Intuit® QuickBooks® Online (QBO) is a popular tool for managing small and midsize businesses. Like many accounting systems, QBO records and tracks payments, but does not physically “move money” from one bank account to another. After all, money movement is a highly regulated business activity ― one that falls outside the core capabilities of accounting software.
PNC, one of the country’s largest banks, recently announced it leveraged Bill.com to automate the payables and receivables modules in Cash Flow InsightSM, its online toolkit for small businesses. This is incredibly exciting news for Bill.com, providing the first proof point of the value and potential of our banking platform.
We have made it faster and easier to set up vendors to receive electronic ePayments from Bill.com. A few new features include:
Ability to add a vendor by entering their Bill.com Payment Network ID
Non-reimbursable credit card charges have been the Achilles' heel of the automated expense management workflow. Seamless data integration exists for reimbursable expenses, but manual steps or workarounds were common answers for non-reimbursables. An integrated solution for non-reimbursable credit card charges was one of the biggest requests from our Bill.com clients.
It was pretty clear once you stepped into the Quadrus Center, and saw the panoramic views of the surrounding hills, that Bill.com’s 2014 Annual Company Party was going to be a success! Employees and their guests mingled with each other over the sounds of acoustic guitars played by the Gypsy Tribe. Trays of delicious appetizers were passed, bartenders poured generous drinks, and wild laughter carried throughout the evening.
The time to...
Paper, the traditional "currency" of the accounting world, is coming to the end of its golden age. Invoices, reports, and payments are all migrating to electronic formats that allow you to access the critical information you need anytime, anywhere.
Apps can extend the value of your accounting software by delivering functionality unavailable with your backend system. Examples of apps currently available for the leading accounting systems include:
Efficiency. Productivity. Cost savings. Those are the typical benefits attributed to payment approval workflow (PAW) solutions, and they are compelling. But other reasons justify investment in a solution that routes payment requests automatically to designated reviewers to approve; and that captures the audit trail between receipt of the invoice and the ultimate payment. Consider the following benefits:
Change. For some people, it can be a dirty word. Change means adjustment, radical re-thinking and perspective shifts – all daunting thoughts for an industry such as accounting that is based on risk mitigation and regulations compliance.
Many articles tout the financial savings and ROI of moving from paper checks to electronic payments (ACH). How large is that number for your business? A previous blog postdetailed the costs of using checks. This blog post will discuss the the costs of using ACH and the calculation of ROI.