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Accounts receivable management software

Track money coming into your business and never miss a payment.

Get paid what you're owed

Accounting software can help you to track accounts receivable and anticipate problems before they happen.

How to manage accounts receivable

First, set targets for the next 6 to 12 months to track your accounts payable and receivable in order to avoid shortfalls. Then, note seasonal variations like heating bills increasing during the winter. Don’t forget to factor in fixed and variable costs and be realistic about your forecasts.

Stay on top of payments

Send out automated invoices to customers and clients promptly, and chase overdue bills. Be clear about your payment terms—30 days is standard. Get to know your customer payment dates and don’t ignore delays because a customer who hasn’t paid up might be about to go out of business.

Control your stock

If you know what’s in stock and what you need to re-order, you’ll avoid tying up your cash in too much stock. To achieve this, reconcile your stock records at the same time as your bank account—be it weekly or monthly.

Stay friendly with lenders

Whether your small business is new or expanding, you may need the occasional cash boost from a bank or lender in the form of an overdraft, credit agreement, or revised accounts receivable terms. If you keep your bank and lenders updated about unforeseen outgoings or changes in forecasts, they’ll be more likely to treat a request favourably.

Access credit

If your business is growing rapidly, seek access to a line of credit from a bank or financier, such as an overdraft or short-term loan. In many cases, banks are willing to lend to a business if they can see a draft service contract or letter of intent. Once the client pays, you can pay your debt.

Tighten up your outgoings

Get in the habit of reviewing your utilities, subscriptions and general expenses once a quarter. It’s quite common for a business to outgrow a service or tool only to continue paying for it without good reason. Similarly, smaller expenses can add up over time if left unchecked.

Anticipate problems before they happen

Accounting management software helps you identify potential cashflow problems in advance by updating your cashflow forecasts and monitoring market conditions. You should also consider if your customers or suppliers are in financial trouble and take action if needed. If you’re worried, talk to your accountant, investor or business mentor before a small problem becomes an urgent one. Protecting your cashflow gives you better buying and negotiating power, which could save you money in the long term. If you know about a shortfall in advance, you can also extend credit if needed.

Getting the most from our automated accounts receivable system

Keep track of numbers that matter

Our accounts receivable system report shows how much you’re owed at any point in time by customers. You can use the report to keep track of :

  • How much your customers owe you
  • How long your customers have owed you money
  • Which of your customers owe you the most money
  • Due dates for sales invoices

Solve your accounts receivable software challenges

Typically accounts receivable software challenges include :

  • Not knowing how much customers or suppliers owe you due to incorrect data
  • Sending out invoices on time
  • Tracking payments against said invoices into your business
  • Providing payment methods that customers prefer

Manage accounts receivable and get paid what you’re owed

When your customer pays an invoice, you can record this payment. This marks the invoice as paid and helps you keep track of any outstanding values. Your Accounts Receivable report will be updated automatically.

For more information, please read our guide.

Advantages of accounts receivable software

Get paid faster

Accounting software can automatically reconcile your incoming payments, meaning you don't waste time manually transferring data.

Everything in one place

Track your income, expenses and more using a single solution. Easily see the state of your accounts receivable and what money is coming in on one helpful dashboard.

Find the right solution, wherever you are on your journey

Accounting software has everything you need to keep your business running smoothly. Find out more to see which solution best fits your business.

Find the Sage business software that best fits your business

Each company has its own set of ambitions, goals and markets, which is why you need a powerful, flexible accounting software. We’ve created a series of accounting software, so you’ll always have the financial support you need.

Sage Business Cloud Accounting

Online accounting software that’s perfect for small businesses looking to quickly create invoices, track accounts, and process payments.

  • Easy to set up and use, with the flexibility to manage business online anytime, anywhere.
  • Quickly create quotes or sales invoices, and monitor what's due to manage your customers.
  • Connect with your bank - no more manual processing or bank reconciliations
  • Collaborate with your accountant and reduce the time you spend on tax preparation.
  • Single Touch Payroll compliant payroll add-on accessible directly in the product
  • Customisable dashboards to gain visibility of how your business is performing 24/7
Learn more about Accounting

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