Online invoicing provider Bill.com has released the Winter 2009 upgrade to its accounts payable service, including new cash flow features.
Other new features include tighter integration with Intuit QuickBooks and Intacct, and a more intuitive user interface. The cash flow management feature changes Bill.com’s calendar view to optimize the timing of payments based on due dates and projected cash balances. Account book balances are now automatically updated from Intacct and the desktop version of QuickBooks.
Bill.com users can now enter recurring bills and set preferences on accounts, amounts, approval workflows and frequency. Financial professionals can review payments before they are made, and attach digital images of bills to the recurring payments.
“We provide a much better view of what payments have already gone out so you can judge where to put future payments,” said vice president of marketing Jeff Schultz.
Bill.com will also now consolidate payments to the same vendor on the same day onto one check, helping customers go green by minimizing their paper printing and mailing costs while also counting all the consolidated payments as one transaction within Bill.com. “If you are paying the same vendor on the same day, only one check goes out the door, and we only charge you for one transaction,” said Schultz. The newly designed check voucher will include a summary table showing the invoice numbers and payment amounts to avoid confusion at the vendor when applying payments.
If there are supporting documents to file with a bill, such as a bill image, users can send those documents to their inbox and attach them to a recurring bill. The new release also includes an enhanced document inbox that shows thumbnail images of documents with links to the appropriate steps to follow. Users can find, prioritize and process a particular document in their inbox, including document images generated by scanners.
The latest version of Bill.com also includes a synchronization assistant that helps resolve syncing conflicts. In addition, the company is offering customers the ability to order a DVD containing all of their Bill.com documents, or all their documents within a specified date range, for $35. For more information, visit www.bill.com.
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