Bill.com is a cloud-based automated accounting and payment management platform that simplifies payment processing for users and clients. Designed for businesses, banks, and accounting firms, the system streamlines accounts payable (AP) and accounts receivable (AR) workflow from end to end.
The software provides digital payment options and a wide range of automated financial tools. It also comes with an online document management system that allows you to easily search and sort invoices, checks, and other documents.
Bill.com offers unlimited document storage and syncs with QuickBooks, Xero, Sage Intacct, and NetSuite to help you manage your accounting needs effectively. Offering an Application Programming Interface (API), the software enables users to perform better and get an overview of their business anytime and anywhere on any device.
Bill.com Features
Bill.com is an all-in-one portal that helps users and clients manage payments in less time. Aside from its robust AP and AR features, the software offers cash flow management, automated approval routing process, scheduling, and payment processor. Bill.com has seamless integrations with your accounting software.
With the software, you are on top of your business. Users are able to approve, pay bills, and check invoices with just a swipe and even chat with vendors and team members on the go. Overall, the software offers many services to users such as:
Digital Invoices
Through the Bill.com system, users are able to enter and set up automated electronic recurring invoices and billing to customers. You can also send friendly payment reminders and overdue notices directly to customers without extra effort. With this service, you can get paid faster.
Automated AP/AR Services
Bill.com enables you to pay your bills on time hassle-free. This is achieved by cutting the time spent on bill approvals and payments by 50%. It offers an accounts payable module where you can be invoiced electronically. You can also opt to make use of drag-and-drop functionality to manually enter the bills. The invoices are then sent to the review team and you can pay vendors and contractors via the automated clearing house (ACH) network and other payment methods.
Receiving payment also comes easy with Bill.com. Your customers can view their automated invoices online and pay within seconds. The software offers an online payment gateway for your customers to pay for any electronic payment type they prefer: credit card, PayPal, and ACH processing. You can also send personalized reminders to clients who can pay via any device. In all the methods, the payment will automatically be deposited into your bank account.
Software Synchronization for Automated Bookkeeping
No more double data entries. Bill.com works directly with your accounting software. It syncs with QuickBooks, Xero, Sage Intacct, and NetSuite. When you pay or get paid, the software automatically updates your accounting software as well as your bank account, ensuring the accuracy of records and immediate account reconciliation. Since books are kept up to date, users are able to get a real-time view and better insight of the business cash flow anytime and anywhere.
With its external integrations, the software also allows you to import and export data to and from other systems.
Documents at your Fingertips
No more searching for files. Bill.com keeps you organized through its document management system. You can easily find bills, invoices, and other documents you need in a few minutes with just a click. The software allows you to receive, store, and share documents electronically.
Approve and Pay Anywhere
Bill.com is deployed as cloud, web, and software as a service (SaaS). It can be used with any device, desktop, tablet, Android, and iOS. As a result, users can monitor and stay connected to the business even when they are out of the office. Approving payments, paying bills, checking the cash flow, and other tasks can be done even when you are on the road through Bill.com.
The software is reliable and has over 2.5 million network members exchanging business payments.
Client Management
Bill.com has features that allow you to access all your clients from one place and keep current with a to-do list for clients. It offers access tools and resources to help grow your practice and manage staff logins and every aspect of client billing.
Customer Support
Bill.com provides users with customer support. The system also offers one-on-one coaching for you to take advantage of its features and maximize your profits. The software comes with a note and comments feature where good customer relationship can develop between you and your customers.
Accountant Resource Center
The system offers all the tools necessary for you to grow your bill payment process. It comes with templates, handouts, and some of the best-proven practices that bring you more clients.
Bill.com also offers an accountant console, an online home base for accountants to manage their practice. It provides easy access to clients and comes with a current to-do list.
Security
Users can be assured of protection while using Bill.com. It comes with a secure system that meets the highest standard in data security, encryption, and fraud prevention. It also complies with Federal Financial Institutions Examination Council (FFIEC) standards for authentication and vendor third-party management.
Bill.com Pricing
Bill.com has four different pricing plans for businesses. It also offers a 30-day risk-free trial with no credit card required. The four business plans are as such:
The Essentials – $29 per user/month to manage payables or receivables. The plan includes import and export features, standard approval workflows, unlimited document storage, payment support, and positive pay with business payments network so you can connect and collaborate with your vendors and customers. You can choose from five standard user roles.
The Team Plan – $39 per user/month for payables or receivables and accounting software integration. The Team Plan has all the features of the Essentials Plan with QuickBooks Pro, QuickBooks Premier, QuickBooks Online, and Xero synchronization. The plan includes cash forecast and management with custom user roles.
The Corporate Plan – $59 user/month to manage both payables and receivables with robust workflow options. The plan includes every feature in the Team Plan, plus invoice and payment automation, discounted “approver-only” users and custom approval limit.
Custom Pricing and Additional Integration Features – The plan offers every feature in the Corporate, plus multi-entity, location, and accounting files and API access to Bill.com. The plan offers integrations with NetSuite, Intacct, QuickBooks Enterprise, and Salesforce.com.
For accounting firms, the Bill.com accountant program offers its services at $49 a month with a risk-free trial.
Conclusion
Bill.com is a billing and accounting solution that eliminates the hassles of making and receiving payments. It is built for businesses of any size and has the features you need to get paid two to three times faster than using the standard paper-based methods.
The software offers an efficient and standardized workflow. If you’re looking for a software product that lets you save time and get paid faster, Bill.com could be what you are looking for.
