search icon

Accounts receivable management software

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

Get paid what you're owed

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

How to manage accounts receivable

Keep a ready cash flow forecast

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

Control your inventory

If you know what’s in stock and what you need to reorder, you’ll avoid tying up your cash in excess inventory. 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 favorably.

Access credit

If your business is growing rapidly, seek access to a line of credit from a bank or financial institution, 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 settle your debt.

Scrutinize your outgoings

Get into 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 arise

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

Getting the most from our automated accounts receivable system

accounts payable screen

Keep track of numbers that matter

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


  • How much your customers owe you
  • How long your customers have owed you money
  • Which customer owes you the most money
  • Due dates for sales invoices
accounts payable screen

Overcome 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 into your business against said invoices
  • Accepting the payment methods customers prefer
accounts payable screen

Manage accounts receivable and get paid what you’re owed

When your customer pays an invoice, this payment can be recorded. The invoice is marked as paid, which helps you keep track of any outstanding amounts. Your Accounts Receivable report will be automatically updated.

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 visualize the status of your accounts receivable and what money is coming in on one helpful dashboard.

Find the right solution, wherever you are along 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.
Discover accounting options

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 packages, so you’ll always have the financial support tool you need.

Sage Business Cloud

Accounting

Adaptive online software accounting software, perfect for startups, micro and small businesses looking to manage their finances and control cash flow.

  • Simple and powerful solutions with an unlimited number of customers
  • Accept and receive payments with multi-currency functionality (add-on required)
  • Create, send and know when your clients receive their invoices.
  • Balance your books and control your business finances
  • Best invoicing software for small businesses
Go to Accounting
Sage 50cloud

Accounting

Powerful accounting software for established businesses wanting to oversee their accounts, customers, and suppliers.

  • Control complex financial needs such as budgets, cash flow, invoices, and inventory
  • Create in-depth business reports
  • Balance your books and control your business’ finances on the go
  • Stay up to date with the latest compliance requirements for GST/HST, payroll and corporate taxes
  • Integrate with Microsoft 365 for online backup, intelligent reporting, and Outlook contact sharing
  • Run your business more efficiently with integrated payments and faster bank reconciliation
Go to Sage 50cloud Accounting

Get practical accounting advice

Sage Accounting updates: The way you work just got a lot easier

Sage Accounting updates: The way you work just got a lot easier

This month, Adrian Malpass, Product Manager at Sage, covers some exciting updates to Sage Accounting.  At Sage, we’re here to support you and your business during uncertain times and we want to make sure you can get the most out of your business software when you need it most. With that in mind, we’ve made […]

Read More Read More
AutoEntry: An Accountant's Case Study

AutoEntry: An Accountant's Case Study

How incorporating AutoEntry can help bookkeepers save time and money for their clients by cutting down on manual receipt and invoice entry

Read More Read More
Small business accounting: Cash flow 101

Small business accounting: Cash flow 101

Are you a small business just getting started? In this video you will learn all you need to know about cash flow and why it is important for you and your business to succeed. Download our free Cash Flow Statement and follow along with our video on to help get you started. Read our blog […]

Read More Read More
Get more Sage Advice