NOTE: This is an excerpt from Intuit's "In The Know" Webinar Series that covers new and upcoming features in QuickBooks Online. You can register for the series here.
Introducing Carla Caldwell
In the August 2024 "In The Know" webinar, Intuit welcomed Carla Caldwell, a renowned firm leader, ProAdvisor, and trainer, to dive deep into QuickBooks Bill Pay. Although their webinars usually feature Intuit product leaders, requests from their audience for more detailed insights prompted them to bring Carla onboard. With her vast experience, she shared how she integrates QuickBooks Bill Pay into her practice.
Getting Started with QuickBooks Bill Pay
Setting up QuickBooks Bill Pay is as easy as setting up QuickBooks Payments. Users need to apply for activation, and then they can schedule payments directly within the app. Carla walked through the simple steps of selecting the bank, the vendor, and the payment method.
Subscription Plans and Split Billing
Carla explained the three subscription levels for QuickBooks Bill Pay: Basic, Premium, and Elite. Each plan offers different features, including the number of free ACH transactions and processing of 1099s. One notable feature is split billing, which allows firms to manage client subscriptions without shouldering additional costs. More Information is on this blog article
Role-Based Permissions
A critical aspect of QuickBooks Bill Pay is its role-based permissions, enhancing security and efficiency. Carla outlined the roles:
- Bill Clerk: Manages vendors and adds bills but cannot initiate payments.
- Bill Approver: Approves bills to be paid.
- Bill Payer: Initiates payments.
These roles ensure a secure and streamlined workflow.
Scheduling and Tracking Payments
QuickBooks Bill Pay allows for advanced scheduling of payments. Payments can be set up weeks in advance, ensuring no deadlines are missed. The system connects to bank accounts and verifies payment details, offering options to add memos and notify vendors. Carla also highlighted the feature where vendors can securely enter their payment information for ACH transactions. Scheduled payments can be tracked and reviewed in the Bills tab of QBO, with the option to cancel if needed.
New Updates Easier Signup and Limit Increases (April 2025)
Accountants spoke, and Intuit listened. Addressing feedback from their top partners, Intuit QuickBooks recently introduced updates to QuickBooks Bill Pay that simplify the process of adding clients and requesting processing limit increases. These enhancements aim to make it easier for accountants to manage their clients’ payment workflows while ensuring they have the right tools to meet their business needs.
Simplified Client Enrollment in Bill Pay
With the latest updates, accountants can now seamlessly enroll their clients in QuickBooks Online and add a Bill Pay subscription directly within the Add Client experience. This streamlined process eliminates unnecessary steps, allowing accountants to focus on helping their clients manage payments efficiently.
Requesting Processing Limit Increases Made Easy
Intuit has also introduced a new feature that allows accountants to request processing limit increases for their clients directly within QuickBooks. This update ensures that clients have the appropriate Bill Pay limits to cover their monthly bills without interruptions.
To request a new processing limit, accountants simply need to:
- Go to Settings > Expenses > Bill Pay and select “Request a New Limit.”
- Ensure they are designated as a Primary Admin or Company Admin to submit the request.
Best Practices for Requesting Limit Increases
Intuit recommends the following steps to ensure an accurate and timely limit adjustment:
- Maintain Accurate Client Information: Ensure all client details in QuickBooks Online are complete, up-to-date, and precise. This helps QuickBooks generate an accurate risk profile, which plays a role in determining processing limits.
- Connect Bank Accounts: Link the client’s bank account to QuickBooks Online through the Bank Transaction tab. This provides Intuit with a clearer picture of the client’s payment activity, ensuring accurate transaction processing.
- Request Based on Needs: When requesting a new limit, accountants should calculate the total amount needed to cover all client bills over a 30-day period.
Once the request is submitted, Intuit will review the information provided. In some cases, additional documentation, such as bank statements, may be required. If approved, the new limit will be communicated to the Primary and Company Admins via email within two business days.
Exploring Alternatives
While QuickBooks Bill Pay offers a robust solution for managing payments within the QuickBooks ecosystem, it's essential to consider other options that might better suit specific business needs. Platforms like Corpay One provide a comprehensive approach to managing expenses with seamless payment processes. Melio offers flexibility by allowing businesses to pay vendors with credit cards, even when vendors don't accept them directly. Relay Pro stands out with its detailed financial insights and banking platform that streamlines payments. For creative entrepreneurs, MakersHub offers tailored tools to manage invoices and payments effortlessly. Each of these alternatives brings unique features to the table, allowing businesses to choose a solution that aligns with their operational requirements. You can see a side by side comparison here
Conclusion
Carla Caldwell’s insights during the "In The Know" webinar provided invaluable guidance for accountants and firms looking to leverage QuickBooks Bill Pay. From setup and flexible subscription plans to role-based permissions and detailed tracking, QuickBooks Bill Pay enhances financial management capabilities within QuickBooks Online.
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