Great news for Bill.com users! Completing accounts receivable and accounts payable tasks just got easier in 2020, thanks to some helpful new features.
Bill.com, a BPM Technology Solutions partner, is a leading provider of cloud-based software that simplifies, digitizes, and automates back-office financial processes for small and mid-sized businesses.
Here is what users can look forward to:
iACH Payments to Canada
To expand your international payment options, you can now choose to send iACH payments or wire payments to your vendors in Canada. iACH payments take 1 business day to deposit to your vendor, vs same day with wires, but iACH payments do not have any bank fees to your vendor. When you set up a Canadian vendor, you can select either method for payments, and change it at any time.
Google Authenticator for backup MFA
Use Google Authenticator as another way to get backup multi-factor authentication (MFA) codes. Google Authenticator is a free downloadable mobile app that provides a new code every 30 seconds for apps linked to it. Once setup, you can open the app and use the current code as backup MFA in Bill.com.
Lead time preferences, which determine the default process date of your payments, can now be set between -60 and 100 at the account and vendor levels.
You can now turn off the notification that lets you know your customer has created an invoice, in your notification preferences.
International wire exceptions
If your international wire encounters a delay or exception, we will now update the payment's arrives by date in the payment record, when the exception has been resolved.
Check number sync
We will now sync check numbers from Bill.com payments to QuickBooks Online, in the payment memo field.
Bank customer or vendor sync
To continue complying with federal recordkeeping laws, if a piece of important info is missing from a vendor or customer in your accounting software, the vendor or customer will not update in Bill.com and you will see a sync error letting you know what is missing.
BPM will keep you updated on additional new features coming later this year.
If you are interested in learning how Bill.com can benefit your business and make your job easier, reach out to BPM Technology Solutions team to learn more.