Private and Connected Vendors with BILL

When you process Payment Assistant payments through BILL, each vendor is either private or connected to the BILL Network. This topic explains the difference, how BILL connects vendors, and what each type of vendor means for how payments are made.

Note: Don’t see this yet? The ability to use BILL with Payment Assistant is currently in an Early Adopter Program (EAP) for some of our customers. Look for full support and general availability in a future release.

Private and Connected Vendors in Payment Assistant with BILL

A private vendor isn't on the BILL Network. BILL pays a private vendor by the information you enter on the vendor record in Financial Edge NXT. A vendor with bank information is paid by ACH, and a vendor with only an address is paid by check.

A connected vendor is on the BILL Network. BILL pays a connected vendor by the bank information and payment preference that the vendor keeps in BILL. Those settings take priority over the vendor record in Financial Edge NXT, and you can't override the payment method for a single payment or for a single vendor. To manage a connected vendor yourself, disconnect the vendor so it becomes private.

Both kinds of vendors are payable as soon as they exist. You can also set up vendors early to give BILL time to match vendors and verify bank accounts before the first payment run.

Automatic Connection to the BILL Network

BILL matches your vendors against the BILL Network in the background. The vendor's name, address, and bank account carry the most weight in a match, and the email address counts for less. BILL connects a vendor only when it's confident the vendor is the same business. A match can happen later as more businesses join the BILL Network, so a vendor that is private today can become connected.

You can also invite a vendor to the BILL Network from the Payment Assistant tile on the vendor record. The vendor accepts the invitation and completes setup directly with BILL.

Uncertain or Incorrect Vendor Matches

When BILL isn't confident enough to connect a vendor, the vendor stays private and BILL pays it by the information on the vendor record. Nothing is held up.

If BILL connects a vendor to the wrong business, disconnect the vendor. The vendor returns to private, and BILL pays it by the information on the vendor record again.

What Connected Vendors Can Do in BILL

Connected vendors can sign in to a free BILL account. The vendor can find the sign-in link in every email from BILL. In the account, the vendor can manage bank information and payment preferences and view payments. Each vendor has one receiving bank account, and BILL keeps an audit trail of the changes a vendor makes. Private vendors don't have a BILL sign-in.

Sources of a Vendor's Payment Details with BILL

  • Private vendors. The payment details come from the vendor record in Financial Edge NXT. When you share EFT details, Financial Edge NXT sends the vendor's bank information to BILL.

  • Connected vendors. The payment details come from the vendor's own settings in BILL. Financial Edge NXT sends bank information only for vendors that aren't connected, so changes to bank information on the vendor record don't change how BILL pays a connected vendor.

You change a private vendor's payment method in Financial Edge NXT, and a connected vendor changes its payment method in BILL.

Two Vendors Connected to the Same BILL Network Vendor

Yes. BILL doesn't remove duplicate vendors, so two vendors in Financial Edge NXT can connect to one vendor on the BILL Network.

Connected Vendors That Leave BILL

If a connected vendor becomes inactive or closes its BILL account, the vendor returns to private. BILL then pays the vendor by check to the address on the vendor record. If the vendor record has no address, the payment fails.

If a vendor merges with another business or changes its legal name, update the vendor record in Financial Edge NXT. BILL checks the vendor against the BILL Network again.

Benefits of Joining the BILL Network

A vendor on the BILL Network controls its own bank information and payment preference, and it receives electronic payments from every business that pays through BILL. The vendor can see its payment history and remittance details in one place. A vendor can also choose to pay a fee to receive funds faster with Instant Transfer. Your organization doesn't see or pay that fee. Vendors that don't join the BILL Network still receive their payments and emails from BILL, and BILL can pay vendors that accept cards by virtual card.

Vendor KYC and Bank Account Verification with BILL

BILL doesn't run know-your-customer (KYC) checks on vendors. BILL does verify vendor bank accounts with a real-time check and a trial deposit that takes one to two business days. The check confirms that an account is valid. It doesn't compare the account owner to the vendor name. Vendors on the BILL Network are verified, and vendors don't need to provide written authorization or documents for ACH payments.