Bill.com lets you pay international vendors electronically, making cross-border business payments just as easy as domestic payments.
By consolidating your payments onto one platform, you can save time with automated workflows and sync with accounting software. In addition, save money by paying global vendors in local currencies with competitive exchange rates and no wire transfer fees or intermediary bank fees.
To learn more, below is a list of new product improvements, key benefits, instructions on how it works, and FAQs to help answer your questions.
- Now you can send invites to your international vendors, so they can add their bank information directly!
- Bill.com automatically detects whether your accounting software supports multi-currency and syncs the gains and losses for your foreign currency bills accordingly
- Manage your books more efficiently for paid and unpaid foreign currency bills with our Unrealized and Realized Gains and Losses reports
- Bill.com consolidates all payment activity into one system. It automates approval workflows for both international and domestic payments, supports controls, and provides audit-ready trails.
Avoid struggling with double data entry. Bill.com automatically syncs with Sage Intacct, Oracle NetSuite, Intuit QuickBooks Online, QuickBooks Desktop, and Xero.
Now, Bill.com syncs your bills even if multi-currency is not turned on in your accounting software
Simply log in to Bill.com to see the status of all your payments, detailed payment information such as estimated delivery times and remittance information, exchange rates, confirmation, and more
We proactively share the payment tracing details with your vendor to help them resolve any issues with their banks
In comparison to some banks, access payment tracking for no additional fee
- $0 wire transfer fee and competitive exchange rate for payments in local currencies. International wires sent in USD are $9.99 per transaction.
How It Works
Bill.com streamlines the AP process for businesses, supporting 137 countries and 106 currencies worldwide. See the full list here.
- On the vendor's detail page, follow the Bill.com prompts to enter the vendor’s address, bank location, currency, and bank information
- Avoid wire fees by opting to pay in a vendor’s local currency
- Send invites to your international vendors so they can add their bank information directly.
- If a document in your inbox has the vendor's SWIFT or IBAN code, our Intelligent Virtual Assistant will detect it and make it even easier to get your international vendor setup for payment in just a couple clicks
- Click Create Bill or select a document in the inbox and click Enter Bill
- Select the international vendor from the drop down. Bill.com will display the currency and current estimated exchange rate for bills in local currency
- Our Intelligent Virtual Assistant helps you easily create bills for your international vendor from inbox documents by prepopulating important info, and even helping you setup the vendor for payments, if the document includes a SWIFT or IBAN code
- Add approvers, just as you do for domestic payments
- Send international payments by selecting the bill to pay. For added convenience, opt to make bulk payments
- Hit submit when ready to pay. The bill will appear in scheduled payments along with all domestic and international payments
- In the Payments Out tab, click the payment confirmation number to track your payment
- You can sync transactions of all currencies between Bill.com and your accounting software, including the gains and losses of foreign currency transactions
- You don't have to have multi-currency enabled to sync international transactions from Bill.com to your accounting software, giving you more freedom to control your preferences in your accounting software
Frequently asked questions (FAQ)
- International payments: Set up an International vendor
- International payments: Set up an international vendor for payment
- International payments: What your invited vendors see
- International payments: Entering foreign currency bills
- International payments: Paying an international vendor
- International payments: Country information
- International payments: Benefits of paying in foreign currency
- International Payments: Avoiding payment delays
- International payments: Sync with Accounting Software
- International payments: Tracking a payment