Our firm has turned to three tools—BILL (formerly Bill.com), Divvy, and Rippling—to add more stability for our clients and organization in our workflow. Each tool cuts down on the back-and-forth with clients and stabilizes the confirmation process for cash outflow in our client's organizations. Each tool provides something different, with the goal of gaining more efficiency in recurring workflows, but each emphasizes approval and resource allocation levels.
BILL is a cloud-based software that helps automate accounting workflows, making the process faster, more efficient, and less prone to errors. Here are some ways using BILL can help you improve your accounting workflow:
Streamlined Accounts Payable (AP) Process
BILL is a central platform for managing your AP process. You can receive and manage bills from vendors, set up automatic approval workflows, and schedule payments. By streamlining your AP process, you can reduce manual data entry and the chance of errors.
BILL allows you to collaborate with your team and vendors in real time, making communicating about invoices, purchase orders, and payments more manageable. This eliminates the need for emails, phone calls, or paper-based processes, saving you time and increasing accuracy.
Enhanced Payment Options
BILL supports various payment methods, including ACH, wire transfers, and virtual credit cards. This gives you more options to pay your vendors quickly and securely while reducing paper checks and processing fees.
BILL provides you with a digital record of all your AP transactions, making tracking payments, approvals, and audit trails easy. This improves your record-keeping process, making generating reports easier and complying with regulatory requirements.
By leveraging BILL, you can streamline your accounting workflow, save time, and reduce the chance of errors. Additionally, BILL offers various pricing plans that fit your business needs and size.
Divvy is a financial management platform that can help you improve your accounting workflow in several ways:
Centralized Expense Management
Divvy is a centralized platform for managing business expenses. With Divvy, you can easily track employee spending, review and approve expenses, and categorize them according to your accounting needs. This streamlines your expense management process, saving you time and reducing the risk of errors.
Real-Time Budget Tracking
Divvy offers real-time budget tracking, allowing you to monitor your expenses and stay within your budget. You can set up alerts for overspending and view your budget status in real time. This helps you make informed decisions about your spending and improves your financial planning process.
Automated Expense Reporting
Divvy automates your expense reporting process, eliminating the need for manual data entry. With Divvy, you can easily capture receipts, categorize expenses, and generate expense reports with just a few clicks. This saves you time and reduces the chance of errors.
Secure Payment Method
Divvy provides a secure payment method, allowing you to make purchases with virtual cards tied to specific budgets and limits. This reduces the risk of fraud and unauthorized spending and provides better control over your business expenses.
By using Divvy, you can streamline your accounting workflow, reduce the risk of errors, and improve your financial planning and reporting processes.
Rippling is a human resources and payroll management platform that can help you improve your accounting workflow in several ways:
Streamlined Onboarding Process
Rippling provides a centralized platform for managing your employee onboarding process, allowing you to collect and manage employee data, set up payroll, and enroll employees in benefits. This streamlines your onboarding process, saving you time and reducing the risk of errors.
Automated Payroll Processing
Rippling automates your payroll processing, eliminating the need for manual data entry. With Rippling, you can easily manage employee pay, deductions, and taxes and generate payroll reports with just a few clicks. This saves you time and reduces the chance of errors.
Secure Payment Method
Rippling offers a secure payment method, allowing you to pay your employees via direct deposit or check. This reduces the risk of fraud and unauthorized access to employee information.
Time and Attendance Tracking
Rippling allows you to track employee time and attendance, making it easy to manage and approve employee hours and automate payroll processing.
By using Rippling, you can streamline your accounting workflow, reduce the risk of errors, and improve your payroll processing and reporting processes.
Seamless Accounting Integration
Each of these apps offers seamless integrations with QuickBooks! This allows you to automatically sync your bills, bill payments, expenses, and payroll data between the two platforms, eliminating the need for manual data entry and improving accuracy.
Some of these tools are easier to implement than others and require consideration of each client's immediate needs before implementation. Understanding how the tools can help improve communication is one of the most critical steps to consider! Centralizing the information of these vital areas of your client's business is essential to their success. Providing your clients with details about their cash outflow will help them make better organizational decisions. It will also give you peace of mind about their processes and the accuracy of the financial information you are working so hard to provide!
*This blog post is a paid partnership with QuickBooks Online.