If you have an advanced paid account with Bill.com, you have the option to accept payments from customers via credit card.
If you have a subscription-free basic account, you'll need to upgrade to accept credit card payments.
Jump to:
- Sign up to accept credit cards
- Toggle credit card payments on and off
- Accept credit card payments with Bill.com
Sign up to accept credit cards
Log in to Bill.com
Select Settings
Select Receivables
Select Online Payments in the left navigation bar
Select Setup next to Credit Card
If you're immediately approved, select Accept Cards Now
- If additional documentation is required, select Apply now and follow the steps to add the requested documents.
- If additional documentation is required, select Apply now and follow the steps to add the requested documents.
You can also sign up while creating an invoice. Select Get Started under Online Payments when creating an invoice to get setup.
Toggle credit card payments on and off
Once you sign up to receive credit card payments, you can turn it on or off anytime.
- Select Settings
- Select Online Payments under Receivables
- Select Manage next to Credit Card
- Toggle Accept credit card payments to on or off
Accept credit card payments with Bill.com
Benefits of accepting payments via credit card
- Get paid faster. Get paid up to 3 days faster compared to ACH.
- Give your customers an easy way to pay. Allow your customers to easily submit online payments without needing to create a BILL account.
- 2.9% industry-standard, flat fee. 2.9% fee for all card transactions with no additional fees.
- We charge the fee at the time of the payment, so the amount you receive from your customer/payer would be 2.9% less.
Things to know when you accept credit card payments with Bill.com
- Credit card payments you accept through Bill.com will be deposited to your default Bill.com bank account
Reconcile credit card transaction fees when you accept credit card payments with Bill.com
You'll need to manually record those fees in your accounting system. To view & reconcile the fees charged on each transaction, download the Received Payments report
- Select Reports
- Under Receivables, select Received Payments
- Enter parameters for the report
- Select View or Download
The example below shows how to manually record credit card transaction fees in your accounting system:
- On 1/1/2023, Acme Inc received 2 credit card payments totaling $ 400
- Credit card transaction fees total $ 11.60
| How To Reconcile Credit Card Transaction Fees | |
|---|---|
| Bill.com company - ACME INC | Receivables transactions for 1/1/2023 |
| 1/1/2023 - Credit card payment received | Acme Inc invoices customer John Smith for $ 300 Customer John Smith pays Acme $ 300 Bill.com receives the $ 300 Bill.com deposits $ 291.30 into Acme Inc’s Deposit to account Bill.com retains $ 8.70 |
| 1/1/2023 - Credit card payment received | Acme Inc invoices customer Doug Jones for $ 100 Customer Doug Jones pays Acme $ 100 Bill.com receives the $ 100 Bill.com deposits $ 97.10 into Acme Inc’s Deposit to account Bill.com retains $ 2.90 |
| 1/1/2023 - Total credit card payments received | Total receivables credit card transactions: $ 400 $ 388.40 deposited to the user’s bank account $ 11.60 in fees held by Bill.com |
| If you sync Bill.com with an accounting system other than QBO | |
| Receivables payment sync to accounting system: | $ 400 - Credit to Accounts Receivable $ 400 - Debit to Deposit to account |
| Manual entry to record daily AR credit card fees: | $ 11.60 - Credit to Deposit to account $ 11.60 - Debit to Credit Card Fees Expense account |
| If you don't sync Bill.com with an accounting system | |
| Manually record receivables payment in accounting system | $ 400 - Credit to Accounts Receivable $ 400 - Debit to Deposit to account |
| Manual entry to record daily AR credit card fee: | $ 11.60 - Credit to Deposit to account $ 11.60 - Debit to Credit Card Fees Expense account |
