<\/span>What is Accounts Receivable Software?<\/span><\/h2>\n\n\n\nAccounts receivable software is a program that enables businesses to manage and automate their invoicing, payment collection, and other transaction-related processes. Depending on your needs, deployment of the software can be on-premises, software as a service (SaaS), or cloud-hosted.<\/p>\n\n\n\n
Apart from financial and accounting capabilities, some accounts receivable solutions also offer additional features like inventory management and custom branding. The software is beneficial to growing companies as it helps in meeting their financial obligations and improving their market position.<\/p>\n\n\n\n
<\/span>Components of AR Software<\/span><\/h2>\n\n\n\nMain components of an accounts receivable solution include:<\/p>\n\n\n\n
\n- Credit collections management<\/strong>
An accounts receivable solution allows you to optimize the collections process to reduce DSO (days sales outstanding) and improve relationships with your customers.<\/p><\/li>\n\n\n\n
- Invoicing<\/strong>
Create a billing structure as per your requirement and send accurate invoices containing different prices, tax rates, and discounts on time.<\/p><\/li>\n\n\n\n
- Payments and payment gateway<\/a><\/strong>
You can accept customer payments made through credit cards, ACH, debit cards, etc., after integration with a payment gateway. It also ensures regulatory compliance (like PCI-DSS) and streamlines account reconciliation.<\/p><\/li>\n\n\n\n
- Receivable analytics and reporting<\/strong>
With an accounts receivable solution, you can gain an in-depth understanding of the financial health of your business through reports and dashboards. You can also make precise cash forecasting through insights.<\/p><\/li>\n\n\n\n
- Claims & deductions management<\/strong>
Using an accounts receivable system, you can boost your profitability by identifying and resolving issues related to invoices and short payments.<\/p><\/li>\n\n\n\n
- Customer portals<\/strong>
You can reduce the need for customer service by providing self-service portals to customers where they have real-time access to their payment due dates, order history, and more.<\/p><\/li>\n<\/ul>\n\n\n\n
Suggested Read: Best Free and Open Source Accounting Software<\/a><\/strong><\/p>\n\n\n\n<\/span>Comparison of 10 Best Accounts Receivable Software for Businesses<\/span><\/h2>\n\n\n\n\n- FreshBooks<\/a><\/li>\n\n\n\n
- CollBox<\/a><\/li>\n\n\n\n
- Chaser<\/a><\/li>\n\n\n\n
- YayPay<\/a><\/li>\n\n\n\n
- BlueSnap<\/a><\/li>\n\n\n\n
- FundBox<\/a><\/li>\n\n\n\n
- Xero<\/a><\/li>\n\n\n\n
- Wave<\/a><\/li>\n\n\n\n
- Zoho Books<\/a><\/li>\n\n\n\n
- Pipefy<\/a><\/li>\n<\/ul>\n\n\n\n
Here are some of the best accounts receivable software options that you can select from for your business depending on your purpose:<\/p>\n\n\n\n
\n<\/span>FreshBooks<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n![\"Freshdesk\"](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/02\/23131445\/Freshdesk-1024x536.jpg\")
<\/figure><\/div>\n\n\nFreshBooks<\/a> is a highly popular cloud-based accounting software<\/a> that enables small businesses to automate their accounts receivable (AR) and accounts payable (AP) processes.<\/p>\n\n\n\nYou can track billable hours, create invoices, and offer multiple payment methods to customers. It also integrates with other accounts receivable software like FundBox and Tallyfor.<\/p>\n\n\n\n
<\/span>Freshbooks<\/span><\/h3><\/div>\n\n\n\nFreshBooks Features<\/strong><\/p>\n\n\n\n\n- Automatic reminders for late payment<\/li>\n\n\n\n
- Financial reporting<\/li>\n\n\n\n
- Self-serve client portal<\/li>\n\n\n\n
- Multi-currency billing<\/li>\n\n\n\n
- Automatic billing of late fees<\/li>\n<\/ul>\n\n\n\n
FreshBooks Pricing: <\/strong>This accounts receivable system offers a 30-day free trial. Pricing is available on request at techjockey.com.<\/p>\n\n\n\n\n<\/span>CollBox<\/span><\/h3><\/li>\n<\/ul>\n\n\n\nCollBox accounts receivable solution connects to your existing cloud-based accounting software such as Xero and Sage accounting tool<\/a> to identify outstanding invoices.<\/p>\n\n\n\nYou can view all the past-due invoices and choose what to recover in a few clicks. It is commonly used by marketing agencies, construction companies, field services, and so on.<\/p>\n\n\n\n
CollBox Features<\/strong><\/p>\n\n\n\n\n- On-demand service of AR experts & collection agencies<\/li>\n\n\n\n
- Past due account overview<\/li>\n\n\n\n
- Collection offers<\/li>\n\n\n\n
- Live Status tracking<\/li>\n<\/ul>\n\n\n\n
Pricing: <\/strong>Sign up is free. You can get Collect plan by CollBox without any upfront costs if you have invoices that have crossed 90 days past the due date.<\/p>\n\n\n\nRate starts at 25% on successful collections. For recently due invoices, you can purchase Assist plan at INR 18766.13 per month.<\/p>\n\n\n\n
\n<\/span>Chaser<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n![\"Chaser\"](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/02\/23131437\/Chaser-1024x536.jpg\")
<\/figure><\/div>\n\n\nChaser AR automation software aims to help you maintain customer relationships while recovering your debts. You can sync your cloud accounting software<\/a> and submit several collection cases. <\/p>\n\n\n\nIt also keeps track of all your customer communications and integrates with ZohoBooks, QuickBooks Online<\/a>, FreshBooks, etc.<\/p>\n\n\n\nChaser Accounts Receivable Software Features<\/strong><\/p>\n\n\n\n\n- Account management<\/li>\n\n\n\n
- Automated payment invoice reminders<\/a><\/li>\n\n\n\n
- Domain verification<\/li>\n\n\n\n
- AR data import<\/li>\n\n\n\n
- Payment portal<\/li>\n<\/ul>\n\n\n\n
Pricing: <\/strong>It has three plans, namely, Basic, Standard, and Enterprise. You can get a 14-day free trial before purchase. Pricing starts at INR 3001 for up to 50 invoices per month.<\/p>\n\n\n\n\n<\/span>YayPay<\/span><\/h3><\/li>\n<\/ul>\n\n\n\nYayPay AR collections solution is used by businesses for automating routine tasks. It ensures quick payment and helps track accounts receivable via reports.<\/p>\n\n\n\n
The software uses machine learning (ML)<\/a> to enable better planning by predicting payment behavior. It integrates with ERP, billing, accounting, and CRM apps<\/a> to consolidate entire accounts receivables information.<\/p>\n\n\n\nYayPay Features<\/strong><\/p>\n\n\n\n\n- Communications history<\/li>\n\n\n\n
- Customizable credit scorecards<\/li>\n\n\n\n
- Flexible payment options<\/li>\n\n\n\n
- Business intelligence (BI) based reporting<\/li>\n\n\n\n
- Collections management<\/li>\n<\/ul>\n\n\n\n
YayPay Pricing: <\/strong>You can get a demo of this accounts receivable system and pricing details on techjockey.com.<\/p>\n\n\n\n\n<\/span>BlueSnap<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n![\"BlueSnap](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/02\/23131430\/BlueSnap-accounts-receivable-management-software-1024x536.jpg\")
<\/figure><\/div>\n\n\nBlueSnap software enables businesses to create billing structures as per their requirements. Late fee is determined based on custom rules set by the user and applied accordingly. It is pre-integrated with software like NetSuite, QuickBooks, and Microsoft Dynamics<\/a>.<\/p>\n\n\n\nBlueSnap Features<\/strong><\/p>\n\n\n\n\n- Self-service customer portal<\/li>\n\n\n\n
- 100+ payment types<\/li>\n\n\n\n
- WYSIWYG invoice editor<\/li>\n\n\n\n
- eSignatures for quotes, contracts, etc.<\/li>\n<\/ul>\n\n\n\n
BlueSnap Pricing: <\/strong>You can contact their sales team for pricing information.<\/p>\n\n\n\n\n<\/span>Fundbox<\/span><\/h3><\/li>\n<\/ul>\n\n\n\nFundbox AR financing software connects to your accounting software and automates the lending process through machine learning (ML). You can opt for a credit line to fund ongoing expenses and a term loan for a one-time investment.<\/p>\n\n\n\n
It also enables you to simulate scenarios by including potential transactions. You can use Fundbox iOS or Android app for funding on the go.<\/p>\n\n\n\n
Fundbox Features<\/strong><\/p>\n\n\n\n\n- Quick approval decisions<\/li>\n\n\n\n
- Customized cashflow predictions and alerts<\/li>\n\n\n\n
- Standard security protocols<\/li>\n\n\n\n
- Automatic repayments<\/li>\n<\/ul>\n\n\n\n
Fundbox Pricing: <\/strong>Fee is charged at the rate of 8.99% for 24-week and 4.66% for a 12-week repayment plan. It is for the US companies with annual revenue over INR 75.08 lakhs and 600+ FICO score.<\/p>\n\n\n\nThe charge for term loan offering (beta) is 8.33% for 24-week terms and 18% for 52-week terms.<\/p>\n\n\n\n
\n<\/span>Xero<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n![\"Xero\"](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/02\/23131453\/Xero-1024x536.jpg\")
<\/figure><\/div>\n\n\nXero accounting solution<\/a> enables businesses to streamline AP and AR processes. This AR software allows real-time accounts receivables tracking and transactions in over 160 currencies across the world.<\/p>\n\n\n\nYou can use pre-filled information based on inventory to quickly create orders and invoices. Moreover, you can view the details of invoices and payments in a single location.<\/p>\n\n\n\n
<\/span>Xero Accounting Software<\/span><\/h3><\/div>\n\n\n\nXero Accounts Receivable System Features<\/strong><\/p>\n\n\n\n\n- Automatic payment reminders<\/li>\n\n\n\n
- Payment via GoCardless, Stripe<\/a>, etc.<\/li>\n\n\n\n
- Bank reconciliation<\/li>\n\n\n\n
- Automatic sales tax calculations<\/li>\n\n\n\n
- Analytics for financial health<\/li>\n<\/ul>\n\n\n\n
Xero Pricing: <\/strong>It offers a 30-day free trial. There are three plans-Starter, Standard, and Premium. Pricing is available on request at techjockey.com.<\/p>\n\n\n\n\n<\/span>Wave<\/span><\/h3><\/li>\n<\/ul>\n\n\n\nWave accounting<\/a> is a web-based invoicing and accounting solution that enables businesses to create invoices through customizable templates and send them in various currencies.<\/p>\n\n\n\nPayment terms can be set as per your requirement. You can also share statements in case of overdue customer accounts. This AR software works on Windows, Mac, Android, and iOS.<\/p>\n\n\n\n
<\/span>Wave Accounting<\/span><\/h3><\/div>\n\n\n\nWave AR Software Features<\/strong><\/p>\n\n\n\n\n- Estimate to invoice conversion<\/li>\n\n\n\n
- Automatic payment reminders<\/li>\n\n\n\n
- Customer transaction history<\/li>\n\n\n\n
- Tracking payments and overdue invoices<\/li>\n\n\n\n
- Automatic payments for recurring invoices<\/li>\n<\/ul>\n\n\n\n
Wave AR Solution Pricing: <\/strong>It is completely free accounting software. There is no setup or monthly fee. You can get it from techjockey.com.<\/p>\n\n\n\n\n<\/span>Zoho Books<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n![\"ZohoBooks\"](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/02\/23131502\/ZohoBooks-1024x536.jpg\")
<\/figure><\/div>\n\n\n
Main components of an accounts receivable solution include:<\/p>\n\n\n\n
- \n
- Credit collections management<\/strong>
An accounts receivable solution allows you to optimize the collections process to reduce DSO (days sales outstanding) and improve relationships with your customers.<\/p><\/li>\n\n\n\n
- Invoicing<\/strong>
Create a billing structure as per your requirement and send accurate invoices containing different prices, tax rates, and discounts on time.<\/p><\/li>\n\n\n\n
- Payments and payment gateway<\/a><\/strong>
You can accept customer payments made through credit cards, ACH, debit cards, etc., after integration with a payment gateway. It also ensures regulatory compliance (like PCI-DSS) and streamlines account reconciliation.<\/p><\/li>\n\n\n\n
- Receivable analytics and reporting<\/strong>
With an accounts receivable solution, you can gain an in-depth understanding of the financial health of your business through reports and dashboards. You can also make precise cash forecasting through insights.<\/p><\/li>\n\n\n\n
- Claims & deductions management<\/strong>
Using an accounts receivable system, you can boost your profitability by identifying and resolving issues related to invoices and short payments.<\/p><\/li>\n\n\n\n
- Customer portals<\/strong>
You can reduce the need for customer service by providing self-service portals to customers where they have real-time access to their payment due dates, order history, and more.<\/p><\/li>\n<\/ul>\n\n\n\n
Suggested Read: Best Free and Open Source Accounting Software<\/a><\/strong><\/p>\n\n\n\n
<\/span>Comparison of 10 Best Accounts Receivable Software for Businesses<\/span><\/h2>\n\n\n\n
- \n
- FreshBooks<\/a><\/li>\n\n\n\n
- CollBox<\/a><\/li>\n\n\n\n
- Chaser<\/a><\/li>\n\n\n\n
- YayPay<\/a><\/li>\n\n\n\n
- BlueSnap<\/a><\/li>\n\n\n\n
- FundBox<\/a><\/li>\n\n\n\n
- Xero<\/a><\/li>\n\n\n\n
- Wave<\/a><\/li>\n\n\n\n
- Zoho Books<\/a><\/li>\n\n\n\n
- Pipefy<\/a><\/li>\n<\/ul>\n\n\n\n
Here are some of the best accounts receivable software options that you can select from for your business depending on your purpose:<\/p>\n\n\n\n
- \n
<\/span>FreshBooks<\/span><\/h3><\/li>\n<\/ul>\n\n\n
\n<\/figure><\/div>\n\n\nFreshBooks<\/a> is a highly popular cloud-based accounting software<\/a> that enables small businesses to automate their accounts receivable (AR) and accounts payable (AP) processes.<\/p>\n\n\n\n
You can track billable hours, create invoices, and offer multiple payment methods to customers. It also integrates with other accounts receivable software like FundBox and Tallyfor.<\/p>\n\n\n\n
<\/span>Freshbooks<\/span><\/h3><\/div>\n\n\n\n
FreshBooks Features<\/strong><\/p>\n\n\n\n
- \n
- Automatic reminders for late payment<\/li>\n\n\n\n
- Financial reporting<\/li>\n\n\n\n
- Self-serve client portal<\/li>\n\n\n\n
- Multi-currency billing<\/li>\n\n\n\n
- Automatic billing of late fees<\/li>\n<\/ul>\n\n\n\n
FreshBooks Pricing: <\/strong>This accounts receivable system offers a 30-day free trial. Pricing is available on request at techjockey.com.<\/p>\n\n\n\n
- \n
<\/span>CollBox<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n
CollBox accounts receivable solution connects to your existing cloud-based accounting software such as Xero and Sage accounting tool<\/a> to identify outstanding invoices.<\/p>\n\n\n\n
You can view all the past-due invoices and choose what to recover in a few clicks. It is commonly used by marketing agencies, construction companies, field services, and so on.<\/p>\n\n\n\n
CollBox Features<\/strong><\/p>\n\n\n\n
- \n
- On-demand service of AR experts & collection agencies<\/li>\n\n\n\n
- Past due account overview<\/li>\n\n\n\n
- Collection offers<\/li>\n\n\n\n
- Live Status tracking<\/li>\n<\/ul>\n\n\n\n
Pricing: <\/strong>Sign up is free. You can get Collect plan by CollBox without any upfront costs if you have invoices that have crossed 90 days past the due date.<\/p>\n\n\n\n
Rate starts at 25% on successful collections. For recently due invoices, you can purchase Assist plan at INR 18766.13 per month.<\/p>\n\n\n\n
- \n
<\/span>Chaser<\/span><\/h3><\/li>\n<\/ul>\n\n\n
\n<\/figure><\/div>\n\n\nChaser AR automation software aims to help you maintain customer relationships while recovering your debts. You can sync your cloud accounting software<\/a> and submit several collection cases. <\/p>\n\n\n\n
It also keeps track of all your customer communications and integrates with ZohoBooks, QuickBooks Online<\/a>, FreshBooks, etc.<\/p>\n\n\n\n
Chaser Accounts Receivable Software Features<\/strong><\/p>\n\n\n\n
- \n
- Account management<\/li>\n\n\n\n
- Automated payment invoice reminders<\/a><\/li>\n\n\n\n
- Domain verification<\/li>\n\n\n\n
- AR data import<\/li>\n\n\n\n
- Payment portal<\/li>\n<\/ul>\n\n\n\n
Pricing: <\/strong>It has three plans, namely, Basic, Standard, and Enterprise. You can get a 14-day free trial before purchase. Pricing starts at INR 3001 for up to 50 invoices per month.<\/p>\n\n\n\n
- \n
<\/span>YayPay<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n
YayPay AR collections solution is used by businesses for automating routine tasks. It ensures quick payment and helps track accounts receivable via reports.<\/p>\n\n\n\n
The software uses machine learning (ML)<\/a> to enable better planning by predicting payment behavior. It integrates with ERP, billing, accounting, and CRM apps<\/a> to consolidate entire accounts receivables information.<\/p>\n\n\n\n
YayPay Features<\/strong><\/p>\n\n\n\n
- \n
- Communications history<\/li>\n\n\n\n
- Customizable credit scorecards<\/li>\n\n\n\n
- Flexible payment options<\/li>\n\n\n\n
- Business intelligence (BI) based reporting<\/li>\n\n\n\n
- Collections management<\/li>\n<\/ul>\n\n\n\n
YayPay Pricing: <\/strong>You can get a demo of this accounts receivable system and pricing details on techjockey.com.<\/p>\n\n\n\n
- \n
<\/span>BlueSnap<\/span><\/h3><\/li>\n<\/ul>\n\n\n
\n<\/figure><\/div>\n\n\nBlueSnap software enables businesses to create billing structures as per their requirements. Late fee is determined based on custom rules set by the user and applied accordingly. It is pre-integrated with software like NetSuite, QuickBooks, and Microsoft Dynamics<\/a>.<\/p>\n\n\n\n
BlueSnap Features<\/strong><\/p>\n\n\n\n
- \n
- Self-service customer portal<\/li>\n\n\n\n
- 100+ payment types<\/li>\n\n\n\n
- WYSIWYG invoice editor<\/li>\n\n\n\n
- eSignatures for quotes, contracts, etc.<\/li>\n<\/ul>\n\n\n\n
BlueSnap Pricing: <\/strong>You can contact their sales team for pricing information.<\/p>\n\n\n\n
- \n
<\/span>Fundbox<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n
Fundbox AR financing software connects to your accounting software and automates the lending process through machine learning (ML). You can opt for a credit line to fund ongoing expenses and a term loan for a one-time investment.<\/p>\n\n\n\n
It also enables you to simulate scenarios by including potential transactions. You can use Fundbox iOS or Android app for funding on the go.<\/p>\n\n\n\n
Fundbox Features<\/strong><\/p>\n\n\n\n
- \n
- Quick approval decisions<\/li>\n\n\n\n
- Customized cashflow predictions and alerts<\/li>\n\n\n\n
- Standard security protocols<\/li>\n\n\n\n
- Automatic repayments<\/li>\n<\/ul>\n\n\n\n
Fundbox Pricing: <\/strong>Fee is charged at the rate of 8.99% for 24-week and 4.66% for a 12-week repayment plan. It is for the US companies with annual revenue over INR 75.08 lakhs and 600+ FICO score.<\/p>\n\n\n\n
The charge for term loan offering (beta) is 8.33% for 24-week terms and 18% for 52-week terms.<\/p>\n\n\n\n
- \n
<\/span>Xero<\/span><\/h3><\/li>\n<\/ul>\n\n\n
\n<\/figure><\/div>\n\n\nXero accounting solution<\/a> enables businesses to streamline AP and AR processes. This AR software allows real-time accounts receivables tracking and transactions in over 160 currencies across the world.<\/p>\n\n\n\n
You can use pre-filled information based on inventory to quickly create orders and invoices. Moreover, you can view the details of invoices and payments in a single location.<\/p>\n\n\n\n
<\/span>Xero Accounting Software<\/span><\/h3><\/div>\n\n\n\n
Xero Accounts Receivable System Features<\/strong><\/p>\n\n\n\n
- \n
- Automatic payment reminders<\/li>\n\n\n\n
- Payment via GoCardless, Stripe<\/a>, etc.<\/li>\n\n\n\n
- Bank reconciliation<\/li>\n\n\n\n
- Automatic sales tax calculations<\/li>\n\n\n\n
- Analytics for financial health<\/li>\n<\/ul>\n\n\n\n
Xero Pricing: <\/strong>It offers a 30-day free trial. There are three plans-Starter, Standard, and Premium. Pricing is available on request at techjockey.com.<\/p>\n\n\n\n
- \n
<\/span>Wave<\/span><\/h3><\/li>\n<\/ul>\n\n\n\n
Wave accounting<\/a> is a web-based invoicing and accounting solution that enables businesses to create invoices through customizable templates and send them in various currencies.<\/p>\n\n\n\n
Payment terms can be set as per your requirement. You can also share statements in case of overdue customer accounts. This AR software works on Windows, Mac, Android, and iOS.<\/p>\n\n\n\n
<\/span>Wave Accounting<\/span><\/h3><\/div>\n\n\n\n
Wave AR Software Features<\/strong><\/p>\n\n\n\n
- \n
- Estimate to invoice conversion<\/li>\n\n\n\n
- Automatic payment reminders<\/li>\n\n\n\n
- Customer transaction history<\/li>\n\n\n\n
- Tracking payments and overdue invoices<\/li>\n\n\n\n
- Automatic payments for recurring invoices<\/li>\n<\/ul>\n\n\n\n
Wave AR Solution Pricing: <\/strong>It is completely free accounting software. There is no setup or monthly fee. You can get it from techjockey.com.<\/p>\n\n\n\n
- \n
<\/span>Zoho Books<\/span><\/h3><\/li>\n<\/ul>\n\n\n
\n<\/figure><\/div>\n\n\n
- CollBox<\/a><\/li>\n\n\n\n
- Invoicing<\/strong>
![\"Features](\"https:\/\/cdn.techjockey.com\/blog\/wp-content\/uploads\/2022\/10\/07131618\/Features-to-Look-for-in-Accounts-Receivable-Software_infographics.png\")
<\/figure><\/div>\n\n\n