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Join nowHello there,
I currently record all vendor invoices that I receive. Payments are through separate bank transfers outside QuickBooks Online which is later allocated to the vendor ledger.
I would like the vendors to be paid through QuickBooks Online. For this purpose, would like to know :
1. Cheque payment - how does this work? Is this electronic cheque sent directly to the vendor bank account or someone has to physically collect the cheque from our office?
2. Bank transfers - how do I set them up for each vendor? Does the funds get processed immediately?
3. What are the charges for 1 & 2 above
Regards
SN
Solved! Go to Solution.
@savita-clearnexu wrote:What is in for Melio if there are no transaction fees? Do we have to link our bank accounts to Melio?
They offer the option to pay your business bills via credit card at a low, tax-deductible fee of 2.9%. This is how they generate their revenue.
https://melio.grsm.io/quickbooks
Hello there, @savita-clearnexu.
In QuickBooks Online (QBO), you can pay your bills directly and hassle-free using Online Bill Pay (powered by Bill.com). Let me share more details with you about this.
When you use Online Bill Pay, you can:
If you use a check as payment, you'll write a check and print it. Then, have it collected from your office.
If you pay using bank transfers, it electronically transfers the money (ACH), the same as the ones used to direct deposit a paycheck.
As for the charges, there will be a transaction fee for each payment you process.
To know more about how you can pay bills in QBO, see the below articles:
If you have follow-up questions, just leave a message in the comment section. Have a good one!
Another option, open Melio account for free to pay your bills and integrate it with your QBO account. You don't pay any processing fee unless you pay the bill by credit card. Melio will mail a check or complete a bank transfer to your vendor on your behalf.
What is in for Melio if there are no transaction fees? Do we have to link our bank accounts to Melio?
Thanks ,
SN
Would like to know what would be the charges for processing vendor payments via QBO?
Regards
sn
@savita-clearnexu wrote:What is in for Melio if there are no transaction fees? Do we have to link our bank accounts to Melio?
They offer the option to pay your business bills via credit card at a low, tax-deductible fee of 2.9%. This is how they generate their revenue.
https://melio.grsm.io/quickbooks
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