Learning Center

Resources on basic accounting and payment terms business owners must know.

ACCOUNTING

1099 form

Learn everything you need to know about the 1099 Form and its importance at tax time. Discover how to streamline your financial reporting with Bill.com.

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Accounting cycle

The accounting cycle is the process of recording transactions and reporting financial activity. Learn how to perform and monitor your business's transactions.

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Accounting equation

Learn how to apply the accounting equation (Assets = Liabilities + Equity) to your bookkeeping and never lose track of your finances!

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Accounting software

What does accounting software do? Discover what accounting software is, how it can streamline your business operations, and help you manage your finances.

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Accrued revenue

Learn about what accrued revenue is and why it is important to businesses. Find out how BILL's intuitive accounts receivable system helps track accrued revenue.

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Acid test ratio

Get an in-depth overview of acid test ratio, with tips on how you can use it to measure your business's financial health. Learn more with BILL.

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Aging reports

Accounts payable and accounts receivable aging reports help businesses maintain a healthy cash flow. Learn what aging reports are and how to use them.

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Amortization

Amortization can help better manage monthly debt payments while still increasing your revenue. Learn how amortization can help your business.

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Balance sheet

A balance sheet is a financial statement that provides insight into assets, liabilities, and equity of a company. Create and manage your own.

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Basic accounting principles

What exactly are accounting principles—and how can you use them to benefit your business?

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Book value

Book value is a metric used to measure a company's net value, but you first need to understand how it works and how it can affect your small business.

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Break-even analysis

Break even analysis helps businesses understand how many units they need to sell before they stop losing money.

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Break-even point

The break even point is a number you can use for everything from smarter price setting to goal creation. Find out how to calculate the break even point.

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Business bank statement

First time looking at your statements? Learn about what a business bank statement is, how to read it, and the benefits of using one to manage your finances.

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Business forecasting

Business forecasting helps companies understand what the future holds for your business. Learn forecasting methods and types to analyze data.

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Capital assets

Discover the capital asset pricing model and what capital assets are. This guide from Bill.com explores how the CAPM helps investors make informed decisions.

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Cash flow statements

Learn the importance of cash flow statements in financial reporting & how it tracks cash inflows and outflows, aiding in cash management and decision-making.

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Cash-basis accounting

Learn the ins and outs of cash basis accounting in our guide. Discover its benefits, limitations, and how it differs from accrual accounting.

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Chart of accounts

Gain a clear understanding of a chart of accounts and its importance in accounting. Learn the chart of accounts definition and see a chart of accounts example.

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Cost-benefit analysis

A cost-benefit analysis is an essential decision-making tool that helps you measure risk vs. reward for business projects.

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Days cash on hand

Decode the days cash on hand formula: Measure liquidity & resilience. Learn the formula, components, and impact. Optimize cash flow with BILL's financial tools

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Days payable outstanding (DPO)

A DPO calculation gives insights into how fast or slow a company pays off its invoices. Learn how to calculate DPO and understand what a high or low DPO means.

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Double-entry accounting

Learn the basics of double-entry accounting and why your business needs it! Find out how to streamline payroll for small businesses with BILL.

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Finance automation

Discover the power of finance automation! Learn how this technology streamlines processes, optimizes efficiency, and enhances accuracy in managing finances.

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Financial accounting

Financial accounting allows you to measure the financial well-being of your company by tracking every transaction made within your business.

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Financial reporting

Financial reporting is important not only to show your company's current financial health, but to plan for financial growth. Learn how to leverage reporting.

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Financial statements

Measuring your company’s financial health is critical to current and future business activity. Learn the importance of financial statements.

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General ledger

The general ledger is an essential journal for business owners to understand all the ins and outs (credits and debits) of their financial information.

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Generally Accepted Accounting Principles (GAAP)

Grow your sales and stock evaluation by automating financial reporting based on generally accepted accounting principles.

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Income statement

Income statements are essential to understanding if your company is performing well and gives you a glimpse of your company’s profitability.

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Net worth

Calculating your net worth can help financial clarity and make informed decisions. You can calculate net worth and improve financial management with BILL.

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Netting

What does netting mean? Discover the power of payment netting in finance with our comprehensive guide.

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Payroll tax

Learn what you need to know about payroll taxes for your business including how to calculate them. Stay compliant and save time with our comprehensive guide.

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Profit and loss statements (P&L)

A profit and loss (P&L) statement details the revenue, expenses, and costs from a specific time period in order to show net profits.

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Retained earnings

What are retained earnings & where do they fit on a balance sheet? Learn what retained earnings are, and how to report them.

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Retained earnings formula

Learn how to calculate retained earnings using the retained earnings formula to ensure your business is on track.

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Small business payroll

Master payroll fundamentals with our step-by-step guide. Set up correctly, save money, avoid costly mistakes. Get excited about it with BILL.

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Tax and accounting

How to you do your business taxes? What are the basic principles of accounting?Learn about tax compliance and more with tips from BILL.

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Trial balance

What is a trial balance? Learn more about how this internal report can improve the accuracy of your financial statements for your business.

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Value-added tax

What is value added tax (VAT): Understand how it works, its advantages, refunds, and efficient management in BILL’s ultimate VAT guide.

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Virtual bookkeeping

Virtual bookkeeping refers to digital bookkeeping services that perform financial operations for businesses. These services will interface with you virtually.

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ACCOUNTS PAYABLE

Accounts payable

Managing accounts payable can represent a headache for small business owners. BILL can help you understand the AP process, and how to manage outgoing payments.

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Accounts payable formula

Discover the process of calculating accounts payable. Learn the AP formula, and dive into three additional critical accounts payable formulas for optimizing the financial health of your business.

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Accounts payable internal controls

Your accounts payable process could be costing you money. With accounts payable internal controls, you get more security and potential efficiency.

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Accounts payable journal entry

Understand the essentials of accounts payable journal entries for credit purchases. Learn the basics with practical examples.

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Accounts payable ledger

An accounts payable ledger could make managing your accounts payable easier. We cover what it is and how to use it in your business.

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Accounts payable policy

Creating an accounts payable policy for the first time? Or worried that your current policy is missing some important pieces? Learn how to build an effective AP policy.

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Accounts payable process

The full cycle accounts payable process is the complete cycle that an accounts payable department goes through to complete a purchase. Learn the AP procedures!

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Accounts payable turnover

Accounts payable turnover is a metric that compares the payments you made on your accounts payable (AP) to your average AP balance.

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Accounts payable vs trade payable

There's an important distinction between accounts payable and trade payable. Knowing the difference helps you master your finances and optimize operations.

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Accounts payable vs. accounts receivable

All business owners should know the difference between accounts payable and accounts receivable. Find out everything you should know about AP vs. AR.

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Accounts payable workflow

Discover effective business finance planning in this guide on the accounts payable workflow process from BILL. Try our AP/AR system for your business today!

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Automated invoice processing

Automated invoice processing uses digital systems to simplify the manual work that goes into paying invoices–essentially putting this task on autopilot.

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Four-way matching

Is 4-way matching the right process for your accounts payable team? Find out what it is and when to use it (or not).

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Invoice approval

Learn what an invoice approval process actually is and why it's valuable before diving into a 5-step process for signing off on invoices and approving payment.

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Invoice audit

The invoice audit process helps businesses prevent billing fraud and avoid overpayment in just a few steps.

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Invoice data capture

Invoice capture is the first step in processing invoices. Here's how to speed up the process with automation.

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Invoice management

Invoice management is the process of overseeing and organizing invoices, ensuring precise billing and payment processing.

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Invoice payment

Paying invoices are a necessary part of business, but they don’t have to be a pain. Learn what they are and how to make them a breeze.

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Invoice payment methods

Your invoice payment method impacts cash flow more than you might think. Learn how and how to choose the best option for your business.

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Invoice processing

Invoice processing is an integral part of your business’s accounting process, so what is it, how does it work, and why automated invoice processing is better.

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Invoice reconciliation

Follow these simple steps to create an effective invoice reconciliation process for your business.

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Invoice scanning

Invoice scanning is the process of converting paper invoices into digital formats.

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Invoice validation

Invoice validation involves confirming the legitimacy and accuracy of received bills related to goods or services.

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Manage vendor relationships

While all vendors are different, follow these vendor relationship management tips to get started on the right path to building better business relationships.

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Notes payable

Notes payable is a liability account where borrowers record their written promises (promissory note) to repay lenders. See an example of notes payable.

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OCR invoice processing

Learn about what optical character recognition (OCR) technology is and how it can help your accounts payable team automate its invoice processing workflow.

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Payroll

Payroll describes the entirety of a company’s processes, reporting, and standards for paying their employees and withholding proper payroll taxes.

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Procure-to-pay (P2P) cycle

Learn everything there is to know about the procure-to-pay process from start to finish. This guide covers the steps to ensure your business runs efficiently.

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Purchase order

A purchase order (PO) is an official document that is sent from a buyer to a seller, documenting the agreement for a sale of specific products and/or services.

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Three-way matching

3-way invoice matching is a process that checks for discrepancies between invoices, purchase orders, and goods receipts before invoices are approved and paid.

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Trade payables

Explore the strategic advantages of trade payables. Enhance liquidity, improve cash flow, and stay ahead in managing debts effectively.

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Two-way matching

2-way invoice matching is an automated process that checks for discrepancies between purchase orders and invoices before invoices are approved and paid.

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Vendor invoice management

Learn about the importance of vendor invoice management and some best practices to help your company make accurate and on-time payments to suppliers.

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Vendor management

Vendor management is the process of onboarding, managing, and building relationships with vendors or suppliers.

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Vendor management lifecycle

See what the vendor management lifecycle looks like and the various stages that make up this process, from initial engagement to supplier offboarding.

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Vendor onboarding

Review the main steps of the vendor onboarding process and how you can use automation to start doing business with new suppliers more quickly and efficiently.

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Vendor scorecard

How can you ensure your vendors and suppliers are helping your business reach its goals? Learn more about vendor scorecards today.

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ACCOUNTS RECEIVABLE

Accounts receivable

Accounts receivable refers to money that your business is owed in exchange for goods or services you have provided but the customer hasn't paid for yet.

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Accounts receivable process

Find out how to create an effective accounts receivable process so you can get paid faster and more efficiently.

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Invoice

Learn all about invoices, the documents businesses use to request payment for goods or services. Find out what they include and how to best manage them.

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Invoice coding

Invoice coding is the process of embedding additional information into an invoice using a unique system of codes.

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Invoice factoring

Are you waiting for clients to pay their invoices? Here's what you need to know about invoice factoring as a short-term cash flow solution.

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Invoice financing

Unsure what invoice financing is or whether it could benefit your business? This post breaks down everything you need to know about this cash flow solution.

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Net 30

The term "net 30" describes the deadline for payment of an invoice—in this case, 30 calendar days. Learn to understand discount terms like 2/10 net 30.

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Net terms

What are net terms and how they work? Read our guide to learn everything you need to know about Net 15, 30, 60, and 90 payments.

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Order-to-cash (O2C) process

Learn how the O2C process can help small business owners create a more streamlined customer experience from point of purchase to payment processing.

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Pro forma invoice

What is a pro forma invoice and how is it different from a sales invoice? Learn more about the definition and use cases of a pro forma invoice here!

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BUDGETING

Activity-based budgeting

Activity based budgeting can help your business accomplish its short-term goals by assigning costs to activities which lead to success.

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Budget management

Need to manage your business finances? Use these budget management strategies to build a strong financial plan and a more profitable business.

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Budget surplus

A budget surplus occurs when you spend less money than you take in. Learn how budget surpluses affect business and how to manage the funds.

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Business budgeting methods

Choosing a business budgeting method is complicated! Read on to learn more about these five ways to plan your business budget and find the best option for you.

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Cash flow

Cash flow is one of the most important financial metrics business owners track. Find out what cash flow is and how to prepare a cash flow statement.

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Cash flow budgeting

A cash flow budget ensures your business will have enough money from week to week as it only focuses on cash payments and money available.

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Cost control

Discover how small business owners can control their costs and ensure cash flow remains positive with cost management strategies from BILL.

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Incremental budgeting

Learn about how incremental budgeting can help your business plan for the future by looking at the past. Manage your incremental budget now.

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Types of business budgets

Automate business budgets to track spending habits, cash flows and sales performances to reduce costs and build better financial frameworks.

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Value proposition budgeting

Value proposition budgeting involves identifying the business's key value drivers & funding the initiatives that create said value.

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Zero-based budgeting

The zero based budgeting process is relatively new. Learn about the pros and cons of ZBB and how to implement a zero based budgeting methodology with BILL.

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BUSINESS BASICS

Business finance software

Automating the financial planning process enables business owners to gain better control over their finances and reduce human error.

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Business model

A business model defines what the business sells and its plan for generating revenue. Learn more about different business models and how to create your own.

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Enterprise resource planning (ERP)

Enterprise resource planning (ERP) is a broad term that refers to specific electronic systems that a business uses to manage its day-to-day activities.

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Operational efficiency

Operational efficiency is an accounting metric that compares profits to operational costs. Learn how to measure and improve your operational efficiency.

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Requisition number

Requisition numbers are unique identifiers that allow every requisition to be tracked. Learn about the multiple types of requisitions with BILL.

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Risk management plan

Create a comprehensive risk management plan to stay one step ahead of unexpected events that could harm your business, and unlock the potential for success.

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Supplier onboarding

Find the answer to "What is Supplier Onboarding?" with help from BILL. In this article, we define supplier onboarding, how to onboard a new supplier, & more.

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CAPITAL

Business capital

Business capital helps indicate the overall strength of your company. Learn how businesses use capital for short-term and long-term success.

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Business funding

Funding is a common tool that businesses use to grow and improve. Learn about the types of business funding and how they can help your business.

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Business grants

If you're looking for ways to take advantage of grant funding programs, here's what you need to know about applying for business grants.

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Business loans

Business loans offer companies business capital to grow their organization. Learn about the different kinds of loans and how to apply.

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Crowdfunding

Are you considering crowdfunding to help fund a business venture? Find out how crowdfunding works and what you need to start a successful campaign.

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Liquidity ratio

A liquidity ratio measures your ability to cover existing debts. Here's how to calculate the liquidity ratio for your business.

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ROI formula

Understand how the Return on Investment formula works and learn how it can help you make smarter business investments (with less risk!).

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Revolving credit

Revolving credit is an open line of credit you can use whenever you need it. Learn how it works and the impact it has on businesses.

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Solvency ratio

A solvency ratio helps businesses estimate how long their business can survive. You can measure solvency in many ways. Learn about solvency ratios with BILL.

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Types of investments for SMBs

Businesses can use investments to gain funding and to grow their existing capital. BILL will discuss both sides of investments.

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Working capital

Every business goes through highs and lows, but what matters is if you're prepared. Learn about what working capital is and how it can affect your business.

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PAYMENTS

ACH check

ACH (Automated Clearing House) checks are essentially electronic checks (sometimes called e-checks), or paperless checks.

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ACH credit

You may have sent or received an ACH credit without knowing it. Using it in your business gives you a payment option with bank-grade security.

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ACH debit

What is ACH debit? ACH debits are electronic payments made through the ACH network, or Automated Clearing House network.

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ACH payment

An ACH payment is a payment sent via the Automated Clearing House network, an electronic network used to send paperless payments between bank accounts in the US.

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ACH processing

Learn about ACH processing, the different types of ACH payments, and how ACH processing is a safe, fast, and cost-effective way to pay and get paid.

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ACH transfer vs wire transfer

ACH transfers and wire transfers send money directly from one bank account to another. But they differ in ways that make them best for different situations.

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ACH transfers

An ACH transfer is a specific category of electronic funds transfer. There are two types: ACH debit and ACH credit.

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ACH withdrawal

ACH withdrawal is an electronic transaction made through the ACH network for recurring payments between bank accounts. Read for more about ACH withdrawal time.

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Account number

A bank account number is a string of number s that’s designed to identify an individual bank account and its owner. Learn more with BILL.

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American Bankers Association (ABA)

The American Bankers Association (ABA) is a trade association for U.S. banks. It serves as a foundation for everything that’s going on in the banking space.

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B2B payments

B2B payments are a classification of transactions between two business entities rather than a business and a consumer (or two private individuals).

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BIC/SWIFT code

Do you need to send or receive payments internationally? If so, you'll need to know how to find your BIC/SWIFT code. Read our guide to find your code.

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Bank draft

What is a bank draft? Discover how bank drafts differ from other payment methods. Learn how to make and accept this secure form of payment.

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Bank identification number (BIN)

BIN numbers allow merchants to evaluate and assess payment card transactions. Here's how BINs work and how they impact your business.

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Bank ratings

Bank ratings are assigned to inform the public about a financial institution's stability and security. Know your bank's rating before banking with them.

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Bank transit number

Learn what a bank transit number is & how to identify one. Discover the difference between a bank transit number vs routing number in this article from BILL.

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Billing cycle

A billing cycle refers to a period from the end of one billing statement date to the next. Learn more on how you can use them to your company's advantage.

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Business banking services

Choosing a bank for small business has many benefits. Learn more about sorting and organizing business finances with business banking services and BILL today!

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Clearing House Interbank Payments System (CHIPS)

CHIPS payments offer a convenient way to transfer large sums of money. Here's how CHIPS payments works, and how they compare to other methods.

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Days sales outstanding

Learn the meaning of days sales outstanding and how you can use this crucial liquidity metric to keep your small business afloat with BILL.

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Digital wallet

What is a digital wallet and how does it work? Learn how consumers use digital wallets, the different types, and how your business can benefit from them.

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Duplicate payments

Find out how to improve your business processes and use accounts payable automation software to avoid duplicate payments to your vendors and suppliers.

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EDI payment

EDI, or electronic data interchange, is often confused with ACH and EFT. Find out what EDI payments are and how they differ from other types of payments.

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EFT payment

An electronic funds transfer (EFT) is a secure and convenient way to electronically transfer money from one bank account to another. Learn more with BILL.

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Electronic billing

What is an e-Bill? Learn about electronic billing (e-Billing) a modern method of generating and sending invoices online. Discover the benefits and how it works.

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FDIC (Federal Deposit Insurance Corporation)

In this article, we dive into FDIC insurance — what it is, what’s covered, and what you need to know about the FDIC and deposit risk as a business owner.

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Financial institutions

Unsure of what financial institution is best for your business? This article breaks down the different types of institutions and what services they offer.

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Intermediary bank

Learn what an intermediary bank is & what an intermediary bank is used for in this article, where we provide in-depth info about financial institutions.

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International bank account number (IBAN)

An international bank account number (IBAN) identifies an international or overseas bank account according to a standardized international numbering system.

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International wire transfer

An international wire transfer moves money from a sender in one country to a receiver in another. Learn a cost-effective option to make international payments.

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MICR number

Find out what a MICR number is & why it's important in our banking system even today. Learn about what a MICR number does & more with this article from BILL.

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Merchant category codes (MCC)

As a business owner, you should know what your merchant category code is and how it impacts your business. Find out what an MCC code is.

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OFAC

Discover what does OFAC stand for and what does OFAC do for economic and trade sanctions. Learn about OFAC licenses, compliance requirements, and reporting of potential violations.

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Online bill pay

Online bill pay services are offered by a range of financial institutions and businesses to help customers pay bills online easier and more efficiently.

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Payment automation

Why is payment automation important? Benefits of payment automation includes streamlined payment processes, reduced errors, and saved time and money. Read more.

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Payment facilitator (PayFac)

What is a PayFac? A payment facilitator enables you to accept a variety of non-cash payments. Here's how it works and what features to look for.

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Payment gateways

Discover the magic of payment gateways. Make your business thrive with easy and secure online transactions and best practices.

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Payment management software

Payment management software is any software designed to support a business in the process of payment management.

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Payment rails

What are payment rails, and how do they work? Learn more about the infrastructure that enables non-cash payments.

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Positive pay

Learn how to protect your business finances with Positive Pay. Verify every check against pre-approved payments to prevent fraud and gain control over payments.

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Promissory note

What is a promissory note? Explore promissory note types and examples; and learn more about these documents and how they govern the lending process.

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Prorated

Prorating can help you charge a fair, flexible price. But what does prorated mean, and how does it impact your customer base?

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Purchase requisition

A purchase requisition is a formal, internal request to purchase a good or service. Learn the purchase requisition process and why it's important to have.

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Real time payments

Unlock the future of instant transactions with Real Time Payments. Learn how to cut your transaction times down to minutes with BILL and the RTP Network.

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Remittance advice

Sending remittance advice to give information about your payment is an accounting best practice and courtesy to your suppliers and vendors.

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Routing number

What is a routing number? It's a 9-digit code used in the US banking system. Learn how routing numbers work and why they're important for financial transactions

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SWIFT payments

Explore the world of SWIFT payments - the global standard for secure and reliable cross-border transactions. Learn how it works and its benefits now.

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Virtual card

A virtual credit card (also known as a virtual card) is a temporary digital card number that is used for online transactions.

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eCheck

What is an eCheck, how to send one, and what are the benefits of using this payment method compared to paying with paper checks? Find out more here.

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SECURITY

Nacha

Nacha is the organization that regulates ACH bank payments to make them safer, faster, and more reliable for businesses and individuals in the U.S.A.

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Phishing

Phishing is a common type of cyber attack that can put your personal and financial data at risk. Here's how to avoid it.

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Smishing

Learn about smishing, its potential harms to businesses and individuals, and how to avoid it.

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Vishing

Vishing is a common & dangerous cyberattack that can harm businesses and individuals. Here's how to avoid it and keep your data safe.

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SPEND MANAGEMENT

Bank reconciliation statement

A bank reconciliation statement is a financial tool that helps businesses ensure that their records match the transactions in their bank accounts. See examples.

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Business travel expenses

Travel is a big burden to your bottom line. Learn how to manage your business travel budget and save money with our corporate travel management tips.

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Expense management

Control business spending by putting the right policies and procedures in place through an expense management system. Learn more!

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Expense reporting

Discover what an expense report is, its purpose, and how to create and submit one. Read on for a comprehensive overview of expense reporting.

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Expense tracking

Expense tracking is the process used to record everything your business spends money on reporting receipts, credit card statements and more.

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Overhead costs vs. operating expenses

What’s the difference between overhead costs and operating expenses? We've defined the difference with common examples for business owners.

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Reimbursements

The expense reimbursement process allows employers to pay back their employees who have spent their own money on business-related expenses.

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Spend analysis

Spend analysis, or procurement spend analysis, refers to the process of collecting, organizing, and analyzing your company's spend data.

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Variable expense ratio

Net sales generally go to three places: covering your variable costs, covering your fixed costs, and your profit. Learn how to calculate variable expense ratio.

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TAXES

Employer identification number (EIN)

An employer identification number (EIN) is a unique number that the IRS associates with your business. Learn how to apply for one and how to look up an EIN.

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