Resources for reviewers

Thank you for deciding to review Billy. This page contains resources to help you reduce the amount of time it will take to review the product and come up with your own conclusions.

Possible talking points

  • Billy is simple but not simplistic. With bright colors and big buttons, it’s easier to use than other accounting systems, but it doesn’t lack the sophistication.
  • Billy has two user interfaces, one for the business owner with a focus on dashboards, invoices and receipt capture, and the other for accountants, with a focus on the journal, financial statements, and reconciliations.
  • Billy combines the double-entry features of Xero or Quickbooks with the ease-of-use of Freshbooks.
  • Billy’s pricing is fair and based on how many organizations, not users nor functionality of the software.

Feature comparisons

If you’ve reviewed these other solutions, the following comparisons might help you find differences to highlight in your review.

Wave V. Billy

When reviewing with Wave, focus on speed and the number of clicks it takes to accomplish a simple task. Also, our live in-app chat support and the fact we don’t advertise other financial products to users. Finally, check out the invoice customization features, Billy allows quite a bit of customization as compared with Wave.

Xero V. Billy

When comparing Billy to Xero focus on price. Xero will cap $9/month users at 20 reconciliations, while Billy has no cap. Billy’s user interface is geared towards business owners, while Xero can still be very confusing if you don’t have CPA training. Billy’s invoices are more easily customizable and has an online quote approval workflow.

Quickbooks V. Billy

Quickbooks keeps jacking up their prices and adding features most freelancers will never need. It’s also a very confusing using interface compared to Billy.

Freshbooks V. Billy

Freshbooks is NOT double entry accounting. That means tax preparation is going to take much longer for the accountant, adding hours of billable time at the end of the year. The user interfaces are comparable, Billy lacks time-tracking and auto-reminders, but has late fee automations.

Review procedure cheat-sheets

Based on your audience, you may choose to focus on one of the following aspects of Billy in your review. First get your sample data in, then just follow the procedures for the functionality that most interests you.

Total time: 10 – 17 minutes

  1. Start a Billy Trial here: (1 min)
  2. Go through all of the onboarding Wizard steps (5 min)
  3. If you want to test Credit Card payments, add your Stripe account (1 min)
  4. If you want to test bank transaction integrations, connect one of your checking accounts (1 min)
  5. Add a new account for a test Credit Card, instructions HERE (3 min)
  6. Upload transactions to your bank account: go to Accounts > Reconcile > Upload statement, then upload THIS SAMPLE CHECKING ACCOUNT DATA (3 min)
  7. Upload transactions to your test credit card account: go to Accounts > Reconcile > Select the credit card account > Upload statement, then upload THIS SAMPLE CREDIT CARD DATA (3 min)
Total Time: 30 – 46 min

  1. Create a new invoice
    1. From the dashboard click on Create invoice (1 min)
    2. Create a new customer, call them Acme (1 min)
    3. Create a new contact person for Acme using your email address (1 min)
    4. Change the date of the invoice to 6/19/2017 (1 min)
    5. Add new products or services to the line items (2 min)
    6. Add line-item discounts or tax rates (1 min)
    7. Make the invoice equal to $1,000 (1 min)
    8. Select the payment method, if you are testing CC payments, chose Stripe (1 min)
    9. Approve the invoice (1 min)
  2. Exploring send options
    1. Send the invoice as an email (1 min)
    2. Open that email and check out our customer portal (2 min)
    3. Check out that email and customer portal on your phone (1 min)
    4. Send Reminder, the red button and add a late fee (2 min)
    5. Print at a PDF to see what a printed invoice looks like (1 min)
  3. Recurring Invoices
    1. Go to the Recurring Invoices section (1 min)
    2. Note the help video on every page, lifesaver icon on bottom left (2 min)
    3. Click on green Create recurring invoice button (1 min)
    4. Fill it out similarly to the earlier invoice (3 min)
    5. Pick the action, to send it, approve it or save as draft (1 min)
    6. Edit the default email and note the variables, which can be used in the invoice too (1 min)
    7. Start recurring invoice (1 min)
  4. Converting Quotes to Invoices
    1. Click on Quotes (1 min)
    2. Choose Create quote (1 min)
    3. Fill it in as usual (4 min)
    4. Click More > Show in customer portal (1 min)
    5. Sign your quote (2 min)
    6. Back in the Quotes section, convert that quote to an Invoice (1 min)
  5. Customizing your invoices
    1. Click the gear icon, bottom left, for settings (1 min)
    2. Pick Templates (1 min)
    3. Create a new Template (1 min)
    4. Explore the Appearance and Language features (5 min)
    5. Click Preview to see what you’ve built! (1 min)
Total Time: 16 – 29 min

  1. Marking your invoices as paid
    1. Go to the Bank accounts section, making sure the checking account is selected (1 min)
    2. Click on Reconcile (1 min)
    3. You should see your uploaded transactions on the left and Billy has matched your $1,000 invoice so that income on 6/20/2017 (1 min)
    4. Click on Match (1 min)
    5. Click on Account overview to verify that the account now has $1,000 more in it (1 min)
    6. Go to your Invoices module and verify that the invoice is now showing as Paid (1 min)
  2. Categorize your expenses
    1. Go to the Bank accounts section (1 min)
    2. Select the credit card account (1 min)
    3. Click Reconcile to see the sample bank transactions you just uploaded (1 min)
    4. Click on Edit and remove the parking fee since that was a personal expense (2 min)
    5. Hover over the Facebook Ad expense and click on Create Bill (1 min)
    6. Create a new vendor, call it Facebook (1 min)
    7. Pick Advertising as the Expense account (1 min)
    8. Click Match (1 min)
  3. Uploading receipts
    1. Go back to Billy’s Dashboard (1 min)
    2. Drag and drop any image or pdf file into the Bills area (2 min)
    3. Visit the Bills module and click on the thumbnail of the image you just uploaded (1 min)
    4. Create a new Vendor called, Symposium Cafe (1 min)
    5. Set the Bill date to 6/10/2017 (1 min)
    6. Expense category is Meals & entertainment (1 min)
    7. The amount is $6.72 (1 min)
    8. Add a description or comments, like “Dinner with Andre” (1 min)
    9. Save & approve (1 min)
    10. Go back to your credit card account Reconcile page (1 min)
    11. Drag the new invoice on top of the charge on your card and Match (1 min)
    12. Verify that the account has decreased by $6.72 (1 min)
    13. Verify that the Bill is now marked as paid (1 min)
Total time: 

  1.  Transfering funds from one account to another
    1. In the Checking account’s Reconcile page hover over the Payment for CC 2282
    2. Select Create another transaction
    3. Select the Credit card account and click Match
    4. Now go to the Credit card account’s Reconcile page and match the new transaction to the payment of the same amount
  2. Paying yourself owners draw
    1. Go to your checking account’s reconcile page
    2. Hover over the $3,000 transfer to Personal account
    3. Click on Create another transaction
    4. Type 530 and pick Owners draw
    5. Verify that the account is reduced by $3,000
    6. Click on Accounting > Chart of Accounts and verify that Owners Draw is increased by $3,000
  3. Customizing a Chart of Accounts
    1. Go to Accounting > Chart of Accounts
  4. Pulling financial reports
  5. Setting Tax rates and rules
  6. Commenting on transactions
  7. Inviting your accountant