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Vendor Payments through Bank of America

Bank of America is using a service called ViewPost to send vendor payments. It seems a little like bill.com but less expensive. Has anyone had experience using this feature? I don't want to cause my vendors any headaches as it requires them to create an account and enter their banking information. I checked and this is not listed in the app section of QBO, but they can connect to your QBO and send the information to QBO. 

2 Comments
ProAdvisor

Re: Vendor Payments through Bank of America

It looks like they only sync payments to qbo.  It is more of a desktop app.  It also looks like if you are paying the vendor, the vendor will be paid electronically (if they are on their system) or paid by check.  Each costs a fee to you.   50cents for electronic payment and 75 cents for a check.  You can sign up to be notified when they add more features to qbo.   And there is no monthly fee, so it is less than bill.com, however, bill.com fees should be going down a bit (I agree with you--too costly and I have not had one client sign up for it because of that).  Bill.com will be integrating to qbo just like tsheets just did.  They will be a part of the program itself.  So when you "pay" a vendor, it will pay the vendor for you.   Saving time and quite a few steps.  I am holding my breath on what the cost for that will be and if it will be worth it.

 

Thanks for sharing.  I was not aware this existed and I am a Bank of America customer.    :)

Established Community Backer ***

Re: Vendor Payments through Bank of America

Thank you for explaining this so well, @lynda

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