QBOchat Interviews Bill.com

I recently caught up with Kaylen Warren with Bill.com in Atlanta, GA and interviewed her about Bill.com and the new changes that accountants should be aware of.

Learn more about Bill.com.

Bill.com Interview Video Transcript

Welcome to QBOchat interviews. Join us as we interview some of the best apps, that integrate with QuickBooks Online and learn how these Apps are making life better for accountants and bookkeepers.

Hey, this is Cathy Iconis with QBOchat and I am here with Kaylen with Bill.com. So excited to have you.

Awesome, thanks Cathy.

So, wanted to learn a little bit more about Bill.com and what kind of problem were you guys solving?

Sure, so we help automate the entire end-to-end workflow for accounts payable and accounts receivables for the clients of our accounting firms. So, we really help automate everything while also introducing internal controls and ultimately saving the firm some money and increasing their revenue.

That’s awesome. How do you help them save money and increase revenue? How does that happen?

So, we actually assist with cutting down the bill pay process up to 50 percent. So we can automate the entire approval workflow so you can approve from anywhere if you have clients that are on the go. No more chasing paper to get those approvals. We also send out the payments, so you don’t have to spend your time cutting or signing checks. You don’t have to then have your client come up to pick up the checks and sign them and mail them out. So we can really help automate all of that and take the worry off so you can work on servicing other clients at the same time.

What Types Of Users Are The Best Fit For Bill.com?

We work with all types of accounting firms whether they be smaller firms or top 10 firms as well. And, we can work with any type of business as well so if you have clients that are doing manufacturing, if you have clients that are just a restaurant, that’s perfect, we can service any of those whether their big or small or in between.

What Does The Bill.com Subscription Get Accountants?

So you get what’s called a Client Management Console and with that console, you get unlimited access to your staff members and you can let us know which staff should work on which accounts. You also get access to wholesale pricing and a whole slew of accountant resources to help your client be more comfortable with using Bill.com and get them on board.

What Are The Features That Accountants Love About Bill.com?

The biggest one I would say from an accounting firm perspective is the efficiency, the security, and the client satisfaction. So with the efficiency, we really help automate, as we said, that entire end-to-end workflow and cut that bill pay time in half. We can also on the security side implement all sorts of internal controls, so you can create approval policies to make sure the right people are approving the right bills and everything is fully auditable so everything on the back end, we can see who did what and when so if you ever have a question, there’s no doubt as to who did what.

What’s New About Bill.com?

So, we’re super excited to finally start the rollout of our brand new interface. We’ve been working on it with some of our direct clients and we’re super excited to finally introduce it to our accountant customers as well. It’s going to have a brand new look and feel as well as some exciting new features that are rolled in and we’re super excited to show y’all that today.

Here’s The New Bill.com!

We’ve got pretty much all of your main tips and tricks here on the homepage. You can actually create bills from here. Once you’ve got bills pending approval, you can approve from here. You can also pay from here. So all of those core steps we’ve really put here on this main overview page, instead of you having to navigate through the different tabs.

We also have some quick actions here. Things like entering a bill, paying a vendor, adding a vendor, customer functionality as well. So all of those core functions have been moved right here to the home page to make life a little bit easier. And to cut down on the number of clicks it takes to actually get stuff done.

Most of our users are still probably going to use that main workflow which is going to be, upload your bills to your Bill.com inbox. Create a bill using your vendor and chart of account information from your accounting software. Route that bill for approval and then ultimately, pay it once you’re ready. So, what I’ll do now is show you what that new workflow looks like.

So, you’ve got your inbox here. You can see that I have one item here waiting for me to take care of. Once I click into my inbox, I get a nice overview here of that document. I can still upload from here as well. I can edit my Bill.com email address if wanted. I can also easily delete documents from here or mark a document as spam. Your other options for processing documents, still live in these three dots. So, you wanted to associate a document with an existing bill or file that into a folder, you have that option from here. In this case though I’m just going to go ahead and enter the bill.

So, you’ll notice that this page is a lot more friendly. You no longer have to drag this bill details box around in order to be able to see the whole document. It really stays static here on the right-hand side. You can still choose to rotate or download the document if needed. You can also choose which pages you’d like to attach. All pages are attached by default but you can do a custom selection here as well, as needed. Then, from this, we can start entering my bill information. We’ve synced this with QuickBooks Online before so all of my vendor information is already here. So pick a particular vendor I just start typing their name and then choose them. Or if it was a new vendor, I can click on add new vendor here, and then, once the next sync is run we’ll create that for you on the QuickBooks side as well. And then, from there, I just keep typing.

So, I’m going to enter my invoice number, my term, my dates, and the system remembers a lot of this information as I go, so next time I have another bill for Flower Shops, it’s going to remember things like the payment terms, the expense I selected, and prepopulate those details for me. Then choose office supplies here. I could enter a description if I wanted one so this could be my June flowers. I could select a class if I need one. And then if I wanted to split this into multiple line items, I would just check this little toggle here, and it allows me to enter multiple items here, as well, as many as I need. Or, I can just have the one single line item.

At the bottom right is where I can choose my approvers. Now, I’ve gone ahead and set up a default approver for this account. So, John Smith was automatically added. But, I could add additional approvers if I wanted to by clicking on my down arrow and then choosing their name and then I just collapse that. Or, I can remove an approver if I don’t need them as well.

In this case, I’m going to go ahead and be the approver, and then I’m going to save. So, at this point, my approver would be notified of that pending approval bill there. And when I go back to my overview page, I’ll actually see now, in my bills to approve section, that’s there one bill here waiting for me. So, when I click on this tab, I can quickly approve from here.

So, I can either click approve to approve this bill right without taking a look at it, I can check off the box, and then approve in bulk if I had more than one bill waiting for me to approve. Or, I can click into the bill itself and then I’ll be able to see all of the bill information, like the document, the bill details we just entered, and then I can choose to go ahead and approve from here.

And, then once I approve that bill will move into the bills to pay section here. Again, I see I have one bill waiting for me to pay and then from here, again I can choose to pay the bill, by clicking button to the right of it. I can check off the box, and pay multiple bills at once. Or, I can actually click into the bill itself, and again, this is a great new feature. You can actually pay from directly from the bill’s page that you have that supporting documentation and all of that bill information available to you when you’re scheduling that payment.

I’m going to go ahead and click on Pay Now. It’s going to ask me to confirm the bank account, select a process date, which is again, this is the date that Bill.com takes the funds from my bank account. The soonest process date is that next banking day, which is why it’s defaulting until tomorrow.

I can schedule these out in advance if I want to. Maybe I don’t want to do this until the 3rd of July. I can adjust my memo here if I want the vendor to see something particular in that line item. And I can see how that payment is going to go out. So this is an epayment and that’s expected to arrive by about the 9th of July. This account takes a little bit longer for payment timing given that I just created it and I need to establish some payment history with Bill.com. Once I click pay, that’s it! I can see my payment confirmation here I can choose to enter an email address if I wanted them to be notified of that payment. I click done.

And, then back here on my overview page, I can take a look at my Payments Out tab. If I wanted to monitor that payment I just scheduled, I can see its status here. I can click on the confirmation number and then from here, I can also choose to cancel this payment if I want to. Or I can monitor this process of this payment as it goes along. This tells me when that payment is going to process. When it gets sent to my vendor initially and then once they receive it as well.

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Cathy Iconis

Cathy Iconis, CPA is the creator and facilitator of the weekly tweetchat #QBOchat and the website QBOchat.com - a community for QuickBooks Online Users. She is also the founder of Iconis Group, an Intuit Top 20 Firm of the Future, that supports small businesses all over the United States with their bookkeeping needs. She is a five-time recipient of the prestigious CPA Practice Advisor 40 Under 40 Award, given annually to just 40 people nationwide.

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