During its annual QuickBooks Connect user conference in Las Vegas, Intuit unveiled Quickbooks Bill Pay, a new fully integrated product that automates accounts payable and revolutionizes business bill payment.
For business owners, creating diverse systems to manage bill payments to vendors and contractors can result in a time-consuming web that may cause costs to be overlooked. But with tracking and bill payments now seamlessly integrated within the Quickbooks platform, a suite of robust financial and accounting tools that delivers unmatched benefits of simplicity, speed, and accuracy that can help businesses manage their money more effectively, QuickBooks bill pay tackles this issue head-on.
Small and mid-sized businesses can benefit from QuickBooks Bill Pay’s time-saving automation, digital record-keeping, seamless payments, advanced controls with team roles and permissions, and easier vendor and contractor administration. Companies may:
- Make invoices automatically: QuickBooks automatically generates an invoice when you import vendor invoices. Businesses only need to review and save.
- Assign employees ownership responsibilities: Customers of QuickBooks Bill Pay Elite can designate who is able to create, authorize, and pay bills by sharing roles and permissions. Setting rules restricts access to other QuickBooks features while enabling customization and automation of the bill acceptance process.
- Effortlessly arrange their books: When paying contractors and vendors with QuickBooks, the company’s integrated AP automation features will immediately match and record the transactions in their accounts.
- Remain tax-ready by going paperless: Instead of distributing your digital bill and payment records around several platforms, spreadsheets, or folders, save them all in one location.
- Determine how to reimburse contractors or vendors: Use QuickBooks to send paper checks or electronic payments. It saves you time to issue and mail checks, even if your vendor prefers paper checks.
- Keep track of 1099s: Businesses may quickly identify who needs a 1099 by having all vendor information in one location, which helps them maintain compliance. QuickBooks Bill Pay Premium or Elite allows businesses to file unlimited 1099 forms at no extra cost.
According to David Talach, Senior Vice President of Intuit’s QuickBooks Money Platform, “We’re revolutionizing money movement across the QuickBooks platform to improve the number-one problem small businesses face – cash flow – which impacts their success rates. QuickBooks Bill Pay is an essential component of our ecosystem to provide small businesses with a single, comprehensive financial solution for managing their finances. By merging Bill Pay with our other financial services, we give our clients access to revolutionary automation features and the financial transparency and clarity they require.”