Creating and sending professional invoices is a tedious and time-consuming task for most businesses.
Luckily, Bill.com offers an efficient online billing solution that makes the entire process incredibly simple.
In this post, you'll learn how to easily create customized invoices, schedule payments, track billing activity, and leverage integrations to enhance your billing workflow.
Introduction to Efficient Billing with Bill.com
Bill.com provides a streamlined platform to manage billing and payment processes efficiently. By centralizing invoices, bills, and payments, businesses can optimize workflows and reduce manual tasks.
Understanding the Benefits of Bill.com
Key benefits of Bill.com include:
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Automated workflows for creating, sending, and paying bills
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Integration with accounting software like QuickBooks
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Secure online document storage
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Options for fast electronic payments or paper checks
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Tracking invoice status and sending payment reminders
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Customizable invoices and billing workflows
By streamlining billing and payment processes, Bill.com saves time and money while reducing errors.
Ensuring Bill.com Security Measures
Bill.com utilizes robust security measures to protect sensitive billing information including:
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256-bit SSL encryption for data transmission
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Daily database backups stored in secure SSAE-16 certified data centers
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Restricted employee access and activity logging
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Regular third-party security audits
With bank-level security protocols, businesses can feel confident managing financial transactions through Bill.com.
Navigating Bill.com's User Interface
Key features in Bill.com's user interface include:
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Dashboard for real-time visibility into account balance, outstanding invoices, and cash flow
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Invoice creation tools to customize billing templates
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Payment scheduling options to select due dates and payment methods
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Document storage to access invoice history and attachments
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Reports on payments, account activity, invoices, and vendor bills
The intuitive interface allows for easy generation of invoices and streamlined billing management.
By centralizing billing and payments, Bill.com delivers efficiency, security, and simplicity. Their automated platform helps businesses optimize workflows while reducing costs.
How do I create a BILL on Bill com?
To create a bill on Bill.com, follow these steps:
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Select "Vendors" in the navigation menu
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Select the vendor's name that you want to create the bill for
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On the "Bills" tab for that vendor, select "Create bill"
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Enter the bill details including:
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Bill date
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Due date
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Amount owed
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Any additional notes or attachments
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When finished entering details, you have a few options to finish:
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Select "Save and close" if you have no other bills to enter
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Select "Save and new" to save and start another bill
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Select "Preview and send" to review before sending to approvers
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Some tips when creating bills:
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Make sure to select the correct vendor so the payment gets applied properly
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Enter a clear due date so you know when payment is expected
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Attach any supporting documents that back up the amount owed
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Carefully review the bill before submitting to make sure all information is accurate
Let me know if you have any other questions!
How do you send bills to clients?
Sending bills to clients can be streamlined using Bill.com's intuitive interface. Here is a step-by-step guide:
Select or Create a Customer
The first step is to select an existing customer from your contacts or create a new customer profile. Make sure to include complete and accurate billing details like name, address, email, etc.
Create the Invoice
Next, create a new invoice by clicking the "Create Invoice" button. Make sure to include:
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Invoice number
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Date
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Your business name, address, contact details
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Client name, address, contact details
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Line items with brief description of services, quantities, rates, tax, etc.
Preview and Send
Before sending, preview the invoice to double check all information is correct. Then click "Send" to email the invoice directly to your client.
Payment and Status Tracking
Once sent, you can track the status of the invoice and whether it has been viewed, approved or paid. Bill.com also allows setting up recurring invoices and automatic payment reminders.
By following these simple steps, Bill.com takes care of the heavy lifting in getting invoices to clients and tracking payments. The streamlined process saves accounting time while improving organization and professionalism.
How does Bill com send payments?
Bill.com offers several payment options to send money to your vendors efficiently.
When you create and send a bill in Bill.com, you can select the payment method for that transaction. The main options are:
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ACH ePayment: This sends the money directly from your bank account to the vendor's bank account. It's a fast, secure, and low-cost digital payment.
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Check: Bill.com can print and mail a physical check on your behalf. This is useful if your vendor doesn't accept digital payments.
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Pay By Card: This charges your credit or debit card to pay the vendor. Bill.com supports American Express, Mastercard, Visa, Discover, and debit cards. This is convenient but may include additional card processing fees.
So in summary, your vendor will receive their payment either as a direct bank transfer via ACH, as a mailed check, or charged to your card, depending on which option you select when sending the bill.
The key benefit is that Bill.com handles the entire payment process for you - calculating amounts, processing the transactions, and confirming when it's complete. This saves you time while ensuring your vendors get paid accurately and on time.
How do I create a BILL for my services?
Creating an aesthetically pleasing and professional bill for your services can seem daunting, but following a few simple best practices can make the process smooth and efficient.
Gather the Necessary Information
First, collect all the information you'll need to include on the bill:
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Your logo and business contact details like address, phone number, email, and website
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Client's full name and contact information
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A clear invoice number and due date
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An itemized list of all services provided with rates and totals
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Subtotals for services, taxes, discounts, and a final total amount due
Use an Invoice Template
Next, use a premade invoice template to format your bill professionally. Many accounting software programs like QuickBooks offer customizable invoice templates that do the design work for you. The template ensures you include all required fields and legal disclaimers.
Include Payment Terms
Clearly state your payment terms and preferred payment methods directly on the invoice so there is no confusion. Typical terms are "Due on Receipt" or "Net 30 Days". Specify if you accept checks, credit cards, ACH payments, etc.
Preview Before Sending
Before emailing or printing the finished bill, preview it carefully to catch any errors. Check for typos, incorrect totals, unclear service descriptions, and missing client or business information.
With an invoice template and a bit of double-checking, creating professional-looking bills is simple. Your clients will appreciate the clear, organized invoices.
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Creating and Sending Bills
Discover how to create a bill, select a customer, and send invoices efficiently using Bill.com.
How to Create a Bill in Bill.com
Creating bills in Bill.com is straightforward. Simply navigate to the Bills tab and click "New Bill". You can then enter the billing details manually or import details from integrated apps like QuickBooks.
To create the bill manually, fill out fields like vendor name, bill amount, due date, etc. You can also upload a PDF copy of the bill. For recurring bills, enable the recurring billing feature to schedule automatic future bill creation.
Utilizing customizable invoice templates ensures consistency in your billing documents. Set up branded templates with your logo, colors, and standard formatting. New bills inherit these templates automatically.
Selecting a Customer for Billing
When creating a new bill, you need to specify the correct customer account. Choose the customer from the dropdown if they already exist in your Bill.com contacts.
For new customers, add their billing details like name, email, physical address, etc. on the fly. You can save new contacts to your address book for future billing.
Review customer details carefully before sending an invoice to avoid errors. Bill.com lets you add multiple contacts/roles per customer, ensuring bills reach the right people.
Preview and Send: Ensuring Invoice Accuracy
Before sending any bill or invoice, always preview the document to confirm accuracy. Carefully check details like vendor name, customer name, dates, line items, totals, etc.
Once satisfied, click Send to email the invoice directly to the customer. Customers receive a professional, easy-to-pay invoice. You can also print and physically mail invoices if preferred.
The invoice status updates automatically when sent via Bill.com. You can see when a customer opens the email and views the document.
Customizing Invoice Templates for Brand Consistency
Bill.com offers customizable invoice templates to match your brand identity. Navigate to Settings > Invoice Customization to access templates.
You can add your business logo, use brand colors/fonts, include taglines, format tables, and customize every section. Apply these as default templates for new bills.
Well-branded templates lend professionalism and consistency to customer documents. They seamlessly integrate with your other communications for a unified brand experience.
With Bill.com's templates, every new bill and invoice you create inherits your professional branding by default.
Scheduling and Managing Payments
As a business owner trying to efficiently manage cash flow, scheduling and tracking payments can be a major pain point. Bill.com provides useful tools to simplify these tasks so you can get paid faster.
Schedule a Payment for Bills with Ease
Bill.com allows you to easily set up automatic reminders and scheduled payments for outstanding invoices. You can customize the payment date, amount, and method for each bill.
Key features include:
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Auto Reminders - Get email notifications when a bill is due to ensure on-time payment
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Recurring Payments - Set up repeating payments for subscriptions or recurring invoices
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Partial & Full Payments - Flexibility to pay full balance or make partial installment payments
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Payment Calendar - See all upcoming payments in one place to manage cash flow
Scheduling recurring payments upfront saves administrative time so you can focus on your business.
Electronic Bill Payment: ACH and Credit Card Processing
Bill.com offers integrated tools to collect payments electronically through:
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ACH bank transfers - Securely collect payments by linking bank accounts for fast transfers
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Online credit card processing - Seamlessly charge customer cards to receive immediate payment
Electronic payments mean faster payment collection, reduced time spent on accounts receivable follow-ups, and predictable cash flow.
Managing Paper Check Payments in a Digital Age
While electronic payments provide efficiency, some customers may still need to pay by paper check. Bill.com enables you to handle these seamlessly:
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Customers can mail checks with a payment stub directly to Bill.com
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Bill.com scans checks upon receipt and uploads to your account
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Funds deposited directly to your bank account within 2 business days
This eliminates trips to the bank and manual data entry. You gain visibility into check payments and can track funds.
Enabling Auto Pay for Recurring Billing
For subscription-based or ongoing service relationships, setting up auto-pay can maximize efficiency.
With Bill.com you can:
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Set up scheduled payments to charge customers automatically
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Send payment reminders before due dates
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Offer flexible installment plans
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Reduce invoicing and collections workload
Auto-pay streamlines processes so you get paid on-time without the administrative hassle.
With robust tools for scheduling payments, enabling auto-pay, and supporting electronic and paper check transactions, Bill.com provides end-to-end capabilities for getting paid quickly and efficiently. This helps manage cash flow, reduce administrative burden, and improve back-office productivity.
Tracking and Reporting Invoice Activity
Monitoring the status of invoices and keeping customers updated is key for efficient billing operations. Bill.com provides tools to track invoice activity in real-time, automate reminders and receipts, and generate insightful reports.
Monitoring Real-Time Invoice Status
You can view the status of every invoice - draft, sent, viewed, paid, etc. - on the Invoices page. This allows you to keep tabs on each invoice and ensure customers receive and pay them promptly. Key features include:
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Instant status updates when an invoice is sent, viewed, or paid
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Sort and filter invoices by status category
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Customizable views to focus on outstanding invoices
Staying on top of each invoice status enables you to follow up on late payments and maintain healthy cash flow.
Automating Invoice Email Receipts and Reminders
Bill.com helps prevent late payments by automatically sending invoice receipt confirmations and payment reminder emails.
Customizable email templates allow you to:
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Confirm when a customer views or pays an invoice
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Set automated payment reminders on unpaid invoices
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Customize subject lines and email content
Automatic receipts and reminders ensure you maintain contact with customers without manual effort.
Generating Custom Reports for Financial Insights
Leverage Bill.com's customizable reports to reveal key billing and payment insights like:
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Invoice volume and sales data over custom date ranges
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Average time to receive payments
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Customers with overdue invoices
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Year-over-year cash flow comparisons
Analyzing trends through detailed reports allows you to make strategic decisions to accelerate payments, improve customer billing experiences, and streamline financial operations.
Utilizing AR and AP Information for Strategic Decisions
With real-time visibility into accounts receivable and accounts payable, you can make data-driven business decisions such as:
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Forecasting cash flow needs
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Optimizing invoice payment terms
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Identifying high-value customers to prioritize
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Developing retention strategies for key accounts
Bill.com provides the invoice details and financial intelligence to strategically guide business growth.
With robust tracking, reporting, and analytics tools, Bill.com gives complete visibility into billing and payment activity to help optimize invoicing operations.
Enhancing Bill.com with Integrations
Maximize the functionality of Bill.com by integrating with accounting systems, document management tools, and payment platforms.
QuickBooks Integration for Seamless Accounting
Connecting Bill.com with QuickBooks allows for automatic syncing of invoice, payment, and other financial data between the two platforms. This eliminates the need for manual data entry and ensures accuracy by keeping both systems up-to-date.
Key benefits include:
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Automatic syncing of customer details, invoices, payments etc.
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Reduced data entry and fewer errors from manual work
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Real-time visibility into financial data across both platforms
To set up QuickBooks integration, simply connect your Bill.com and QuickBooks accounts in the integrations section of Bill.com. Customize sync settings based on your needs.
Streamlining Document Management with Box and Receipt Bank
Incorporate Box or Receipt Bank integrations to simplify document management processes:
Box
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Centralize storage of all documents and files in one secure cloud location
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Access customer files, invoices, receipts etc. from Bill.com and Box seamlessly
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Automate flows for scanning, uploading and attaching documents
Receipt Bank
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Extract key details from scanned or photographed documents and receipts
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Auto-code expenses for streamlined accounting
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Attach categorized documents to relevant bills and payments
Leveraging these specialized tools via Bill.com integrations optimizes workflows around document management - saving time while increasing organization and reporting capabilities.
Automating Data Sync with Accounting Systems
Two-way sync with accounting platforms like QuickBooks, Sage Intacct and NetSuite ensures accurate, up-to-date financial records across systems by:
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Pushing Bill.com invoice and payment details into accounting system
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Pulling customer, item, chart of accounts etc. data from accounting system into Bill.com
This eliminates discrepancies between platforms and the need for duplicate data entry. Tailored sync settings can be configured in Bill.com integrations based on your workflows.
Leveraging API for Custom Integration Solutions
Bill.com also offers a robust API to build custom integrations with other apps and systems including:
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CRMs like Salesforce and Microsoft Dynamics
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Procurement tools such as Coupa
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Payment gateways such as Stripe
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HRIS platforms and more
The self-service API enables creating specialized integration flows to extend Bill.com capabilities. This allows tailoring Bill.com to your organization's unique needs.
Conclusion: Elevating Your Billing Process
Bill.com can help businesses like yours transform billing operations to be more efficient and cost-effective. By centralizing billing creation, payment processing, and document management on one intuitive platform, Bill.com eliminates manual tasks while providing visibility and control.
Key benefits of using Bill.com include:
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Streamlined billing creation: Easily create professional invoices from templates and automatically send them to customers on a custom schedule.
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Seamless payments: Customers can pay bills directly through Bill.com via check, ACH or credit card. Payments are deposited into your bank account.
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Accounting integrations: Sync billing and payment data with QuickBooks, NetSuite, Sage Intacct and other leading accounting platforms.
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Robust reporting: Gain insights into cash flow, outstanding invoices, customer payments and more through custom reports.
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Document management: Store invoices, bills, and other financial docs in one secure, searchable system.
With Bill.com, you reduce time spent on billing and payments by up to 80%. This frees up your accounting team to focus on more strategic initiatives that drive business growth. The platform offers enterprise-grade security and reliability as well.
By centralizing and automating billing operations on Bill.com, your business can elevate efficiency, cash flow management and accounting productivity.
