19 Best Billing Software To Accelerate Cash Inflows In 2024

Xero is a cloud-based accounting software designed for small and medium-sized businesses.

Why I picked Xero: I like that it provides a comprehensive suite, with tools for bookkeeping, billing and invoicing, bank reconciliation, expense tracking, and financial reporting, for under $15/month.

Xero Standout Features and Integrations:

Features include a very user-friendly interface. I think where Xero really excels is in making accounting tasks more approachable to small business owners who don’t have an accounting or finance background.

I think Xero comes with native Stripe integration and gives you the ability to safely accept credit card payments or direct debits.

Integrations include Shopify, Stripe, Hubspot, and Mailchimp.

Stax Bill is a powerful billing software designed to automate the complexities of subscription management and recurring billing for a wide range of businesses.  By providing a comprehensive platform, it allows companies to enhance their billing processes, improve revenue collection, and enhance customer satisfaction.

Why I picked Stax Bill: The platform’s robust automated invoicing and subscription capabilities ensure that businesses can handle a high volume of recurring invoices efficiently, reducing manual errors and saving valuable time. Its ASC 606-compliant revenue recognition feature helps businesses adhere to financial reporting standards while its advanced dunning management system and credit card retry schedules help minimize the incidence of failed payments. Overall, this helps ensure a steady revenue flow.

Stax Bill Standout Features and Integrations:

Features include customizable invoicing, real-time analytics and reporting, multi-currency support, tax management, discount and promotion management, payment gateway integration, customer account hierarchy, self-service portals, usage-based billing, flexible pricing models, invoice templates, subscription lifecycle management, and detailed customer insights.

Integrations include QuickBooks, Xero, Salesforce, HubSpot, NetSuite, Intacct, Avalara, Authorize.net, Braintree, Stripe, and PayPal. 

Stax Pay is an all-in-one platform that offers secure, multi-method payments for businesses. It simplifies payment processes and provides transparent pricing, making it a suitable choice for businesses looking for a secure and comprehensive payment solution.

Why I picked Stax Pay: Stax Pay's transparent pricing model aligns with the need for a straightforward and comprehensive payment processing solution. In judging its capabilities, what makes Stax Pay stand out is its ability to accept multiple payment types and the seamless integration of necessary tools within a single dashboard, which is critical for efficient business management.

Stax Pay Standout Features and Integrations:

Features include quick and easy payment acceptance, automated billing, and seamless surcharging with industry-leading compliance. Stax Pay offers subscription billing, surcharging programs, and additional resources such as insights, API documentation, and support knowledgebase.

Integrations include Slack, Zapier, Microsoft Office, Google Suite, and CRMs. Stax Pay also supports comprehensive mobile software development kits in Javascript and Python, and a language-agnostic RESTful API.

Online Check Writer is a simple and secure way for businesses to pay and get paid. The software supports ACH payments, direct deposits, checks, and debit and credit card payments as well.

Why I picked Online Check Writer: I like that it offers a free way to send and receive payments, with reasonable transaction fees.

Online Check Writer Standout Features and Integrations:

Features include a mobile app that allows you to accept payments and print checks.

In my opinion, Online Check Writer’s transaction fees are reasonable at 1% on their free plan, up to a maximum of $5, which is lower than other services like PayPal. This has all of the basic AP and AR features businesses need to send and receive payments.

Integrations include QuickBooks, Xero, Gusto, Zoho Payroll, BILL, and Zapier.

Chargebee is a popular billing software with a focus on subscription-based or recurring billing. I think it would probably be a good fit for fast-growing SaaS and eCommerce businesses.

Why I picked Chargebee: I feel like this software will make it easier for businesses to manage and collect subscription-based payments from their customers. It simplifies the process of onboarding customers, as well as upgrading, downgrading, or canceling subscription plans.

Chargebee Standout Features and Integrations:

Features include support for a wide range of billing models. I saw that Chargebee supports everything from one-time charges up to more complex subscription plans with tiered pricing.

Chargebee has tools to assist with invoicing and payment collection through a secure payment gateway. It also supports dunning management, meaning it will automatically retry in the event of a failed payment.

Integrations include Sage Intacct, QuickBooks, Xero, Netsuite, Salesforce, Hubspot, Microsoft Dynamics, Zoho CRM, Mailchimp, Slack, and dozens more, plus other 3rd party software integrations through Zapier.

Most billing software is only designed to invoice customers for standard line items or one-time charges. Tridens Monetization is unique in that it also allows for usage-based billing.

Why I picked Tridens Monetization: Tridens looks to me like it’s been specifically designed for the telecommunications, energy, and utility industries. I think companies that need to bill customers for usage of electricity or natural gas will find Tridens can make their processes much more convenient. I can see it also being applicable to subscription-based services from media or SaaS companies.

Tridens Monetization Standout Features and Integrations:

Features include flexible pricing and monetization models. Triden’s ability here is what really stands out to me.

Triden’s customer web and mobile apps let your customers view their account balance and usage and pay their bills online. I was also impressed by the amount of analytics and reporting tools Tridens offers, including custom dashboards and customizable reports.

Integrations include Netsuite, SAP, Microsoft Dynamics, Salesforce, Stripe, Paypal, and SureTax.

BILL (formerly Bill.com) is a cloud-based software and billing platform. It can help you to digitize your accounts payable, accounts receivable, and other financial processes in your business and to make them run more efficiently.

Why I picked BILL: I like that BILL stores everything in the cloud and reduces paper-based processes. Plus, you don’t need to install software on specific machines or keep it updated. I would normally be concerned about security with cloud-based billing software. However, BILL keeps all payment processing in-house and uses bank-level encryption and secure data center facilities with more than one physical location for full redundancy. I also like that it supports international payments in over 130 countries.

BILL Standout Features and Integrations:

Features include support for multiple payment options, including ACH (automated clearing house), virtual cards, and online payment reminders.

I like that BILL provides flexibility for billing customers and accepting payments, even internationally. BILL also has approval workflows for managing bills and payments more efficiently. Plus, it leaves behind a clean audit trail of all transactions.

BILL’s real-time reporting on cash inflows and outflows help companies monitor their financial health. The forecasting tools seem like they'd be helpful for strategic planning, too.

Integrations include Netsuite, Sage, Xero, QuickBooks, SAP, Freshbooks, and Hubdoc.

Rossum is an AI-powered document processing software. It helps businesses to extract data from documents like purchase orders, invoices, and receipts.

Why I picked Rossum: Rossum uses optical character recognition (OCR) to help quickly extract data from scanned documents. What I think sets Rossum apart is its machine-learning algorithms and AI technology. This means the software continually gets better, faster, and more accurate at processing documents over time as it gets to know the document formatting of your particular vendors and customers.

Although Rossum itself isn’t a billing software, it natively integrates with the most popular choices and pays for itself if you consider the time saved in the billing process.

Rossum Standout Features and Integrations:

Features include the ability to greatly reduce manual data capture. Rossum claims their software can save you 82% of the time on document validation. Rossum seems quite good at reading business documents like a human, and it adapts well to changes in document style, layout, and formatting.

Overall, I think it could help companies save a lot of time spent validating and entering billing data.

I also like how Rossum’s analytics and reporting features can help with troubleshooting.

Integrations include BILL, QuickBooks, Freshbooks, Xero, SAP, NetSuite, Zoho Books, Coupa, and Dropbox.

Xledger is a cloud-based financial management system designed to provide businesses with a range of accounting and financial tools. It aims to automate a significant portion of accounting and financial tasks.

Why I picked Xledger: As a billing software, Xledger automates complex intercompany transactions, reducing administrative burdens and minimizing errors. Its support for multiple currencies and local financial regulations makes it ideal for global operations and managing multi-entity operations. Its centralized system also supports real-time analytics and reporting, enabling immediate visibility into the financial performance of each entity.

Xledger Standout Features and Integrations:

Features include project accounting to manage project costing, billing, and tracking of project financial performance. The software also offers budgeting and forecasting to aid financial planning and analysis.

Furthermore, Xleder's automated accounts payable and receivable manage the inflow and outflow of cash related to customer invoices and vendor bills to help improve overall workflow.

Integrations include GoldFinch, Salesforce, Microsoft Dynamics CRM, JPMorgan Chase Bank, Chase Credit Card, Harvest, Magento, and more.

QT9 is an enterprise resource planning (ERP) software. This means it aims to integrate various different processes within an organization into one application. This includes billing features and accounts receivable, as well as things like inventory management, quality control, customer relationship management, and more.

Why I picked QT9 ERP: I think once a company reaches a certain size, it becomes cumbersome to have many different specialized softwares for individual business processes. I feel that larger companies can benefit from consolidating many of these features.

QT9 ERP Standout Features and Integrations:

Features include 18+ pre-installed modules. I like that QT9 allows you to have your purchasing, accounting, AR & AP, general ledger, and other finance modules all centralized into a single software. I think this will help reduce the need for individual spreadsheets that require manual data entry, as well as data import and export.

QT9 allows finance and other processes like inventory control, manufacturing, and shipping to share data directly. The modules are highly scalable, so you can roll out your implementation in phases and upgrade one module at a time as your company grows.

Integrations include QuickBooks and Sage 50.