Quick Overview
- 1#1: QuickBooks Online - Cloud-based accounting software that streamlines invoicing, payments, AR tracking, and AP management for small to medium businesses.
- 2#2: Xero - User-friendly cloud accounting platform with automated AR invoicing, AP bills, and bank reconciliation features.
- 3#3: NetSuite - Comprehensive ERP solution offering advanced AR/AP automation, revenue recognition, and global payment processing.
- 4#4: Sage Intacct - Scalable financial management system with multi-entity AR/AP capabilities, cash management, and real-time reporting.
- 5#5: Bill.com - AP and AR automation platform that handles approvals, payments, invoicing, and syncs seamlessly with accounting software.
- 6#6: FreshBooks - Invoicing-focused accounting tool excelling in AR management, time tracking, and basic AP for freelancers and agencies.
- 7#7: Zoho Books - Affordable online accounting software supporting AR invoicing, AP vendor payments, and multi-currency transactions.
- 8#8: Wave - Free cloud-based invoicing and accounting app for simple AR collections and unlimited AP expense tracking.
- 9#9: Melio - B2B payments platform automating AR collections via invoicing and AP disbursements with bank integrations.
- 10#10: AvidXchange - AP automation solution with electronic payments, invoice processing, and emerging AR features for mid-market firms.
We selected and ranked these tools based on key factors like automation capabilities, ease of use, scalability, integration flexibility, and cost-effectiveness, ensuring the list represents the most impactful and practical choices for modern AR/AP management
Comparison Table
Managing accounts receivable and payable efficiently is key to maintaining healthy cash flow, and selecting the right software demands careful evaluation of features. This comparison table explores top tools—including QuickBooks Online, Xero, NetSuite, Sage Intacct, Bill.com, and more—to help readers identify the best fit for their business, covering aspects like automation, integration, and scalability.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | QuickBooks Online Cloud-based accounting software that streamlines invoicing, payments, AR tracking, and AP management for small to medium businesses. | enterprise | 9.6/10 | 9.8/10 | 9.2/10 | 8.7/10 |
| 2 | Xero User-friendly cloud accounting platform with automated AR invoicing, AP bills, and bank reconciliation features. | enterprise | 8.9/10 | 9.1/10 | 8.7/10 | 8.5/10 |
| 3 | NetSuite Comprehensive ERP solution offering advanced AR/AP automation, revenue recognition, and global payment processing. | enterprise | 8.8/10 | 9.2/10 | 7.5/10 | 8.0/10 |
| 4 | Sage Intacct Scalable financial management system with multi-entity AR/AP capabilities, cash management, and real-time reporting. | enterprise | 8.8/10 | 9.3/10 | 8.0/10 | 8.2/10 |
| 5 | Bill.com AP and AR automation platform that handles approvals, payments, invoicing, and syncs seamlessly with accounting software. | specialized | 8.7/10 | 9.2/10 | 8.4/10 | 8.1/10 |
| 6 | FreshBooks Invoicing-focused accounting tool excelling in AR management, time tracking, and basic AP for freelancers and agencies. | specialized | 8.1/10 | 7.9/10 | 9.3/10 | 7.7/10 |
| 7 | Zoho Books Affordable online accounting software supporting AR invoicing, AP vendor payments, and multi-currency transactions. | specialized | 8.6/10 | 8.8/10 | 9.1/10 | 9.3/10 |
| 8 | Wave Free cloud-based invoicing and accounting app for simple AR collections and unlimited AP expense tracking. | other | 8.1/10 | 7.4/10 | 9.3/10 | 9.6/10 |
| 9 | Melio B2B payments platform automating AR collections via invoicing and AP disbursements with bank integrations. | specialized | 8.3/10 | 8.1/10 | 9.1/10 | 8.5/10 |
| 10 | AvidXchange AP automation solution with electronic payments, invoice processing, and emerging AR features for mid-market firms. | specialized | 8.1/10 | 8.7/10 | 8.0/10 | 7.6/10 |
Cloud-based accounting software that streamlines invoicing, payments, AR tracking, and AP management for small to medium businesses.
User-friendly cloud accounting platform with automated AR invoicing, AP bills, and bank reconciliation features.
Comprehensive ERP solution offering advanced AR/AP automation, revenue recognition, and global payment processing.
Scalable financial management system with multi-entity AR/AP capabilities, cash management, and real-time reporting.
AP and AR automation platform that handles approvals, payments, invoicing, and syncs seamlessly with accounting software.
Invoicing-focused accounting tool excelling in AR management, time tracking, and basic AP for freelancers and agencies.
Affordable online accounting software supporting AR invoicing, AP vendor payments, and multi-currency transactions.
Free cloud-based invoicing and accounting app for simple AR collections and unlimited AP expense tracking.
B2B payments platform automating AR collections via invoicing and AP disbursements with bank integrations.
AP automation solution with electronic payments, invoice processing, and emerging AR features for mid-market firms.
QuickBooks Online
enterpriseCloud-based accounting software that streamlines invoicing, payments, AR tracking, and AP management for small to medium businesses.
Automated payment reminders and QuickBooks Payments integration for faster AR collections and reduced DSO
QuickBooks Online is a premier cloud-based accounting platform renowned for its robust accounts receivable (AR) and accounts payable (AP) management capabilities. It enables users to create customizable invoices, automate payment reminders, track overdue accounts, and accept payments seamlessly through integrated gateways. For AP, it offers bill entry, vendor management, approval workflows, scheduled payments, and bank reconciliation. With real-time reporting and mobile access, it streamlines cash flow for businesses of all sizes.
Pros
- Comprehensive AR tools including customizable invoicing, automated reminders, and online payment acceptance
- Efficient AP features like bill approvals, batch payments, and direct bank integrations
- Advanced reporting, cash flow forecasting, and 750+ app integrations for scalability
Cons
- Higher-tier plans required for advanced AP workflows and unlimited users
- Initial learning curve for non-accountants despite intuitive interface
- Pricing can escalate with add-ons like payroll or payments processing
Best For
Small to medium-sized businesses needing scalable, automated AR/AP management with strong reporting and integrations.
Pricing
Starts at $30/month (Simple Start) for basic AR; full AR/AP in Plus ($90/month) or higher; annual discounts available.
Xero
enterpriseUser-friendly cloud accounting platform with automated AR invoicing, AP bills, and bank reconciliation features.
Unlimited users with real-time collaborative editing for AR/AP tasks
Xero is a cloud-based accounting software designed for small to medium-sized businesses, with powerful tools for managing accounts receivable through customizable invoicing, automated reminders, and payment integrations. For accounts payable, it streamlines bill entry, approvals, and payments with bank feeds and multi-currency support. Its real-time collaboration and unlimited users make it ideal for teams handling AR/AP workflows efficiently.
Pros
- Unlimited users across all plans for team collaboration
- Automated bank reconciliation and payment reminders
- Seamless integrations with payment gateways like Stripe and PayPal
Cons
- Higher-tier plans required for advanced reporting and multi-currency
- Customer support limited to email/chat without phone for lower plans
- Steeper learning curve for complex customizations
Best For
Small to medium businesses needing scalable, cloud-based AR/AP automation with strong integrations.
Pricing
Plans start at $15/month (Early, limited features) up to $100+/month (Ultimate), with annual billing discounts; unlimited users included.
NetSuite
enterpriseComprehensive ERP solution offering advanced AR/AP automation, revenue recognition, and global payment processing.
AI-powered cash application that automates AR matching and reconciliation at scale
NetSuite is a cloud-based ERP platform from Oracle that offers comprehensive Accounts Receivable (AR) and Accounts Payable (AP) functionalities within its financial management suite. It automates invoicing, payment processing, collections, vendor bill management, and expense approvals, with seamless integration across CRM, inventory, and order management. Designed for scalability, it provides real-time visibility and advanced reporting for global operations.
Pros
- Deep integration with full ERP ecosystem for end-to-end financial workflows
- Advanced automation including AI-driven cash application and collections
- Robust multi-currency and multi-subsidiary support for global businesses
Cons
- Steep learning curve requiring extensive training
- High cost with lengthy and expensive implementation
- Overkill for small businesses needing simple AR/AP tools
Best For
Mid-sized to large enterprises needing scalable AR/AP integrated with broader ERP operations.
Pricing
Quote-based subscription starting at around $10,000-$25,000/month for mid-tier plans, plus one-time implementation fees often exceeding $50,000.
Sage Intacct
enterpriseScalable financial management system with multi-entity AR/AP capabilities, cash management, and real-time reporting.
Multi-dimensional general ledger that provides unmatched visibility and control over AR/AP transactions across dimensions like location, project, and department.
Sage Intacct is a cloud-based financial management platform renowned for its robust Accounts Receivable (AR) and Accounts Payable (AP) modules, offering automated invoicing, payment processing, cash application, and vendor management. It supports multi-entity, multi-currency operations with advanced workflow automation and real-time reporting for streamlined financial close processes. Ideal for mid-market enterprises, it integrates seamlessly with other ERP functions to provide comprehensive visibility into cash flow and financial health.
Pros
- Advanced automation for AR collections and AP approvals
- Multi-dimensional tracking for granular AR/AP reporting
- Scalable multi-entity and multi-currency support
Cons
- Steep learning curve for complex configurations
- Higher pricing suitable only for mid-market and above
- Customization often requires partner implementation
Best For
Mid-sized businesses with multi-entity operations needing scalable, automated AR/AP management.
Pricing
Custom quote-based; typically starts at $15,000-$30,000 annually for core modules, scaling with users and entities.
Bill.com
specializedAP and AR automation platform that handles approvals, payments, invoicing, and syncs seamlessly with accounting software.
Customizable multi-level approval workflows with mobile approvals
Bill.com is a cloud-based platform that automates accounts payable (AP) and accounts receivable (AR) processes for businesses of all sizes. It enables users to capture bills via mobile scan, route them through customizable approval workflows, and make payments via ACH, checks, wires, or virtual cards. For AR, it supports invoicing, online payments, recurring billing, and automated reminders, with seamless integrations to QuickBooks, Xero, and other accounting software.
Pros
- Powerful automation for multi-step approvals and payments
- Excellent integrations with major accounting tools
- Flexible payment options including international wires
Cons
- Pricing can be expensive for very small teams
- Occasional complexity in setup for advanced workflows
- Customer support response times vary
Best For
Growing small to mid-sized businesses needing robust AP/AR automation integrated with their accounting software.
Pricing
Starts at $39/user/month (Essentials, billed annually) up to $79/user/month (Corporate), with Enterprise custom pricing; 30-day free trial available.
FreshBooks
specializedInvoicing-focused accounting tool excelling in AR management, time tracking, and basic AP for freelancers and agencies.
Automated recurring invoices and late payment reminders that integrate seamlessly with online payment processing
FreshBooks is a cloud-based accounting platform tailored for small businesses, freelancers, and service professionals, emphasizing streamlined invoicing, time tracking, and expense management. It shines in accounts receivable with customizable invoices, online payments via credit card and ACH, automated reminders, and recurring billing. For accounts payable, it offers bill tracking, vendor management, and bank reconciliation, though it lacks advanced AP automation compared to enterprise tools.
Pros
- Intuitive interface with minimal learning curve
- Robust AR tools including automated invoicing and payments
- Excellent mobile app for on-the-go expense tracking
Cons
- Limited advanced AP features like bulk payments or vendor portals
- Pricing scales quickly with client volume
- No native inventory or payroll integration
Best For
Freelancers and small service-based businesses prioritizing easy invoicing and quick payment collection over complex AP workflows.
Pricing
Starts at $19/month (Lite, billed annually) for basic invoicing; Plus ($33/mo), Premium ($60/mo), and Select ($99/mo) unlock more clients, features, and support.
Zoho Books
specializedAffordable online accounting software supporting AR invoicing, AP vendor payments, and multi-currency transactions.
Workflow automation rules that customize approvals, reminders, and notifications based on AR/AP triggers
Zoho Books is a cloud-based accounting platform designed for small to medium-sized businesses, offering comprehensive tools for managing accounts receivable through customizable invoicing, automated payment reminders, and client portals. For accounts payable, it provides bill tracking, vendor management, recurring payments, and approval workflows. It supports multi-currency transactions, bank reconciliation, and seamless integration with the Zoho ecosystem for streamlined financial operations.
Pros
- Intuitive invoicing and bill management with automation for reminders and approvals
- Multi-currency support with real-time exchange rates for global AR/AP
- Strong mobile app and integrations for efficient on-the-go access
Cons
- Reporting and analytics lack depth for complex enterprise needs
- Advanced features like project tracking require higher-tier plans
- Customer support response times can vary
Best For
Small to medium-sized businesses looking for affordable, user-friendly AR/AP automation without enterprise-level complexity.
Pricing
Free plan for businesses under $50K revenue; paid plans start at $20/org/month (Early) up to $240/org/month (Ultimate), billed annually.
Wave
otherFree cloud-based invoicing and accounting app for simple AR collections and unlimited AP expense tracking.
100% free unlimited invoicing and accounting with no user or transaction limits
Wave is a free cloud-based accounting platform tailored for small businesses, offering robust accounts receivable tools like customizable invoicing, automated reminders, and integrated payment processing. For accounts payable, it provides expense tracking, receipt scanning, bill entry, and bank reconciliation to manage outflows efficiently. Overall, it simplifies basic AR/AP workflows with real-time reporting and multi-currency support, though it lacks advanced enterprise features.
Pros
- Completely free core accounting and unlimited invoicing
- Intuitive drag-and-drop interface with mobile app support
- Seamless bank integrations for automatic transaction imports
Cons
- Payment processing incurs transaction fees (2.9% + $0.60)
- Limited AP automation like purchase orders or vendor portals
- Basic reporting without advanced customization or forecasting
Best For
Freelancers and micro-businesses seeking a cost-free, straightforward tool for everyday invoicing and expense management.
Pricing
Core AR/AP features free forever; credit card payments 2.9% + $0.60, ACH $1 per transaction; add-ons like payroll start at $20/mo + per-employee fees.
Melio
specializedB2B payments platform automating AR collections via invoicing and AP disbursements with bank integrations.
Pay vendors by credit card even if they don't accept cards, with Melio handling the transaction privately
Melio is a cloud-based B2B payments platform that simplifies accounts payable (AP) and accounts receivable (AR) for small to medium-sized businesses. It enables users to send payments to vendors via ACH, checks, wires, and credit cards, while also supporting invoice creation and customer payment collection. Key integrations with QuickBooks, Xero, and FreshBooks automate workflows and reconciliation, making it ideal for SMBs without complex ERP systems.
Pros
- Free to receive payments via ACH
- Seamless integrations with major accounting software
- Flexible payment methods including check mailing and credit cards
Cons
- Transaction fees for credit card and faster payments
- Limited advanced reporting and automation for enterprises
- Customer support can be slow during peak times
Best For
Small to medium-sized businesses seeking an intuitive, subscription-free solution for vendor payments and basic invoicing.
Pricing
Free for ACH receivables and payments; pay-per-use fees for other methods (e.g., 2.9% + $0.30 for credit cards, $1.50 for checks). No monthly subscriptions.
AvidXchange
specializedAP automation solution with electronic payments, invoice processing, and emerging AR features for mid-market firms.
Timely Payment Guarantee, covering late fees if payments aren't processed on schedule
AvidXchange is a cloud-based accounts payable automation platform that streamlines invoice capture, approval workflows, and electronic payments for businesses. It integrates seamlessly with over 200 accounting systems like QuickBooks, Sage, and NetSuite, reducing manual data entry and paper-based processes. While strong in AP, its AR capabilities are more limited, relying on integrations rather than native tools. It's designed to help mid-sized companies modernize their financial operations efficiently.
Pros
- Broad integrations with 200+ ERPs and accounting software
- Diverse payment options including ACH, checks, virtual cards, and international wires
- AI-driven invoice processing for high accuracy and speed
Cons
- Limited native AR features, better suited for AP-heavy workflows
- Pricing model can be complex and costly for low-volume users
- Initial setup and onboarding may require significant time
Best For
Mid-sized businesses focused on automating accounts payable with existing ERP integrations.
Pricing
Custom quotes based on invoice volume and users; typically $1.50-$3 per invoice plus monthly subscription starting around $500.
Conclusion
The top tools showcase varied strengths, with the leading three—QuickBooks Online, Xero, and NetSuite—setting the benchmark. QuickBooks Online stands out for streamlining AR/AP processes, Xero for its user-friendly automation, and NetSuite for comprehensive ERP capabilities. For most, QuickBooks Online emerges as the top choice, balancing functionality and ease.
Start with QuickBooks Online to simplify invoicing, payments, and tracking—its robust features make it a standout for managing both accounts receivable and payable efficiently.
Tools Reviewed
All tools were independently evaluated for this comparison