Finding software can be overwhelming. We've helped many small businesses choose the right accounts receivable software so they can manage cash flow and improve customer relations.

Showing 1-20 of 205 products

NetSuite

NetSuite is a business management software suite offered as a service that performs enterprise resource planning (ERP) and customer relationship management (CRM) functions. It is a horizontal package designed for an extensive range... Read more

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Recent recommendations: 50 recommendations

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Deployments: Cloud
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Sage IntacctFrontRunners 2020

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insights... Read more

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Recent recommendations: 32 recommendations

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Multiview

Multiview Financials is the flagship ERP system developed, sold, implemented, and supported by Multiview Financial Software. Multiview is designed for organizations ranging in size from rapidly growing small businesses to large enterprises... Read more

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Recent recommendations: 29 recommendations

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Deployments: CloudOn premise
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FINSYNC

FINSYNC provides multi-user cash flow management in the cloud to US-based small and medium-sized businesses. Businesses can upgrade from payments to invoicing, bill pay, payroll, project tracking, time tracking, expense reimbursement,... Read more

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Recent recommendations: 29 recommendations

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Striven

Your cloud-based, all-in-one business management solution. Striven is ready for your business right out of the box. With fully integrated accounting, CRM, inventory, project management, human resources features, it's the only software... Read more

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Recent recommendations: 18 recommendations

Platforms: MacWinLinux
Deployments: Cloud
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AccuFund Accounting Suite

AccuFund is an online accounting and financial reporting solution designed specifically for the nonprofit industry. Integrated into one, AccuFund's Accounting suite helps nonprofit organizations and government agencies report funding... Read more

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Recent recommendations: 16 recommendations

Platforms: MacWin
Deployments: CloudOn premise
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Aplos

Aplos fund accounting is a cloud-based system designed specifically to serve the needs of churches and nonprofit organizations. Aplos fund accounting is available on a standalone basis or within an integrated suite with online donation... Read more

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Recent recommendations: 15 recommendations

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Financial Edge by Blackbaud

Financial Edge NXT is a cloud accounting solution from Blackbaud that provides transparency across teams, security, compliance, and reduces the need for manual processes. The system is a fund accounting solution that provides a general... Read more

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Recent recommendations: 9 recommendations

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Sage 50cloudFrontRunners 2020

Sage 50cloud (formerly Peachtree Software) is a comprehensive accounting solution for small business. It provides core functionality, such as A/R and A/P, customer management and financial reporting. Premium features, such as detailed... Read more

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Recent recommendations: 6 recommendations

Platforms: Win
Deployments: CloudOn premise
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DENALI Business

Cougar Mountain Software’s Denali Business is an accounting solution with the ability to customize 10 integrated modules. It is for small to midsize businesses and can be deployed on premises or in the cloud. Key features include... Read more

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Recent recommendations: 4 recommendations

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Deployments: CloudOn premise
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AccountMate

AccountMate is a hybrid accounting solution that caters to small and midsize businesses and offers them tools and functionalities, which help them to manage their financial procedures and routines. The solution provides multiple modules... Read more

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Recent recommendations: 4 recommendations

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Deployments: CloudOn premise
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Sage 100 Contractor (formerly Sage Master Builder)

Sage 100 Contractor, formerly known as Sage Master Builder, focuses on small to midsize construction companies, whether they are a general contractor, service or specialty contractor or a home builder. Suitable for companies that... Read more

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Recent recommendations: 3 recommendations

Platforms: Win
Deployments: On premise
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FinancialForce Financial Management

FinancialForce Financial Management (FM) is a cloud-based system built to provide a complete financial management solution for sales and services-orientated companies of all sizes. FinancialForce FM has several inherent applications,... Read more

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Recent recommendations: 3 recommendations

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Deployments: Cloud
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RealPage

RealPage is a cloud-based property management solution suitable for businesses of any size. Key features include accounting, budgeting, facilities maintenance, purchasing, document management and reporting. RealPage enables users... Read more

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Recent recommendations: 3 recommendations

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Deployments: Cloud
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Banyon Fund Accounting

Banyon Data has 37+ years experience developing fund accounting software for the public sector.  The software is a great fit for small to midsize entities looking to enhance budget tracking and make the overall accounting process... Read more

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Recent recommendations: 3 recommendations

Platforms: Win
Deployments: On premise
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Oracle JD Edwards

Oracle JD Edwards EnterpriseOne is a cloud-based Enterprise Resource Planning (ERP) and supply chain management solution that provides ERP applications and tools for finance, consumer goods, human resources, distribution and manufacturing... Read more

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Recent recommendations: 2 recommendations

Platforms: MacWinLinux
Deployments: On premise
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24SevenOffice

24SevenOffice is a cloud-based Accounting and ERP system for small and mid-sized businesses. 24SevenOffice eliminates repetitive processes and greatly reduces the need to manually enter information. The system will also streamline... Read more

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Recent recommendations: 2 recommendations

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Flexi Software

Flexi is an on-premise as well as a cloud-based accounting solution for the banking, insurance, healthcare and service industries. The Flexi accounting solution features automation of accounting process and completion of audit trails... Read more

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Recent recommendations: 2 recommendations

Platforms: Win
Deployments: CloudOn premise
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Connected Accounting & ERP

Connected is a hybrid integrated accounting and enterprise resource planning (ERP) that caters to small and midsize businesses across various industry verticals and helps them to integrate their data and processes across departments... Read more

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Recent recommendations: 2 recommendations

Platforms: MacWin
Deployments: CloudOn premise
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Infor CloudSuite Financials

Infor CloudSuite Financials is a solution suite that provides financial functionality coupled with a source-to-settle supply management offering. The solution is role-based, mobile responsive and delivered in the cloud. It delivers... Read more

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Recent recommendations: 2 recommendations

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Buyers guide


Last Updated: July 2, 2020

Accounts receivable software automates a business’s invoicing and collections processes. As a result, businesses can better manage their cash flow cycle, increase accuracy and improve customer relations.

This guide will help you understand the role of accounts receivable software within the larger accounting software market, so you can make a more informed purchase decision. Here’s what we’ll cover:

What Is Accounts Receivable Software?
Common Functionality of Accounts Receivable Systems
Market Trends to Understand
The Vendor Landscape
What Type of Buyer Are You?

What Is Accounts Receivable Software?

Accounts receivable software is one application among many under an umbrella category called “core accounting.” This core package contains all the basic functions required for a business to manage its finances, including:

Core Accounting Applications

Accounts Receivable | Core Accounting Applications
  • General ledger (GL): Record of a business's financial transactions, used to prepare financial statements and reports. GL includes statements on assets, liabilities, equity, revenue and expenses.
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  • Accounts receivable (AR): Money owed to a business, but not yet paid, for goods and services rendered; i.e., “assets.”
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  • Bank reconciliation: Connects and compares bank account records to the account holder’s records (i.e., general ledger) to ensure that each record is accurate and balanced.
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  • Fixed assets: Includes tangible items or property that the business owns and uses in its day-to-day operations, e.g. buildings or equipment. These assets are expected to be in use for longer than a year.
  •  
  • Accounts payable (AP): Money owed by a business to its suppliers and creditors; i.e., “liabilities.”
  •  

Common Functionality of Accounts Receivable Systems

Common capabilities of accounts receivable solutions include:

Invoicing Create and send invoices for goods and services provided. Some systems allow users to set up recurring invoices to be automatically sent out on a specific schedule.
Payment options Accept payments in various forms, including cash, check, electronic funds transfer or credit card. Some systems include integration with various merchant or payment services such as PayPal.
Customizations Design custom invoice templates. Create professional-looking invoices by adding company logo, including payment terms (e.g., Net 15, Net 30) and client information. Often includes options for multi-currency invoicing.
Contact management Track paid versus outstanding balances. Some online invoicing systems allow users to see when customers view an invoice or send reminders when invoices are coming due or are late.
AR analytics Analyze AR data through configurable dashboards, reports and data visualization tools such as charts and graphs. Gain insights into customer aging, deferred revenue, recurring invoices and more.
Mobile apps Access AR data through mobile apps for iOS, Android or Windows phones. Send invoices, payment reminders etc. from mobile devices.

Market Trends to Understand

Prospective AR software buyers should be aware of the following market trends surrounding on-premise and cloud-based accounting solutions:

While “accounting” as a horizontal market has historically been slow to move to the cloud, we’ve found that consumers are growing increasingly confident using cloud-based accounting solutions:

In 2015, 30 percent of small and midsize businesses (SMBs) reported using cloud-based accounting software compared with just 16 percent in 2014.

The largest percentage of SMBs surveyed in 2015 (43 percent) still use on-premise solutions, but the gap between these users is closing. Prospective AR software buyers should weigh their concerns versus the potential benefits and invest in a solution that best fits their needs.

For example, the top benefits and concerns cited by users in this survey include:

Top Benefits of Cloud-Based Accounting Software Top Concerns With Cloud-Based Accounting Software
33 percent: Ease of access 28 percent: Security of data
28 percent: Security/safety 21 percent: Ease of use
24 percent: Ease of use 16 percent: Learning a new system

(Source: Consumer Confidence in Cloud-Based Accounting - 2015. Click here to read the full report detailing the benefits and potential issues of cloud-based accounting.)

Examples of highly rated cloud-based systems include:

Examples of highly rated on-premise solutions include:

The Vendor Landscape

AR software can be purchased in one of the following ways:

Standalone, or best-of-breed AR solutions focus entirely on invoicing clients for the goods and services provided. A business might choose to purchase a standalone AR system for several reasons.

For example, a standalone system might appeal to a business using an accounting platform that doesn’t support online invoicing. Online invoicing platforms, such as Xero, allow businesses to send out automatic, recurring email invoices. Customers can click the payment link from the email and pay directly via credit card or online payment service, such as PayPal.

Businesses purchasing standalone AR software should first ensure that the solution integrates with the other accounting systems current in place. Specifically, the other applications within the suite of “core accounting”: Accounts payable (AP), general ledger (GL), bank reconciliation, etc. This ensures that the general ledger stays up-to-date with assets and liabilities and the bank records reflect transactions accurately.

Offered in suite means that AR is one application included as part of a larger accounting system. Most commonly, this would include the remaining applications under the “core accounting” umbrella: AP, GL and bank reconciliation.

However, more advanced systems will often have budgeting and forecasting capabilities as well as financial reporting, including expense reports, profit and loss statement and balance sheets. The AR data feeds into these modules and allows businesses to forecast future revenue based on past performance.

What Type of Buyer Are You?

AR software is critical for many businesses. But what type of buyer are you and which solution best fits your needs? Here a few examples:

Self-employed: Freelancers, contractors and solo entrepreneurs need a way to manage both their personal and business expenses—often from the same account. Software solutions such as Quickbooks Self-Employed or Quicken Home and Business help users track income and expenses and separate transactions as either business or personal.

These solutions can also help categorize and track IRS Schedule C tax deductions, such as business travel expenses or advertising, making it easy to calculate and submit taxes. Additionally, both these solutions allow users to export data directly to TurboTax, a popular tax solution for self-employed individuals.

SMB buyers: This group represents the largest percentage of buyers who contacted Software Advice for accounting software recommendations in 2015: A combined 66 percent of these businesses earn $50 million or less in annual revenue.

Many SMB buyers are looking to purchase their first accounting solution to streamline and automate AR processes. Growing SMBs may want a more sophisticated solution that offers a payroll module or industry-specific functionality.

Some vendors, such as Intuit, offers a range of accounting solutions that support the varying needs of SMBs (click here to check out our breakdown of Intuit’s many Quickbooks offerings).

Enterprise buyers: Large, enterprise-level organizations require accounting functionality that is best met by advanced financial management platforms such as Intacct or NetSuite.

These solutions facilitate both short and long-term accounting needs, including core accounting, financial reporting and budgeting and forecasting. Most also offer a degree of payroll management and support industry-specific needs such as inventory management and fund accounting.

FrontRunners

Your Guide to Top Accounts Receivable Software, March 2020

Software Advice uses reviews from real software users to highlight the top-rated Accounts Receivable Software products in North America.

Learn how products are chosen

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“Usability” includes user ratings for Functionality and Ease of Use.“Customer Satisfaction” includes user ratings for Customer Support, Likelihood to Recommend and Value for Money.Reviews analysis period: