Bill.com vs QuickBooks Online

Thanks to the Internet and cloud computing, it’s easier than ever for business owners to manage their company’s finances. While many solutions are available, QuickBooks Online and Bill.com are two names that many business owners are familiar with. Is one better than the other? What’s the difference between Bill.com vs QuickBooks Online?

Bill.com vs QuickBooks Online: What’s the Difference?

Some small business owners assume that Bill.com and QuickBooks Online can do the same things. While some of their features overlap and they can work together, these are two different solutions that serve different needs.

Let’s take a closer look at the difference between these two platforms.

Bill.com – A Simple Way to Manage and Pay Bills

Bill.com is a simple way to automate and organize your accounts payable. The easy-to-use platform allows you to click-and-drag invoices from email and desktop or snap photos of paper invoices for digitization. The goal is to make it easy to see which paments are coming and going at a glance.

With Bill.com, you can also create approval processes for bills, pay bills using your preferred payment methods, and more.

Bill.com integrates with QuickBooks Online and other accounting software, like Xero, Oracle NetSuite, Sage Intacct, Microsoft Dynamics and more. The integration allows for easy and automatic data integration to simplify the reconciliation process.

In a nutshell, Bill.com makes it easy and convenient to pay your company’s bills, and they also offer other solutions, like:

  • Accounts receivable management
  • ACH
  • Pay by Card
  • International payment
  • Network payment

Bill.com is focused on making and receiving payments. While it integrates with QuickBooks, it can’t replace it as an accounting solution.

The Benefits of Bill.com

  • Businesses spend 50% less time paying bills.
  • Businesses get paid faster because they can accept ACH, credit card payments and more.
  • Automation and integration reduce the risk of errors.
  • The interface is easy to use.

The Drawbacks of Bill.com

  • com’s reports lack in-depth customization
  • Customer support is limited

Bill.com does have a few drawbacks, but it’s still a solution that many business owners should consider. If your business spends a lot of time paying bills and managing invoices, then Bill.com may save you valuable time and help reduce the risk of costly human error.

QuickBooks Online – A Comprehensive Accounting Solution

QuickBooks Online is a cloud accounting solution designed to simplify the accounting process. It does more than just manage your company’s invoices. With QuickBooks, you can:

  • Track your income and expenses
  • Create invoices
  • Organize and manage your bills
  • Track your inventory
  • See which projects are making money and which ones are costing you money
  • Create 1099s for independent contractors
  • And more

QuickBooks automatically syncs with your bank and credit card accounts for easy tracking of income and expenses.

While QuickBooks can’t replace a CPA, it is a robust accounting tool that many small business owners use. In fact, the platform has more than 7 million users worldwide.

The Benefits of QuickBooks Online

  • A more advanced accounting solution for small businesses
  • Easily share reports with your accountant and export documents
  • Accept payments and send invoices quickly and easily

Overall, QuickBooks Online has more accounting-related features.

The Drawbacks QuickBooks Online

  • Monthly plans can be costly
  • There’s a learning curve

While QuickBooks Online has a higher price tag and requires some training, it’s a more comprehensive solution for small business owners who want to manage their finances.

So, to sum up:

  • com is designed to help you manage your bills. You can track invoices and pay your bills quickly and easily. They also have solutions for tracking your accounts receivable and accepting payments. Bill.com is focused solely on the payment aspects of running a business.
  • QuickBooks Online is an accounting solution. Along with managing invoices, you can also track your expenses and income and handle other financial tasks for your business. QuickBooks is a more robust solution for small business owners.

Determining the solution that is right for you is crucial to helping your business grow.

Which Solution is Right For You?

QuickBooks Online and Bill.com both have advantages, and they work better together. If your budget allows, consider using both services.

If you already have an accounting solution, Bill.com may be helpful for managing your invoices and payments.

How do QuickBooks Online and Bill.com Work Together?

Once connected, Bill.com and QuickBooks Online “talk” to each other, making it easier for you to manage your business finances and payments.

Bill.com syncs the following data from QuickBooks:

  • Accounts
  • Vendors Jobs
  • Departments
  • Customers
  • Book Balance
  • Items
  • Invoices

QuickBooks Online syncs the following data from Bill.com:

  • Bills and bill payments
  • Accounts
  • Vendors
  • Classes
  • Funds transfers
  • Vendor credits
  • Invoices and invoice payments

When using either service, you’ll be able to view important accounting data at a glance. Bill.com enhances the expenses and income tracking of QuickBooks Online, while QuickBooks Online fuels the data for Bill.com’s invoice and payment management.

The two solutions work seamlessly together to help you stay on top of your expenses, calculate your cash flow, manage your business’s finances and make smarter decisions.

QuickBooks Online and Bill.com Can’t Replace Your Accountant

Both Bill.com and QuickBooks Online are helpful solutions to help you stay on top of your company’s finances and prepare for tax season. However, they cannot replace your accountant.

An accountant can confirm your records, help keep you compliant, and provide helpful advice for your business. Automated tools are great, but it’s beneficial to have an experienced human on hand to answer your questions and guide you through complex financial decisions.

Plus, an accountant can help you set up QuickBooks Online and Bill.com to make the adoption process simple.

Are you looking for help implementing Bill.com, Quickbooks Online, or other technology into your business? Schedule a call with us today to see if we’re a good fit for you.

Levy | Lauter LLP - Tax and Accounting Firm in Los Angeles, CA

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