5 Best Accounts Receivable Software For Your BusinessPosted by Harshal on September 17th, 2021 No company wants to deal with overdue invoices, but it’s often an inevitable part of doing business. Preventing overdue payments and skillfully handling clients who pay late is an account receivable task. Although large corporations may hire an accounts receivable specialist, smaller businesses may not be able to justify the investment. Instead, they look to software to handle accounts receivable processes for a fraction of the cost. In this post, we’ll cover the five best accounts receivable software to help small businesses reduce the number of days it takes to get paid. 1) FreshBooksFreshBooks is a cloud-based billing & invoicing software that also helps small business owners and freelancers automate accounts payable and receivable processes. They’re rated the number one accounts receivable software by a variety of review sites. With FreshBooks, you can send beautiful invoices, track billable hours, and track when a customer has opened an invoice. Once you send an invoice, FreshBooks automates the rest of the accounts receivable process. You can set the platform to send automatic late payment reminders at specified intervals and FreshBooks also allows you to customize the message for a personal touch.
FreshBooks Pricing Freshbook Pricing starts at a month for the lite plan, which gives you access to unlimited invoices for up to 5 clients. If you have up to 50 clients, the Plus plan is a month. Additionally, the premium plan at a month allows you to invoice an unlimited number of clients. FreshBooks also offers a risk-free 30-day free trial. 2) CollBox
CollBox is a popular accounts receivable software with raving user reviews. CollBox seamlessly integrates with your cloud-based accounting solution to identify client or customer accounts with past due invoices. You can then choose to allow them to take over the collection process for one or more outstanding invoices. Getting their help is as easy as a click of a button. Once they start the work on an outstanding invoice, minimal time and effort are required on your part. They even adjust their approach based on how important the specific relationship is to you. CollBox Pricing CollBox has two main products. One product starts at 0 per month and helps with recently past-due invoices. A team of accounts receivable experts helps you collect your recently past-due payments and you get to keep all of the profit. The other product option helps with seriously past-due invoices. This product is virtually risk-free because CollBox only takes a percentage of the successfully collected invoices and requires no upfront fee. In other words, you only pay if they’re successful in collecting the invoices you were likely ready to write off. The percentage that they take starts at 25%. 3) Chaser
Chaser, an accounts receivable automation software, maintains an impressive 4.9 star rating on Capterra. The software connects to accounting systems and makes chasing customers a simpler process. Chaser gives you the ability to automate payment reminders with personalized emails, and when necessary, they’ll escalate overdue payments to their collections services. Chaser makes it easy to keep track of all customer communications so that you can get a better idea of their payment history. Additionally, take advantage of their interactive debtor reports to gain more insight into your customers’ payment behaviors for better planning. Chaser Pricing Chaser’s pricing starts at , making it one of the most affordable solutions on our list. To take advantage of escalation solutions, you’ll need a standard plan which starts at a month. 4) ezyCollect
ezycollect is an all-in-one accounts receivable platform to help growing businesses recover cash faster, without the hassle. Improve productivity and customer relationships with tools designed to streamline and simplify the entire invoice-to-payment process. ezyCollect automates your entire receivables management process. From the moment the invoice is sent, to the day you get paid. Key ezyCollect features include:
5) BlueSnap
BlueSnap is primarily an online payment solution that also allows you to streamline the entire accounts receivable process from quote to cash. Connect BlueSnap’s automation software to your accounting software, CRM, or ERP for added convenience. The all-in-one accounts receivable automation software offers the following capabilities and features:
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