TAXCO BUSINESS SERVICES INC. Division of Des-Dawn Corporation BOOKKEEPING | PAYROLL | TAX FILING | TAX PLANNING | CONSULTING INTRODUCING TAXCO BILL PAY.

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Presentation transcript:

TAXCO BUSINESS SERVICES INC. Division of Des-Dawn Corporation BOOKKEEPING | PAYROLL | TAX FILING | TAX PLANNING | CONSULTING INTRODUCING TAXCO BILL PAY AND INVOICING The smarter, faster and safer way to manage bills and get paid online

The Old Way: Manual, Paper-based processes cause pain Current payables and receivables process is time consuming Worried about credit worthiness due to late payments Don't have clear visibility into cash flow Don't have time to grow revenue

The New, Paperless Way: Taxco Bill Pay Taxco Bill Pay is a cloud-based service that automates the way we work with you to streamline your bill payments, online invoicing and cash flow management.

Hidden Cost of Paper-based Management of Accounts Payable Calculate the hidden costs of your client's current accounts payable process. Enter Client's Information In The Orange Boxes Number of bills per month Time spent per bill per week (in minutes) Average hourly rate for staff processing invoice Monthly bank and check handling fees** Online document storage for bills, contracts, etc. per month $75 $121 $30 Estimated Monthly Cost $1,839 Estimated Annual Cost$22,064 **Sum of bank's check fraud protection and imaging fees and check handling fees

Taxco Bill Pay is Your Paperless Office The Perfect Solution for You and Our Firm Streamline your payables and receivables process end-to-end: Receive and pay bills online Invoice online and get paid faster Automate collections Store and share financial documents online Reconcile with bank accounts Sync with your accounting software Easily collaborate with us, your vendors, and your customers online Manage and control your cash flow Easy access to pay smarter and get paid faster Paperless Office… anywhere, anytime Access works the same no matter where you bank

5. Review all transaction s online 4. Schedule payment 3. Review & approve for payment 2. Enter bill and route for approval 1. Send bill to Bill.com The Difference is a Streamlined Workflow: Example: Accounts Payable The old workflow Our new efficient workflow New process requires 5 touches by 5+ people yet takes 1 day 8. File paperwork 7. Print, sign, and mail checks 6. Indicate bill ready to paid in cash 5. Enter bill, generate report 4. Review coding 3. Code bill 2. Review and approve bill 1.Receive, open and distribute invoice Required a minimum of 8 touches by 5+ people and took a week+ to complete

New Roles in Streamlined Payables Process Process Creates New Roles That Save 50-75% of Time Submit bills Approve bills Schedule payments Enter and code bill information You approve bills for payment and tell us when to pay. We schedule and make payments on your behalf. Sync with your accounting software

6. Payments automatically posted, reconciled and synced with software 5. Get paid online into bank account or by credit card or PayPal 3. Sent late payment reminders automatically 2. invoice with supporting docs.. 1. Create invoice or sync from software The Difference is a Streamlined Workflow Example: Accounts Receivable The old workflow The new efficient workflow – gets you paid faster! New process requires 6 touches by 5+ people yet takes 3-5 days 11. Deposit at bank 10. Enter deposit slip 9. Post payment 8. Open mail to get check 7. Call or to follow up 6. Assess late fees 5. Research files 4. Handle customer complaints 3. Call or to follow up 2. Print and mail 1. Create invoice Required a minimum of 11 touches by 5+ people and took weeks to complete

New Roles in Streamlined Receivables Process Process Automates Collections You Get Paid 4-5x Faster Create and invoices Customer pays through portal Collaborate with customers, staff and us (optional) Invoice customers and get paid faster on your own payment portal. We send automatic payment reminders and sync invoices with payments to your software. Sync with your accounting software Send/automate reminders

Why Clients Love Taxco Bill Pay Get your bills to us quickly and say goodbye to courier fees! No need to hunt for information for vendor inquiries or payment status Easily reconcile with bank account and sync with your accounting software Better control over payment timing for outstanding bills Flexibility to designate who has access to make payments Control collections process by receiving payments directly to your account Unlimited online document data storage from any computer or mobile device No more manual filing and retrieval or chasing people down for signatures Automated audit trail and transaction history of all payment activities Save time & money Work Smarter Anytime, Anywhere

How Taxco Bill Pay Works: Accounts Payable Pay Smart with an efficient, paperless Accounts Payable workflow: 1) Receive bills online 2) Get bills approved quickly 3) Schedule online payments 4) Easily sync with your accounting software

Get paid faster with a paperless Accounts Receivables process: 1) Create, send and track invoices online 2) Collaborate online with your customers 3) Get paid faster with automatic payments 4) Sync both invoice and payment activity with your accounting software How Taxco Bill Pay Works: Accounts Receivable

Value-Added Features By automating bill payment and invoicing end-to-end, Taxco Bill Pay and Invoicing can significantly boost efficiencies for you and our firm. 1.Mobile payments and invoicing 2.Unlimited document storage 3.Cash flow management to-do list 4.Know your daily balances and projected cash flows 5.More secure vendor payments 6.Get a complete view of transactions 7.Full visibility with an audit trail online 8.Vendor management streamlines daily inquiries

View/Approve bills View approve notes Make secure payments Multiple bank accounts Adjustable payment timing Value-Added Features Mobile Payments: Pay On The Go

See all outstanding and overdue invoices in a dashboard Invoices Add notes for customers and see their comments Mobile Invoicing: Invoice On The Go Value-Added Features

Store and access all bills, invoices, contracts and other financial documents. Get unlimited storage. No more hunting through dusty filing cabinets. Unlimited document storage Value-Added Features

Access all your tasks from your personalized to-do list Receive alerts for to-do list Get a Personalized To-Do List Value-Added Features

Calendar shows actual or accrued cash coming in and going out Updated book balance pulled from accounting software See future cash flow to manage payment dates and operation needs. Know Your Cash Position and Projected Cash Flows Value-Added Features

Payments to vendors are made with checks drawn on Taxco’s bank account –Applies advanced check fraud controls –Eliminates check printing and mailing –Ties payment to the transaction The check shows the invoice to be paid and the account number The bottom 2/3rd of the check voucher shows a copy of the invoice to ensure payment is applied correctly More secure vendor payments Value-Added Features

Access information anytime, anywhere, making life so much easier: Bills Contracts / Company Documents Payment confirmations & cleared check images Get a complete view of transactions Value-Added Features

The audit trail feature provides you and our firm with detailed information on “who” did “what” and “when” Permission-based user roles allow you to determine what level of access you want others to have in your company Get full visibility with complete audit trail Value-Added Features

Bills are organized by vendor so you can: Easily view outstanding bills, paid bills, all related invoices and documents and a complete payment history -- all in one screen Efficiently research vendor inquiries Vendor management streamlines daily inquiries Value-Added Features

Key Benefits of Taxco Bill Pay By automating how we work with you to manage your payables and receivables, Taxco Bill Pay makes it easy for you to pay smarter and get paid faster.

For More Information, Please Contact… The TAXCO Professionals Bellflower Office #: Lawndale Office #: