Maintain Greater Control over Your Cash Flow
Check Expiration after 90 Days
All checks issued after May 16, 2014 will be printed with the words “Void after 90 days”. On the 91st day after the date of issue, the check will expire. Bill.com will void the payment, return the funds to the payor’s bank account, and will mark the associated bill as Unpaid. With this new policy, businesses gain more control over their cash flow and increase productivity, no longer needing to monitor and follow up on long-uncashed checks.
Work More Efficiently, with More Available Information
Changing or Removing Approvers on Active Bills and Vendor Credits
You’ve asked for this feature, and we made it happen! Bill.com has streamlined the process of deleting or changing the role of a user who is an approver in an approval policy, and/or on bills, recurring bills, and vendor credits. You will no longer have to alter those bills or credits, and the associated approval policies and default approver lists before completing the change - now you can delete users or change their permissions as necessary. After you have completed the change, you will be prompted to review the bills, recurring bills, vendors, approval policies, and default approvers impacted by the change. You will also be notified in your To Do List, and To Do email.
Enhanced eBilling and eInvoicing
Bill.com has enhanced eInvoicing and eBilling capabilities so that it now handles a larger variety of business scenarios.
Since the original launch of this feature, you have been able to connect with those of your vendors and/or customers who are Bill.com subscribers, and send or receive invoices and payments directly into each other's Bill.com accounts. Using Bill.com Receivables, vendors can send eInvoices directly to customers’ Payables service (as eBills), and once approved and paid, the ePayment is sent back to the Receivables account, closing the original eInvoice. No data entry necessary; all the information entered into one account is sent to the other. We have now enhanced this service to cover a variety of additional business scenarios:
- Double Payments: if the original invoice was already paid, you can can review the new ePayment, and apply it to a different invoice.
- Vendor Credits Applied to eBills: when an eBill is paid, and has Vendor Credits applied, the Receivables side will be able to view and apply the credit on their end, so that the invoice shows as fully paid.
- Payments Made to Non-eBills: review the payment and apply to open or new invoices.
Details on Voided Payments
Payments may be voided for a number of reasons, including a user’s request, a returned payment by the US Postal Service, a failed ePayment (ACH), or the expiration of the check under our new check expiration policy. The May release provides greater visibility into who or what initiated the voided payment and the date and time the void was initiated. All payments pending a void will be marked by a “Void Pending” stamp. And when the void is completed, the payments will show the date and time the transaction was completed.
A Change in the Way We Send AR Invoices
Yahoo recently updated their DMARC (Domain-based Message Authentication, Reporting & Conformance) policy to no longer allow emails to be sent as “@yahoo.com” email addresses unless they have been sent through Yahoo servers. This is a security measure from Yahoo to protect you from unauthorized users using your email address to send spam, or phishing messages; you can read more about it here.
We anticipate this becoming industry practice, and expect that other email providers will soon follow suit. To fix the issue for Yahoo users, as well as to avoid similar roadblocks in the future for users employing other email providers, we are changing the way we send AR Invoices via email. Going forward, the “From” address will always be email@example.com, and the “Reply To” address will be the email address of the user selected. That way, you will always be able to remain in easy contact with your customers.
Simpler Setup for Xero Sync
We’ve improved the setup process for the Xero sync, so that it’s faster and easier for Xero users to streamline their workflow.