Bill.com

Category Accounting
Reviewed by Alina
Updated July 8th, 2021

Tekpon Score

8.4

Users Score

7.5

Bill.com Review

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Bill.com is a software company based in the United States and preferred by most of the top 100 accounting companies in the country. The companies mission is to free SMEs from the burden of manual processing.

UI/UX

7.9

Ease of use

9.8

Value for Money

8.6

Features

8.5

Customer Support

7.1
Pricing Details

Starting from: $39

Pricing Model: /user/month

Yes, has free trial

No free version

PROs
  • Good Mobile Apps
  • Great set of integrations available
  • Easy to use
  • Flexible
  • Cash forecast
  • Automation
  • Artificial Inteligence
  • Generous with SMEs
CONs
  • No phone support
  • Can get expensive for all automation
  • Reports functions could be better
  • Billing information required for a free trial
Best for
  • StartUps
  • Large enterprises
  • Small business
  • Medium business
  • Freelancers
Deployment
  • Mobile - Android
  • Cloud, SaaS, Web-Based
  • Mobile - iPhone
  • Mobile - iPad
Alternatives

What is Bill.com?

Bill.com is a cloud-based automation software for account payable and accounts receivables; however, the company defines it as an intelligent digital business platform. Thus, making the collaboration between provider, supplier, and client easy and time-efficient. In addition, the solution is more than the basic AP/AR tool through its AI-powered automation system.

What is Bill.com - tekpon

How can Bill com help you?

Bill com will enable you to automate tedious tasks that “eat” hours of your life. They even go as far as promising to reduce the time you spend on account payables by 50%.

Further, Bill.com’s main goal is to help small and medium-sized businesses through their tool to gain time for their business. They accomplish this by integrating with other software such as Quickbooks, Xero, and Oracle NetSuite. Last, the Bill.com app for Apple and Android will enable you to approve and pay your bills on the go.

Now, let us move on with the Bill.com review to determine how to set up the software, its features initially, and how much money it will take out of your business each month.

How does Bill.com work?

As most of the accounting software of its kind on the market, Bill com is pretty straightforward to use, and it does not require much of a technical user to get it going. First, register an account at Bill.com. Then add your company information and connect your bank account/accounts. Last, it integrates with any of the accounting software to register your transaction automatically.

Is Bill.com safe?

Yes. All bills paid through Bill.com are FDIC-ensured. Regular SOC 1, Type 2 Audits of their processes. Meaning they are audited based on a set of industry-controlled criteria regarding security and confidentiality and the integrity of their transaction processing.

Moreover, Bill.com comes with the separations of duties. While you are at the beginning of your business, you do it all, but you can separate the accounting and payments sides to protect your business from fraud once you grow. Thus, once you get more people involved in your business, you might want to increase the security and free up some of your time. This is exactly when this will come in handy as Bill.com offers you the option to segment the process.

Above all, keep in mind that you have the ability to set an approval role, the person that can review everything.

Bill.com Features

Moving on with the Bill.com review to the features section to see what this software can exactly do. As with any review, we advise you to take this with “a grain of salt.”

Accounts Payable

If you are familiar with accounting software such as Xero, NetSuite, etc., you acknowledge that they already cover a large part of accounts payable. Account payable software such as Bill.com makes accounting and keeps track of all your payments without double data entry. Through the integration, you will avoid any faulty accounting and keep track of your bills in an organized and consistent manner.

accounts payable - Tekpon Bill.com review

Bill.com will facilitate the payments through its automation and segmentation of payments, meaning you can delegate bills to certain parties or automate them. Automating bill payments can save you up to 50% of your time and ensure that you are never late in paying your bills. However, if you are not totally on board with automating this process, you can still enjoy the notification of due bills and setting a level of permissions.

Accounts Receivable

Bill.com has a life-cycle approach to receivables. First, the tool has a template for invoicing creating that allows you to personalize and create the invoices straight into the accounts receivable software.

Second, you can send and monitor the send invoices directly from the platform, including the US post. Third, send reminders to your customers for payments. Fourth, give your customers several options of payment, including direct withdrawals from their bank accounts to get paid faster.

Last, Bill com does the reconciliation between your accounting system and the AP/AR software.

International Payments

Send international payments as easy, and you send domestic payments.

International payments procedure

Let’s review what does Bill.com means by this. Thus, to be more specific, the company offers the option to send as easy as in the domestic market payments through two:

  • $0 wire transfer fee in local currencies
  • International transfers in dollars at $9.99 per transfer

amounts charged for international transfers

Automatic Check Payments

These two features work more or less the same.  One of the main reasons why we like Bill.com is how it automates checks and ACH Payments. Now, you are probably wondering who is still using checks as a payment method?! We were as surprised as you are to find out that this type of payment is still very frequently used in the US.

Funny enough, it is also one of the most time-consuming ones. Vendors use this kind of payment for one in two reasons they prefer to have it all on paper and avoid credit card fees which is the most common of the two. For example, your landlord might require check payments, a process that is laborious and can be avoided with Bill.com.

Now, let’s review how the automated check payments actually work.

There are various ways to do that. Let’s go through them. The best part about this is that once you have all the data in Bill.com. Now you can get this information by inserting it manually or importing it from your accounting system. For example, you can take a picture of the bill with the Bill.com app and enter import it this way, or if you have a scan or a pdf file, you can drag and drop it.
Once you have that bill in, the software will fill in the information automatically and give you the option to approve the check directly or make some changes and then approve.
The software will pull the money from your bank account, cut the check, put it in the envelope, mail it, and you are done
The software allows you to track the payment. See when it was sent and when it was checked

After going through all the steps, you will check what happened with the transaction and avoid the mess that spins around check payments.

ACH Payments

ACH is an electronic bank transfer used in the United States. However, the method is not as widespread as the vendors need to share their bank accounts to enable it. Bill.com facilitates ACH Payments in a similar way it does with checks. Moreover, you have the option to invite the vendor to set up payments, therefore connect to them and facilitate Bill.com to transfer the money.

Keep in mind that against an extra cost, Bill.com gives you the option to speed up the process.

  • Same-day – $9.99
  • Next day – $9.99
  • 2- 5 days – $0.49

1099 Contractor Payments

Bill.com integrates with Tax1099 and optimizes this through it. If you do not use the list, the software lets you import all the information through CSV. file.

Customer Service

Considering the real simplicity of the tool, we don’t see the need for very sophisticated Bill.com customer services. Yet again, it does not count what we consider at the end of the day as the final customer that counts, which does not appropriate from what we see that Bill.com does not have phone support. However, we found the Bill.com tutorials helpful and well thought through. Still, there are customers out there for which a video on how to set up the software is not enough, and they don’t have the patience to wait for the customer service to reply to their email. For this reason alone, we consider that Bill.com’s customer support service could be better.

Moreover, keep in mind that while you might not be satisfied with Bill com’s software support, if you have a product that integrates with it, you might be able to get some of the support over there.

Bill.com App

The software offers the option of approving bills or sending invoices on the go from the Bill.com app. The apps offer the full functionality of the cloud version with the extra mobility associated with the applications. Please leave us your Bill.com reviews and let us know what your opinion about the application is.

Bill.com Integrations

Bill com comes with two types of integration Auto-sync and Data Integrations.

Automatic Sync Integrations

  • QuickBooks
  • Xero
  • Oracle NetSuit
  • Sage Intacct
  • Microsoft Dynamics

Data Integrations

  • SAP
  • Sage
  • Microsoft
  • FreshBooks
  • Yardi
  • Thomson Reuters

Bill.com Pricing

Starting From: $39/user/month

Pricing Model: Subscription

Free Trial: 30 days

For more information on Bill.com fees and pricing, packages read more in the dedicated section.

Bill.com. Alternatives

Top Bill.com alternatives

  • Plooto
  • Sage Intacct
  • Airbase
  • SAP Concur
  • DocuWare
  • Spendesk
  • Nvoicepay
  • Beanworks
  • Plate IQ
  • Dwolla
  • Armatic

For more information check out the page for Bill.com alternatives.

Bill.com Review Conclusion

To wrap up, the Bill.com review we can say with certitude it is easy to use. What it lacks in customer service, we can say it makes up for plenty in automation and time-saving features. Moreover, Bill com has an interesting set of integration which makes it easy for 80% of small and medium-sized companies to connect and use it. Last, let us know your review of Bill.com and aspects you love and hate about this software.