Ceterus Bill Pay is a service available for you as an add-on to help manage your bills using Bill.com. Through this service, our Bill.com Manager will work with you each week to ensure checks and payments are processed for each invoice you send.
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Why Ceterus Bill Pay
As an entrepreneur, your time is valuable, so writing checks and managing bills isn’t where you want to spend your energy. Ceterus Bill Pay can take this off your plate. We utilize Bill.com and can process and pay all of your incoming invoices and bills, including payment tracking to ensure on-time payment.
Bill.com pricing is $200/month.
- Combined Payments: If you pay multiple bills to the same vendor with the same Process Date, they will be combined into one payment when the transaction hits.
- Additional Users: Only one user is included in your Bill.com package.
Bill Pay Set Up Process
The set up process for Bill.com additions highlights a few things.
To begin, we create a dedicated Bill.com inbox for your location and walk you through the system.
During the account setup, we provide you with an email address (for example, email@example.com) linked with your account.
You may have only one Bill.com User.
If you designate two approvers, both users must approve every single bill.
Be sure to CC your Bill.com inbox on the email
- Vendor Name
- Vendor Address
- Dollar amount of the bill
- Note on what the bill is for
- Due Date
- Length of time for payments (ongoing, January through May, etc)
Weekly Bill.com Process
Ceterus follows a strict weekly process to ensure bills are paid on time. This will also require assistance on your end to make sure we are working together to process, approve, and submit payments each week.
You can also request that your vendors forward invoices directly to the inbox.
Any invoices added after Monday evening will not be processed by Ceterus the following day and instead will be included the following Tuesday.
Our Bill.com Manager will be the first approver to ensure there are no errors.
We recommend that you set aside time every Wednesday to approve bills, as they must be approved by each Wednesday for us to process payments on Thursday mornings.
On Wednesdays, you will need to follow the below steps:
- Log into Bill.com
- Review and approve the pending bills
- If a bill is not correct, you must deny the bill and leave a comment letting us know what needs corrected
- Approval of a bill confirms that you have checked there are sufficient cash flow in the account used and therefore confirm we can proceed with payment.
We will only pay a bill once it has been approved. Any bills pending approval will not be submitted.
If a bill has not been approved in time for payment to be made Thursday morning, the payment will be initiated the following Thursday.
- ePayments will take 2-3 business days to clear the vendor's account. ePayments over $5,000 will take longer to clear.
- Checks typically take 3-5 business days to arrive at the vendor address
The Do's and Don'ts of Invoice Processing
|Do: Send invoices directly to your bill.com inbox for payment||Do Not: Send invoices to Ceterus Support or your Financial Consultant|
The exception is if the bill does not have an invoice. In this case, you must email Ceterus Support directly and copy your bill.com inbox email address on the email.
|Do: Understand Ceterus will create the bill for the full amount due on the invoice unless otherwise noted||Do Not: Expect Ceterus to pay a different amount without your input|
If a different payment amount is necessary, make a note on the invoice that a different amount should be paid OR send an email to your bill.com inbox with the invoice and copy Ceterus Support.
In these instances, you must provide the exact amount that you would like to be paid. If this information is not included, our Support team will continue to ask until received.
|Do: Know that Ceterus will process bills using the due date on the invoice unless stated otherwise||Do Not: Assume Ceterus will deviate from this due date without you letting us know|
If there is not a due date, we will use the invoice/statement date and set it as "Due Upon Receipt"
|Do: Upload invoices that should only be paid to Bill.com||Do Not: Upload anything that should not be paid|
We will not store documents, receipts, or messages in the Bill.com inbox. These types of uploads will be deleted and removed.
|Do: Understand we cannot always split bills between stores or bill.com accounts||Do Not: Assume we can always split these|
In fact, Ceterus cannot split bills between stores or bill.com accounts unless all of the following occur:
- The invoice is uploaded to the inbox you want it paid out of
- The amounts to be paid by location are noted within each email sent with the invoice
- Ceterus Support is copied on the email sent with the invoice
|Do: Recognize we will attempt to connect all vendors to be paid via ePayment||Do Not: Assume we will always be successful in attempting to make these ePayments|
Ceterus will attempt to connect all vendors to be paid via ePayment. If this is unsuccessful, payments will automatically be sent via check in the mail. In order to pay vendors via ePayment, vendors must:
- Either have or create a bill.com account
- Accept our email invitation to connect
- Input their bank information in order to receive ePayments
|Do: Provide the vendor's contact information if the vendor has questions about a Bill.com payment||Do Not: Feel you need to be the "middle man" between vendor communication and Ceterus on Bill.com payments|
If a vendor has questions regarding payment that we have issued via Bill.com, we will communicate with the vendor to attempt to resolve the issue if you put us in contact with them. If there are general questions regarding your account from either you or the vendor, you will need to communicate with the vendor directly.
Invoice Approval and Payment Terms
|By approving a bill, you are confirming that sufficient cash flow is available||If you need us to issue a stop payment, you will be charged $35 per invoice|
|If an approved payment is being sent via ePayment funds will still withdraw the next business day and will reach the vendor's account in 2-3 business days||
Payments scheduled before 5pm EST will be sent the following business day. Any scheduled after 5pm will be sent in two business days
|Funds will withdraw approximately one week prior to the approved bill's due date.|
If you need Ceterus to rush a payment, it must be scheduled by 2pm EST to process the next banking day. An additional fee will be charged to your account.
To request fast pay, you must send an email request to your Bill.com inbox and copy Ceterus Support.
If Ceterus is not copied, we cannot guarantee the payment will be rushed.
Additionally, Fast Pay issued on a Friday will be delivered the next available business day.
Fast Pay Delivery Fees
|Overnight Check Delivery||$24.99||Same Day Processing with next business day deposit||$14.99|
|Two-Day Check Delivery||$19.99|
|Three-Day Check Delivery||$14.99|