Accounts Receivable Software
What is Accounts Receivable Software?
Accounts receivable (AR) software is a type of software that helps businesses track and manage their accounts receivable. AR software can automate many of the tasks involved in AR, such as sending invoices, tracking payments, and managing collections. This can help businesses save time and money, and improve their cash flow.
Filter
Showing all 12 results
ActivityHD is a comprehensive accounting system developed by AccountingWare to provide businesses with flexibility and enhance decision-making.
DealerCenter is a comprehensive cloud-based dealer management software that is designed to meet the needs of businesses of all sizes in the automobile industry.
Deltek Vision is a comprehensive project management solution specifically designed for professional services businesses.
Denali Business, a product of Cougar Mountain, is a powerful accounting software designed specifically for small and midsize businesses.
Odoo is an advanced fully integrated open-source business ERP management suite designed to serve businesses of all sizes among all industry verticals encompassing an ever-growing list of applications serving sales, CRM, project management, POS, manufacturing, MRP, e-commerce, HR, accounting, and other business needs in a unified solution.
Oracle JD Edwards EnterpriseOne is a cloud-based ERP and supply chain management solution that caters to businesses of all sizes.
Quick Books online is one of the popular cloud based accounting software designed for all enterprises to streamline their accounting environment.
★★★★★
More details +
Quick Books online is one of the popular cloud based accounting software designed for all enterprises to streamline their accounting environment.
PROS:
- Bookmark helps you create websites that are tailored to the needs of your business based on your exact requirements and specifications.
- Leverages Artificial Intelligenc to eliminate the redundant tasks and only focus on some of the customization, which helps you save time.
- With AiDA, Bookmark can figure out what exactly a user needs and delivers exactly the same.
- One-One support.
- WYSIWYG editor enables you to edit and preview it in different screen resolutions (desktop, tablet, smartphone).
- Bookmark provides 1.5 million stock images and videos.
- It provides free storage for files, videos and images.
CONS:
- Merchant Services is expensive and unresponsive.
- There is no service level agreement and Intuit takes zero responsibility if they lose your data.
- Reports from user that there is no phone number to call. You have to wait for a callback, and many times they don't call back.
- The software has many bugs, and often won't sync with accounts for days or more.
- Multi-currency requires the user to go online externally to grab exchange rates. It's confusing to issue customer refunds.
Sage Intacct is a best-in-class cloud based ERP software that is trusted by more than 11,000 businesses.
★★★★★
More details +
Sage Intacct is a best-in-class cloud based ERP software that is trusted by more than 11,000 businesses.
PROS:
- Intuitive dashboard to manage all accounting solution at one place.
- It's easy to use if you're doing simple bookkeeping.
- Zoho Books allows you to create invoices in no time.
- Ability to handle refunds, returns, and retainers.
- Integrates with paypal and other payment gateways.
- Multiple modes of payment options and supports multi-currency transactions.
CONS:
- Zoho books is not for large businesses.
- No payroll.
- Slight learning curve required.
- Features are not advances when compared to competitors.
Tipalti is a comprehensive and efficient cloud-based solution for managing global payables.
Wave is totally free and fully integrated accounting solution for small businesses.
★★★★★
More details +
Wave is totally free and fully integrated accounting solution for small businesses.
PROS:
- Free tool with features on par with paid ones.
- Bank upload and reconciliations feature for free.
- Good customer and supplier reconciliation features for a free system.
- Flexibility to connect to external accounts for transaction import.
- Cloud based accounting tool, Hence users can access from anywhere.
CONS:
- Connection issues with bank accounts and credit card accounts.
- Too much learning needed to understand the software.
- Issues with handling inventory.
- Some aspects of the Dash Board are not intuitive.
- More needed with regards to integrations.
Workday is a cloud-based Enterprise Resource Planning (ERP) solution that offers businesses accounting and administrative tools for real-time insights, global visibility, and predictive analytics.
Xero is a robust cloud-based accounting solution with sophisticated features for small business owners.
★★★★★
More details +
Xero is a robust cloud-based accounting solution with sophisticated features for small business owners.
PROS:
- Affordable.
- Simple Dashboard and easy to setup.
- Easily create quotes and convert them to invoices, purchase orders, or bills.
- Xero comes with client portal, where customers can view, print, and pay invoices directly online.
- Inventory tracking and make adjustments.
- Xero enables to track billable time to add to projects.
- Exporting and importing of data using multiple file forms.
- New report filters.
- Complex reconciliation tools.
- Updated expense tracking.
- Exceptional online support.
- Project-tracking.
CONS:
- Enhancements are necessary to the Mobile app.
- Phone and chat assistance is missing.
- There are no email reminders for low stock.
- Could have provided more invoice template designs.
- Importing data can be quite cumbersome and time-consuming.
Who uses Accounts Receivable Software?
Accounts Receivable (AR) software is used by businesses of all sizes to track and manage their accounts receivable. AR software can automate many of the tasks involved in AR, such as sending invoices, tracking payments, and managing collections. This can help businesses save time and money, and improve their cash flow.
Here are some of the types of businesses that use AR software:
- Retail businesses: Retail businesses use AR software to track sales and send invoices to customers.
- Service businesses: Service businesses use AR software to track invoices and payments for services rendered.
- Manufacturing businesses: Manufacturing businesses use AR software to track invoices and payments for goods sold.
- Wholesale businesses: Wholesale businesses use AR software to track invoices and payments for goods sold to retailers.
- Technology businesses: Technology businesses use AR software to track invoices and payments for software and hardware sold.
What are the key features of Accounts Receivable Software?
Some of the key features of AR software include:
- Invoice generation: AR software can automatically generate invoices based on sales orders or other data. This can help businesses save time and ensure that invoices are accurate.
- Payment tracking: AR software can track payments and send reminders to customers who are overdue. This can help businesses collect payments on time and avoid late fees.
- Collections: AR software can automate the collections process, sending dunning letters and making phone calls to customers who are overdue. This can help businesses collect payments more quickly and avoid bad debt.
- Reporting: AR software can generate reports that provide insights into AR performance. This can help businesses identify trends and areas for improvement.
In addition to these key features, AR software may also offer additional features, such as:
- Customer portal: A customer portal allows customers to view their invoices, make payments, and update their account information.
- Integration with accounting software: AR software can integrate with accounting software, such as QuickBooks or Sage, to automatically sync data. This can help businesses save time and avoid errors.
When choosing AR software, it is important to consider the specific needs of your business. Some factors to consider include:
- The size of your business
- The volume of invoices you generate
- The complexity of your AR process
- Your budget
Once you have considered these factors, you can start to compare different AR software solutions. There are many different AR software solutions available, so it is important to do your research and choose the solution that is right for your business.
What are the future trends in Accounts Receivable Software?
The future of accounts receivable (AR) software is likely to be characterized by a number of trends, including:
- Increased automation: AR software is becoming increasingly automated, with features such as automated invoice generation, payment tracking, and collections becoming more common. This automation can help businesses save time and money, and improve their cash flow.
- Greater integration with other systems: AR software is also becoming more integrated with other systems, such as accounting software and customer relationship management (CRM) software. This integration can help businesses streamline their operations and improve their efficiency.
- More advanced analytics: AR software is also becoming more advanced in its analytics capabilities. This can help businesses gain insights into their AR performance and identify areas for improvement.
- Increased focus on customer experience: AR software is also becoming more focused on the customer experience. This includes features such as customer portals and automated dunning, which can help businesses improve their customer relationships.
These trends are likely to continue to shape the future of AR software, and businesses that adopt these technologies are likely to see a number of benefits, including improved cash flow, increased efficiency, and enhanced customer relationships.
Here are some specific examples of how AR software is being used to improve business performance:
- Automated invoice generation: AR software can automatically generate invoices based on sales orders or other data. This can help businesses save time and ensure that invoices are accurate.
- Payment tracking: AR software can track payments and send reminders to customers who are overdue. This can help businesses collect payments on time and avoid late fees.
- Collections: AR software can automate the collections process, sending dunning letters and making phone calls to customers who are overdue. This can help businesses collect payments more quickly and avoid bad debt.
- Reporting: AR software can generate reports that provide insights into AR performance. This can help businesses identify trends and areas for improvement.
- Customer portal: A customer portal allows customers to view their invoices, make payments, and update their account information. This can help businesses improve customer service and reduce the workload on their customer service team.
- Integration with accounting software: AR software can integrate with accounting software, such as QuickBooks or Sage, to automatically sync data. This can help businesses save time and avoid errors.
These are just a few examples of how AR software can be used to improve business performance. As AR software continues to evolve, businesses will find even more ways to use it to their advantage.
