Bill.com Blog

@Billcom Customer Tip: How can I get paid?

Bank Transfers? PayPal? Credit Card?

Get paid directly from the customer's bank account (Bill.com ePayment), through PayPal, and/or by credit card.

If you choose to get paid directly from the customer's bank account, payment will be deposited into your bank account in 2-3 business days (based on your receivables limits), and you pay a low flat fee.

If you choose to get paid through PayPal, payment is instantly available in your PayPal account, and you pay PayPal Standard fees.

If you choose to get paid by credit card, set up a Merchant Services account through our partnership with Vantage Card Services and PayTrace (low rates and a month-to-month agreement).

Happy New Year from René

It’s a wonderful time of year and I hope you are enjoying the holidays. When one year ends and another begins, I always like to reflect on where we’ve been, where we are, and where we’re going. This year I have been thinking about Ebenezer Scrooge and the ghosts of Christmas Past, Present and Future. 

And believe it or not, I have tied it to what we do at Bill.com! So here goes.

From my perspective, accounting is all about the past. When we record transactions, whether they are payables, receivables or journal entries, we’re writing history—history of where we spent our money and where we made our money. It’s critical in business to balance the books, just as the ghost of Christmas Past shows Scrooge how vital it is to remember where he came from. But, looking at a snapshot of the past fails to provide all the insight that Scrooge needs to become a better person (or the insight we need to become a more successful company). 

Scrooge must, of course, meet the ghost of Christmas Present in order to face the reality of the status quo, to examine where the past has taken him. In the accounting world, the present is when we pay bills, send out invoices, and collaborate with customers, vendors, employees and documents in real-time. It’s the daily grind, but it’s very valuable to step back and take a good look at what’s going on.

In fact, the present is where I learn how our plans are unfolding for the company. Just like Scrooge—but with a much more positive outlook and friendly disposition!—I can see how a past decision has impacted our work today. Seeing a bill for a new vendor or coming across an invoice that remains unpaid gives me lots of ideas for follow-up, how to proceed, and how to improve.

Of course, Scrooge’s transformation is not complete until the ghost of Christmas Future shows him where he is going and that there are different paths he can take, each with dramatically different outcomes. In business, cash flow is our guidepost for predicting the future. In fact, the most common reason for business failure is an inability to manage cash flow. When you consider that Scrooge’s mismanagement of his cash—his overall greediness and misappropriation of resources—was his downfall, it’s easy to see why the ghost of Christmas Future was the specter with the most compelling message!

At Bill.com, we don’t send you ghosts to scare you into changing your ways, but we do give you the tools to transform the way you control your company’s finances. We sync with your accounting software to provide the view of the past, we help you manage the documents, workflow, invoicing, and payments of the present, and we provide you a view of the future with our cashview tools—the calendar and many more to come.

After all, as Ebenezer Scrooge learned, it takes the Past, Present and Future to bring balance and happiness to your financial work life.

So happy holidays and as Tiny Tim said, “God bless us, every one.”

René Lacaerte
CEO and Founder
@rlacerte

Pat Carson Talks Mobile Billing and More

Pat Carson, from Carson & Crew, has been a Bill.com customer for almost 4 years, now and has nothing but good things to say about her experience with Bill.com.

"Before Bill.com, our time was spent gathering paper, processing it, and getting it back to the individual with a check, not knowing if it will be approved or not. After Bill.com, we don't accept paper anywhere. We don't enter any bills into Quickbooks — we upload them to Bill.com."

In the following video, Pat shares how Bill.com helped simplify her business tasks and became a financial solution for her clients.

 

Carson & Crew is a QuickBooks Advanced Certified ProAdvisor and Bookkeeping firm in San Jose, California.

Follow Pat on Twitter: @PatCarson

Employee Spotlight - Make A Wish

Joining Bill.com re-energized me. I love my work and the opportunity to be a part of a young organization, where I can develop partner relationships with a great team. I feel genuinely blessed to wake up every day and do something I love. And I’m also fortunate to say it’s been that way for me for the last 15 years.  But about 11 years ago, although happy with my family and my job, and with a baby on the way…there was still something missing. I needed something selfless – deeper-- that would enrich my life beyond the boundaries with which I was so familiar.

So began my search for a place where I could help make a difference. I wanted to be invested in a new way, in something that would require more than writing a check (still a good thing, but a different category of giving). I wanted to connect with a new cause in a meaningful way and be vulnerable to someone else’s needs, issues, pain points – and ultimately, be a part of a solution to help.

I am forever grateful to have talked this through with my best friend. She had just become a volunteer for an organization called Make-A-Wish (MAW) and encouraged me to check it out. MAW grants the wishes of children with life-threatening medical conditions, in hope to enrich the child’s experience with hope, strength and joy. So while these kids are often fighting for their lives, they are not destined to lose their lives. In fact, many win!

Winning is a battle though. It often requires tough, long, painful, and exhausting combats that do not just require the child’s will, but the family must also become warriors in the battles that ensue. Families often struggle with devastating medical and financial expenses — time off of work to care for their sick child, job loss, even divorce — so many stresses to cope with while remaining strong for their child.

I was moved by what I learned, and joined Make-A-Wish as a “Wish Grantor” volunteer. Wish Grantors learn about the family and child’s situation, and then coordinate a meeting with the family to learn what is the child’s heartfelt wish. Then we find fun, creative and innovative ways to work with the Wish Chapter to make that child’s dream come true in the most amazing and unforgettable way possible. In the eye of the family, a Wish Grantor can be a beacon of light in a raging storm of challenges. The impact of a Wish amid the storm is powerful – it means a respite in battle; an escape, a time when the child and family can set aside stress and illness and lose themselves in something magical…the child’s wish.

What do kids wish for? Although the most common are “Disney” wishes, there is a range of other amazing wishes, for example:

• I wish to be CEO of General Motors.
• I wish to play golf with Chi Chi Rodriguez.
• I wish to go to a NY Yankees game, sit in the dugout and meet the players.
• I wish to have a bass fishing boat, or another was a John Deere tractor.
• I wish to get braces.
• I wish to meet the “Cake Boss.”

What I’ve learned most about is human resilience. I’ve also learned that being a good Wish Grantor means not being judgmental — showing compassion and empathy in the face of the stress the family faces, and to let the child and their Wish shine. As gratifying as I have found this volunteer work to be, I also recognize it fosters enormous leadership skills.

You might be wondering – do you ever fall apart? Well, not in front of the family…but I can tell you that more than once I’ve left a family meeting, got into my car, and bawled. There are moments I have immediately called my husband, my daughter/sons, or mom, to tell them how much I love and cherish them.  Ah, another gift… I am keenly reminded of the importance of living in the moment.

There are many ways to become involved. MAW also needs interpreters, speakers, professional services, office help, event assistants, and more! Volunteering is empowering – it is deeply rewarding to be of service to others. If you think you might be interested, I encourage you to check out your local MAW chapter: 

Make-A-Wish Foundation® of Greater Bay Area
Serves the San Francisco Bay Area + upper NW and coastline
Web site: www.SFWish.org
Phone: (415) 982-9474
E-Mail: info@makewish.org

Finally, on a closing note, there is no better way to share a Wish than to share an actual Wish story! See Brittany’s amazing story — I hope you are inspired. 

Best,

Lisa Kerr

Follow Lisa on Twitter: @lisa_kerr03

@Billcom Customer Tip: I Can't Find a Doc In My Inbox, and I Am Sure I Sent It In. Where Is It?

You can send any type of document into the Bill.com system as long as the file size is less than 20 MB. You will be able to view an image of your bill in Bill.com for the following file formats: pdf, doc, xls, txt, png, jpg, and gif.

In addition, you can also send to Bill.com invoices inline in the email as long as the email format contains a Plain Text version of the email. Bill.com can only process the Plain Text version of the email, so when you forward email (with the inline invoice) to your Bill.com Inbox email, make sure the email format is set to always sent a Plain Text version of the email.

4 Questions for Daniel Watford, Founder of Watford & Associates, LLC

Q1. How did you get into your line of work?
I have always had an entrepreneurial spirit, but I started working for a local CPA firm in Washington, DC, in their outsourced accounting department in 2003. Ninety percent of their clientele were non-profit organizations and we basically took over their accounting departments. As I bounced from client to client, solving problems and building relationships, I began to realize how much I loved being that go-to guy. As their internal partner, we were helping organizations achieve their missions by spending less time on the back office details. It was hard work but very rewarding.

I worked there for three years and then in 2007, I decided branch out and start my own company — Watford & Associates, LLC.
 
Q2. What have you learned through the school of hard knocks?
I have learned that you are never going to be able to please everyone, so you should focus on providing the best service that you can.
 
Q3. What keeps you up at night?
As a small business owner, it's hard to find the time to build the business and get the work done. So I work for my clients all day and work for my company at night. Whether it's paying bills, preparing invoices, or researching potential clients, there is always something to do.
 
Q4. How has Bill.com helped your business chase its dreams?
I always like to experience new solutions for my company before I recommend it to my clients. Bill.com has allowed me to be more efficient, manage cash flow, pay online, and has freed up a lot of the time I used to spend entering and paying bills for my company. In addition, I have introduced Bill.com to my clients through the Accountant's Program, and it has allowed me to focus less on the transactional function of accounts payable, and more on the advisory aspect of my job. I can't say enough good things about the cloud-based solution. Bill.com is easy to use; it integrates seamlessly with QuickBooks Online, and allows me to save time and money that I can use towards my growing business.

Download a complete PDF of these 4 Questions

Follow Daniel on Twitter: @DanielTWatford and Facebook

Note: 4 Questions is a regular feature on the Bill.com blog where we ask the same 4 questions of a different Bill.com customer. Given the tremendous passion and can-do attitude of small and mid-sized businesses, we believe these same 4 Questions will result not in repeat answers, but in interesting insight into many different journeys. Want to be profiled? Tweet @billcom or email us and let us know!

@Billcom Customer Tip: Enter Checks Received via Inbox

Are you still receiving checks from your customers?
If so, send them to your Bill.com Inbox and enter the payment details, all at once. The check image will be stored with the payment entered.

Who’s it for?
For users who have their online invoicing paid via checks.

Here is how:
1. Scan your checks and send them to your Bill.com Inbox

2. Click Create a New > Pmt Received

 

Next:

1. Select the customer

2. Enter the payment information

3. Apply it to the corresponding open invoices

4. Store it in a folder (optional)

1. Under Receivables, click Payments

2. Click payment amount to view the payment details

    • The check image and other docs are listed at the bottom

Bill.com December 2011 Release

It's an online world, but customers still write checks:  Bring 'em into Bill.com

Let's face it:  although the world's going online, a lot of customers still pay you by check. That's reality. We live in the real world too, and we're here to help you do things the way you already do them (just faster and with fewer errors).

So after you scan those checks, bring them into your Bill.com Inbox and enter the details, all at once. Have questions about the check later on? Check out the check image in Bill.com. Until your customers shift to online payment, we'll help you meet them half way.

And all those invoices you have in some other system: Bring 'em into Bill.com too

Why bother? Because you want to get paid faster! When you bring invoices online, you make it easier for customers to pay electronically.  Instead of waiting days or weeks for a check to arrive in the mail, you'll get paid in two banking days.

Just get your invoices into a tab-delimited text file, and we do the rest. We even add the customers in the invoices to your Bill.com list of customers. Keep track of all your invoices and customers' payments in one convenient place:  you'll know how much cash you have on hand, and how much is on the way.

Give your clients what they really want for Christmas: More time

Set yourself apart from other accountants and bookkeepers: move your clients to a more efficient way of paying bills and invoicing their customers (using Bill.com). We give you all the tools to show them how and to set them up, including a spreadsheet to calculate the time and dollar savings.

Your clients will spend less time on bills and more time on business (or celebrating the holidays). You'll serve your clients more efficiently and effectively, develop your practice more quickly, and have a little extra time to celebrate the holidays yourself!

Download our December 2011 Release presentation by clicking here

Diana Murray's Insight on Customer Invoice Software and Online Bill Pay with Bill.com

Diana Murray, the Director of Business Development for ASAP Accounting and Payroll Services recently attended The Sleeter Group's 2011 Accounting Solutions Conference and sat down with us to discuss the positive impact Bill.com's customer invoice software and online bill pay has on her company and her Homeowners Association clients.

“When we decided to implement Bill.com with our clients, we showed them the product and how it automated many of the tasks they did internally and they were thrilled with it,” Murray said.

Today, Bill.com's receivables package synchronizes into ASAP's accounting programs and automatically e-mails invoices for dues to individual homeowners. "Homeowners like the new arrangement," says Murray, "because they have control over their accounts. They can choose to initiate electronic payments each month and decide which day to pay their dues. Some elect to set up recurring payments when the dues are consistent."

Watch today's video to hear more success stories for ASAP Accounting and Bill.com.

 

 

 

ASAP provides services and solutions including payroll processing, time and labor management, accounting, business coaching, and a variety of employer solutions to the Colorado area.

Read our case study for ASAP Accounting and Payroll Services.

Join ASAP on Linkedin and Facebook.

@Billcom Customer Tip: Allow Others in Your Organization to See Customer Payments

Can I allow other people in my company see if customers have paid?

Yes, set up a role to let others in the company View customers and invoices:
    1. In the upper right, mouse over  Then click Settings > Overview.
    2. On the Overview page, under Permissions, click Roles.
    3. On the Roles page, click New,
    4. Scroll to the Receivables section.
    5. Select View for Customers and/or View for Invoices.
    6. Click Save.

Then assign that Role to specific people in the company:
   1. In the upper right, mouse over  Then click Settings > Overview.
   2. On the Overview page, under Permissions, click Users.
   3. Assign the new role to users.
 
So instead of sending out an Accounts Receivable report, just have people log in to see if customers have paid.

 

Bill.com Raises $15.5 Million in Series D Financing Round Led by Financial Partners Fund

PALO ALTO, CALIF. – Dec. 8, 2011 – Bill.com, the leader in integrated bill payment, online invoicing and cash management solutions for businesses, today announced that it has completed a $15.5 million Series D funding round.

The financing round included new investor Financial Partners Fund (FPF), a unit of Citi Capital Advisors, and existing Bill.com investors including DCM, Emergence Capital Partners, August Capital, Jafco Ventures and Total Technology Ventures. Bill.com will use the additional capital to scale operations in support of continued customer growth and for product development and marketing purposes.

Bill.com has now raised more than $40 million as it achieves its vision to provide businesses of all sizes with the innovative cloud-based tools, information, and collaboration needed to eliminate the historic hassles of the bill management and payment process, enabling its customers to better manage their daily operations. The company has transformed the static excel spreadsheet used by businesses to track cashflow into a web-enabled command and control center that allows users to take immediate action – from bill payment to invoicing – backed-up with the insight needed to instantly make the right decision for their business, wherever they are.

“I’ve worked closely with numerous financial services companies, and I believe that what Bill.com has built over the past five years is game changing,” said Steve Piaker, managing director, Financial Partners Fund. “Bill.com is helping businesses of all sizes make the transition from time consuming and erroneous paper-based financial systems to a cloud-based system that delivers up to 50 percent gains in time and cost savings. Compared to consumers, businesses have been far slower to adopt this type of technology based on the shortcomings of available tools. Bill.com is bringing the industry up to speed by delivering SaaS software that works the way businesses work. We’re excited to invest in such a dynamic company and look forward to supporting René and team as they take their already successful business to the next level.”

“The Series D financing round is an exciting development for Bill.com and its customers,” said René Lacerte, founder and CEO, Bill.com. “It validates the success and innovation that Bill.com has achieved to date, and positions the company for its next phase of growth with emphasis on our customers and continued product innovation. We selected FPF to participate in this round based on their principals’ history of working with payments-focused businesses and their vision of what moving services to the cloud can do for the industry. We feel fortunate to have the opportunity to work with such an experienced team of investors.”

Bill.com has continued to grow at a rapid pace, growing over 300 percent in 2011 with tens of thousands of new customers and vendors joining the Bill.com network, and $3 billion+ now under management within the Bill.com platform. Bill.com has won numerous industry awards over the past year, including Accounting Today's Best New AP/AR Product for 2011, a 2011 Innovation Award from CPA Technology Advisor, a 2011 Intuit App Showcase award, a Sleeter “Awesome Add-On” Award and a silver award in the prestigious Best in Biz competition.

“Bill.com is one of the fastest growing start-ups in Silicon Valley; the company is moving more money than Square each month,” said David Hornik, partner, August Capital. “We continue to invest in the company with complete confidence given the experience of the Bill.com leadership team, the quality of their offering and the tremendous market opportunity. Bill.com’s cloud-based bill payment and management services for businesses is unique in the industry and we’re excited to be a part of the organizations’ continued success.”

In 2011, Bill.com introduced new Receivables functionality, doubling the business processes within the Bill.com platform and supporting a full range of accounts receivable capabilities through its invoice creation tool and QuickBooks integration. Bill.com Receivables enables users to send custom invoices, collaborate with customers, and receive electronic payments – all through their Bill.com command and control center. Bill.com supports seamless integration with leading accounting and banking systems such as QuickBooks online, Intacct, NetSuite, and Sage Peachtree software, along with full Google Apps and PayPal Business integration.

These additions enable businesses to automate the tedious processes behind payables and receivables, now taking their existing systems into the cloud with unparalleled efficiency. With Bill.com, business owners can take action and manage their finances from anywhere there’s an internet connection – and on any device – to help them pay and get paid faster.

About Bill.com
Bill.com is an on-demand accounts payable and accounts receivable application for businesses of all sizes and has a tailored product for accountants and bookkeepers. With Receivables, Bill.com users can send custom invoices, collaborate with customers and receive electronic payments that automatically sync to their existing accounting software programs. They can also receive, route and pay invoices electronically resulting in time and cost savings of over 50 percent versus manual accounts payable and check writing processes. Bill.com uses enterprise-class fraud protections and integrates with popular desktop and on-demand accounting packages, ensuring consistency of financial data and streamlined financial planning, reporting and audit activities.

Add the Bill.com to your Twitter Feed: @Billcom or visit Bill.com on our YouTube channel

Bill.com Contact:                                                       

Allison Yochim                                                                         

415-348-2724  

allison@finnpartners.com

@Billcom Customer Tip: Understanding Audit Trails

Bill.com keeps a detailed audit trail of every action taken within our system. This enables you to view, at any point in the future, what happened to a bill, including who approved it, for what amount, on what date and time.

For instance, a payment may be scheduled a month or more in advance; if the vendor's address changes in the interim, the payment, sent to the original address, might not be received on time. The audit trail feature enables you to identify who scheduled the payment (and when), who changed the vendor's address (and when), and reconcile any incomplete or incorrect information.

In most instances, when you display the page that provides details about a specific bill, vendor, or even individual user, you'll see an Audit Trail link you can use to retrace the history of the item.

NOTE: The audit trail does not indicate whether or when a particular bill may have been paid.

If you have any questions about the audit trail, please contact us at support@hq.bill.com.