Electronic Funds Transfer, or EFT, is a means to transfer money electronically from one banking institution to another. This is accomplished without having paper money or checks exchanging hands. One of the most commonly known application of EFT is direct deposit. However, the term applies broadly to any system that transfer funds electronically.
Bill.com picks up where your current accounting software leaves off: streamlining your accounts payable process and making electronic payments via ACH (or EFT), and improving your accounts receivable process to accept business payments through domestic ACH, international wires in USD or local currency, virtual card, or check. The integration between Bill.com and QuickBooks, NetSuite, Xero, and Intacct means any changes you make in one system will automatically update in the other. There is no double entry, and the two separate systems work in sync as one. All of these features lead to saving your business time and money, help you manage your cash flow, and help you get paid faster.
Bill.com integrates with both QuickBooks Desktop and QuickBooks Online, eliminating double entry when you pay bills or receive payments through Bill.com. Changes made in either system will flow seamlessly into the other.
Learn more about how Bill.com works with QuickBooks Online and QuickBooks for Desktop.
Recognized as an official Xero add-on, Bill.com has a comprehensive integration with Xero as well. This adds the full suite of business payment features of Bill.com to your Xero workflow.
Find out how Bill.com integrates with Xero to improve your accounts payable and accounts receivable workflow.
In addition to the typical Bill.com functionality, NetSuite users have access to an unique offering from Bill.com called Business Payments for NetSuite, or BPFN. BPFN enables electronic payments via ACH inside of NetSuite, so there is no need to start up NetSuite to make online payments.
Read more about the integration between Bill.com and NetSuite and Business Payments for NetSuite.
Bill.com improves upon both Intacct’s accounts payable and accounts receivable processes. Bill.com enables your business to start paying bills electronically via ACH, and have an intuitive approval routing platform to simplify the complicated process of approving invoices prior to payment. In addition, Bill.com adds automatic payment reminders and overdue notices to your customers to ensure you get paid on time.
Find out how Bill.com compliments Intacct and improve your business.
For users of Dynamics, Sage, and other accounting software, Bill.com offers import and export to enable your business to take advantage of our approving routing functionality and electronic payments engine.
Find out how users of Dynamics, Sage, and other accounting software can take use Bill.com to take their business to the next level.