Pay Ready

Pay Ready (formerly Debt Logic) provides a cloud based software platform to manage and track everything related to post resident accounts receivables. Pay Ready uses predictive analytics and automated outreach to facilitate the entire payment process. Pay Ready aims to reduce admin…

Gradient MSP

Gradient MSP's Synthesize Billing Module reduces the pain of billing reconciliation by helping users to: Have confidence in invoice accuracyReview client usage in minutes - without the tab chaosSync resale service consumption to a supported PSASaving time: MSPs say that their billing…

GHX eInvoicing

GHX eInvoicing enables healthcare suppliers to deliver invoices as PDF files via an online portal, alongside an existing EDI delivery, lowering the volume of paper invoices sent through traditional mail services. The goal is to reduce the time, cost and effort associated with invoicing,…

Paycove

Paycove is an automated invoicing and payments service for small businesses, from the small company of the same name in Madison, Wisconsin. A digital billing platform for CRMs, Paycove provdes automated quoting, invoicing, and payments solution that integrates with the user's CRM…

Invoola

Invoola is a supplier portal, from Weirdoz headquartered in Beer Sheva , designed to ease workflows associated to invoicing suppliers.

Learn More About Accounts Receivable Software

What is Accounts Receivable Software?

Accounts receivable (AR) software is a centralized platform that manages the money owed to an organization for its products, goods, or services. It automates invoicing, tracks collection and aging, and matches sales orders and invoices with payments. The software generates statements, collection letters, and reporting. It supports multi-channel collection across all payment methods and locations, including online, digital, EFT, and checks.


The software reduces human intervention and errors, increases accuracy and efficiency, and improves cash flow. It allows accounting departments to handle large numbers of invoices and payments.


AR software is used by accounting departments, managers and executives to review the activities of the accounting department, and by cash managers to obtain real-time information on receivables.


AI-powered AR software enables predictive cash forecasting, providing accurate insights into the size of your expected receivables. It provides tools and information needed to support regulatory compliance.


AR software is often included in Accounting Software suites and Enterprise Resource Planning (ERP) Systems, but those options do not necessarily include the advanced features that can be found in standalone AR products. Standalone AR products will usually support integrations with those systems.


Account receivables solutions collect debt, but they differ from dedicated Debt Collection Software that provides collection capabilities beyond what a traditional account receivables system offers.

Accounts Receivable Software Features

Accounts receivable software should have most or all of the following features:
  • Accounts receivable ledger

  • Accounts receivable aging tracking

  • Automated billing and invoicing – custom templates, customer preferences

  • Automated customer statements

  • Customer portal - allow customers to view their invoices, payments, and balance

  • Omnichannel payment method support, online, digital, EFT, ACH, credit cards, checks, cash

  • Early payments discounting

  • Payment tracking, invoice, billing matching

  • Custom workflows, rules, and exceptions for accounts receivable automated and manual processing

  • Automated email reminders

  • Automated collection letters

  • Custom interest and late fee management

  • Invoice dispute management, staff routing

  • A central database, AR history, and customer profiles and preferences

  • Analytics, dashboards, data visualization, and reporting

  • AI predictive cash forecasting

  • Mobile app support

  • Integrations with accounting, ERP, and CPM systems


Accounts Receivable Software Comparison

Consider these factors when comparing accounts receivable software:


  • Type of Solution: Would your organization benefit from an advanced standalone accounts receivable software solution or would implementing an AR solution that is part of an accounting software suite or ERP system be more suitable? AR point solutions can also vary in specificity, from solutions for high-volume SMBs to standalone enterprise products.

  • Industry: Accounts receivable products have features that are tailored for specific industries. Robust features that handle invoice disputes are valuable to transportation and logistics businesses, while professional service firms would benefit from invoicing features that are tailored to timesheets and service delivery.

  • Integrations: When purchasing a standalone AR product, investigate how it integrates with your current accounting and ERP systems.

  • Implementation: AR software is available as a cloud-based solution, a SaaS solution hosted on a vendor’s server, or as an on-premises installation. Entry-level cloud-based solutions are less costly, support scalability as needed, make it easier and quicker to get up and running, and shield users from infrastructure and maintenance concerns. On-premises solutions ensure that your organization has full control over the AR process and data. The on-premise route may be preferable for some security and legal protection purposes, but cloud solutions are becoming the norm.


Start an accounts receivable software comparison here

Pricing Information

Entry-level accounts receivable software usually ranges between $9 and $99 a month. Enterprise-level solutions begin at $500 a month and usually require obtaining a quote from the vendor. Pricing usually depends on the features provided, number of concurrent users, number of customers, and number of transactions. Free trials are available.

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Frequently Asked Questions

What does accounts receivable software do?

Accounts receivable (AR) software automates the billing and collection of debts owed for products and services. It supports custom invoicing, tracks aging and payments, accepts payments from a variety of payment methods, produces analytics and reports, and offers predictive cash forecasting.

What are the benefits of using accounts receivable software?

Key benefits of using AR software include:

  • Improved Cash Flow: Accurate and timely invoicing results in faster payments. Omnichannel automated payment processing expedites payment delivery.
  • Improved Cash Management: Predictive cash forecasting provides insights into your future cash flow.
  • Cost Savings: Reduced manual work and fewer human errors increase efficiency and accuracy.
  • Workload Management: AR automation enables the generation of large numbers of invoices and processing high volumes of payments.
  • Risk Management: A complete understanding of a customer’s payment history improves customer credit risk management.
  • Improved Customer Relations: AR software facilitates customer communications and supports customer profiles and preferences.

How much does accounts receivable software cost?

Entry-level accounts receivable software usually ranges between $9 and $99 a month. Enterprise-level solutions begin at $500 a month and usually require obtaining a quote from the vendor. Free trials are available.

What are the best accounts receivable software products?