Accounts Receivable (AR) and Accounts Payable (AP) are the lifeblood of any business, facilitating the flow of funds in and out of your organization. In the digital asset world of cryptocurrencies, managing AR and AP becomes an intricate process.

Challenges such as handling multiple digital currencies, fluctuating exchange rates, intricate compliance requirements, and security concerns have made the management of AR / AP far from straightforward. 

Selecting the right AR / AP software is no longer a choice; it’s a strategic imperative. Businesses must navigate these challenges and embrace the capabilities of advanced software solutions to thrive in this exciting digital financial landscape

In this article, we aim to provide you with a comprehensive list of various crypto AR / AP solution providers. We understand that the Accounting Back Office landscape is continually evolving and expanding. It’s dynamic, with new players and solutions emerging regularly. We recognize the need for future updates of this article.

Table of Contents:

• What is a Crypto AR / AP Solution?
• Compare Crypto AR / AP Providers.
• The AR / AP vs. Treasury Software Dilemma.
• Key Considerations for Choosing AR / AP tools.
• How to Select the Right Solution?
• List of Crypto AR / AP Solution Provider.

Before you start, we recommend keeping an eye on the evolving landscape to stay ahead in your crypto AR / AP journey.

What is a crypto AR / AP Solution?

A crypto AR / AP solution is software that helps businesses and finance teams manage their Accounts Receivable (AR) and Accounts Payable (AP) processes involving cryptocurrencies. They usually include invoice generation, payment tracking, payroll and support fiat settlement. easily manage crypto invoices, salaries, and expenses in a fast, non-custodial, and compliant way

Summary of Crypto AR / AP Solution Providers:

A quick glance into AR / AP providers:

Take a look at this crypto AR / AP solution comparison table:

You can read more about each of the crypto AR / AP solution providers at the end of the article.

Now, it’s important to learn about the capabilities of these solutions and which fits better to your business needs. 

The AR / AP vs. Treasury Management Software Dilemma

Accountants and financial professionals often grapple with a significant question when building their crypto financial tech stack: 

Should my team use a Treasury Management Software or a dedicated AR / AP solution?

• What are the key differences when managing crypto transactions? 
• How do I determine which features are essential for my organization’s financial needs? 
• When is a Treasury Management Software more advantageous for web3 finance teams? 
• When is a dedicated AR / AP solution a better fit? 
• How can I ensure seamless integration with our existing financial structure? 
• Are there compliance and regulatory considerations that might influence which AR / AP or Treasury Software is selected for managing crypto finances?

This dilemma has generated much discussion within the industry and while a quick answer may seem elusive, a concentrated article must be written into this topic.

Key Considerations for Choosing:

After presenting the list of providers, discuss essential considerations that readers should keep in mind when choosing an AR / AP solution.

Supported Cryptocurrencies: 

For seamless payments the AR / AP solution will automatically convert the currency included in the invoice to the one is meant to be paid with. The conversion can be natively developed by the software or have they integrated third-party swapping services for various currencies. Then, the system estimates the required cryptocurrency amount just before payment, incorporating a margin to accommodate market fluctuations. This approach ensures that both the payer and payee can be confident that the invoice is paid at the correct rate.

However, it’s important to note that the range of supported cryptocurrencies can vary between solutions, and not all cryptocurrencies are supported for invoicing or payment. Understanding the needs of your company on specific cryptocurrencies is crucial to ensure the smooth processing of transactions.

Integrations

When selecting a crypto AR / AP solution, the availability of integrations is a pivotal factor to consider. Integrations can significantly enhance the functionality and versatility of the platform, allowing for seamless connections with other essential tools and services. It’s important you can check how this software fits into your existing financial operations. This ensures a more efficient and productive financial management process, whether you’re dealing with e-commerce transactions, accounting software, or various payment gateways.

Let’s explore some key integration points to keep in mind:

• E-Commerce Integration:

E-commerce or merchant integration is critical for businesses that conduct online transactions. Your chosen AR / AP solution should seamlessly integrate with your e-commerce platform, ensuring that transactions are accurately recorded, invoices are generated effortlessly, and payments are received securely.

• Accounting Integration:

Integrating your AR / AP solution with accounting software is essential for maintaining accurate financial records. Ensure that the solution is compatible with crypto accounting subledgers, empowering your financial controller to get granular tracking and control of all your business crypto asset holdings and transactions.

It is also important if these in return connect to popular accounting ledgers, such as QuickBooks, Xero, Oracle Netsuite or other platforms you currently use.
An excellent accounting integration must simplify the transfer of financial data, minimizing manual data entry, and enhancing the data accuracy of your financial reports.

• Fiat Rails:

Fiat rails play a crucial role in facilitating payment processing, particularly for card payments. Your AR / AP solution should seamlessly integrate with popular payment gateways like Stripe to provide a smooth payment experience for your customers. This integration ensures that card payments are processed securely, and funds are transferred to your designated accounts without complications.

Fee Structure:

When selecting a crypto AR / AP solution, it’s essential to carefully examine the fee structure associated with your chosen provider. Fees can vary depending on multiple factors, including your pricing subscription plan and payment volume. It’s crucial to understand these fees to make informed financial decisions.

For those using swap mechanisms, additional considerations come into play. Swapping one cryptocurrency for another can introduce slippage and exchange fees. Each crypto AR / AP solution has its own unique fee structure. For reference, this fees go from 2.5% to 1% for most common payment volumes.

Team Access:

When evaluating a crypto AR / AP solution, it’s crucial to consider how team members can access and interact with the platform. The level of access and roles within the solution can greatly impact the efficiency and security of your financial processes.

API Integrations

API integrations are a critical element within a crypto AR / AP solution, serving as a gateway for businesses to engage with the platform and leverage all its capabilities. Selecting the appropriate AR / AP solution with a seamlessly connectable API is paramount if your financial processes need to scale at any given moment. This integration not only bolsters operational efficiency but also automates tasks, guaranteeing alignment of the AR / AP process with the company’s unique requirements.

Is it necessary for web3 accountants to have the ability to sync directly via the AR / AP to the general ledger, or is it better reconciled via software like Cryptoworth?

The choice between these approaches should consider the specific needs and preferences of web3 accountants and their teams, the complexity of the financial landscape, and existing tools and systems in place.

Security and Privacy

When considering an AR / AP solution, the choice of non-custodial options empowers businesses to maintain full control over their assets. Furthermore, the attainment of SOC2 Type 2 certification sets the gold standard, signifying a provider’s unwavering dedication to subjecting its systems to rigorous third-party security audits. Additionally, the software should allow you to  implement two-factor authentication (2FA) as a recognized best practice.

Customer Support

Customer support is a crucial aspect of the solution you’re subscribing to. It can include direct assistance, or a broader user community, tutorials, and resources. Look for a provider that offers direct access to customer support specialists or the product team via email, phone, or live chat. Make sure their support hours match your operational needs. Additionally, check for available resources like tutorials and a knowledge base for self-help.

Free Trial

When evaluating an AR / AP solution, the availability of a free trial can be a pivotal factor. A free trial can be a great opportunity to assess all of its features, usability, and compatibility with your business specific needs without committing to a financial investment. Note that a free trial should not be solely relied upon for financial operations. Instead, it serves as a glimpse into the ease of use, intuitive user experience, and functionality of the solution. Before progressing to the next stage, which often involves requesting a demo or deeper exploration to ensure the solution aligns with their financial needs and requirements.

---

Selecting the Right Solution:

Researching Available Options

Conduct thorough research to identify the most reputable and reliable providers. Check their track record, security features, and the range of services they offer. While we offer a comprehensive list here, do your due diligence and explore more.

Reading Reviews and Testimonials

When evaluating AR / AP solutions, Look for reviews and testimonials from other businesses in your industry to gauge the level of customer satisfaction and the overall experience of working with the provider. 

Before making your selection, be sure to check their rankings and customer reviews on platforms like G2, TrustPilot, and Capterra. These real-world experiences and feedback from other businesses offer invaluable insights into the provider’s performance, user satisfaction, and reliability. 

Additionally, remember that it’s never too late to reach out to colleagues in other companies, fellow CFOs, or crypto financial professional communities like CryptoCFOs, Web3CFO.Club, or Crypto Finance Hub for Web3 accountants. Their firsthand experiences and recommendations can further guide you in choosing the right AR / AP solution for your specific needs.

Comparing Features and Pricing

Go a level deeper from our comprehensive comparison chart (showcased above) to evaluate the features and pricing of various AR / AP solutions. Scrutinize subscription plans, transaction fees, and any extra costs like API access. A transparent, scalable pricing model ensures cost-effectiveness and aligns with your financial needs.

Consider the hidden fees such as transaction or network fees, security measures, customer support, and additional services they offer. Narrow down your choices to a few providers that align with your business needs.

---

List of AR / AP Solution Provider

Bitpay:

Bitpay offers a comprehensive crypto AR / AP solution, streamlining payment processing for businesses. The custodial platform supports 13 cryptocurrencies, ensuring a versatile payment environment. Noteworthy features include seamless integration with e-commerce platforms, third-party accounting integration, and customer support via phone and email. With a fee structure ranging from 1-2% + 25¢, Bitpay caters to businesses seeking efficient crypto transaction management. Security measures include SOC 2 compliance, reinforcing data protection. Learn more in bitpay.com

Coingate:

Coingate, a fintech company based in Lithuania, offers cryptocurrency payment processing services for businesses of all sizes. Supporting 69 cryptocurrencies, Coingate provides multiple methods for setting up crypto payments, including payment buttons, web PoS applications, API integration, plugins for e-commerce platforms, and accounting integrations via CSV exports. The platform also facilitates the buying and selling of various crypto-assets through different payment methods. With a fee structure of 1%. Learn more in coingate.com

CopperX:

Copperx offers an invoicing solution tailored for web3 businesses to manage payments in crypto and fiat currencies. Its solution supports 12 currencies, or payment methods with automatic currency conversion. Key features include non-custodial nature, checkout UX & API, and integration capabilities with accounting tools like QuickBooks and Xero. Customer support is accessible via chat and email. Learn more in copperx.io

Coinshift:

Coinshift is a treasury management platform tailored for DAOs and organizations. Operating on a non-custodial model, Coinshift prioritizes a multisig solution through Safe Integration. The platform facilitates operations across multiple accounts and blockchain networks, enabling confident processing of payroll, grants, and expenses, including mass payouts and stream payouts. Coinshift also offers portfolio tracking, cash flow analysis, and accounting integrations via CSV exports. Support for 9 currencies, API accessibility, and customer support via Discord. It also provides a free trial option. Learn more in coinshift.xyz

CoinPayments:

CoinPayments stands as a global crypto payment gateway. Operating on a custodial model, it offers real-time global payments with processing fees ranging between 0.5% and 0.1%. With support for 175 currencies, the platform provides a diverse ecosystem for businesses, crypto users, and individuals. Some features include auto coin conversion, a cryptocurrency vault, a point of sale (POS) system, and auto-forward for automatic payments. The platform seamlessly integrates with popular e-commerce platforms. Customer support is available via chat, and the platform offers a free plan for users with monthly volumes up to $15k. Learn more in coinpayments.net

LoopCrypto:

Loop Crypto provides payment infrastructure crafted for web3, integrating crypto payments for businesses and projects. Loop enables autopay functionality for payments via non-custodial wallets, including multi-sigs like Gnosis Safe. With integration capabilities with Stripe, Loop adds automated subscriptions features, discount codes, free trials, and versatile support for various payment use cases. They support payments via stablecoins and popular ERC-20 tokens and are able to add any ERC-20 token with a price feed upon request. Learn more in loopcrypto.xyz

Request Finance:

Request Finance is a web application designed for Companies, DAOs, and Freelancers to efficiently manage crypto invoices, salaries, and expenses in a fast, non-custodial, and compliant manner. This software supports 150 cryptocurrencies, facilitating payments denominated in local currencies and settled in crypto. With a fee structure ranging from 0.2% to 0.5%. Request Finance simplifies accounting by allowing users to maintain their books in their local currency. Features include invoice customization, real-time invoice tracking, batch payments, and audit-ready export capabilities. The platform offers team access, an API, and customer support via email, Discord, and scheduled calls. Learn more in request.finance

Conclusion:

In conclusion, choosing the right AR / AP solution is paramount in the digital financial landscape. Key factors to consider include supported cryptocurrencies, integrations, fees, team access, API capabilities, security, and customer support. 

Prioritizing your company’s custody fit options, SOC2 Type 2 certification, and two-factor authentication to enhance security. While a free trial offers a glimpse of usability, due diligence and direct demos are crucial. Make sure to take the time to get into a few demo calls. Research, reviews, and advice from colleagues and professional communities aid in the final decision-making.

Furthermore, as more businesses adopt these solutions, managing cryptocurrencies becomes easier. Evaluate features and pricing to align the chosen solution with your specific business needs, ensuring a secure financial management process.

• 
  Explore What’s New: November Product Update
  Sors’ 99% accuracy boost, AR/AP tool research, new Web3 accountants, and DeFi tracking. Our product features enhanced asset mapping, Xero integration, and support for 145+ networks. Subscribe for more!
• 
  How Sors achieved 99.9% of Crypto Data Accuracy Boost with Cryptoworth: A New Study
  Discover how Sors Digital Assets transformed their financial operations by partnering with Cryptoworth. Learn how it helped them to reduce errors, increase data accuracy, and grow efficiency with their crypto financial management practices.
• 
  How to Choose a Crypto AR / AP Solution ?
  Compare a comprehensive list of various crypto AR / AP solution providers. What is a crypto AR / AP Solution? A quick glance into AR / AP providers.