The Top 12 Accounts Receivable Software in 2024: Reviewed and Compared

Tired of chasing late-paying customers? We’ve handpicked 12 of the best accounts receivable software to help you automate your payment collection process. We’re also covering the top factors to consider when selecting an accounts receivable tool.
June 7, 2024
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A lot has been written about optimizing cash flow.

For good reason, we think — given how, for some businesses, opportunities to free up cash might be hiding in plain sight.

Moreover, in the last few years, we saw the likes of a global pandemic, talks about a looming recession, and ongoing geopolitical tensions, not to mention disruptions in global supply chains — highlighting the need for businesses to build cash reserves.

These economic downturns also exposed the limitations of traditional approaches to accounts receivable. On an average, businesses in the U.S. reportedly have 24% of their monthly revenue tied up in accounts receivable.

To put it plainly, chasing late-paying customers has overburdened collection desks. Staying on top of receivables, following up on overdue payments, and reconciling them are easier said than done.


This is where an Accounts Receivable (AR) software comes into play. These tools bring enterprise-level automation into the picture, equipping finance teams with advanced billing, collections, customer communications, and reporting capabilities. 

We’ve done the groundwork, and we’ve got our pick of the top 12 accounts receivable software out there. 


  • Accounts receivable software is an automated financial tool that is used by businesses to manage their incoming payments. It includes the automation of invoice generation and payment reminders, to ensure customers pay on time.
  • We share the top features in 12 of the best accounts receivable software, which are — Zenskar, Upflow, Bill, Invoiced, Quadient, Blackline, Freshbooks, Sage 50, Tesorio, Xero, HighRadius, and Melio.
  • How do you select an AR tool that suits your business needs? Apart from looking at the pricing, you also need to consider the following factors: automation, integration capabilities with popular third-party apps, an all-in-one dashboard, multiple payment options, real-time reporting, and reliable customer support service. 

What is an accounts receivable software?

An accounts receivable software is a tool that is used to manage the money you are owed for the products or services that you offer to customers. The software is used to manage your receivables process, ensuring that you get paid on time (and in full).

With an accounts receivable software, businesses can automate and simplify many of the tedious, manual tasks in the accounts receivable process.

This includes generating invoices, tracking payments, auto-processing payments, reconciling them, and managing collections. 

The accounts receivable automation software is a critical tool to ensure timely invoicing for your business and monitor payment statuses in real-time. 

With this software, you can not only send out invoices effortlessly, but you can also set up reminders for overdue payments, follow up with late-paying customers using automated communications, and generate aging reports. 

These aging reports help you prioritize collection efforts by allowing you to easily track down late-paying clients and bad debts — as well as identify any potential issues that are impacting your cash flow.

A list of the top 12 accounts receivable software to explore in 2024

We’ve compared 12 of the best accounts receivable software out there, like Zenskar, Upflow, Bill, Invoices, Quadient, and more.

From a complete overview to key features that stood out to us and pricing — we’re sharing with you all the details you need to make an informed decision.

Let’s get started.

1. Zenskar

Zenskar is a flexible tool that automates billing and streamlines revenue recognition for companies with complex billing and pricing models. 

Right from customizing every aspect of your billing to automating the revenue side of your financial operations, Zenskar’s no-code billing infrastructure is designed to help you automate payment collection and improve cash flow (without relying on an engineer’s bandwidth).

From generating invoices to following up with payment reminders and tracking payment receipts, Zenskar’s advanced functionalities are designed to ensure that you collect payments in days, not weeks.

Read how Zenskar helped Yembo collect 50% of its revenue a month earlier.

Features that stand out:

  • Automated payment reminders and dunning sequences
  • Branded templates for different email communications
  • Invoices and payment reminders can be added as email attachments
  • Customer segments can be set up based on customer aging, payment history, or geography
  • A single dashboard to monitor overdue invoices, aging reports, and DSOs 


Get in touch with our team here to discuss pricing plans that are best suited for your business needs and workflows.

2. Upflow

This tool is ideal for mid-market organizations, enabling businesses to manage their accounts receivable and get paid on time with a self-service payment experience.

Upflow goes beyond facilitating faster collections. It enables a streamlined payment process, allowing customers to choose from multiple payment options, including credit card, wire transfer, and ACH payments.


Features that stand out:

  • Personalized payment reminders
  • Analyzes cash flow and tracks DSO with live dashboards
  • Segments customers to build personalized collection strategies
  • Keeps the team informed on the payment status of different customer accounts with the ‘comments’ feature 


Discover: Free

Grow: $440/month

Scale: $880/month

Enterprise: Businesses with annual revenue above $6 million can contact their sales team to discuss pricing.

3. Bill

Bill is an AR automation software that streamlines invoice processing, payment approvals, and reconciliation.

It has a comprehensive dashboard that lets you track all your upcoming bills and invoices, as well as incoming and outgoing payments.


Features that stand out:

  • Speeds up the AR process with auto-charge and auto-pay capabilities
  • Enhances the payment experience with customer payment portals 
  • Integrates payment details directly with popular accounting software
  • Provides multiple payment options for customers


Essentials: $45/user/month

Team: $55/user/month

Corporate: $79/user/month

Enterprise: Contact their team to explore custom pricing plans for enterprise needs.

4. Invoiced

This online billing and invoicing solution — Invoiced, manages complex B2B-specific payment and invoicing scenarios. 

Apart from automated invoice delivery, this platform provides customizable workflows and integration capabilities to suit different business needs.


Features that stand out:

  • Leverages the Invoiced Business Network to speed up B2B payments
  • Accepts payment through direct debit (including modes like ACH and Bacs), credit card, and virtual card
  • Integrations with popular third-party platforms like ​​Xero and QuickBooks
  • Real-time reporting across the entire invoice-to-cash lifecycle


Essentials: $39/month

Growth: $199/month

Premium: $499/month

Enterprise: Get in touch with their team for customized pricing plans.

5. Quadient

Quadient AR – by YayPay, is an accounts receivable automation platform made for B2B finance teams.

The platform automates the order-to-cash cycle, ensuring high-value customer interactions and accelerating cash flow.


Features that stand out:

  • Smooth integrations with ERP systems
  • Automates dispute resolutions
  • Provides an AI-powered cash application
  • Tracks DSO and aging in real-time
  • Utilizes machine learning algorithms to identify payment trends


Reach out to their team to find out about their pricing details.

6. Blackline

Blackline is a finance and accounting automation tool that leverages powerful intelligence and automation capabilities to streamline the invoice-to-cash process.

By centralizing the end-to-end receivables process, Blackline improves the decision-making capabilities of collections and risk teams as well as C-suite executives.


Features that stand out:

  • Facilitates proactive credit and risk management 
  • Automates end-to-end journal entry processes
  • Decision intelligence captured from operational data 
  • Tracks and measures the impact of disputes


Contact their team to get a quote.

7. FreshBooks

FreshBooks is an accounting software for small business owners and freelancers.

It has intuitive AR automation features that let you manage finances with ease and be in charge of your payment follow-up process.


Features that stand out:

  • The invoice generator tool lets you create professional-looking invoices
  • Notifies you when customers open an invoice
  • Collects deposits, helping businesses get paid upfront
  • Adds billable working hours and expenses to the invoice


Lite: $7.60/month 

Plus: $13.2/month

Premium: $24/month

Select: Contact their team.

8. Sage 50 

Sage 50 is a powerful accounting software that comes packed with robust financial management solutions.

From automating invoicing to using projections to anticipate future cash flow, Sage 50 helps businesses stay on top of their receivables. 


Features that stand out:

  • Sends invoices in bulk to multiple customers at once
  • Detailed analytics and reporting capabilities
  • A customizable dashboard view that can be filtered based on the type of transaction or date range
  • Collect payments faster with the online ‘Pay Now’ invoice feature


Pro accounting: $595/year 

Premium Accounting: $1,023/year

Quantum Accounting: $1,728/year

Payroll bundles: Explore their bundle pricing here.

9. Tesorio

The accounts receivable automation software, Tesorio, has automated collections forecasting and smart workflow tools powered by machine learning and data analytics.

Tesorio has automated dunning functionalities that let you send payment reminders based on the type of customers and the age of invoices.


Features that stand out:

  • Click-to-pay button on online invoices
  • Per-customer predictive models
  • Matches multiple invoices to one customer
  • Collaborative workspaces for teams to share notes and aggregate data


Contact their sales team for detailed pricing information.

10. Xero

With Xero’s user-friendly accounting platform, you can simplify invoicing and ensure access to financial data anytime and anywhere.

Xero offers customers multiple payment methods, from direct debit to credit cards and more, accelerating accounts receivable for businesses.


Features that stand out:

  • Integrations with 800+ third-party apps
  • Enables transactions in various currencies
  • Transaction fees can be passed on to customers in part or in full, or they can be paid only when a customer uses an online payment mode


Starter: $14.5

Standard: $23

Premium: $31

11. HighRadius

HighRadius is an AI-powered accounts receivable automation software that automates routine tasks and empowers AR teams to focus on more strategic activities.

With features like cash application, intelligent invoicing, and collections management, HighRadius enables businesses to reduce DSO and optimize cash flow.


Features that stand out:

  • Streamlines accounts receivable processes with AI-prioritized worklists
  • Recommendations for data-driven business decisions
  • Self-serve customer portal
  • AI-powered deduction validity predictor


Contact their team for pricing details.

12. Melio

This user-friendly platform, Melio, simplifies accounts receivable processing and improves financial operations for smaller businesses, saving them time and money.

With features like invoice tracking, payment scheduling, and third-party app integrations, Melio helps businesses manage receivables and streamline their bookkeeping process effortlessly.


Features that stand out:

  • Syncs incoming payments with invoices
  • Free ACH transfers
  • Invoices with a built-in pay button


The platform is free to use.

Key things to consider when selecting an accounts receivable software

While there is a host of AR automation software on the market, when it comes to choosing one — you need to first take your business needs into consideration while also taking into account capabilities such as automation, integration with third-party apps, an all-in-one dashboard, multiple payment options, detailed reporting, pricing of the tools, and customer support service. 

Here are a few tips to help you make an informed decision:

  • Ensure the platform offers automation capabilities, enabling auto-generation of invoices, payment tracking, dunning, and reconciliations.
  • The tool should be able to integrate with your internal tech stack and other popular third-party software.
  • It must be intuitive, offering a comprehensive dashboard to track the entire invoice-to-cash lifecycle.
  • Choose a tool that enables multiple payment options, giving your customers the freedom to pay the way they want.
  • Select a tool that provides detailed reporting and predictive analytics, along with credit risk management capabilities.
  • While you need to consider the pricing of the tool, be sure to evaluate any hidden fees or additional charges that may apply.
  • Opt for a tool that has reliable and quick customer support.

Collect and reconcile customer payments in days

This comprehensive guide to the best-rated accounts receivable software will help you inch closer to making the right choice for your business.

If you’re looking to break free from unsustainable and non-scalable billing processes, then Zenskar is the ideal choice for your business. We built Zenskar for businesses to experience the benefits of automated payment collection. Our advanced functionalities are enabling enterprises to improve their cash flow with automated invoicing and follow-up processes. 

The best part? You can scale your debt communications with ease using an email software within your billing system.

Schedule a 1:1 demo with the team to learn how Zenskar can be a perfect fit for your business.

Frequently Asked Questions (FAQs)

1. What software is used for accounts receivable?

For managing accounts receivable, you need to use a software that automates invoicing, payment processing, collections, and reporting. Accounts receivable software like Zenskar is designed to help companies accelerate client payments with automated payment reminders and advanced dunning capabilities.

2. What is AP AR software?

AP AR software is accounts payable and accounts receivable software that is designed to eliminate the manual and time-consuming tasks involved in managing a business’s payables and receivables.

3. What is accounts receivable automation software?

AR automation software is the accounts receivable automation software that is 

used by businesses to automate and speed up the payment collection process. An AR automation software helps eliminate manual errors and mundane data entry tasks, which, in turn, speed up payments and reduce DSOs.

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