Bill.com has added QuickBooks synchronization and workflow features to the latest version of its eponymous service.
The online accounts payable service now allows users to synchronize vendors and general ledger accounts with QuickBooks without affecting their existing financial reporting and procedures. The two-way synchronization transfers data to and from QuickBooks as an add-in through the menu bar. Bill.com can post follow-up action items directly in the user's Bill.com to-do list.
"You can synchronize automatically into QuickBooks all your payables and payments," said Bill.com CEO Rene Lacerte. "We do a pullover." Bill.com plans to add a similar feature for receivables payments as well.
A new SmartEntry Account Splits feature enables organizations to not only record a bill to several accounts but also initiate multiple approval workflows and payment audit trails. SmartEntry remembers whether previous bills required splits or not, and sets default accounts and departments or classes based on previous payments to the same vendor. Once splits are determined, users can assign a different approval workflow to different splits or assign multiple splits to the same approver workflow.
New configuration options help organizations get the system up and running, whether they are using Bill.com in conjunction with an external accountant or bookkeeper or using it internally. New workflow options accommodate specialized approval and payment processes, so organizations can include more people in the approval process without requiring any advance training.
The system also allows users to configure e-mail notifications. "We rely on e-mail notifications to tell people what to do," said Lacerte. "Now we let you schedule when you want to receive it. You can say, 'Send me an e-mail with all the things to do on the 10th,' or 'Get my e-mails on Tuesdays and Fridays."
Bill.com has also made it easier to customize organization and user preferences. Organizations can now configure whether bills require approval once they are entered in Bill.com. If approvals are not required, a bill can be scheduled for payment as soon as it is entered.
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