Best Account Receivable Software
An expanding business usually has a growing customer base and managing accounts receivable can be time-consuming and distracting at times. Accounts Receivable software can efficiently and accurately handle this process with speed, transparency, and ease. There are many accounts receivable software options you can consider to make the AR process easier and a few of them are listed here.
1- Upflow
Upflow is a top-rated accounts receivable software designed to streamline collections for B2B companies. With its real-time key metrics and personalized payment reminders, you can save time and minimize late payments, especially with the accounts receivable automation. Moreover, Upflow seamlessly integrates with popular accounting systems such as Quickbooks, Xero, Stripe Billing, and Netsuite, providing you with a unified view of your A/R data. You’ll be impressed by the time and money saved on admin tasks using this tool. With Upflow, you can understand your company’s financial health, gain greater visibility into your collections, reduce your DSO, and plan for growth with confidence.
2- QuickBooks
QuickBooks Online from Intuit is a suitable choice for a variety of businesses, especially those planning to work with bookkeepers or accountants. It offers four plans with comprehensive features including complete record keeping, extensive reporting, effective invoicing and inventory management, and a functional mobile app. It integrates with numerous third-party apps and allows easy sharing with accountants. Though it has a user-friendly interface, it may have a steep learning curve for those unfamiliar with accounting principles which you can learn from its online resources.
3- Melio
Melio simplifies and streamlines the process of B2B payments. It is a highly reputable platform that enables you to send personalized invoices to your clients for digital payment. With Melio, you can effortlessly match incoming payments with the corresponding invoices, and manage all your invoices in one place, even offering discounts to your customers if desired. If your client prefers to pay by card and you do not accept card payments, Melio will handle the payment for you and send you the funds via check or bank transfer.
4- Wave Accounting
Wave is an ideal choice for micro-businesses, contractors, and freelancers to manage their invoicing, billing, payment tracking, payroll, and finance management with ease. This financial management platform is fully functional and user-friendly for everyone – even if you have no prior accounting experience. You can integrate all your bookkeeping, accounting and invoicing processes in one place. With Wave’s dashboard you can view the records of your outstanding and completed payments in real-time to understand your company’s financial health and make informed decisions.
5- Zoho Books
Zoho Books is an affordable cloud accounting software that offers a comprehensive set of functionalities to manage accounts receivable processes. It integrates pretty well with other apps allowing businesses to build an integrated infrastructure on a modest budget. Zoho further allows you to provide your customers with accurate estimates and invoices and your vendors with purchase orders.
6- Tesorio
Tesorio simplifies cash flow forecasting and collections for businesses by offering real-time predictions and actionable insights based on behavioral trends. Its Accounts Receivable product streamlines collections by automating processes and providing valuable information for communication with customers. Tesorio integrates with various ERP systems to ensure prompt follow-up on invoices, allowing teams to prioritize their most strategic accounts. The benefits of using Tesorio include a decrease in DSO, three times improvement in collections efficiency, 75% reduced time spent on low-value activities, four times increased reach to customers.
7- Synder Accounts Receivable Software
Synder is a must-have software for managing your accounting if you have multiple sales channels for your business. It integrates 14 payment processors and accounting platforms, including Shopify, PayPal, QuickBooks, and Xero, so you can synchronize all your e-commerce platforms within one account and interface.
With Synder, you can:
- Automatically import transactions from platforms like Shopify, Stripe, and PayPal into QuickBooks or Xero, with all the details.
- Get a detailed report with automatically categorized transaction data, such as fees, taxes, and discounts, with the option to correct errors with a click.
- Reconcile your accounts easily with a one-click process.
- Create and send invoices to customers, and accept payments through social media pages with simple payment links.
