August 24, 2018Share:
Accurate and timely financial reporting is instrumental in the success of a business. It requires time to keep the company’s finances in order which can prevent the owner from focusing on operations. It is very easy to get behind and it is even harder to catch up. Luckily, with the advances in technology, there are countless solutions designed to increase the efficiencies in financial management. One cloud-based solution, Bill.com, focuses specifically on accounts payable and accounts receivable and streamlining the process.
Bill.com completely removes the need for a business to have paper, checks, and even postage. All documents are stored in the cloud and Bill.com’s system remits/collects payments electronically. If a vendor still wants to receive payments via check, Bill.com will mail the check on behalf of the business. This allows for collections to be received quicker and for payments to be remitted on time.
The technology of the software is mobile friendly. With the app, documents can be uploaded with a photo taken from a smart phone, and approval of bill payments can be made within the app as well. Bill.com also has multiple internal control options available to help ensure your money is secure.
The software assists with the accurate reporting of data because it syncs with most accounting software. This allows for up to date reporting, which provides the business with accurate financial information prior to making significant business decisions. The cloud-based storage is beneficial when it is time to prepare the company’s tax return because the information can be easily accessed by your accountant.
Bill.com is designed to help businesses spend their time focused on operations.
Are you interested in using Bill.com, but unsure of where to begin? Contact our Outsourced Accounting Services team to learn more.