Bill.com is specifically designed to automate the most tedious operations of any small business: Payables and Receivables. The web-based nature of Bill.com will enable you to work on your financials from anywhere in the world, at any point in time. Furthermore, you are given the option of automating the bill approval process to save time and money. This product will manage all due dates, allowing you to avoid late payments and take advantage of discounts. All invoices and documents are stored on the Bill.com servers, and can be retrieved at any point in time. Finally, you are able to view your spending and cash-flow at any moment in time. From start to finish this product will help you better plan your payables and receivables, allowing more effective and efficient management of your finances.
Invoice & Receive
Bill.com takes a familiar three step approach to generating invoices and receiving payments:
- First you must enter invoice information. Creating line items within an invoice is done by selecting products from your product list
- Second, you must review the generated invoice and approve it for electronic sending. You are able to customize all invoices to your, or your customers, specific needs.
- Finally, when you receive payment you must record that it was paid. Additionally, Bill.com can be set to automatically send out reminder notices for past due payments.
Bill.com takes a three step approach to helping you pay your bills in a more efficient manner:
- First, you must send bills into Bill.com through either uploading, email, or faxing.
- Second, you must assign approvers for each bill and allocate departmental expenses. Multiple employees can be setup to approve bills simultaneously, if needed.
- Third, you can either schedule bills for payment, or take advantage of the alert feature which will remind you when payments are due.
Store & Access
All of your bills, invoices, and receipts are electronically stored on Bill.com. These files are available for review at any time. Additionally, Bill.com can store contracts and any other company documents you desire. By enabling Bill.com to act as a central data repository for all of your company information, you will be able to access them in an efficient manner, and eliminate the countless hours otherwise spent searching for documents. Finally, a real-time calendar will show you your cash position by day (past, present or future); allowing you to more effectively plan, predict, and manage your finances.
Track & Report
Bill.com features a wide array of reporting options, to help keep you informed so you can make critical business decisions. All reports can be generated in HTML, PDF, or CSV format. Reporting is done on both your payables, receivables, and cash flow:
- Payables - You can see all your past bills and what you have paid out over a period defined by you. To give you a better idea of what your future cash position will be you can view all unpaid bills, amount owed to each vendor, or upcoming due bills.
- Receivables - You can view what is owed to you by day, by amount owed, or by the age of receivables. Additionally, you can view which customers owe the most, or are the most past due. Finally, aging reports keep you on top of your collections.
- Cash Flow - Bill.com allows you to view you money movement on a specific date or through a period of time defined by you.
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