Recently, more and more companies have been partnering up with QuickBooks Online to enhance your experience with cloud based accounting. Bill.com has been the most popular update to come up in the recent years, and it may be worth looking into for your business
What is Bill.com?
Bill.com is a US based cash flow management and accounting system. It has the capability to process bill payments, send invoices, collect payments, make online ACH payments, and much more. It is great for eliminating the printing of checks, and manual online payments. Bill.com makes all your payments for you from one simple screen, and simplifies the cash flow management process. You can even receive your payments from your customers electronically though this web-based
Bill.com finally makes approving and paying bills easy tasks.
1. Scan in your weeks’ worth of bills and code them into Bill.com
2. Bills route to the proper approvers, alerting them with an email that a new bill is available for them to review. They can approve or deny the bills with one click of the mouse (or tap of a finger on the mobile app
3. Approved bills can be paid through electronic ACH payments, or they can print and mail out a paper check for you.
The whole bill approval and payment process is contained within Bill.com. Paid invoices will sync with your accounting software so there is no double entry. Bill.com simply takes the extra work out of processing your payments for you. It makes all the proper entries after payments are made, and makes paying your bills on time simple and fun.
Bill.com provides an online payment gateway for your customers to pay your business through different methods of electronic payments: ACH, credit cards, and PayPal. Any method you chose, any of these electronic payment methods will be deposited into your bank account via direct deposit.
All your customer has to do is sign in with their Bill.com account, and search for you within the Bill.com “Network.” Once you and your customer have linked up, you can then receive payments from them, and send them reminders that they have a payment coming due to you. You can even see if your customer has viewed an invoice that you sent to them via Bill.com
You can schedule recurring invoices to be sent out, and schedule automatic payment reminder and overdue notices for any outstanding unpaid invoices.
Just like the accounts payable automation solution, Bill.com will update to your accounting software when you receive payments. There is no need to open your accounting software and do double entry.
Bill.com is designed to save you time and materials with their online payment system. You can send and receive payments automatically through bill.com, by just paying the monthly subscription fee (like QuickBooks Online offers).