Intuit has integrated Melio into Quickbooks Online! It's essential to know more about this App and how to use it because Melio is easy and free! No subscription fee required! Just log in to your QuickBooks Online and use it for your expense payments, you will have the option to use Melio as one of your payment choices.
Intuit and Melio have partnered to offer QuickBooks users more business payment options.
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What is a Melio?
Accounts payable and accounts receivable functions are necessary parts of the accounting industry. They are two sides of the same coin. Melio's focuses on Accounts Payable, or that's at least half of what they do. As this function is the heartbeat of any business, it must be accomplished accurately and timely. Given the frequency of performing accounts payable, this should be accomplished with ease while also being secure and transparent. Fortunately, there are several apps out there that allow this to be done. One of these apps is Melio and Intuit has chosen to partner with them to give you more business payment options.
With Melio, QuickBooks users can pay any Invoice with a bank transfer for 'free', or can use their credit card to defer payment and earn rewards. Vendors can receive a check or have funds deposited directly into their bank account.
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With Melio integrated into QBO you begin by adding in your vendor and bill details. You can do this manually, or with automation by file upload or simply by taking a picture of an invoice. It is then auto-synced back-and-forth with QuickBooks. With the easy to use interface, you schedule your payment.
With the 'New' Schedule online payment button directly on your Bill window you can 'pay any vendor with a bank transfer or debit card for free or use your credit card to defer payments and earn card rewards (2.9% fee). Vendors receive a check or direct deposit.'
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One very convenient feature is that you can pay by bank transfer or credit card. You can do this even where credit cards are not accepted. Using a credit card allows the business owner to free up cash. This is all transparent to the receiver. As far as they are concerned a payment is just being made to them on your behalf. And for you there are available rewards (if offered) for using your card and which can be taken advantage of on your credit card billing cycle.
Simply put, if your cash situation is tight, you don't have to take out a loan to make payments. Now, you can pay vendors on time and choose how they get paid. Melio will mail a check on your behalf or make a deposit into your vendor's bank. This can be done even if your vendor isn't registered.
Melio gives QBO Users business payment options they may not have previously had available to them, especially from within QuickBooks.
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Melio is easy to learn, easy to use, FREE1 and conveniently located directly inside of QuickBooks Online. These are all reasons QuickBooks Online has chosen to integrate Melio within its platform. Melio also mails checks or makes digital payments so don’t be surprised if your clients quickly becomes reliant on its ease of use.
I suggest you get to know Melio because it might just be what helps your clients manage their cash flow needs. You can also find out more about Melio from this Firm of the Future article.
Disclosure: Melio is free to use, but if a user pays a bill with a credit card, they are charged a 2.9% fee.