Bill.com Receivables Officially Launches

PALO ALTO, Calif. — Bill.com, the leader in paperless bill management and payment for small- and medium-sized businesses (SMBs) and CPA firms, today announced that Bill.com Receivables is available to all existing and new users looking to better manage their day-to-day financial operations online, anywhere an Internet connection is available. Receivables more than doubles the business processes capable with Bill.com, enabling users to send custom invoices, collaborate with customers and receive electronic payments.

“Bill.com Receivables is a major milestone in our efforts to offer everything businesses and their accountants need to pay vendors and get paid, and a breakthrough for our users looking to focus more on their business and clients and less on their bills,” said Jeff Schultz, vice president of sales and marketing, Bill.com. “Special thanks to our beta testers who helped us launch the product so quickly.”

With Bill.com Receivables you can:

• Email personalized invoices and send automatic reminders: Bill.com synchronizes invoices and customer information with QuickBooks Desktop (other accounting packages coming soon)
• Automatically create a branded “payment portal” for each of your customers to make it easy for them to make payments and see all the invoices you have sent them
• Collaborate with customers by exchanging messages and keeping a complete audit trail of payments and communications
• Make electronic payments easy: Customers can easily add bank account information to make ePayments and set up recurring payments. Payments go directly into your bank account and are synchronized with QuickBooks Desktop (no trips to the bank and no data entry)
• Get Paid via Credit Card: In addition to ePayments, customers can now pay via credit card. Payments are deposited directly into your PayPal account where they can then be used to pay other PayPal vendors directly from Bill.com.
• Avoid credit card fees: Bill.com ePayments cost only a 49¢ flat transaction fee
• Review cash flow on the Bill.com Calendar: anywhere/anytime

“With Bill.com, our property owners easily submit electronic payments into our receivables bank account. No more checks lost in the mail, tracking down invoices or follow-up hassles,” said Diana R Murray, Director of Business Development, ASAP Accounting & Payroll Services, Inc. “We know immediately when a payment has arrived and the system sends out automated reminders to owners who are overdue. Thank you Bill.com for letting us focus what matters – managing the properties not the bills!”

Bill.com is offered to the accounting profession exclusively though the Bill.com Accountant Program from CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA).

Pricing and Availability

Bill.com Receivables is available as a packaged bundle with Bill.com Payables for $24.99/Month (1 user included). Receiving electronic payment from customers directly into a bank account costs $0.49 per transaction.

About Bill.com
Bill.com is an on-demand accounts payable and accounts receivable application for CPAs and small and midsized businesses. Bill.com users can receive, route and pay invoices electronically — they never have to touch a paper bill again — resulting in time and cost savings to finance personnel of over 50% versus manual accounts payable and check writing processes. Invoices are emailed, scanned or faxed into the Bill.com service. Digital images of invoices are then routed electronically for approval, ensuring a complete audit trail and eliminating lost or mishandled paper. Bill.com handles check printing and mailing as well as electronic payments, and uses enterprise-class fraud protections that are impractical for small and midsized businesses to implement on their own. Bill.com integrates with popular desktop and on-demand accounting packages, ensuring consistency of financial data and streamlined financial planning, reporting and audit activities. Bill.com has received numerous awards including Bill.com’s Zen (Zero Entry) service winning Accounting Today’s Best New AP/AR Product for 2011, a 2009 Innovation Award from CPA Technology Advisor, a 4-star rating from PC Magazine, a 2010 Barlow Monarch Innovation Award for innovation in financial services. Bill.com was recently named to the Red Herring Global 100.