- Intuit announces the launch of QuickBooks Bill Pay, an integrated solution for accounts payable (AP) automation.
- The platform is designed to simplify vendor payments, improve cash flow, and provide a holistic financial solution for businesses.
- It offers features such as digitized record-keeping, electronic and paper payment options, and auto-generation of bills from vendor invoices.
Intuit Inc., the global financial technology platform behind popular tools like TurboTax and QuickBooks, has announced the launch of QuickBooks Bill Pay, a new solution integrated within the QuickBooks platform. QuickBooks Bill Pay aims to transform bill payment for businesses and provide accounts payable automation. The solution addresses the challenges faced by business owners in managing bill payments to vendors and contractors, which often involves using multiple disparate solutions.
This can lead to complexities, missed payments, and cash flow management issues. With QuickBooks Bill Pay, tracking and paying bills are seamlessly integrated within the QuickBooks platform, offering simplicity, speed, and accuracy to help businesses manage their finances more effectively. The solution also includes AP automation capabilities, reducing manual entry by 48%. QuickBooks Bill Pay offers small and mid-sized businesses various benefits, including time-saving automation, digitized record-keeping, seamless payments, advanced controls with roles and permissions, and simplified vendor and contractor management. Users can import vendor invoices into QuickBooks, which will automatically create bills. Ownership roles can be assigned to employees, enabling customization of the bill approval process.
Payments made through QuickBooks are automatically recorded and matched in the businesses’ books. Additionally, businesses can go paperless and keep digital records of bills and payments in one place. They have the flexibility to choose between electronic payments or paper checks. QuickBooks Bill Pay also enhances the Intuit QuickBooks Business Network, allowing vendors to securely save their payment details and track incoming payments. QuickBooks Bill Pay offers three pricing plans to meet the needs of businesses of any size.
The Basic plan is free and includes five free standard ACH payments per month. The Premium and Elite plans provide additional standard ACH payments, custom bill approval workflows, unlimited 1099s, and predefined roles and permissions. For a limited time, QuickBooks is offering a 50% discount on the monthly base price for the Premium or Elite plans for the first three months of service to eligible QuickBooks Online customers who are new Bill Pay customers. With the launch of QuickBooks Bill Pay, Intuit aims to revolutionize money movement within the QuickBooks platform and address the cash flow challenges faced by small businesses. The integration of bill pay and accounts payable automation capabilities provides businesses with greater visibility, simplicity, and control over their finances.