How Bill.com Can Help Your Small Business Accounting
As a small business owner, you probably (most likely) run every part of your business. You don’t just do the services or make the products that started your company. You do the marketing, social media, accounting, and more. Even if you have a small team, you’re still probably wishing you had more time in the day.
Well, the bad news is that we only get 24 hours in the day, and some of that time needs to be set aside for sleeping, eating, and spending time away from your business so that you don’t burn out.
So if you can’t add hours to the day, what can you do to save time? What if you could save time by working more efficiently? We don’t mean setting a timer and only working on a specific task for so long…we mean literally cutting the time you spend on certain tasks in HALF.
Here at Redmond Accounting, we are all about accuracy, efficiency, and productivity. We promote and support small businesses by implementing strategies and platforms that we know will help you succeed and thrive.
One of those platforms is Bill.com. Bill.com is a small business accounting blessing when it comes to accounts payable and receivable processes.
What is Bill.com?
Bill.com is a cloud-based platform that helps businesses manage the inflow and outflows of cash to vendors, clients, and other accounts payable and receivable items.
In past articles we’ve discussed the advantages of cloud-based accounting software and how it helps your small business. Bill.com is one of those cloud-based accounting software programs that we believe can save you time and money and help you focus on growing your business!
Take it from the professionals; over 80% of top accounting firms use Bill.com for their businesses. They also save 50% of the time they used to spend on accounts payable, which equates to 36 FULL 8 hour business days per year! Think about what you could do with that much extra time?
If just changing ONE accounting program can save you that much time, it makes you question what other programs you can utilize to work more efficiently…(Hint: We can help you with that).
Bill.com for Small Business Accounting
It’s no secret that we love Bill.com. We’ve written about top tips on Bill.com, worked with the company, and also provide setup and support of the platform through our services.
There are numerous benefits that you can reap when using Bill.com for small business accounting.
Efficiency
We mentioned above that it saves you time. But how does it save you time? Bill.com integrates seamlessly with top accounting and bookkeeping software like QuickBooks Online (Another RAI favorite) and eliminates the dreaded DOUBLE ENTRY.
When you sync all your payments through Bill.com, it will automatically update in QuickBooks. It may seem like magic, but really it’s just advanced and intelligent technology that we are very thankful for.
The best part? Even though these processes are automated, they are also accurate and secure. You won’t have to worry about keying in the wrong payment, name, or vendor information.
Along with the automated systems, you can set up workflows and approval processes that streamline the entire process from start to finish.
Security
You also won’t have to worry about anyone hacking into your system and stealing financial or personal business or vendor information because data in transit is encrypted using industry-standard Transport Layer Security (TLS).
Want to Learn More?
If you’re interested in learning more about what Bill.com can do for your business, schedule a consultation today!
We’ve got the experience, resources, and support to set you up for success and efficiency in your accounting practices. If you feel like doing your own accounting is becoming too much for you, don’t worry; we can help with that too! We offer bookkeeping, payroll, CFO, and other services that take the accounting off your plate and places it in the hands of the experts!
Let’s chat today to see how we can implement the RAI way in your business!
