Editor's Note: Our editorial feature topic for January is "Making Payments." During the month, we'll post numerous articles on accounts payable and other payment topics for QuickBooks Online and QuickBooks Desktop. Because of the number and complexity of apps, we'll cover these in our "App Aware" format. Look for these features interlaced with other regular and new bylines from our contributing authors.
Bill.com
Bill.com is purportedly the leading business payments company, processing 100-plus billion in payments annually. In addition, over 85% of the top 100 US accounting firms reportedly use Bill.com. And Bill.com has partnered with many of the largest US banks to provide streamlined services to users.
For QuickBooks users, Bill.com offers two different versions: Bill.com (sometimes referred to as Bill.com Complete) and Bill Pay for QuickBooks Online. We will briefly review both of these.
Bill.com Complete
Bill.com was designed to save companies time spent on financial back-office operations by automating the A/P process end to end. It helps businesses connect and do business by tying together finance and accounting programs, banks, customers, vendors, accounting professionals and documents.
Bill.com delivers everything you need to simplify every step of your bill pay process with automated approval workflows, paperless document management, domestic and international payment options.
And because Bill.com integrates directly with QuickBooks, all your activity—like creating a new bill or sending out a payment—automatically syncs. As a result, you spend less time on double data entry and hunting for typos, and your books are accurate and up to date.
Leveraging Artificial Intelligence (AI), Bill.com can help you streamline and scale your payments process by reducing manual tasks.
You can even keep track of all your bills when you are on the go with mobile access on the Bill.com iOS or Android app, so you always will know when a bill needs your attention. As a result, Bill.com helps you save time and increase efficiency for total financial control.
Bill Pay for QuickBooks Online
If you need a Bill Pay app for QuickBooks Online, that's powerful, but a little less sophisticated. Then you have the option of "Bill Pay for QuickBooks Online." It is the fully integrated version of Bill.com that enables you to pay and track bills from your QBO account if you are using Essentials, Plus or Advanced (it does not work with QBO-Accountant).
With this version, you can send domestic payments via ACH or check, track payment status, get complete remittance information and sync payments with QBO.
You also can make international payments in USD for a lower wire transfer fee than most banks and in local currencies with no wire transfer fee and competitive exchange rates.
Summarizing the Bill.com App Options
Bill.com gives you two great choices. You can use the Bill Pay for QuickBooks Online app that gives you more control and insight into your payables than QBO alone, along with a more manageable payment process and tremendous time savings on data entry, but not as many of the sophisticated bells and whistles as Bill.com Complete.
Or you can use Bill.com Complete, which gives you more financial control, customizable workflows, team collaboration, A/P process automation, and much more.
See the chart below for a summary comparison of the two apps:
You will find Bill.com and Bill Pay for QuickBooks Online, both listed in the Intuit QuickBooks Online App Store under "Make Payments." In addition, you can obtain more information about the Bill.com Complete (A/P) solution at Bill.com webpage and more about the QuickBooks Online App integration here.
Acknowledgments and Disclosures:
Graphics and content used within this feature were derived or adapted by the author in part from Bill.com source materials, including the Bill.com website, and both the Bill.com landing page and Bill Pay for QuickBooks Online at the Intuit QuickBooks Online App Store. Adapted source materials published within this feature by Insightful Accountant are for educational and product promotional purposes only.
Bill.com and Bill Pay for QuickBooks Online are registered trademarks of Bill.com LLC., a publicly-traded (NYSE: BILL) company headquartered in San Jose, California.
As used herein, QuickBooks and QuickBooks Online (QBO) refer to one or more registered trademarks of Intuit Inc., a publicly-traded corporation headquartered in Mountain View, California.
Any other trade names used herein refer to registered trademark products held by their respective owners. They are referenced for informational and educational purposes only.
This is an editorial feature, not sponsored content. No vendor has paid Insightful Accountant or the author remuneration of any type to be included within this feature. The article is provided solely for informational and educational purposes.