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Streamline Your Accounts Payable & Receivable Process

A pandemic is going to disrupt your business or organizations natural flow: If you are a business owner or a president of a nonprofit or even someone who works for either one, then you are having your daily routine disrupted in a way that you probably didn't expect.

Lighten Your Accounts Payable & Receivable Load

Use a cloud platform that can assist you in making payments, and more importantly, receiving payments more timely.


With employees working remotely at home and bills still coming in, getting approvals can be arduous. Sending invoices and waiting on payments from clients and customers is being stretched longer.


Using Bill.com can streamline your accounts receivable and accounts payable process, even while working remotely.


ACCOUNTS RECEIVABLE

With Bill.com, the accounts receivable process is very simple. You create your invoice in Bill.com and it will email it to your client. At the same time, you can send an invite for your client to input their payment information into Bill.com so that it can be set up pay directly using ACH. Your accounts receivable turnover will show increased efficiency. The Bill.com platform will also transfer the accounts receivable and revenue directly into your accounting system, so that you won't have to worry about double entry.


ACCOUNTS PAYABLE

The accounts payable process will allow you pay bills on time and keep your remote working efficient.

Invoices can be scanned into Bill.com or directly emailed into a unique email address that you have within Bill.com. You can also use the app on your phone and take a picture of an invoice. Most likely Bill.com will sync with your accounting system, that way you can pull your general ledger expense accounts and choose which expense account to apply the invoice. You would also add your invoice information like invoice date, invoice number, invoice amount, and any notes for your reference. This invoice can then be routed for approval. So as a business holder or manager, you can have your office manager or accounts payable clerk route the invoices to you for approval (and there can be multiple approvers if needed). Once approved, Bill.com will send the check out themselves or an ACH payment if both parties are set-up to do so within the platform.


To assist you in your cash flow, Bill.com can be customized on when it will actually send the check. You can set your company settings to mail the check an "x" amount days before the actually due date. As an example, if an invoice is due in 30 days, you can approve the invoice immediately. If your settings are set for 5 business days, then Bill.com will mail the invoice 5 businesses before it is due, helping you keep your cash as long as possible.


If you would like to learn more, please click on the "Click to Schedule Free Consultation" on my website and we can set up a time for a quick consultation.



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