Bill.com is always working to improve your accounts payable and accounts receivable processes! Here are the top features for this month, as well as a few more updates you should know about.
What's new - top features
Keep your connected vendor records up to date even when you're linked to their account, and get payments out sooner, to the right place!
While we do suggest letting the vendor manage their address in their own account, which will update your vendor record for them, we understand that there may be times this is not possible. In those cases, you can now unlock the vendor's address on your side, and update. Rest assured, this will not break the connection to your vendor, and we will automatically update your records if your vendor does update their address later.
Avoid payment delays due to incorrect or incomplete bank information, and unnecessary back and forth, by sending invitations to your Canadian vendors. In just a couple easy steps, your Canadian vendors can double check their address, and enter their bank info, so you can start sending payments sooner.
Note: This feature is rolling out in phases. If you don't see it, stay tuned!
Let us help you avoid late fees and save you time monitoring your vendor direct payment statuses. No need to worry if your vendor has misplaced their vendor direct virtual card number, or if they can't process payment. We will keep an eye on it for you, and if the card number isn't processed after 20 days, we'll automatically void the vendor direct payment, and send a new payment via the vendor's backup method - ePayment or check.
There is no cost for the reissued payment or the void, and we will notify you and your vendor that a new payment is on the way.
- An Items column was added to the Approvals page to help with your bulk approvals
- A new audit trail on your international vendor's bank accounts lets you know who added the vendor's bank, and when
- You can now use items on payable bills for multi-currency vendors
- A new Foreign Currency Paid Gain and Loss report lets you know much your gains and losses were for the bills you have already paid