11 Best Accounts Receivable Software In 2023 [TOP RATED]

This is a comparison of the top Accounts Receivable Software. You can choose the best Accounts Receivable Management Software based on this review:

Accounts receivable is the net amount of credit that a business enterprise is going to receive by its customers, against the goods and services rendered to them.

The accounts receivable process should be very smooth and quick, so as to maintain the customers’ interest and eventually increase the sales of your company.

Accounts Receivable Software

Accounts Receivable Software

For a growing business that needs to focus more and more on getting in terms with the tastes and preferences of its customers and a large business that already has a huge customer base, accounts receivable can be a distracting and time taking process.

Thus, here comes the need for software that can handle the task with much ease, accuracy, transparency, speed, and efficiency.

Need for Accounts Receivable Software

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In this article, we will do a thorough study on the best accounts receivable software. Go through the article to see the comparison, verdicts, features, and prices of each one of them, so that you can decide which one is best for you.

Pro-Tip: The accounts receivable management software that you buy should be Cloud-based, so you can access it from anywhere. It should give your customers multiple options of paying to quicken up the process. Automation features can also be of immense benefit.

Facts Check: A report by Markets and Markets states that the accounts receivable automation market is anticipated to expand from being worth $1.7 billion in the year 2019 to $3 billion in 2024, by growing at a Compound Annual Growth Rate (CAGR) of 12.1% during this period. Asia Pacific’s market is expected to grow at the highest CAGR.

The below graph shows the accounts receivable automation market by region:

Asia Pacific’s market

In the above graph, APAC = Asia Pacific, and MEA = Middle East and Africa

Frequently Asked Questions

Q #1) What are accounts receivable in simple words?

Answer: Accounts receivable is the net amount of credit that a business enterprise is going to receive by its customers, against the goods and services rendered to them.

Q #2) What is the AR invoice?

Answer: It is the invoice that a company sends to its customers, which contains the details of goods or services purchased, including the date and time of purchase, quantity purchased, the price per unit, and the information about the buyer.

Q #3) What is the difference between AR and sales invoices?

Answer: AR is a term that is used to indicate the amount of money or credit that is yet to be received by a company, in exchange for the goods and services already rendered.

On the other hand, a sales invoice, or a sales bill, or an AR invoice, is a document containing the details of goods or services purchased, including the date and time of purchase, quantity purchased, the price per unit, and the information about the buyer.

Q #4) How do you show accounts receivable on a balance sheet?

Answer: Accounts receivable are categorized as an asset to a company. This is because they bring value to your company. Thus, you should show the accounts receivable in the assets section of the balance sheet.

Q #5) Is accounts receivable good or bad?

Answer: Accounts receivable indicates the amount of credit a company is entitled to get in the future, in return for the goods and services that it has delivered. An increase in the accounts receivable means more sales are being made, which is a good sign for the company.

But a sharp increase in the accounts receivable may also indicate large amounts of credits that are due and not paid, which can be bad for the company because its future operations may get hindered due to lack of credits.

Q #6) What is the AR aging report?

Answer: An AR aging report contains information about the company’s outstanding accounts receivable. Through this report, a company can categorize the customers into fast or slow payers. The main purpose of this report is to visualize the financial health of the customers so that this aspect can also be considered while deciding.

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List of the Best Accounts Receivable Software

Here is the list of popular accounts receivable management software:

  1. Melio
  2. Sage Intacct
  3. YayPay
  4. SoftLedger
  5. Oracle NetSuite
  6. Hyland Solutions
  7. Dynavistics Collect-it
  8. AnytimeCollect
  9. FreshBooks
  10. QuickBooks
  11. Xero
  12. Bill.com

Comparing Top Accounts Receivable Management Software

Tool NameBest forPriceDeploymentRating
MelioA simple and free accounts receivable software.FreeOn Cloud, SaaS, Web4.6/5 stars
Sage IntacctAutomating features that help in increasing cash flowContact directly for a price quote. On Cloud, SaaS, Web, Windows desktop, Android/Apple mobile, iPad5/5 stars
YayPayAn all-in-one accounts receivable softwareContact directly to get a price quote. On Cloud, SaaS, Web5/5 stars
SoftLedgerOffers a variety of accounting featuresContact directly to get a price quote.On Cloud, SaaS, Web4.5/5 stars
Oracle NetSuiteA complete financial management softwareContact directly to get a price quoteOn Cloud, SaaS, Web, Mac/Windows desktop, Android/Apple mobile, iPad4.6/5 stars
Hyland SolutionsA user-friendly softwareContact directly to get a price quoteOn Cloud, SaaS, Web4.5/5 stars

Reviews of accounts receivable collections software:

#1) Melio

Melio – Best for being a simple and free accounts receivable software.

Melio Logo

Melio was founded in 2018, with the aim of making B2B payments simple and less time taking. The platform allows your clients/customers to pay digitally.

The platform is highly trusted. It allows you to send branded invoices so that you look more professional. Plus, the automation tools instantly match the received accounts with the invoices.


  • Lets you send payment requests to your customers
  • Automation tool to instantly match invoices with the payments received.
  • A single platform to view and manage all invoices
  • Compatible with all devices
  • Let’s to offer discounts to your customers
  • Let’s to customize your invoices, with advanced branding options.

Verdict: By offering the accounts receivable services for free, Melio has proved that the software is highly useful. With Melio, you can receive payments through checks or bank transfers. If in case the client wants to pay you through a card and you do not want payments through a card, Melio will accept payments from the client on your behalf and will send you a check or will do a bank transfer.

The software is highly recommended for small businesses that have simple cash flow requirements.

Price: Free (No charges for receiving payments).

#2) Sage Intacct

Best for automating features that help in increasing cash flow.

Sage Intacct

One of the products of Sage Intacct is the accounts receivable software, which offers you automatic invoicing and collection features. The software lets you get paid faster by creating recurring invoices, offering more payment options, and much more.


  • Automates the billing process.
  • Intuitive dashboard that gives all information about your financial history.
  • Integrates with ADP, Salesforce, and more.
  • Budgeting, planning, and HR management tools

Verdict: The software is reported to be easy to use by its users. The compatibility with mobile devices is a plus point. Some find the software a bit costly, but the services rendered are worth it.

Price: Contact directly for a price quote.

Website: Sage Intacct

#3) YayPay

Best for being a complete account receiving solution.


YayPay is a complete accounts receivable management software, which gives you information about your complete history with your customers, predicts future payments based on the data collected from your transaction history, and much more.


  • Credit assessment feature lets you know the buying power of your customers.
  • Provides you a complete history of your transactions and communications with your customers.
  • Gives your customers multiple options on how to pay, which lets you get payments faster.
  • Business intelligence tools that create helpful reports and predict the amount of future payments.

Verdict: YayPay is a leading account receivable software in the industry. The users of YayPay have some very nice views about their experience with the customer service provided to them. The software is recommended to mid to large-sized businesses.

Price: Contact directly to get a price quote.

Website: YayPay

#4) SoftLedger

Best for offering a variety of accounting features.


SoftLedger is an accounts receivable collections software, which brings up a variety of features for automated billing, receiving, and paying. The software even lets you pay or receive payments in cryptocurrencies and maintains a record of your profits and losses with crypto exchanges.


  • Automated billing and collection processes.
  • Pay or receive payments in cryptocurrencies.
  • Financial reporting that helps you take judicious actions.
  • Accounts payable feature, that works on an automation and approval basis.

Verdict: SoftLedger is an affordable solution for your accounts receivable requirements. The feature of paying and receiving in cryptocurrencies is a plus point, taking into account the increasing charm for cryptocurrencies.

Price: Contact directly to get a price quote.

Website: SoftLedger

#5) Oracle NetSuite

Best for being an all-in-one financial management software.

Oracle NetSuite

Oracle NetSuite is an accounting software that has automation features for invoicing, billing, receiving, paying, and more. The software can also help you with managing local and global taxes, and reports that can predict future cash requirements.


  • Automated invoicing and payments receiving feature.
  • Automated accounts payable feature.
  • Automated domestic and global tax management.
  • Cash management features that give you data-driven reports on your cash transactions and give predictions for cash requirements.

Verdict: Oracle NetSuite is capable of giving you scalable accounting solutions for your company, that too, at reasonable prices. NetSuite can be a good choice for mid to large-sized businesses.

Price: Contact directly to get a price quote.

Website: Oracle NetSuite

#6) Hyland Solutions

Best for being a user-friendly software.

Hyland Solutions

Hyland Solutions provides accounting and financial solutions for accounts receivable, accounts payable, financial close process, and more. They provide automation features for reporting and payments processing.


  • Helps in the billing process.
  • Keeps a record of the contracts with your customers.
  • Order processing and fulfillment.
  • Automated reporting, payments processing.

Verdict: The software is reportedly easy to understand and has a new age, colorful appearance. It has been named as a Leader in the Gartner Magic Quadrant for Content Services Platforms.

Price: Contact directly to get a price quote.

Website: Hyland Solutions

#7) Dynavistics Collect-it

Best for easy integrations and automation features.

Dynavistics Collect-it

Dynavistics Collect-it is an easy-to-use accounts receivable software, which can assist you in reducing bad debt and DSO. It can also help you in increasing the cash flow and efficiency with the wide range of features that it offers.


  • Gives you a complete communication history with your customers, including invoices, call history, etc.
  • A dashboard with all the information about accounts receivable, potential issues, and much more.
  • Supports multiple entities, languages, and currencies.
  • Business intelligence tools that make data-driven reports for you.

Verdict: Dynavistics Collect-it has got some user-friendly features for small businesses. The automation features are worth appreciating.

Price: Contact directly to get a price quote.

Website: Dynavistics Collect-it

Further Reading => Most Popular Legal Billing Software in the Market

#8) AnytimeCollect

Best for being a 100% cloud-based solution, which lets you work from anywhere.


AnytimeCollect, which has now become Lockstep Collect, is a 100% cloud-based accounts receivable software, which gives you automation features for customer communication and receiving processes.


  • 100% cloud-based system lets you work from anywhere.
  • Automated customer communication.
  • Reach your customers through texts, emails, or automated calls.
  • Billing and invoicing.

Verdict: The users of AnytimeCollect have repeatedly stated that the customer service provided by the software is very nice. The features provided by the software are praiseworthy. The prices are reported to be a bit high. Can be recommended for mid to large-sized businesses.

Price: Contact directly to get a price quote.

Website: AnytimeCollect

#9) FreshBooks

Best for being a complete accounting solution for small businesses.


FreshBooks is known to deliver accounting solutions for small businesses. You can get this accounts receivable software free for 30 days. Then pay according to the suitable price plan. FreshBooks lets you create invoices in seconds and gives you automatic deposits feature to fasten up the receiving process.


  • Accounts payable features, including tracking and paying bills and aging reports.
  • Cash flow reports.
  • Accounts receivable through credit cards or bank transfers.
  • Android/iOS mobile access.
  • Send invoices.

Verdict: FreshBooks is a highly recommended accounting software for small businesses, which offers a nice range of features at affordable prices.

Price: There is a free trial for 30 days.

Price plans are as follows:

  • Lite: $7.50 per month
  • Plus: $12.50 per month
  • Premium: $25 per month
  • Select: Custom Pricing

Website: FreshBooks

#10) QuickBooks

Best for simple and smart accounting solutions.


QuickBooks is accounting software that has got a subtle variety of features to make the accounting processes easy and efficient for you. The services rendered by the software range from receiving payments to organizing, bookkeeping, and much more.


  • Send invoices and receive payments.
  • Track sales and sales tax.
  • Track inventories, project profitability.
  • Business intelligence tools that can give data-driven insights to help you in decision making.

Verdict: QuickBooks is a free accounts receivable software (for 30 days). It is a scalable yet easy-to-use software, loaded with almost all the features you would wish for in accounting software.

Price: There is a free trial for 30 days.

Price plans are as follows:

  • Self employed: $7.50 per month
  • Simple start: $12.50 per month
  • Essentials: $20 per month
  • Plus: $35 per month
  • Advanced: $75 per month

Website: QuickBooks

#11) Xero

Best for affordable accounting solutions.


Xero is popular accounting software and one of the best ones in the industry. The software lets you pay bills, accept payments, track projects, process payrolls, send invoices, track inventories, and much more.


  • Send customized quotes and invoices.
  • Complete history of your bank transactions.
  • Use multiple currencies to send or receive payments.
  • Integrates with Stripe, GoCardless, and others to receive your payments.

Verdict: Xero is an affordable and highly interested accounting solution. It can be highly beneficial for a small business. The customer service is reported to be not up to the mark.

Price: There is a free trial for 30 days.

The price plans are as follows:

  • Early: $11 per month
  • Growing: $32 per month
  • Established: $62 per month

Website: Xero

#12) Bill.com

Best for accounts payable solutions.


Bill.com is a cloud-based account payable and accounts receivable software which is highly demanded by the top accounting firms in the United States. The software saves much of your time and simplifies the payments process to ensure the smooth functioning of your business.


  • Integrates with QuickBooks, NetSuite, Sage Intacct, and other platforms.
  • Billing and invoicing.
  • Pay using ACH payments, international wires, Vendor Direct virtual card payments, or cheques.
  • Send automated reminders and receive digital payments to speed up the process of accounts receivable.

Verdict: Bill.com can be recommended for small businesses. The software is easy to use and less complicated but lacks many features that you would get with other software.


  • $49 per month for the accounting firms
  • Price plans for businesses are:
    • Essentials: $39 per user per month
    • Team: $49 per user per month
    • Corporate: $69 per user per month
    • Enterprise: Custom pricing

Website: Bill.com


The purpose of this article was to educate you about various Accounts Receivable Software and to give you an idea about the best software in the industry so you can choose the one that meets your requirements.

We can conclude that accounts receivable software can prove to be a great asset to your company by saving much of your time and increasing sales and efficiency of operations.

If you want accounts receivable software for a large enterprise, go for Sage Intacct, YayPay, SoftLedger, Oracle NetSuite, AnytimeCollect, or QuickBooks. Xero, Bill.com, Dynavistics Collect-it, Hyland Solutions, and FreshBooks can prove to be wise choices for small to mid-sized businesses.

Suggested reading =>> Quicken vs QuickBooks – A comparison

Research Process:

Time taken to research this article: We spent 10 hours researching and writing this article so you can get a useful summarized list of tools with the comparison of each for your quick review.
Total tools researched online: 20
Top tools shortlisted for review: 11

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