The Newest Feature in Bill.com – Paying a Vendor without Entering a Bill!

Have you ever needed to pay a vendor right away, but have too much going on to drop everything and upload and enter the bill into Bill.com? There is an awesome new feature from Bill.com available for iOS (sorry, Android users) that’s just what you’re looking for!

This new process allows users with the correct permissions to pay a vendor without entering the bill first. The user must be an Administrator (verified to pay), or someone with a custom user role that includes permission to “Manage Bills and Vendor Credits” and “pay unassigned bills via Bill.com.”

How it Works

 

First, select the + (plus sign) in the upper right hand of the Welcome Page in the app and choose “Pay a vendor.”  Bill.com will then create a bill associated with the payment automatically. The invoice number field is populated with the date and time that the payment was scheduled at the time the bill is generated. The expense or item fields won’t be filled in. If the bill is not edited to add the missing information prior to syncing with an integrated accounting system, it will be posted to the account mapped to Unallocated Expense Account  in the Sync Preferences (we created an expense account called “Unclassified in Bill.com” for this process).

Approval Policies

It can get a bit more complicated If you have Approval Policies set up in Bill.com. This could make it impossible for some payments to be made, depending on how many policies you have and if they require mandatory approvers. For a single or lowest threshold policy, the most efficient way to deal with this would be to set up default approvers that emulate the policy.

Example: If a policy requires 3 mandatory approvers on all bills over $1, you would set up the mandatory approvers as default approvers. 

If you set the mandatory approvers as defaults, the auto-created bill will be assigned to the required approvers automatically. This allows the user to make the payment.

Will this be Available in Full Browser Version Soon?

I got the inside scoop from my trusted contacts at Bill.com this week and was told that this new feature is already available in the new user interface. For legacy accounts and accountant users, the beginning phase will be available in May and should be complete by September, if all goes as planned.

Want to know more?

Check out this How To article in the Think Leader Knowledge Center to learn more! Not yet subscribed? Get your free subscription now by visiting https://thinkleader.com/knowledge-center/

Interested in learning how Bill.com Approval Policies and Custom User roles can help prevent fraud in your organizations? Contact us today at info@thinkbeyondthedesktop.com