We recommend batching BILL payments for BQE Core.
We recommend recording batch payments to vendors in BQE Core. This will make the bank reconciliation so easy each month!
Tip: Be sure to set up a Bill.com Money Out bank account on your Chart of Accounts. This will serve as a clearing account.
Overview: Funds are pulled from your bank account by Bill.com as a batch amount for the day's vendor payments and Bill.com generates the following journal entry:
Bill.com Money Out clearing account XX
Cash account XX
Payments are sent to vendors and individual Bill Payments are created by BILL as if the vendors were paid from the Bill.com Money Out clearing account. So, the impact on the general ledger looks like this:
Accounts Payable XX
Bill.com Money Out clearing account XX
Example:
BILL Payments report from Bill.com which shows two vendors were paid on 5/3/24:
This is the Journal Entry recorded in BQE Core by the SPRCHRGR Sync Tool for the funding of this batch of vendor bills:
And then when we navigate to BQE Core> Accounting> Payables> Vendor Bills, you'll see two individual Bill Payments are recorded in BQE Core.
