Did you miss our Release Webinar? No problem! Watch the recording here: May 2015 Release Webinar
Bill.com is getting a new look!
We’re excited to unveil our fresh new look in this release! This will be rolled out in phases over the next few weeks, and we think you’ll be pleasantly surprised by the fresh, clean, and user-friendly direction we’re taking Bill.com.
Get paid faster! Now you can connect with more of your customers who already use Bill.com to pay their bills. We’ve already started letting you know when we find potential vendor matches in our network - now you’ll start seeing customer recommendations as well. And as you create new customers and vendors, or sync new ones from your accounting system, you’ll see new recommendations.
Status Updates on eInvoices and eCredits
Bill.com Receivables users have asked for visibility into the status of the invoices sent to connected customers. Now, we’re providing important status updates on eInvoices and eCredits, including when an invoice or credit has been accepted, approved, denied, and when a payment has been processed or voided. Status updates will appear on eInvoices/eCredits created after May 8th, 2015.
Better Search Results
Network Search Stop Words: In order to improve your results, the search will no longer take into account the following words: LLC, INC, &, and, of, Corp, and Co.
“Managed By”: Search results will now include “Managed By” information for each company, as first name, last initial, and partial email address.
Compliance and Security
Sign in - “Remember my email address”
Now on the Sign In page you can select “Remember my email address” to make accessing your Bill.com account faster and easier.
“Add Bank Account” changes
Bank Account Type: NACHA (National Automated Clearing House Association - the organization that governs automated money movement in the United States) requires users to indicate the bank account type when adding any new bank account - your own account for making or receiving payments, a private vendor bank account, and a customer’s bank account (both if you add bank information directly, and when they add it themselves, in the customer portal); now, in all of these workflows, you will be able to select the bank account type from a dropdown menu. You will also be required to provide the form of authorization you have received to initiate payments on your customers’ behalf if they provide you with the information for a non-business checking account.
Routing / Account Number: We’ve made it easier to see exactly what information needs to be added in these fields, and where to look on a check to find it.
Primary Company Owner and Tax ID
In order to remain compliant with laws and regulations surrounding money movement, users will be required to list the Primary Company Owner and Tax ID in their company profile. Existing users will receive a notification in their To Do List to complete the Company Profile for their business, in order to add this required information.
Sync and Import/Export
Xero and QuickBooks Online AP Sync 2.0 (Beta)
We are actively building out Xero and QuickBooks Online 2.0 syncs. These new integrations will have simpler setup, better control, and easier management. Payables sync 2.0 for Xero and QuickBooks Online is now in limited Beta.
NetSuite Sync 2.0
Based on your feedback, we’ve learned a lot about what makes for a good sync experience, and we’re working on improving all the time. In this release we’re streamlining the setup process, supporting auto-numbering for Vendor IDs, reducing errors, making existing errors more user-friendly, and more!
Payables Cash Detail Report - Optimized for Microsoft Dynamics GP
We’ve made some changes to the Payables Cash Detail Report, to help users of Microsoft Dynamics GP and similar systems keep their books updated more easily. The CSV file contains journal entries with payment activity and corresponding bills and vendor credits. This report is modified from the existing Cash Detail Report, with the addition of a few new columns: Number of distributions, Vendor ID, 1099 tracking, and all dimensions.