Overview

Bill.com is a cloud-hosted accounting tool specializing in invoicing and billing. The platform allows you to receive payments from customers, pay contractors and vendors, and manage financial reporting. It offers an accounts payable module, where you can get electronic invoices or utilize drag-n-drop features to enter bills manually. Then, you can send invoices to your colleagues for review. The software supports various payment methods like paper checks and ACH payments.

With Bill.com’s accounts receivable module, you can send your clients automated digital invoices and reminders. Similar to the accounts payable module, you can choose your payment receipt method from PayPal, credit card, ACH, or ePayment. The application can integrate with other accounting products like Intacct, Xero, and QuickBooks.

Benefits

Accounts Payable

Bill.com helps you overcome business bill payment hassles. You can email, fax, or scan your contracts, bills, etc. to the software, where accounts payable automation makes it simpler and faster to find what you need in the cloud. The solution matches your bills with the appropriate contracts, purchase orders, etc. and provides one-click access to them anytime, anywhere.

Bill.com documents the payment due dates, makes revisions on your cash flow prediction graph, and sends email notifications to the correct approvers. With specific user permissions, it displays to each user the paperwork and bills they need to view, and reminds them when they have a bill to review. Plus, you can store check-related contracts to look at details before you pay, thus ensuring that related records are accessible with a click.

Accounts Receivable

With Bill.com, you can receive payments much faster. Its accounts receivable module offers online billing which saves you the trouble of mailing your invoices via snail mail or email. The software reminds your clients before payment is due and sends automatic follow-up notifications when payment is overdue.  

Bill.com’s invoicing features give you insight on your client’s engagement with  your invoice after they look at it online. You can track if they received, paid, and approved it, including scheduled payments. Clients can comment and ask queries on the same screen as the bill, which generates a notification for you and permanently stores the conversation. These functionalities help to save time spent on answering invoice-related questions. Finally, you can offer your customers multiple methods to pay online, including auto-pay, straight from their bank, PayPal, and credit card.

Product Features

Pricing

Bill.com offers a 30-day free trial and 4 plans:

Essentials Plan - $29/user/month

• Import/Export
• Choose from five standard user roles
• Standard approval workflows
• Unlimited document storage
• Payment support & positive pay
• Business Payments Network: connect and collaborate with your customers and vendors

Team Plan - $39/user/month

Includes everything in Essentials Plan, plus:

• Sync with Xero, QuickBooks Online, QuickBooks Premier, and QuickBooks Pro
• Custom user roles

Corporate Plan - $59/user/month

Includes everything in Team Plan, plus:

• Invoice and payment automation
• Discounted "approver-only" users
• Custom approval limits

Enterprise Plan

• Custom pricing and added integration features

Includes everything in Corporate Plan, plus:

• Sync with Salesforce.com, QuickBooks Enterprise, Intacct, and NetSuite
• Multi-entity/location/accounting files
• API access to Bill.com

Transaction Services

• ePayment/ACH processing fee - $0.49/send & receive
• Bill.com mails your checks or invoices - $1.49/check payment or invoice
• Bill.com does your Payables data entry (optional) - $0.49/bill
• Get paid through credit card payment - Merchant Fees: Level 3 processing rates available
• International payment transaction fee - $9.99/payment (promotional rate, standard rate is $19.99/payment)