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Bill.com Receivables Combined with Bill.com Payables is the First SaaS Solution Enabling Businesses to Manage All The Day-to-Day Activities of Managing Cash, Paying Vendors and Getting Paid

Bill.com, the leader in paperless bill management and payment for small- and medium-sized businesses (SMBs) and CPA firms, today announced that users can now send invoices, collaborate with customers and receive electronic payments through Bill.com's new beta Receivables feature. Bill.com Receivables supports a full range of accounts receivable processes through its invoice creation tool and QuickBooks integration, enabling users to manage all of their day-to-day financial operations online anywhere an internet connection is available. Receivables makes Bill.com the most comprehensive and easy-to-use option for SMBs and CPAs looking to bring efficiency to their financial management processes by providing the tools, information and collaboration required to help them better manage their businesses.

"Free dashboards literally and figuratively don't pay the bills. Today's SMBs and CPAs seek powerful tools that alleviate cumbersome financial processes, support their accounting practices and keep them focused on effectively running their businesses," said René Lacerte, CEO of Bill.com. "We're excited to add Receivables to Bill.com to bring our award-winning solution full circle, offering customers everything they need to pay and get paid."

Bill.com Receivables provides SMBs and their accountants a simple way to create invoices or sync them from QuickBooks Desktop, send invoices to their customers, send reminders and track payment status. Their customers can view existing and past invoices using a free online portal and pay directly from their bank account. Invoices can be paid directly to the issuer's bank account at $0.49 per transaction, helping Bill.com customers alleviate costly credit card merchant fees, eliminating trips to the bank to deposit checks and providing faster access to their funds. Invoiced customers can also send messages to clarify or dispute charges with the Bill.com user directly within their online portal, maintaining a complete audit trail of vendor-customer communications. Email templates and invoice platforms are customized to include the user's company logo, and all relevant banking information is retained securely on Bill.com for future use.

In addition, Receivables is integrated seamlessly with all current Bill.com features, enabling users to review cash flow in real time on the Bill.com calendar, synch with QuickBooks Desktop, and maintain a full audit trail of cash in and cash out.

"It took me a long time to come to grips with having to accept credit and debit cards and paying the high merchant fees, but Bill.com Receivables has allowed me to eliminate this expense. It's also saved me considerable time and hassle because I no longer have to fill out deposit slips and take the deposits to the bank," said Jack Witeck of Jack Witeck & Associates.

Bill.com is offered to the accounting profession exclusively though the Bill.com Accountant Program from CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA).

Pricing and Availability

Bill.com Receivables is currently available as a beta service to all Bill.com users, with general availability planned for the first half of 2011. Bill.com customers can add Receivables to their existing Bill.com account for limited time offer of only $5/Month. Receiving electronic payment from customers directly into a bank account costs $0.49 per transaction.
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About Bill.com

Bill.com is an on-demand accounts payable and beta accounts receivable application for CPAs and small and midsized businesses. Bill.com users can receive, route and pay invoices electronically — they never have to touch a paper bill again — resulting in time and cost savings to finance personnel of over 50% versus manual accounts payable and check writing processes. Invoices are emailed, scanned or faxed into the Bill.com service. Digital images of invoices are then routed electronically for approval, ensuring a complete audit trail and eliminating lost or mishandled paper. Bill.com handles check printing and mailing as well as electronic payments, and uses enterprise-class fraud protections that are impractical for small and midsized businesses to implement on their own. Bill.com integrates with popular desktop and on-demand accounting packages, ensuring consistency of financial data and streamlined financial planning, reporting and audit activities. Bill.com has received numerous awards including a 2009 Innovation Award from CPA Technology Advisor, a 4-star rating from PC Magazine, a 2010 Barlow Monarch Innovation Award for innovation in financial services, and was recently named to the Red Herring Global 100.