The old way -- A bill arrives in the office and is manually moved from desk to desk to gain the necessary approvals The "white space" on the bill is where notes and other comments are written Once the bill is approved, and the check has been written, the bill itself is filed in a filing cabinet or perhaps scanned to an online drive, where it lives by itself If you have more thaone office, your task is even more difficult as you struggle to collaborate with other locations or stores to manage costs and gain approvals If anyone needs access to that paperwork later, it can be a real pain to find -- and return -- to your filing cabinet.
The Bill.com way -- A bill arrives in the office and is immediately converted to electronic format by scanning or faxing it into Bill.com From there, it routes to all the necessary people in the office -- or at other locations-online, emailing them reminders to approve it You can even involve your accountant or others to ensure all who need to have seen the bill Those approving can view the bill, the contract with the vendor, and the vendor details to inform them as they review for approval Once the bill is approved and the payment is made, the original bill, along with the approvals, payment information, accounting splits, notes, and cleared check image is all available with a click of the mouse and can be made available to anyone who should have access to it, while keeping it from anyone who should not.
The old way -- Once a bill is approved for payment, someone needs to cut the check, address and stamthe envelope, get the check signed, and pop it into the mailbox From there, the only way to know whether it has cleared is to watch the bank account to see "when it happens" Later on, if a vendor wants proof of payment, this requires matching the bill (probably in a file cabinet someplace) with the accounting software and then with the bank account to find a cleared check image.
The Bill.com way -- Once the bill has been scheduled for payment online (which can literally be done from anywhere on any internet capable device), Bill.com takes care of mailing or sending the payment via ACH Bill.com protects your money by offering positive pay protection, as well as limited postal tracking of your check in transit The check is cut against a Bill.com account so if it is intercepted along the way, you can rest easy knowing your bank account information isn't in the wrong hands You can see when a check clears and even look at the cleared check image online We also tell you if it doesn't clear and we help you reissue for free.
The old way -- Using your accounting software, you generate an invoice You may email it but most likely, you're putting it in an envelope and stamping and mailing it out You wait to hear from your customer and anxiously watch your Post Office Box for the payment to arrive When it doesn't arrive on the due date, you call your customer Your customer may tell you they cannot find the bill, they never received it, or the "check is in the mail" Once you do receive the payment, you have to make a trip to the bank with a deposit slip and deposit it into your bank account You also have to record all the payments you received into your accounting software.
The Bill.com way - Using your accounting software or Bill.com, you generate an invoice. Bill.com will either email or mail it out for you Either wa