Top 6 AR Automation Software for Quickbooks in 2024

Managing accounts receivable (AR) efficiently is essential for maintaining healthy cash flow and scaling your business. For QuickBooks users, integrating AR automation software can streamline invoicing, improve collections, and simplify reconciliation—all while reducing manual tasks and errors.

In this article, we’ll explore the top AR automation tools designed specifically for QuickBooks users, showcasing their key features, strengths, and why Centime is the best overall choice.

Why QuickBooks Users Need AR Automation Software

QuickBooks Online and Desktop are powerful tools for managing core financial processes, but they leave room for improvement in automating AR workflows. Manual AR management can lead to inefficiencies, delayed payments, and poor cash flow visibility. AR automation software bridges these gaps by providing:

• Streamlined Invoice Delivery: Automating invoice creation and reminders to ensure timely payments.
• Advanced Analytics: Providing insights into cash flow trends and customer payment behaviors.
• Improved Collections Efficiency: Reducing the need for manual follow-ups with automated workflows.
• Accurate Reconciliation: Ensuring all payments are applied correctly within QuickBooks.

Looking to tackle both AR and AP challenges? Check out our Accounts Payable features for more features on optimizing your financial processes.

What is the Best AR Automation Software for QuickBooks Users in 2024?

1. Centime: Best overall AR solution for QuickBooks Users
2. BILL: Best for small businesses with basic needs‍
3. HighRadius: Best solution for enterprises
4. Versapay: Best solution for client collaboration
5. Tesorio: Best for financial teams seeking advanced insights
6. Payference: Best solution for real-time cash positioning

Overview: Centime delivers a robust, all-in-one AR automation solution tailored for QuickBooks Online and Desktop users. Its deep integration with QuickBooks simplifies invoicing, collections, and reconciliation, while providing real-time cash flow forecasting to support strategic decision-making.

Key Features:

• Automated Invoice Delivery: Streamline invoice creation and ensure prompt delivery directly from QuickBooks.
• AI-Powered Collections Workflows: Automate reminders, escalations, and follow-ups, reducing manual intervention.
• Customer Portal: A dedicated self-service hub for customers to pay invoices, view payment history, and resolve disputes.
• PDF Invoice Attachments: Automatically attach original invoice PDFs to reminder emails for clear communication and easy customer reference.
• Custom Fields for Collaboration: Assign team members, track disputes, and manage workflows using synced custom fields for customers and invoices.
• Automated Payment Posting: Post payments received via CentimePay directly to QuickBooks, with manual options for failed postings.
• Cash Application Automation: Precisely reconcile payments to invoices, maintaining QuickBooks accuracy.

Enhanced Capabilities for QuickBooks Users

• Turnkey Integration: Sync data with periodic or on-demand updates, ensuring smooth onboarding and real-time accuracy.
• Streamlined Customer Collaboration: Improve customer relationships with tailored workflows and insights.
• Accurate Reconciliation: Reduce errors by automating payment tracking and posting processes.

Why Centime?

‍Centime goes beyond AR automation to provide an integrated cash management platform. By combining receivables, payables, and forecasting, Centime enables QuickBooks users to optimize their financial workflows, improve collections, and take control of working capital—all with minimal IT lift.Learn more about Centime’s QuickBooks integration or schedule a demo today.

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Overview: BILL is a straightforward platform designed for small businesses looking to manage both AR and AP. Its simple integration with QuickBooks makes it an accessible solution for businesses with limited resources.

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Overview: HighRadius offers AI-driven AR automation tailored for large enterprises. Its Autonomous Receivables platform enhances cash application and forecasting with minimal manual intervention.

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Overview: Versapay focuses on enhancing client relationships with its collaborative AR tools. It offers a customer self-service portal and integrates smoothly with QuickBooks.

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Overview: BILL (formerly Bill.com) is a straightforward AP automation tool that integrates well with QuickBooks, providing invoice data capture, routing, and payment capabilities ideal for smaller businesses. Tesorio leverages machine learning to optimize AR processes, focusing on predictive analytics and cash flow forecasting. Its features help financial teams gain visibility into their AR data, allowing them to make proactive decisions to improve collections and cash flow.

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• Complex Setup for Small Teams: May require significant onboarding for less tech-savvy users.
• Premium Pricing: Advanced features come at a higher cost.

Overview: Payference combines robust AR automation with enterprise-level features for mid-market companies. It integrates with QuickBooks to provide real-time cash position updates.

Key Features:

• Multi-Currency Support: Enables businesses to handle international invoices and payments.
• Real-Time Cash Position Updates: Tracks cash inflows and outflows for immediate visibility into working capital.
• Aging Invoice Tracking: Helps teams prioritize collections based on overdue payments.
• Automated Billing and Invoicing: Reduces manual efforts in generating and sending invoices.

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When evaluating AR automation tools for QuickBooks, consider:

• Integration Depth: Ensure bi-directional syncing with QuickBooks for accurate and up-to-date records.
• Scalability: Choose a platform that can grow with your business needs.
• Features: Look for tools that align with your business priorities, whether it’s forecasting, collections, or customer collaboration.
• Cost: Analyze both upfront and long-term costs to determine ROI.

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While QuickBooks is a leading accounting tool, many businesses face these recurring pain points when using it for AR management. Here’s how AR automation can help:

1. Manual Invoice Management
   Pain Point: Businesses often rely on manual efforts to create and send invoices, which can result in errors and delays.
   Solution: AR automation software generates and delivers invoices automatically, ensuring accuracy and timeliness.
2. Time-Consuming Payment Follow-Ups
   Pain Point: Chasing overdue payments can be a time sink for AR teams.
   Solution: Tools like automated payment reminders and escalation workflows reduce manual follow-up efforts and improve collection rates.
3. Limited Cash Flow Insights
   Pain Point: QuickBooks offers basic reports but lacks robust cash flow forecasting.
   Solution: AR automation platforms provide real-time analytics and predictive insights into cash flow trends, helping businesses make informed financial decisions.
4. Disorganized Customer Communications
   Pain Point: Managing customer inquiries, disputes, and payments across multiple channels can be chaotic.
   Solution: Many AR tools offer customer portals, enabling clients to view invoices, make payments, and resolve disputes in a centralized platform.
5. Reconciliation Errors
   Pain Point: Reconciling payments to invoices in QuickBooks is prone to human error.
   Solution: AR automation tools streamline cash application processes, ensuring all payments are matched accurately.
6. Scaling Challenges for Growing Businesses
   Pain Point: QuickBooks may struggle to handle AR needs as businesses scale and transaction volumes increase.
   Solution: Scalable AR platforms integrate seamlessly with QuickBooks to support growth without compromising efficiency.

With these pain points addressed, businesses can maximize their QuickBooks investment while saving time and reducing errors.

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Conclusion

The right AR automation tool can make all the difference in improving cash flow and reducing manual processes for QuickBooks users. While all the tools listed here bring something unique to the table, Centime stands out as the best overall solution with its robust features, user-friendly design, and advanced cash flow forecasting.

Ready to transform your AR management? Schedule a demo with Centime today and experience the difference.