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Accounts Receivable Software

Accounts receivable software modules track the money owed to you. With AR software accounting functionality, it’s easier to manage client payments and apply interest rates. Accounts receivable software keeps receivables data current, accurate, and centralized. This guide provides a practical how-to for selecting the right AR software to ensure full receivables collection with a minimum of time and expense investment.

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The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

What is Accounts Receivable Software?

Accounts receivable management software provides the ledger and related functionality for managing money owed to an organization by its customers.

Using the right AR software enables organizations to:

  • Decrease the labor costs associated with recording and collecting customer payments via improved automation and efficiency
  • Increase the percentage of owed receivables captured via standardization and refinement of collection best practices (set timetables for escalation of collections activities, alerts for late payments, etc)
  • Improve the percentage of owed receivables captured by making collections communication easier with integrated collections messaging and message templating
  • Make more cash available to the business by decreasing the average time customers take to pay

Key Accounts Receivable Software Features

Functionality Definition
AR records creation Accounts receivables software allows for creation of the records that track customer payment obligations
Customer database management The customer database enables tracking of customer information such as name, contacts, preferred payment method, address, etc
Aging reports Aging reports allow users to report on AR records by the number of days they are outstanding
Records/account lookup and filtering The ease with which the AP database can be searched and filtered can affect the effectiveness of company bill collection efforts
Invoice creation Invoices will document information such as who is being billed, for what, when payment is due, what the terms for customer payment are, what payment methods are acceptable, cost breakdowns for items and services and tax, etc
Flexible interest & late fee application Interest terms specify how much the customer will be charged in late fees if payment is not prompt
Recurring billing support Allowing customers to set up recurring payment via ACH or other methods promotes higher collection rates and decreases the time spent collecting customer payments
Early payments discounts Support for early payment customer discounts can be an important part of a company’s value proposition for improving customer satisfaction and securing a competitive advantage
Dunning letter templates Dunning letters are collection letters; dunning letter templates can be used to reduce the amount of time spent by employees when collecting overdue customer balances
Billing/collection email integration The ability to create and send emails from an accounts receivable module can improve workflows and efficiency related to collection activity
Collection call scripts Providing employees with call scripts for collection calls can improve collection rates and ensure quality in a sensitive phase of customer relations
Collection escalations Features providing dynamic workflows for intensifying collection activities (including more frequent calls/mailings or involving more senior employees) can improve collection rates
Credit verification The ability to trigger credit checks and receive credit checks results within the AR module can improve the efficiency of the process and the management of related data

Accounts Receivables Software Improves Cash Flow

In any size or type of business cash is king. Successful operations place extreme care in managing cash flow. You need reliable methods for extending credit to credit worthy customers. You also need a way to keep close watch of unpaid customer invoices. Accounts receivable software is designed to help you manage customer credit and assure you’re paid on a timely basis. Since it’s these payments that fuel your business, it’s important to select the right software to record, manage, and track your receivables.

AR Software Yields Improved Customer Relations

Your accounts receivable module does more than just track receivables entries, though. It also provides you with an ongoing customer database. The master customer list stores individual customer records with contact info, addresses, terms, and other customer data. Each time you post a receivables entry it is associated back to a customer. Using sorting and filtering capabilities, you can easily identify customers in good standing or with late payments. With increased reporting ease you’ll be able to quickly update yourself with the information you need to make key business decisions.

Improve Your Customer Credit Management with Accounts Receivable Software

You may not think of it exactly in these terms, but accounts receivable is essentially a record of the short term credit you extend to your customers. Just like a bank making loans, you need to determine who is credit-worthy and who isn’t. You also need a set of processes in place to ensure the recovery of the credit you’ve issued. Most businesses bill with terms. Accounts receivable software allows you to apply these terms and perform interest calculations.You don’t need to pull multiple spreadsheets to figure out which payments are overdue and how much interest you should charge, when you have the right software in place.

Sharpen Your Understanding of Your Financial position

Understanding your current and projected cash positions enables you to make smart business decisions. Your accounts receivable software ensures the accuracy of the data upon which you’ll base those decisions.

  • Who owes you money?
  • How much money is owed?
  • What is your expected cash flow?

Accounts receivable software answers these and other critical questions about the income you receive from your clients.

Popular Accounts Receivable Software Products

Looking for great accounts receivable software options? Below you can check out a list of the products most commonly considered by others searching for accounts receivable software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • BillQuick by BQE Software

    Flexible, Award-Winning Billing—Choose from 150+ invoice templates that organize your information beautifully. Automate bills to go out on the schedule of your choice to keep cash flow coming in smoothly. "The Select Items in reports will...

  • Dynamics GP by Microsoft

    Microsoft Dynamics GP is an ERP solution designed for small and mid-market businesses. Key capabilities of Dynamics GP include: Financial management and accounting Inventory management and...

  • FinancialForce Billing by FinancialForce.com

    Create invoices in one click straight from CRM or any object! Get invoices out quickly and accurately without re-keying, spreadsheets or special integrations. FinancialForce Billing works with FinancialForce Accounting or your ERP system of...

  • Bill.com by Bill.com

    Bill.com is specifically designed to automate the most tedious operations of any small business: Payables and Receivables. The web-based nature of Bill.com will enable you to work on your financials from anywhere in the world, at any point in time....

  • Sage 100 Contractor by Sage

    Sage 100 Contractor is an integrated business management and accounting system for general and engineering contractors and subcontractors of all trades. The software includes estimating, scheduling, project management, equipment management, payroll,...

  • Dynamics SL by Microsoft

    Microsoft Dynamics SL (formerly Microsoft Business Solutions—Solomon) is designed to meet the specific business management needs of project, service, and distribution-driven organizations, including companies in these industries:...

  • Sage 100 by Sage

    Drive growth with enterprise resource planning (ERP) software that helps you run your business better. Sage 100 is an innovative, flexible solution for growing businesses with a low total cost of ownership which offers modern architecture, robust...

  • NetSuite ERP by NetSuite

    NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as "the world's most deployed cloud ERP" solution. NetSuite ERP is used by over...

  • Emagia Enterprise Receivables Management Suite by Emagia

    Cashflow is the lifeblood of any business. Today’s corporations face tremendous pressure to maximize receivables performance. Also known as trade credit, receivables are the most cost efficient resources to accelerate the cash flow. Lack of...

  • Intacct by Intacct

    Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits of Intacct include: Automation of manual processes enabling faster delivery of accurate...

  • Sage 500 ERP by Sage

    Maximize your operations, insight and competitive advantage to stay ahead of the pack. Sage 500 ERP solutions (formerly Sage ERP MAS 500) provides customizable enterprise resource planning software designed to run every business function at peak...

  • Anytime Collect by e2b anytime apps

    Anytime Collect is a cloud-based accounts receivable collections management system integrated to popular accounting systems from leading publishers such as Intuit, Sage Software, Epicor, and more. Anytime Collect enables finance professionals to...

  • AR Collections Manager by Progressive System Solutions

    Track your customer collections efforts within SL. Collection screen allows you to view all documents owed by a customer. Enter collection notes for one or all outstanding invoices. Update Promised Pay date and print reports of contacts made....

  • Sage 300 by Sage

    Sage 300 is a business management software solution designed for small and medium-sized businesses. Critical program functionality includes support for accounting, sales, service, purchasing, and inventory management tasks. Sage 300 helps...

  • Dynamics NAV by Microsoft

    Dynamics NAV is an ERP product developed by Microsoft for small and mid-market companies. The solution offers product functionality covering financial management, supply chain management, manufacturing, project management, and service...

  • SAP Business One by SAP

    SAP Business One provides comprehensive business management capabilities for small and medium sized companies. 50,000 plus companies utilize SAP Business One to provide integrated departmental support for finance, sales, supply chain,...

  • TRAVERSE by Open Systems

    TRAVERSE is an ERP system from Open Systems, Inc. offering financial, operations, and sales functionality. Traverse provides comprehensive integration for key business processes, while offering the ability to scale from 5 to 500 users....

  • Acumatica ERP by Acumatica

    Acumatica is a cloud ERP system designed for the SMB market. Acumatica includes functionality for financial management, customer management, project accounting, distribution management, manufacturing management, field service management, and...

  • Adagio Accounting Suite by Softrak Systems

    Adagio Accounting is a multi-ledger, modular accounting system that provides best-in-class audit controls and financial reporting capabilities. It is designed for small and mid-sized businesses that process significant volumes of transactions –...

  • QuickBooks Enterprise by Intuit

    QuickBooks Enterprise Solutions offers the most comprehensive business management tools for growing businesses with up to 30 simultaneous users. Enterprise Solutions allows you to customize any of the 120+ built-in Reports and forms to look the way...

  • Sage 50c Accounting ‑ US by Sage

    Sage 50 is a small business accounting program. Originally known as Peachtree Accounting, Sage 50 is one of the most popular, inexpensive, and long-running accounting software options on the market. Sage 50 is designed to help small...

  • Sage ERP X3 by Sage

    Sage ERP X3 is the most powerful and flexible business management solution offered by Sage. It empowers mid-sized and larger companies within the manufacturing and distribution industries with the ability to grow a competitive business with limited...

  • BillingMatters® by LexisNexis®

    Billing Matters® has the features that make Time Matters® the most award-winning, most widely used Practice Manager, plus everything you ever wanted in billing. Firms needing basic billing can generate a bill and post a payment in one easy step...

  • Denali Business+Accounting by Cougar Mountain Software

    Everything you expect from a leading business accounting solution, plus the tools to manage cash flow, monitor profitability, analyze trends, track inventory, and make informed financial decisions based on real-time accounting data. Let us show you...

  • WebAR by InterProse

    WebAR is an SAAS/SOA/ASP Internet based multi-function accounts receivable management platform and collection system designed for multiple industries: collection agencies, healthcare providers, retailers, government agencies, utility companies,...

  • ezyCollect by ezyCollect

    Introducing ezyCollect, a secure cloud based application that integrates with your accounting software, and then streamlines and automates your collection process, so you get paid faster with less effort. The result, improved cash flow and...

  • BillZap by BillZap

    Track Payments, Manage Customers, & Get Paid Faster. BillZap is a payments platform for businesses. Save time, money and paper by transacting paperlessly. Manage Customers & Payments Who paid and who owes? Browse your data in...

  • Business ByDesign by SAP

    The SAP Business ByDesign cloud-based solution (formerly referred to as code name A1S) is a new addition to the SAP offerings for small businesses and midsize companies. It is targeted to the unmet needs of these enterprises, which have...

  • Sage BusinessWorks Accounting by Sage

    Best suited for: - Small companies with 10-50 employees If you're looking for an accounting system that virtually anyone can use, provides extensive reports instantly, and can grow with your business, then Sage BusinessWorks Accounting...

  • Deltek Vision by Deltek

    Powerful Software for Project-Related Businesses At any given moment, effective decision-makers need to understand how your business is performing, why problems occur, the impact on the business, and what you can or should do to enhance...

  • SYSPRO 7 by SYSPRO

    SYSPRO - Software You Can Count On Every day thousands of people on six continents rely on SYSPRO for information, functionality and technology. Formed in 1978, SYSPRO has stood the test of time as a company and as a business solution for...

  • Infor SyteLine by Infor

    Infor SyteLine is the solution of choice for over 5,000 manufacturers around the world. From repetitive to engineer-to-order, Infor SyteLine enables the processes you need to accelerate production and meet customer demand more quickly. Infor...

  • Macola by Exact

    Macola has provided software solutions to thousands of small and medium-sized manufacturers and distributors for over 40 years. Our solutions help organizations increase revenue, reduce costs, mitigate risk, improve operational efficiencies, and...

  • ALERE Accounting by TIW Technology

    ALERE Accounting contains the features you need to grow your business. Everything from keeping track of complex inventories, processing customer orders and managing payables, to providing sophisticated general ledger financial controls. ALERE does...

  • E‑Syst by Rennie, Lindsey and Associates

    Wholesale distribution package includes the applications listed below Accounts Payable Accounts Receivable Customer Service Foreign Currency General Ledger Inventory Control Purchase Order Processing Sales...

  • Epicor Prophet 21 by Epicor Software

    Epicor Prophet 21, a leading enterprise software solution for distributors, combines the power of Microsoft® SQL Server® and the familiarity of Windows® in a solution designed to meet distributors’ specific business needs. Epicor Prophet 21...

  • xTuple by xTuple

    Use xTuple on-the-go, anytime, anywhere. xTuple’s multi-client approach empowers customers to leverage today's — and tomorrow's — technology, especially employee preferences to BYOD (bring your own device). Users may access xTuple via our...

  • Unanet Project Tracking by Unanet

    Unanet Project Tracking enables the anytime and anywhere collection, and real time reporting, on labor hours and expenses from web-based timesheets and expense reports. More than 700 organizations have adopted Unanet including government...

  • AccuFund Accounting Suite by AccuFund

    Accounting software for non-profits, municipalities and other government agencies is the specialty of AccuFund. The AccuFund Accounting Suite is powerful, flexible and affordable financial reporting and accounting software designed specifically for...

  • SouthWare Excellence Series ‑ ERP Software by SouthWare Innovations

    SouthWare Excellence Series - ERP Software SouthWare combines traditional accounting functions with innovative products and services to make work easier for organizations of all sizes in many industries. Our family of integrated financial and...

  • VersAccounts Cloud ERP by VersAccounts

    VersAccounts was created to bring the power of a modern full-function ERP system to even the smallest business that needs it. It is a recognition of the fact that even small businesses with modest budgets have business operations that are every bit...

  • DS90 by Software Concepts

    DS90 is an integrated and comprehensive software application ideal for small and emerging businesses. It is comprised of ten modules optimized for the IBM iSeries i5 server family, and includes a function-rich suite of applications available in both...

  • Infor CloudSuite Business by Infor

    *Power your company with a cloud-based operations platform built for speed, agility, and growth.* Strategic decision-making is essential for any small or medium size organization, no matter if it’s B2B or B2C. Next-generation companies thrive...

  • ArchAdministrator by PS Software Solutions, LLC.

    Designed by architects and specifically for Architectural and Engineering (A/E) firms, ArchAdministrator has harnessed the power of the multi-layered relational database to simplify the task of recording, organizing, and analyzing the wide variety...

  • Executive Series by Searer Business Technology

    Executive Series Executive Series is a completely integrated accounting solution with strong drill down capabilities. Executive Series is fully customizable through source code to meet the unique needs of your company. Standard features...

  • Multiview by Multiview

    For organizations seeking a solution that easily conforms to their existing operations, Multiview offers a flexible, integrated suite of financial solutions. With Multiview , companies gain superior visibility over corporate data, creating a more...

  • Visual Ledger by Aboard Software

    Visual Ledger is a robust, very scalable and perfectly priced ERP software package that addresses the present and future needs of your growing business. The system incorporates as standard features many unique features that are either not...

  • Cforia Software by Cforia

    Credit, Collections, Chargeback and Cash Application Management optimization projects touch many levels within an organization. The success of any company centers around the ability of these departments to work together and collaborate on key...

  • eTEK Construction Systems by eTEK International

    For close to 20 years, eTEK has offered a broad range of accounting & business management systems designed specifically for general contractors in the construction industry. Systems are available for either cloud-based, traditional LAN-based, or a...

  • Epicor E10 ERP by Epicor Software

    Guided by the need of today’s users, Epicor ERP is a global enterprise resource planning solution that delivers the choice, flexibility and agility to drive growth and opportunity throughout your business. Track, measure, and monitor your...

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