QuickBooks Tip of the Month: Streamline Your Bill Pay Process with QuickBooks!
Managing your bills just got easier! QuickBooks Bill Pay allows you to automate payments, gain real-time cash flow visibility, and ensure secure transactions—all within one platform. Whether you’re using QuickBooks Business Network or not, you can pay via ACH or check directly in QuickBooks.
Here’s how QuickBooks Bill Pay can benefit your business:
- Real-Time Cash Flow Visibility:
By entering bills as they arrive, you get an accurate view of your upcoming cash outflows, making financial decisions simpler. - Accurate Expense Recognition:
Record expenses on the bill date, not the payment date, to improve budgeting and forecasting accuracy. - Eliminate Guesswork:
Pay directly through QuickBooks, removing any uncertainty and avoiding double entries. - Better Security:
ACH payments are faster and safer than traditional checks, reducing risks like stolen mail and check fraud.
How to Pay a Vendor and Manage Payment Info in QuickBooks:
- Pay a Vendor Who’s Part of Your Network (No ACH Info Needed)
- Ensure you’re connected with the vendor in QuickBooks Business Network.
- Create a bill and schedule a payment to the vendor directly.
- Enter ACH Info Manually
- If you prefer to enter ACH info manually, you’ll need to disconnect from the vendor in QuickBooks Business Network.
- Go to Expenses> Vendors > Manage your connections and invitations > Remove.
- Then, create a bill and schedule the payment as usual.
- Invite Vendors to Add Payment Info in QuickBooks
- Sign in to QuickBooks Online.
- Select Expenses> Vendors.
- Add a new vendor or edit an existing one.
- In the vendor drawer, click Ask for Payment Info.
- Enter the vendor’s name and email address, then click Continue.
- Select Send Invite to send the invitation to your vendor.
Once your vendor accepts the invitation, you’ll be able to make payments without manually entering their payment information.
QuickBooks Bill Pay has a free tier to help you get started, and ProAdvisor discounts like those available through One 8 Solutions are also available for upgrades.
Ready to simplify your payments and streamline your cash flow? Schedule a meeting today!
