Bill.com balance is a new way to pay! This article will help you set up balance to sync with your accounting software.
Note: Balance syncs with QuickBooks Online, QuickBooks Desktop, Xero, Oracle NetSuite, and Sage Intacct. If you use different accounting software, you’ll need to enter balance transactions manually there.
Jump to:
- Set up balance sync with QuickBooks Online
- Set up balance sync with QuickBooks Desktop
- Set up balance sync with Xero
- Set up balance sync with Oracle NetSuite
- Set up balance sync with Sage Intacct
- How balance transactions will sync
Set up balance sync with QuickBooks Online
- Create a new GL account in QuickBooks Online.
- See the Add a GL account article in QuickBooks Online.
- The GL account needs to be type: bank
- The currency needs to be in USD
- Suggested name - Bill.com Balance or Bill.com Held Balance
- Run a sync.
- Select Settings in Bill.com.
- Select Classifications and make sure the new GL you created is synced to Bill.com.
- Select Settings again.
- Select Preferences under Sync.
- Select Edit icon.
- Select the new GL account you created in the dropdown for GL account for Bill.com balance and select Save.
Set up balance sync with QuickBooks Desktop
- Create a new GL account in QuickBooks Desktop.
- See the Add a GL account article in QuickBooks Desktop.
- The GL account needs to be type: bank
- The currency needs to be in USD
- Suggested name - Bill.com Balance or Bill.com Held Balance
- Run a sync.
- Select Settings in Bill.com.
- Select Classifications and make sure the new GL you created is synced to Bill.com.
- Select Settings again.
- Select Preferences under Sync.
- Select Edit icon.
- Select the new GL account you created in the dropdown for GL account for Bill.com balance and select Save. 9.
Set up balance sync with Xero
- Create a bank account GL in Xero.
- See the Add a bank account article in Xero.
- The account type needs to be: bank
- The currency needs to be in USD
- Suggested bank name - Bill.com Balance or Bill.com Held Balance
- Suggested account name - Bill.com Balance or Bill.com Held Balance
- Run a sync.
- Select Settings in Bill.com.
- Select Classifications and make sure the new bank GL you created is synced to Bill.com.
- Select Settings again.
- Select Preferences under Sync.
- Select Edit icon.
- Select the new GL account you created in the dropdown for GL account for Bill.com balance and select Save. 9.
Set up balance sync with Oracle NetSuite
- Create a new GL account in Oracle NetSuite.
- See the Creating Accounts article in Oracle Netsuite (you must be logged into Oracle NetSuite to access the article).
- The GL account needs to be type: bank
- The currency needs to be in USD
- The GL account needs to be shared with the subsidiary the sync is connected to
- Suggested name - Bill.com Balance or Bill.com Held Balance
- Run a sync.
- Select Settings in Bill.com.
- Select Classifications and make sure the new GL you created is synced to Bill.com.
- Select Settings again.
- Select Preferences under Sync.
- Select Edit icon.
- Select the new GL account you created in the dropdown for GL account for Bill.com balance and select Save.
Set up balance sync with Sage Intacct
- Create a new GL account in Sage Intacct.
- See the Add a GL account article in Sage Intacct (you must be logged into Sage Intacct to access the article).
- The GL account needs to be type: balance sheet account
- The GL account needs to be created at the same level (entity or top level) the sync is connected to
- Suggested name - Bill.com Balance or Bill.com Held Balance
- Create a new checking account in Intacct and link it to the GL you just created.
- See the Create a checking account article in Sage Intacct (you must be logged into Sage Intacct to access the article).
- The currency needs to be in USD
- The checking account needs to be created at the same level (entity or top level) the sync is connected to
- Suggested name - Bill.com Balance or Bill.com Held Balance
- Run a sync.
- Select Settings in Bill.com.
- Select Classifications and make sure the new GL you created is synced to Bill.com.
- Select Settings again.
- Select Preferences under Sync.
- Select Edit icon.
- Select the new GL account you created in the dropdown for GL account for Bill.com balance and select Save.
How balance transactions will sync
- Adding money to your Bill.com balance: syncs as a credit to the bank GL and a debit to the Bill.com Balance GL if you add money to the balance via an ACH transfer. Money added to the balance via a wire won't sync and you'll need to manually record this transaction in your accounting system.
- Vendor payments paid by Bill.com balance: sync as a debit to AP GL account and credit to the Bill.com Balance GL.
- Bill.com balance withdrawal to a bank account: syncs as a debit to the bank GL and a credit to the Bill.com Balance GL.