6 Best Accounts Receivable Software for Small Businesses

No matter how little or big your business is, handling its financial side can be frustrating. Thanks to modern technology, the best accounting software for small businesses

No matter how little or big your business is, handling its financial side can be frustrating. Thanks to modern technology, the best accounting software for small businesses can take care of all the tedious work for you. Once you select your top accounting software amid all that’s out there, you will be able to do away with Excel spreadsheets and things like that. In reality, there are a variety of software solutions that provide you with the power to manage payroll and handle other business tasks in just a few clicks.

For instance, you can utilize accounting software to manage bookkeeping without engaging a professional. Or use it to manage stock orders and handle other task management tasks. Deep customer analysis can be facilitated by using these software choices, which can help streamline the management of client relationships.

To make all this easier on you, we’ve done the work to discover the finest accounting software for small businesses available and highlight the important features of each system. We also discuss the benefits and downsides of each one.


What We’ll Talk About:

  • FreshBooks
  • ColdBox
  • Chaser
  • PayPal
  • BlueSnap
  • Fundbox

What is a Receivables Management System (RMS)?

Keep Customers Happy While Improving Cash Flow

Low-cost Alternative for Small Businesses Looking to Cut Labor Costs

What to Look for in a Receivables Management System

Increase the speed at which invoices are paid

More Information on Accounting for Small Businesses


In the freelancing and small business worlds, FreshBooks has long been the top option for bookkeeping. FreshBooks allows you to oversee all of your company’s financial activities from a single interface.

There is no doubt that you will enjoy working with the simple user interface. The importance of integrations was recognized to enhance the system’s overall functionality.

You may utilize it with platforms such as PayPal, WordPress, Mailchimp, Zendesk, etc.



Small businesses and freelancers can benefit greatly from QuickBooks, an accounting program designed with them in mind. The good news is that they also have strategies to help you build your business.

You can use it for accounting, invoicing, and bookkeeping as well.

Xero is not only one of the greatest business accounting software for small businesses but also a wonderful alternative to QuickBooks. The procedure of reconciling bank transactions has never been as simple as with this accounting system.

It is a revolutionary accounting tool with all the capabilities you’d wish to have. User experience is on par with the greatest solutions in the market. Their customer service team responds quickly in the event of an issue with your accounting software.

Zoho Books

Zoho Books is basic yet scalable accounting software for self-employed and those who want to start a small business. On our list of the best accounting software for small businesses, it stands out because of this.

Payroll providers are limited in this alternative, though. Zoho Books delivers excellent cloud accounting for micro-businesses. It is straightforward to use and budget-friendly. Features are restricted, but you may leverage additional Zoho tools (like Zoho CRM) to expand the use as your business grows. Or, you can choose the entire, all-in-one solution called Zoho One.



This one is something you’re not expecting – a fully free accounting software designed to deliver all the essential accounting functionality you might require.

Wave is an easy-to-use, intuitive software for making professional invoices without expense. Its easy-to-use module for scanning receipts may also help you keep track of your costs.

So, where’s the catch? Can it be free? The answer is yes. Wave makes money by giving you an online payments module – via which your customers can pay your bills – and imposing a tiny fee of $0.30 + 2.9 percent each transaction.



ZipBooks is a freemium cloud accounting software for small business owners.

You can use it for free if you’re happy with the constraints. But the good news is that the paid plans are pretty affordable as well.

You can issue invoices, manage suppliers and customers, and accept electronic payments with the free version. Small and medium-sized business owners would appreciate the premium version’s advanced capabilities


Why do you need software for your receivables?

Automated invoicing and collections are made possible by accounts receivable software. Organizations benefit from this because they can better control their cash flow cycle, improve accuracy, and enhance customer relationships.


What are the top five things to look for in an AR (Accounts Receivable) system?


Invoices for products and services should be sent out to customers. A recurring invoice can be scheduled to be sent out on a predetermined date and time.


Options for payment

Accept various payment methods, such as cash, check, e-transfer, or credit card payment. PayPal, for example, is already integrated into some systems, but this isn’t always the case.



Create your own unique invoicing templates. With the addition of your company’s logo and payment terms (such as “Net15”), you can create a professional-looking invoice. Multi-currency invoicing is a common feature.


Management can be contacted.

Keep track of what has been paid and what is still owing. Billing systems that allow users to track client activity on an invoice or send reminders when due or overdue payments allow for this functionality. Very help in the financial department

Applied geostatistics

Dashboards, reports, and data visualization tools like charts and graphs can be used to analyze AR data. Get a better understanding of customer aging, delayed revenue, recurring bills, and other metrics.


It is possible to automate invoices and payment reminders with the help of Upflow, an account receivable automation system. Administrators can see how much money is still owing and how long it has been since the last payment.


Using Kuhlekt’s cloud-based debt collection system, organizations from various industry sectors may better manage their receivables, client interactions, and financial reporting. Dunning is an important trait.

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