Melio - Simple Accounts Payable Application

Once the green "Save and schedule payment" button is selected, you will be prompted to choose how to pay this vendor. You can either have a check mailed or pay your vendor via ACH. You will need to obtain the routing and account number of the vendor. The payment will be deposited in 3 business days for a bank transfer (4 business days for over $100k) or 7 business days for a paper check. You can request an email to be sent to the vendor so that they can enter their own ACH information, this is the preferred method for security purposes. You can select what day to pay the bill on. Once you click submit, Quickbooks marks the bill as paid and you are done! You will be able to match the transaction in the bank feed.

No more identifying checks using your bank statement or online banking!

You can also choose to initiate payment directly from Melio. It is important to enter the bill in Quickbooks first. Then, login to Melio and schedule payments. This prevents duplication of vendors. You can also send emails to vendors in the Melio platform to request ACH information.

A note about checks- If you chose to send your vendor a paper check via Melio, the funds are drafted from your account and the check is mailed from Melio. Melio sends an email notification when a check has cleared. This makes reconciling bank accounts cleaner because you are not tracking all of your outstanding checks, Melio does it for you! Stop payments are still available, if necessary

User management and approvals- Melio provides the use of 3 different types of users: Admin, Accountant, and Contributor. This is a great tool to provide internal controls or allow outside parties to assist with accounts payable. You can create a contributor role that has a cap on amounts they can approve. For example, you can have a user that has a $0 cap for approval. This means that all payments scheduled must be approved by an admin in order to be processed. The admin will receive and email notifying them that payments are queued for approve. The admin simply logs into Melio to finalize the payment.