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10 Benefits of the Bill.com Add-on for Quickbooks

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Bill.com Add-on for Quickbooks

QuickBooks Online has become the go-to intuit application for bookkeeping. Although it does not offer all the familiar capabilities that the QuickBooks desktop offers, it is considered more user-friendly by non-accountants. And although QuickBooks Online might not have all the features of the traditional QuickBooks, users have the ability to implement add-ons that will increase the functionality and expand the capability of the online edition.

Bill.com Add-on for QuickbooksYou will usually be able to put more detailed information into the add-on application than going directly into QuickBooks. It will then automatically flow through to QuickBooks online, and you will save time by not having to double input items. Apps can be accessed by other members of your team without giving them access to the full QuickBooks platform.

Today, I want to go over the bill.com add-on. As many know, this is a great app to have. It is a very efficient tool that has a lot of benefits. The main function of the app is to automate your payables and receivables online. By doing this, you will have time to concentrate on more critical business issues.

Bill.com benefits include:

  1. Improving financial management– electronic payments provide small businesses more accuracy in the payables processing and cash flow
  2. Less paperwork– Businesses can scan and email all bills and other documents straight into bill.com. When logging into bill.com, new bills can be viewed directly in the inbox. Users are able to create bills, add credits, add payments received, add vendors, etc.
  3. No more signing checks– You can pay bills from anywhere. The app prints and mails the checks for you, or pays them electronically. The payment automatically syncs with QuickBooks.
  4. Cost savings– Small businesses can save a lot of money due to the decrease of labor and supply costs.
  5. Convenience– As noted above, businesses can access and pay bills anywhere.
  6. Security– CheckFree Guarantee backs 100% of payments.
  7. Internal controls– Due to the effective and efficient process, a small business can easily create a set of internal controls to guide the organization through a streamlined process.
  8. Efficiency– Businesses are able to aggregate multiple invoices into one payment.
  9. Stop payment– Request a stop payment any time prior to specified delivery date.
  10. And you can always print images of checks if you still like the idea of having paper records.

Payments can usually be made electronically. However, some payees can not accept electronic checks. They will instead receive a laser printed check that will be set up on a specific delivery date, provided you have allowed 4 business days for payment.  For payees that can receive electronic payment, the payments will arrive as soon as the next business day.

In conclusion, the Bill.com add-on for Quickbooks is a great tool to use if you pay multiple bills each month. Using this program will greatly reduce the time it takes to go through the payable and receivable cycles. As always, I am here to help if you have any questions.