How I Used QuickBooks Apps to Solve a Client Issue

As you might have learned from my previous blog, I have been spending time learning about the QuickBooks® Online (QBO) ecosystem. The first thing I learned is that an “ecosystem” is “a complex network or interconnected system.” When relating this to QBO, it describes how QBO can interact with other cloud-based software (apps) to become one interconnected system.

With this in mind, I looked at my client list and found some clients that would benefit from adding apps to their QBO platform. The first client that came to mind is a consulting firm. They work with their clients a number of different ways, from sending their consultants out to work with their clients, to working in person, to working by phone or webinar. Every few weeks, they had to struggle to answer the same questions: How much do they owe their consultants, and how much do they invoice their clients?

Their consultants were using spreadsheets to keep track of who they saw, and how much time they spent. It was like pulling teeth for them to get this information in a timely manner, in order to prepare bills and payments for their consultants, and then invoice their clients. And, if they didn’t get the payments to the consultants right away, you know who they emailed, saying “Where’s my money?”

So, we looked at a couple of different apps for them. They started using TSheets, an app I discussed in my previous blog entry. This was a way for their reps to input their time exactly when they were spending it. Therefore, they didn’t have to try to remember everything they did all week, referencing their notes and day timer. They can put in their time as they went, and when my client was ready to prepare payment to them, the information was already there. The information to invoice their clients was downloaded into their QuickBooks at the same time. As the saying goes, two birds, one stone.

The next issue was the how to actually pay the reps. They had been recording a bill in QuickBooks, going out to their banks website, paying their reps through that portal and checks were then mailed to the reps. Then, they would go back to their QuickBooks and input that payment was made.

I had to overcome some objections to adding another app to their process. They thought it might get too confusing, and weren’t sure about entrusting an app with their bank login information.

However, after giving them the overall big picture and plan, they were able to see how easy the process was now going to be, using Bill.com. We showed them the rating that Intuit® gave Bill.com, and that gave them a sense of comfort. As a matter of fact, they were so happy with the time they were going to be saving that we were able to add another app for calculating commissions.

Now, let’s dive into some of the benefits of Bill.com:

  • Has a paperless payments system that can digitize your accounts payable and receivable process. It works with your bank and accounting software to give you more efficiency and control.
  • Eliminates the need for filing cabinets, as your documents are all stored online. The retrieval and search for documents is really fast and easy.
  • Gives us the ability to have different people approve and authorize the bills for payment, and we can customize it to work on the client’s hierarchy, or bill pay structure.
  • Protects bank accounts from fraud and employee embezzlement because all the funds are paid from Bill.com’s own accounts. That way, no one actually sees your bank account information when they are receiving payment.
  • Payments can be sent out by Automated Clearing House (ACH), or by physical check from Bill.com. When we set up our vendors, we have bill.com send out an email, inviting the vendors to securely record their banking information so that they may receive ACH payments directly into their accounts, instead of receiving a check in the mail. I find that most like the ACH process.
  • Eliminates manual work, such as printing, mailing and filing.
  • If someone calls them about the status of a payment, they can look up the detail within moments. It will give them a complete history of the client, including the vendor, invoices and payments. They can even see if the check the vendor received has cleared the bank.
  • The Dashboard screen gives a heads up of what actions are needed, bills to pay and approve, and much more.
  • And, something I love is that you can be up and running in minutes, and if you don’t like it, you can cancel it just as fast.