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Bill.com Winter 2009 Release!

February 20, 2009

We are excited to announce several new features of Bill.com!  Login to your Bill.com account next Thursday, February 26th to check out these new features!



Click for larger imageEnhanced cash flow visibility— Updated calendar and automatic account balance updates

Several enhancements to the homepage calendar provide greater visibility into projected cash flow and make it easier to manage payments directly from the calendar.

  • Your account balance is now automatically updated from your QuickBooks (Desktop and/or Hosted Desktop) or Intacct book balance so you can see more accurate projected balances based on your future outflows in Bill.com.  
  • Mouse over the amount on any given day in your calendar view to see the projected balance. Past outflows recorded in your accounting package but not in Bill.com (e.g., payroll, etc.) will be reflected in the cash flow balances.
  • Our enhanced popup window displays lists of unscheduled and scheduled transactions on dates when you have a projected outflow.

Click for larger imageNew ability to schedule recurring bills
 
Bill.com now supports recurring bills, including recurring bill approvals! Here’s how it works:

  1. Enter your recurring bills and set your preferences on accounts, amounts, approval workflows and frequency. 
  2. Bill.com will create the bill on the dates specified based on your rules.  If you have approval workflows, the first approver will receive a notice to approve after the bill is created

Notes:

  • If you have supporting documents to file with a bill (such as a bill image) simply send those documents to your Inbox and attach them to the appropriate version of the recurring bill.


Click for larger imageNew Inbox display! See more information and do more with fewer clicks!

The new document inbox displays a thumbnail of each document with easily accessible options for deciding what to do next.   Simply mouse over the image to see a larger version of the document. 

This feature was developed with several goals in mind:

  • It makes it easier for you to find, prioritize, and process a particular document, especially if you have several in your inbox
  • It reduces the number of clicks needed to act on an inbox item

Automatic money movement journal entry between Bill.com online payment clearing account and your cash account

The new release eliminates the previous manual step required to "move money" from your checking account into the Bill.com clearing account when making online payments.  The automatic journal entry will debit the Bill.com Clearing Account and credit the Cash/Checking Account for your bank.


Now post offline payments directly to credit card accounts (QuickBooks users only)

If you make a payment offline using a credit card and are synchronizing with QuickBooks (Desktop and/or Hosted Desktop) you can now specify a credit card account to post the offline expense. Previously, you could only select a bank account to post the charge and had to reconcile that to a credit card account. 

Improved accounting package synchronization conflict resolution

Our synchronization error messages are more detailed and will provide you with additional guidance on resolving conflicts.  Simply click on “Fix” when you encounter an error or conflict and you’ll see instructions on how to resolve and prevent the error. 

Going Greener… Bill.com now consolidates payments to the same vendor on same day!

Bill.com will now consolidate payments from a single Bill.com account to the same vendor on the same day onto one check.  The newly designed check voucher will include a summary table showing the invoice numbers and payment amounts paid with the check to avoid confusion at the vendor when applying payments.  The cleared check image will be stored with each transaction.

As was previously announced, multiple payments to the same vendor on the same process date will only count as one online payment when calculating Bill.com usage fees.

Bill detail entry improvements

We have made several enhancements that make it easier for you to enter bill details.

  • It is now easier to see and select accounts and sub-accounts in the bill detail form.   
  • You can now add new payment terms from the bill detail window (no need to go to your company setup page).

Digital file folder improvements

We have made several improvements for managing digital documents.  You can now see the hierarchy for folders and accounts more easily in the folder view and when filing a document to a folder.  Parent folders will be more apparent when filing documents in a sub-folder. And, it is easier to create sub-folders when filing documents. 

Better report organization

We have improved the reporting interface and are now grouping reports into two types of reports: Payables and Receivables. We have also renamed the Money Movement and Money Movement Detail reports to Funds Transfer and Funds Transfer Details reports, respectively.  They can be accessed via the Payables reports area.

Receive a DVD of all your documents, whenever you need it

While Bill.com puts all of your documents at your fingertips (anytime, anywhere) and has significant data backup and system continuity systems in place, many customers want a way to store digitized documents offline. We are now offering the ability to order a DVD containing all documents (or documents within a date range) that you have filed in Bill.com for a fee of $34.99 per request (fee includes standard shipping and handling) by simply calling or emailing support@bill.com.

We are currently offering this is an on-request service however we are considering enabling an automatic monthly/quarterly service in the future (would you be interested? Let us know!). 


The Bill.com Webinar Series

Bill.com is now offering weekly webinars for new customers as well as organizations considering the Bill.com service:

  • Introduction to Bill.com: Designed to introduce Bill.com to accounting and bookkeeping firm clients and organizations considering the service.
  • Getting Started with Bill.com: New Bill.com users are introduced to advanced topics on product usage.
  • Configuration for Accountants: Accounting and bookkeeping firms can learn how to configure the service for handling multiple clients, how to customize Bill.com with your branding, and how to set set billing options.
As always, please let us know what you think of these enhancements and what else we can do to help you get even more value from Bill.com!  If you require assistance or have any questions, please contact us at support@bill.com or call us at 1-866-989-BILL. 

The Bill.com Team

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