Searching for the best recurring billing software for your business?

Save yourself time and stress. We’re here to help you find the right recurring billing software solution for your work.

What is recurring billing software ?

Recurring billing software is invoicing and payment software specifically designed to collect on a subscription basis. It's one of those ubiquitous pieces of tech that pretty much everyone uses without giving it much thought at all. Recurring billing software is specifically designed to prevent late payments, automate bills and take the stress out of the process.

What 3 key Recurring Billing Software features should I look for?

Dunning management

Dunning management is a feature specific to recurring billing software that helps users deal with failed payments, i.e., bounced checks or declined credit cards. Whatever the reason for the payment failure, dunning systems can help address the issue in two ways: charge retries and customer communication. Software should be able to automatically retry processing a payment a few days after the initial decline. Some systems are already programmed with a retry schedule, and others allow managers to determine when and how often the system should retry payments. It's always important to keep the customer in the loop, but this is especially true when payments don't go through. Most billing systems will be able to send automated, form-based emails to notify customers of payment failures, retry schedules, next steps etc.

Invoicing

This one may seem obvious for a billing system, but it's worth noting the specific features of recurring payment invoicing that you should be on the lookout for. The key here is clarity—for you and for your customers. Recurring billing invoices should be able to display every type of charge, including upcoming or missed payments, accrued interest fees, taxes etc. You should also be able to view past invoices for the entire customer relationship history just in case any discrepancies occur. Additionally, invoicing functionality should be capable of automating the creation, scheduling and sending of invoices as well as enabling customers to complete payments through an electronic portal.

Trial management

Trial subscriptions certainly aren't a required feature, but they can help build your brand and name recognition by making your customers more inclined to test out the system and increasing the number of regular subscribers overall. If you decide to offer free trials, you'll want to make sure your billing software can handle tracking these users and either rolling them into regularly paying customers or end their access once the trial period ends. Trial management features should also include follow-up emails to keep customers informed about when their trial ends and what options they have for continuing the service.

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Showing 1 - 20 of 104 products
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Showing 1 - 20 of 104 products

Chargebee

Chargebee is a cloud-based accounting solution for businesses of all sizes across various industries such as telecommunication and media, e-commerce and IoT. The solution is PCI Level 1 certified and offers features such as subscr...Read more

4.31 (45 reviews)

Odoo

Odoo Point of Sale (POS) is part of Odoo’s integrated suite of business applications. The module is available both on and offline and provides unified data across stores and has an integrated inventory management function. Od...Read more

Nexway

Nexway Monetize is an eCommerce and payment processing solution that helps businesses handle operations related to sales, invoicing, billing and order fulfillment. Businesses can leverage the product cataloging functionality to up...Read more

4.33 (3 reviews)

Zoho Subscriptions

Zoho Subscriptions is a cloud-based accounting solution catering to small and medium-sized businesses across various industries such as SaaS startups, gyms, wine clubs and daycare facilities. The solution offers a native mobile ap...Read more

4.49 (79 reviews)

Tridens Monetization

Tridens Monetization enables service providers to quickly launch innovative digital subscription and usage-based services that differentiate against competitors, develop recurring revenues, and deepen customer relationships. ...Read more

4.94 (17 reviews)

Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more

4.17 (312 reviews)

17 recommendations

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Rerun

Rerun is a standalone billing and invoicing solution designed for small to midsize businesses in the United States and Canada. With Rerun, users can customize payment streams and set up recurring billing, track account activity an...Read more

4.50 (6 reviews)

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ChargeOver

ChargeOver is a cloud-based standalone billing and invoicing solution designed for businesses across all industries. The platform offers functionalities including standard or customized reporting, a self-service customer portal, b...Read more

4.75 (63 reviews)

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QuickBooks Desktop Pro

QuickBooks Pro helps to automate the billing and invoicing process and work order management from a single reconciliation window. With 'Bank Account Reconciliation' feature, users can link their bank accounts and define workflows ...Read more

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Wave Accounting

Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses...Read more

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Software pricing tips

Read our Recurring Billing Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

FreshBooks

FreshBooks takes billing out of your hands and puts it on autopilot. Set up automated invoicing, online payment options (ACH and Credit Card), and late payment reminders to get paid 2x faster. Next, boost team productivity with pr...Read more

4.47 (3600 reviews)

15 recommendations

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Quickbooks Online

QuickBooks Online enables users to download and reconcile credit card transactions that allows businesses to organize weekly timesheets and track bank deposits. What is Quickbooks Online? Quickbooks Online i...Read more

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Quicken

Quicken is an accounting solution for rental properties that comes with rent payment tools, which allow enterprises to track outstanding payments and send rent receipts to tenants. Additionally, its planning module lets users view...Read more

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ReliaBills

ReliaBills is a web-based billing and invoicing accounting system that is suitable for companies with an annual revenue up to $100 million. The system is available to the following industries: advertising, construction, consulting...Read more

4.90 (20 reviews)

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PaySimple

PaySimple is the leading payments management solution for service-based businesses, powering the cashflow of over 20,000 companies nationwide. PaySimple builds long-term partnerships with companies to drive growth providing flexib...Read more

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FreeAgent

FreeAgent is award-winning online accounting software designed specifically for small businesses, freelancers and their accountants and bookkeepers. Over 100,000 customers use FreeAgent to manage their business accounts – all done...Read more

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Patriot Accounting

Patriot Software offers accounting software for American businesses and accountants. Patriot's accounting software is affordable and easy to use for the non-accountant, but has powerful capabilities for accountants. Patriot Premiu...Read more

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BQE CORE Suite

BQE Core makes it easier and more profitable to run your business. It organizes information, automates repetitive tasks and allows your firm to spend more time providing service to your clients instead of managing internal process...Read more

4.42 (527 reviews)

22 recommendations

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Bill.com

Bill.com is a cloud-based accounting solution specializing in billing and invoicing. With Bill.com, users can receive payments from clients, pay vendors and contractors and handle financial reporting. Bill.com includes an acc...Read more

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Invoiced

Invoiced is a cloud-based accounting solution suitable for mid-market to enterprise-level businesses across a range of industry verticals. It offers an integrated suite with four key modules, namely, Invoice-to-Cash, Recurring Bil...Read more

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Popular Recurring Billing Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

Managing recurring expenses is no easy feat.

You've got to deal with car insurance, housing costs, credit card bills, grocery shopping and on and on and on. There are a lot of things to remember, and missing payments on any one of these important expenses can result in very serious consequences.

Fortunately, there's recurring billing software specifically designed to prevent late payments, automate bills and take the stress out of the process.

Even more fortunately for businesses, the same accounting software can have a major impact on normalizing monthly income, managing customer subscriptions and keeping track of payments from a high volume of customers.

Because of the many benefits for businesses and customers, choosing the right billing software is essential. These systems are offered in a variety of configurations and platforms and at a number of different price points, which makes researching your options crucial to the selection process.

Here's what we'll cover:

What Is Recurring Billing Software?
Common Functionality of Recurring Billing Software
How Is Recurring Billing Software Priced?
Benefits of Recurring Billing Software

What Is Recurring Billing Software?

Simply put, recurring billing software is invoicing and payment software specifically designed to collect on a subscription basis. It's one of those ubiquitous pieces of tech that pretty much everyone uses without giving it much thought at all.

For example, anyone who holds a gym membership has probably been entered into a recurring billing system that holds their payment information, sends regular reminders of upcoming payment due dates and automates calculations for things such as state taxes and discounts.

Recurring billing dashboard from Zoho Subscriptions

Recurring billing dashboard from Zoho Subscriptions

There are plenty of benefits afforded to customers with recurring billing options, but it's hard to overstate the value this software offers to businesses—the number one advantage being that more and more consumers are shifting their preferences toward subscription-based services over pay-per-product models.

Consider Amazon Prime. The supply chain goliath's subscription-based service that provides users with access to faster shipping, streaming music and video and discounted products is now estimated to have about 80 million members in the United States.

The lesson here is that customers are willing to pay regular and repeated fees in exchange for goods or services they deem worth it, and, for the most part, any business can find ways to capitalize on the booming subscription economy.

Common Functionality of Recurring Billing Software

Before searching for a recurring billing software that best fits your business needs, you'll want to have an idea of what features are available to you, which ones would be nice to have and which ones are mandatory for your business model.

Here are some of the common functions found in most recurring billing products.

Dunning management Dunning management is a feature specific to recurring billing software that helps users deal with failed payments, i.e., bounced checks or declined credit cards. Whatever the reason for the payment failure, dunning systems can help address the issue in two ways: charge retries and customer communication.

Software should be able to automatically retry processing a payment a few days after the initial decline. Some systems are already programmed with a retry schedule, and others allow managers to determine when and how often the system should retry payments.

It's always important to keep the customer in the loop, but this is especially true when payments don't go through. Most billing systems will be able to send automated, form-based emails to notify customers of payment failures, retry schedules, next steps etc.
Invoicing This one may seem obvious for a billing system, but it's worth noting the specific features of recurring payment invoicing that you should be on the lookout for. The key here is clarity—for you and for your customers. Recurring billing invoices should be able to display every type of charge, including upcoming or missed payments, accrued interest fees, taxes etc. You should also be able to view past invoices for the entire customer relationship history just in case any discrepancies occur.

Additionally, invoicing functionality should be capable of automating the creation, scheduling and sending of invoices as well as enabling customers to complete payments through an electronic portal.
Trial management Trial subscriptions certainly aren't a required feature, but they can help build your brand and name recognition by making your customers more inclined to test out the system and increasing the number of regular subscribers overall. If you decide to offer free trials, you'll want to make sure your billing software can handle tracking these users and either rolling them into regularly paying customers or end their access once the trial period ends.

Trial management features should also include follow-up emails to keep customers informed about when their trial ends and what options they have for continuing the service.

How Is Recurring Billing Software Priced?

There are a number of different pricing models to choose from when determining how to set up your recurring billing process. The most common configurations are:

  • Fixed price. This is the most basic billing configuration that simply charges the same amount each billing cycle.
  •   
  • Quantity-based/add-ons. Begins with a base fee and then allows users to tack on additional services they'd like to have for corresponding additional costs to the weekly/monthly/quarterly/yearly bill.
  •   
  • Metered billing/variable usage. Bill customers according to usage instead of a flat rate.
  •   
  • Packaged pricing. Allows users to select from a list of pre-priced packages or service bundles and pay that rate for that specific set of products or services.
  •   
  • Custom pricing. Allows you to set your own charges for individual customers using whatever pricing system you prefer.

Benefits of Recurring Billing Software

We've already touched on a few of the advantages offered with recurring billing software, but there are a few more—for both the consumer and the business—that are worth being aware of.

For customers, recurring billing systems take away the burden of remembering to make regular payments while also ensuring uninterrupted services—be that in the form of electricity to their houses or regular delivery of expected goods.

For businesses, especially smaller ones, recurring billing is an invaluable tool to normalize revenue and automate payment collection processes, so business owners can focus on other things.