Bill.com/ is a straight-forward, but effective, cloud-based system used to enter, approve, and store invoices; and pay vendors. With Bill.com/, the subscribing nonprofit organization essentially outsources substantially all of its accounts payable and payment functions.
Data Capture and Approval
Data capture on Bill.com/ is accomplished via a combination of methods. For example, scanning, manual entry, emailing, faxing, and drag-dropping. Once the item is captured, the data is used to create a “new bill” and assigned to an approver. Then, approvers are automatically notified of action required and can interact via PC, tablet or smartphone.
Payments and Additional Features
Payment of a nonprofit’s invoices are made through a variety of methods including ACH, credit cards, and checks. Multiple bank accounts can be used for payment. Additionally, Bill.com/ offers a cash forecasting feature.
Nonprofit Integration with Accounting Software (MIP)
Bill.com/ utilizes the import feature of MIP to integrate the data. Integration is performed at the general ledger level. Also, all detail vendor and accounts payable history are maintained by Bill.com/.
Licensing and Cost Answers for Nonprofits
Costs for Bill.com/ are based on a per user, per month method with various levels of access. Moreover, each level of usage/cost builds on the one prior.
Essentials – The Essentials level of Bill.com/ provides nonprofits with import/export, standard approval workflows, and unlimited document storage. Furthermore, nonprofits can access payment support with positive pay as well as access to the business payment network. The cost for the Essentials level is $29 per month, per user.
Team – The Team level of Bill.com/ is a cost of $39 per month, per user. This level includes all of the items at the Essentials level, along with custom user roles, cash forecasting, and management.
Corporate – The Corporate level includes the features of the Essentials and Team levels while offering additional automation methods, “approver only” users, and custom approval limits. It is recommended that you reach out to Bill.com/ for details on cost.
Enterprise – The highest level for Bill.com/ is the Enterprise/Custom. Again, this level includes the features in each of the levels above with additional items. These items include multi-entity and multi-location functions.
Another addition to this level is access to the API for Bill.com/, which facilitates syncing with various systems. Specifically, the costs for the Enterprise level are based on several factors and it is recommended that you reach out to Bill.com/ for details.
Lastly, Bill.com/ offers nonprofits transactional services on a per-item fee scale.
- ePayment/ACH processing fee
- $0.49 per send and receive
- Mailing of checks
- $1.49 per check payment
- Payables data entry
- $0.49 per bill
Nonprofit Organizations Best Suited for Bill.com/
Since its founding in 2006, Bill.com/ has concentrated on serving small and mid-sized companies and does not focus on any one sector, such as nonprofits. NFP Partners has worked with one of its clients in creating the import interfaces with MIP.
Nonprofit Accounting Consultant