SumIt Software

SumIt mirrors BILL in two steps, the same way you'd think about it on paper: When a bill is approved in BILL, SumIt books the invoice: debit the expense (or whatever GL account it's coded to), credit Accounts Payable. The payable shows as unpaid. When you pay it in BILL, SumIt books the payment: debit AP, credit cash, and marks the payable paid. Example: A $4,000 legal invoice comes over from BILL → SumIt records DR Legal Expense / CR AP, unpaid. Two days later, you pay it in BILL → SumIt records DR AP / CR Cash, paid. You never opened SumIt to make either entry. That's the "no rework."

Each BILL connection is set up with a designated inter-entity (due-to/due-from) account pair. Whenever the entity that pays a bill isn't the entity that owns the expense, SumIt automatically books the intercompany legs so both sets of books stay in balance. Example: Holdings LLC pays a $10,000 insurance bill that belongs to Property LLC. Property LLC: DR Insurance Expense / CR AP, then DR AP / CR Due to Holdings LLC. Holdings LLC: DR Due from Property LLC / CR Cash. All four entries come from the single act of paying the bill. You pick the funding account; SumIt handles the intercompany side.

A family office can connect multiple BILL accounts to the same SumIt organization. Each connection has its own login, short label, and setup, but they all feed the same general ledger. Example: One BILL account for the operating companies, a second for the household/personal entities — both flow into one SumIt GL. Bills from each land in the right entities and consolidate into one set of books, so you get the cross-entity picture without bouncing between two BILL logins or re-keying anything.

Here's how the coding actually maps. The GL account always comes from BILL's chart of accounts. On top of that, BILL's four classification fields — Accounting Class, Department, Job, and Location — can each be pointed at one of three things in SumIt: an entity, a tag, or an account code. You decide which field drives what. A couple of useful details: — Each SumIt target can be driven by only one BILL field (you can't have two fields both feeding "tag"). — The vendor carries over to the SumIt payee automatically, and if that vendor has a default tag, every line picks it up without anyone keying it. Example: A firm sets Location → entity, Department → tag, Class → account code, with the GL account coming from the chart of accounts. A single BILL line — "$1,200, Marketing, Location: Property A, Dept: Events, Class: Q2-Campaign, Vendor: Acme" — lands in SumIt as $1,200 to Marketing, in Property A's books, tagged "Events," coded to "Q2-Campaign," with the Acme vendor tag attached. One line in BILL, fully coded in SumIt.