Best Accounts Receivable Software
Accounts receivable (AR) software streamlines invoicing and payment processes to help ensure customers pay for goods/services received. Key benefits include:
- Automating high-volume customer transactions (invoices, credits, payments, etc.)
- Matching documents like quotes, orders, invoices for accuracy
- Customizable workflows and approval rules
- Integration with accounting/ERP solutions
- Reporting on AR status, customer credit, transaction history
- Improving cash flow and profitability
Quality AR solutions capture transactions with minimal manual input, provide customizable processing workflows, integrate with financial systems, and deliver actionable analytics. AR automation is essential for efficient processing, cash flow, regulatory compliance, and optimizing the order-to-cash cycle. This summary outlines key capabilities of accounts receivable software and how it creates value.
Featured Software
List of 0 Best Softwares
FAQs of Accounts Receivable Software
Accounts receivable software is used to track, manage, and collect payments owed to a business by its customers. Common features include invoicing, receipt tracking, collections, reporting, and integrations with accounting systems.
It helps you get paid faster, reduce outstanding payments and bad debt expense, save time on manual tasks so staff can focus on revenue-generating activities, and gain better insights into customers and cash flow.
Many accounts receivable systems seamlessly connect with popular solutions like QuickBooks Online, Sage, Xero, and NetSuite. API connections and cloud-based access enables real-time syncing of AR data.
Reputable vendors incorporate advanced security provisions like data encryption, role-based access controls, SOC 2 compliance, and backup systems to keep your data private while allowing for anytime, anywhere access.
Cost varies widely based on features, number of users, and additional services. Budget around $40-$100+ per user per month. Often lower for basic systems and higher for advanced enterprise platforms.