If you’re looking for a more traditional double-entry accounting service, we recommend Editors‘ Choice winners QuickBooks Online for small businesses and FreshBooks for freelancers and solo entrepreneurs. The next two sections are divided into Payables bill.com fees and Receivables. If a menu entry can link to multiple related pages, hovering over it opens a submenu. For example, if you hover over Invoices, a submenu drops down containing links to Open Invoices, Recurring Invoices, and Credit Memos.
You can create customer records to track your interaction history and use them in invoices. Sub-customers and credit memos are also supported, and Bill.com provides an audit trail for receivables similar to the one in payables. The Essentials plan includes either accounts receivable or accounts payable management, approvals and sign-offs, import and export of select data, and email/chat support. The Team plan adds custom user roles, as well as the option to integrate with QuickBooks, QuickBooks Online, and Xero. The Corporate plan lets you manage both accounts receivable and accounts payable. The Enterprise level integrates with midrange accounting solutions, such as Oracle NetSuite and Sage Intacct.
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Packed with innovative tools and advanced functionalities, this software offers a range of benefits. When you log in for the first time, Bill.com requires that you complete a multi-factor authentication process by entering a code sent to you via phone or text. You must also verify your email before you can start the setup process. The audit trail shows who edited the transaction, when it was edited, what field was affected, and what changes occurred.
After clicking Approve, BILL will generate a timestamp and generate a virtual signature after approval. Once done, the bill cannot be edited or deleted to preserve the integrity of accounting records. Once you receive a bill, BILL’s Intelligent Virtual Assistant (IVA) will capture key billing information like vendor name, vendor’s invoice number, due date, and amount due.
