Recommended productivity apps: Melio
Welcome to another article in an ongoing series about apps and how they can increase your productivity.
Melio is third-party application that fits the need of bill pay, a worthy addition to any accounting tech stack. Melio is built into QuickBooks® Online and can easily integrate with QuickBooks Desktop. There is almost no reason to print or mail physical checks when you can give the option to the vendor to get paid via ACH, or have Melio print a physical check and send it out on your company’s behalf for no cost.
You simply send an invite to the vendor within QuickBooks, asking them which payment options they prefer. ACH takes 3 business days and snail mail takes about 7-10 days to receive. The ease of use is tremendous. The only drawback is that Melio does not do bulk payments, yet. So, if the vendor has 20 open invoices, you’ll send 20 separate payments requests. Melio also doesn’t apply vendors’ credits, so you must make the payment amount net of the credit. It is best practice to follow up and send the vendor a Bills and Applied Payments report.