Take the Pain Out of Bill Payments with Bill.com

April 15, 2018 | Scott Soucy

Does automating your company’s bill payments sound like a dream? Wish you could spend less time entering payment data from customers and managing payments for vendors and contractors?

There is a better way. Kaufman Rossin Connect offers paper-free bill payment processing powered by Bill.com.

Bill.com is a cloud-based bill pay app that integrates with your accounting system, simplifying billing, invoicing and bookkeeping. It enables you to organize your account payables and receivables, gain greater control over cash flow, and pay and approve bills on the go. You can quickly and easily enter invoices from your smartphone and other devices, choose your payment method, automate payment reminders for your customers, and automatically sync and reconcile payment data with your online accounting system.

Here’s how it works.

  • Sending Payments: You will have a dedicated email address for vendors to send you electronic invoices or you can drag-and-drop them into your dashboard. You can designate separate staff to import, approve, and pay bills (recommended for maintaining proper internal controls). Your payments will be sent via ACH, if accepted by your vendor, or via paper checks. If a paper check is required, funds are first transferred to Bill.com. Then, a check is cut from Bill.com’s account, which helps to mitigate your company’s exposure to check fraud.
  • Receiving Payments: You can send automated invoices directly from Bill.com, track payment status and schedule personalized reminders to go to customers who have not paid. You can receive payments in your bank account via ACH, credit card or PayPal.
  • Syncing Data: Payment information exports to your online accounting system, eliminating the need for duplicate data entry.
  • Managing Cash Flow: A built-in cash flow calendar allows you to easily schedule, postpone, and project expenses.
  • Security: Bill.com complies with financial regulations, and your payment data will be archived on their secure, web-based portal.

If you wish you had a better way to manage bill payments, customer invoices and cash flow, from any device, look no further. Bill.com can help take the pain out of the payment process. Contact me or another member of the Kaufman Rossin Connect team to learn more about how automated bill payment processing can help your business.

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Scott Soucy, CPA, CGMA, is an outsourced services principal in the Naples office of Kaufman Rossin, one of the top 100 CPA and advisory firms in the U.S. Scott leads the firm’s real-time accounting practice, which is powered by Kaufman Rossin Connect. You can reach Scott at ssoucy@kaufmanrossin.com.