Can I use Bill com for free?
Free Vendor Console
The pricing for Bill.com starts at $45.00 per user per month. Bill.com has 4 different plans: Essentials at $45.00 per user per month. Bill.com Accountant Partner Program at $49.00 per month.
With BILL, you can sign up for a subscription-free Basic Receivables account if you only want to receive payments through the BILL network, and pay no transaction fees. You must have a subscription-free Basic Receivables account before you can connect to customers/payers, and start transacting.
Bill.com is a tool that automates accounts payable and accounts receivable processes. Bill.com seamlessly integrates with Xero accounting software to make bill payments and approvals faster and easier. Bill.com acts as a central hub for all bills and invoices for businesses of all sizes.
BILL is a financial operations platform that gives you control over finances so you can confidently run your business. BILL's integrated platform includes BILL Accounts Payable, BILL Accounts Receivable, and BILL Spend & Expense to help you automate AP, AR, spend, and expense management—all in one place.
Rather than having to log into multiple Customer Portals (one for each company) to pay invoices, you can manage business contacts, connect with companies using BILL, pay bills, and more, all in one place. You can also pay your bills using the BILL mobile app!
So in summary, Bill.com does not take a direct percentage of payments. Their revenue comes from the monthly subscription fees per user as well as per transaction fees. When paying via card, you can expect to pay the 2.9% card processing fee on top of the transaction amount.
Unlike other payment platforms that charge a percentage-based transaction fee, BILL customers pay flat fees for their standard ACH transactions. This flat fee structure can help businesses avoid the significant expenses associated with larger payments.
BILL is also required to file Form 1099-K with the IRS so there is no need for you to submit your Form 1099-K with your tax return.
Using Bill.com and QuickBooks Online together offers several advantages. Bill.com's specialized features for managing accounts payable and receivable complement QuickBooks Online's comprehensive accounting features. This combination allows for a more efficient and effective financial management process.
Should I use Bill com?
Bill.com has proven to be an invaluable tool for organizations looking to streamline their financial operations. Customers have praised the software for its ability to serve as a central repository for all documents and information related to vendors, providing easy access to cash flow and remittance details.
BILL also provides bill payment services on behalf of our partners to service their customers (“Partners”). Our Partners include some of the leading banks in the United States, including Commerce Bank, First National Bank of Omaha, JP Morgan Chase, KeyBank, PNC, and Wells Fargo.
Feb 28, 2024
If you're verified on a bank account , or you have added a payment card, you can pay bills from the Bills page. Tips: If you have a subscription-free Basic Payables account, you'll need to upgrade to an advanced account to pay bills with a card.
You receive invoices from vendors or contractors via email, or scan and upload them to your digital inbox. From there, you simply create a new bill, enter a few quick details, and pay it via your preferred payment method like ACH, Card, Virtual Card, Wire, or Check.
- Concur Invoice.
- InvoiceWorks.
- Serina.
- Procurify.
- Stampli.
- Select Manage Balance on the Overview page.
- Select Withdraw Money.
- Enter the amount you'd like to withdraw, up to the Current balance shown.
- Select the account you'd like to withdraw to in the dropdown. ...
- Select Withdraw USD (amount).
- Checks that aren't cashed within 90 days will auto-void, and there are no fees on auto-voided checks.
- If you choose to void the lost check before the 90 day auto-void, there'll be a $ 25.00 service fee to issue a stop payment.
Bill com is generally a reliable and safe payment solution. It implements a Two-Factor Authentication system for maximum security. It logs out customers automatically after a certain period of inactivity, and actively educates customers on the risks of email compromise schemes.
Yes! If you have an eligible bank account, you can turn on Instant Transfer as the default setting for your future payments. Toggle Enable Instant Transfer to on, for the bank account where you'd like us to automatically deposit all eligible Instant Transfer payments.
Any series of recurring payments can be scheduled in advance for ACH processing, but BILL makes one-time approvals easy too. BILL also supports wire transfers when you need speedy delivery of large payments or to transfer money abroad.
What is the $600 rule?
The new "$600 rule"
Under the new rules set forth by the IRS, if you got paid more than $600 for the transaction of goods and services through third-party payment platforms, you will receive a 1099-K for reporting the income.
The IRS has broad legal authority to examine your bank accounts and financial records if needed for tax purposes. Some of the main laws that grant this power include: Internal Revenue Code Section 7602 – Gives the IRS right to examine any books, records or data related to determining tax liability.
The new law will eventually require users to receive Form 1099-K for any payments of goods and services over $600, regardless of the number of transactions. That means more people will receive the forms.
Creating a new invoice is fast and easy with BILL. Send customers electronic invoices and get access to recurring invoices, automatic payment reminders, automatic overdue notices, electronic payments through ACH, and more. Jump to: Create invoice and send to customer.
BILL integrates directly with QuickBooks, so all of your activity - like creating a new bill or sending out a payment - automatically syncs. You spend less time on double data entry and hunting for typos, and your books are accurate and up to date.
