Best Software today announced that it will soon offer electronic bill pay, through the company’s partnership with Metavante Corporation, beginning with the release of PeachtreeÆ 2006. Available in June, the new release of Peachtree 2006 will include Metavante’s electronic bill payment functionality. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).
I’m not sure if Microsoft Money offers this already, but Intuit said to me:
QuickBooks certainly does offer online bill pay. QuickBooks Bill Pay Service provides a quick and easy way for users to pay bills, invoices and other expenses directly from QuickBooks. The QB Bill Pay Service is free for 30 days (for up to 20 payments) then it is $15.95 a month for up to 20 payments and $6.95 for each additional set of 10 payments.
In addition, QuickBooks offers a service that allows users to receive payment online. QuickBooks Billing Solutions allows QB users to get paid fasteróand service customers betteróby enabling small businesses to accept online payments. There is a 90-day free trial for this service. After that, users pay $14.95 a month.
I wonder why this option was not offered earlier by Peachtree? Also many banks offer electronic bill pay. Although it probably won’t be integrated into your accounting program, one could use the bank’s (often free) electronic bill pay to pay bills as I do with my bank.
“We know that cash flow planning is an integral component for the success of our customers’ businesses,” said Jim Portner, vice president of product management, Small Business Division accounting solutions. “The addition of online bill pay will expand our customers’ ability to pay vendor bills and invoices and track cash flow directly from within Peachtree. This added functionality will provide our customers with a secure, easy to use and time saving solution.”
The press release reads – Using the new Peachtree Bill Pay functionality, small businesses will have the ability to set up payment of bills electronically without the need to switch banks. Integrated into Peachtree 2006, the bill pay functionality, powered by Metavante, electronically transfers users’ payments from their financial institutions to the payee on the date specified using the Automated Clearing House (ACH) network. Because security is a top concern, Peachtree Bill Pay uses secure processes that banks and other financial institutions use to transmit data. All customer data is transmitted using industry standard encryption technology. Metavante’s bill pay engine processes millions of payments every month.
“Best Software built its reputation on delivering innovative offerings that expand to accommodate the changing needs of today’s growing businesses,” said Frank D’Angelo, president and chief operating officer, Metavante Payment Solutions Group. “Metavante’s powerful electronic payment engine, designed for reliability and scalability, ensures small businesses can grow with Peachtree Bill Pay.”
Pricing and Availability
Peachtree Bill Pay is an affordable and cost effective solution that will be available for $15.95 and includes up to 20 payments a month. For each additional set of 10 payments, a charge of $6.95 will be applied. The service will be available beginning with PeachtreeÆ 2006.
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