FMA works with nonprofit organizations and foundations to simplify their bill paying and invoicing processes using the latest technology. Often considered a headache and simply one of the bureaucratic costs of doing business, FMA treats this routine process as a useful measure of an organization’s Operational Excellence. Fortunately, technological innovation is making it much easier to implement a streamlined Payable and Receivable process.
We implement Bill.com as a resource to our clients who are looking to make improvements by integrating systems and automating processes to create more efficient workflows. Bill.com works in conjunction with your accounting software to streamline and automate your business bill payment, invoicing processes, and provide visibility to your cash flow. By moving your finances to the cloud, you benefit by eliminating paperwork and reducing the costs of managing your cash flow, payables and receivables.
Through Bill.com FMA provides:
• Automated invoice approval allowing you to pay your invoices from anywhere, including your mobile phone.
• Automated invoicing and collection of donations and pledges. Your invoices will be sent automatically and your donors will have the convenience of paying online via credit card, PayPal, or direct deposit.
• Simplified deposits: As payments arrive, they are deposited and updated in your accounting software
once you sync.
Bill.com can be combined with many of the other workflow tools we recommend to our clients including accounting software such as Intacct or QuickBooks, expense tracking tools like Expensify and Tallie, and virtual file storage and access services like Connectria and Citrix.
Click the image below for an interactive tutorial on bill.com: