Bill.com

Accounts Payable

Bill.com streamlines your accounts payable processes by automating invoice approvals and payments. This feature allows users to manage bills electronically, ensuring that invoices are paid on time, reducing late fees and improving vendor relationships. By centralizing all payment activities, businesses can eliminate manual data entry, minimize errors, and enhance overall efficiency.

Accounts Receivable

With Bill.com’s accounts receivable functionality, businesses can easily send invoices and receive payments online. This feature enables automatic reminders for overdue invoices, which helps improve cash flow and reduces the time spent on collections. By providing customers with a convenient way to pay, businesses can enhance customer satisfaction while accelerating their revenue cycle.

Bank Reconciliation

Bill.com simplifies bank reconciliation by automatically matching transactions with your bank statements. This feature eliminates the tedious manual process of reconciling accounts, allowing businesses to quickly identify discrepancies. By ensuring accurate financial records, organizations can maintain better control over their finances and reduce the risk of fraud.

Billing and Invoicing

The billing and invoicing feature in Bill.com allows users to create customizable invoices that reflect their brand identity. With the ability to automate recurring billing and track invoice statuses in real-time, businesses can ensure timely payments and reduce administrative workload. This feature addresses the challenge of managing multiple client accounts while maintaining professionalism in financial communications.

CPA Firms

Bill.com offers specialized tools for CPA firms that facilitate collaboration with clients. The platform enables accountants to access client documents seamlessly while providing a secure environment for data sharing. This feature addresses the challenge of managing multiple client accounts efficiently, allowing CPA firms to enhance their service offerings while saving time.

Cash Management

Bill.com provides comprehensive cash management tools that help businesses monitor their cash flow in real-time. Users can gain insights into their financial health through detailed reporting and forecasting capabilities. This feature aids in making informed decisions about spending and investments, ultimately leading to improved financial stability.

Collections

The collections feature automates the follow-up process for outstanding invoices. By sending reminders and notifications to clients regarding overdue payments, Bill.com helps businesses recover funds more efficiently. This proactive approach reduces the burden on finance teams and improves cash flow by ensuring timely collections.

Expense Tracking

Bill.com’s expense tracking feature allows users to capture receipts and categorize expenses effortlessly. By integrating expense management into the broader financial workflow, businesses can maintain accurate records and streamline reimbursement processes. This functionality helps organizations control costs effectively while simplifying compliance with financial regulations.

Fixed Asset Management

The fixed asset management feature provides tools for tracking asset purchases, depreciation, and disposals within Bill.com. By maintaining an organized inventory of fixed assets, businesses can ensure accurate financial reporting and compliance with accounting standards. This functionality addresses the challenge of managing physical assets while optimizing tax benefits related to depreciation.

General Ledger

Bill.com includes a general ledger feature that consolidates all financial transactions into a single source of truth. This capability simplifies bookkeeping by automating journal entries and providing real-time visibility into financial performance. With accurate and up-to-date records, organizations can make informed strategic decisions based on their current financial status.

Multi-Currency

For businesses operating internationally, Bill.com’s multi-currency feature allows users to manage transactions in various currencies seamlessly. It automatically converts currencies based on current exchange rates, facilitating accurate reporting and accounting across borders. This functionality solves the complexity of international transactions by ensuring compliance with local regulations while maintaining financial accuracy.

Project Accounting

The project accounting feature enables users to track expenses, revenues, and profitability associated with specific projects. By providing insights into project performance in real-time, this capability helps managers make informed decisions regarding resource allocation and budget adjustments. It addresses the challenge of ensuring projects stay within budget while maximizing profitability.

Purchasing

Bill.com’s purchasing feature streamlines procurement processes by allowing users to create purchase orders directly within the platform. This capability ensures that all purchases are tracked from request to payment, promoting accountability and reducing maverick spending. It solves challenges related to inventory management by providing clear visibility into purchasing activities.

Revenue Recognition

Bill.com’s Revenue Recognition feature automates the process of tracking and reporting earned income based on accounting standards. It aligns recognized revenue with delivery milestones or time-based criteria. This feature ensures financial compliance, improves forecasting accuracy, and supports clear visibility into how and when revenue is realized across business operations.