QuickBooks in collaboration with Bill.com launched their first in-product integrated service which was to make it easy for the users to manage their cash flow as it allowed them to track their incoming and outgoing payments at one place.
In the current scenario, we use various useful services to manage our finances more efficiently. Intuit came up with a new and trending feature in QuickBooks Online. Though initially it was launched as a beta version. The idea was to help users who can easily pay and manage their bills.
How does QuickBooks Online Bill Pay Service work?
The service uses Automated Clearing House (ACH) and MasterCard RPS Network to electronically transmit payments from your Bank to the biller as per your specified date. In case the receiver is unable to accept electronic payments directly to their bank account, they will be sent a Check via Mail. The payment records will be generated on both sides if you are using this feature for making or receiving bill payments. On the receiver’s end, the user will get records as check payment records. The record of all these transactions will be generated when a payment is made. Users do not need to wait for their payments to be recorded individually.
Let’s Get Started with QuickBooks Bill Pay Application
You will see Some key methods which will be required to use this application/feature.
- Adding payment data in records for processing payments.
- Inviting Vendors for Online Payment in QuickBooks Bill Pay Application.
Types of Payments
Over here the payments are fractionated by their time to get delivered so in the following, we will discuss those types and their description.
ACH (automated clearing house / electronic bank transfer):
Usually, It takes 4 days to deliver for the first 5 payments. If the amount is $ 5,000 or less. Later, 2 days can be taken for the arrival of payment which can be seen in arrive by button.
In this type of payment methods, paper checks are mailed to the vendor via Postal Service. There is an estimated time which can be seen via the Estimated Arrival button, however, Intuit cannot interfere if US Postal Service itself takes more than that estimated arrival time.
An amount which is $5,000 or more than that, it may take an extra day as Estimated Arrival time. According to the Intuit policy users can schedule their payments themselves however they should also mind the policies determined by their banks. i.e. any extra surcharges on a particular amount.
All applicable charges are applied through QuickBooks Online Bill Pay Service:
Some titular charges are applied to payments done through this service which includes monthly subscription charges excluding transaction fee. Charges are also applied on the basis of their payment type for each ACH payment and paper check payment. You can find all the charges on that particular payment in your debit/credit card records as well.
If the user is already having a bill.com account:
Using your old bill.com account which was synced with QuickBooks Online is never a good idea, even it is not allowed so. The user should not use the same account while signing up with QuickBooks Online Bill Pay Service. A user should rather create a new account. The user can remove, delink or deactivate their old bill.com account. Which was earlier synced with QuickBooks Online which can be done by logging on to bill.com.
If you are seeking technical help, Contact us at Our QuickBooks Support Phone Number 1-877-263-2742 and speak to a QuickBooks ProAdvisor.
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