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Wouldn’t it be wonderful to have a super simple and transparent accounts payable and receivable dashboard? You could transfer and receive payments in a faster, easier way and have complete visibility of your business cash flow. Right now, you may be using a variety of methods to manage payments. You might still be making B2B payments with time-consuming paper checks. Ever wonder if there’s a solution that would eliminate late payment costs while allowing you to save valuable time? Well…there is! If you’re looking for a way to simplify your B2B payments while minimizing time and cost and maximizing cash flow, check out Melio.
What is Melio?
Melio is a super secure (and FREE) digital accounts payable & receivable solution for small businesses in the United States. Pretty much any small business looking to pay money owed to vendors and contractors can use Melio. Here are some features we think are awesome…
Access all client accounts from a single dashboard
As an accounting firm managing the books for multiple clients, a simple and straightforward bill pay solution is crucial. Melio eliminates the headache of managing several client accounts with varying bill due dates. Their intuitive accountant portal allows you to seamlessly switch between your client accounts. It also allows you to quickly scan all accounts for unpaid bills so you never miss a due date.
Flexible payment options
The flexibility that accompanies Melio is mind-blowing. Check out these options…
- Pay by credit card. Use Melio to pay any business bill with a credit card for only a 2.9% (tax-deductible!) fee. You can even pay by credit card where cards are not accepted. The upside to having the ability to pay with a credit card is that you can defer payment until your next billing cycle, and even earn credit card rewards on the payments you make.
- Quick & easy bank transfers. When delivered by a bank transfer, the payment arrives to the payee’s bank account within 3 full business days.
- Send your vendor a paper check. If you prefer that your payee receives a paper check, it’ll arrive via mail within 7 business days. The check will include all necessary information showing it is from your business, not Melio.
- Payments made on your terms. This is by far one of our favorite things about Melio. When you’re paying for a bill with Melio you can have the payment delivered on your behalf as a bank deposit or paper check. This means, for example, that even if you pay by credit card, you can elect to have the payment arrive as a paper check. Plus, you never have to worry about being late on your payments. Melio allows you to schedule exactly when the payment will be deducted from your account so you get full transparency and peace of mind.
- Vendors can choose their own payment arrival method. With Melio, you have the option to ask vendors to enter their payment details and let them decide how to get paid. How cool is that? They can opt to get paid by check or bank transfer. Total convenience for both parties.
Ability to Send AND Request payments
Not only does Melio allow you to pay your vendors, it gives you the option to request payments from your customers as well. You can even generate payment requests tied to specific invoices and track if they have been opened, scheduled, or paid.
What we love most about Melio
Melio is the epitome of convenience. Besides all of the super flexible payment options and extremely intuitive interface, your customers and vendors are not required to sign up in order to use the service. That’s unheard of!
We also love that you can add users (i.e. your clients or staff members) for no additional cost. Melio lets you set up their permissions so payments can be approved before they’re sent out. It’s a win-win situation that keeps all parties on the same page.
And did we mention that Melio is FREE?!