Melio is a free, simple, and secure cloud-based digital accounts payable and receivable solution that helps you get more control over your finances and improve your cash flow. Its features include easy and seamless accounting software integration with QuickBooks, payment approval workflows, payment scheduling, and mobile access. Melio charges a transaction fee of 2.9% for credit card payments and free for bank or automated clearing house (ACH) transfers. It works best for small businesses and sole proprietors who need a free bill payment tool that integrates with QuickBooks.
Melio Pros and Cons
Makes it easy to pay and get paid
Doesn’t integrate with Xero yet
Syncs directly with Quickbooks
Doesn’t support international payments yet
Offers free ACH transfer
Lacks inventory management capability
Quick and responsive customer support
Who Melio Is Best For
- Small businesses and sole proprietors who need a free bill payment: Melio is designed for small businesses and sole proprietorships in the United States who are looking to pay or get paid by other businesses for bills for free (through bank transfer). It integrates directly with QuickBooks, providing you with seamless two-way sync between your payments and accounting.
Melio lets you send payments through an ACH bank transfer for free and credit cards for a transaction fee of 2.9%. Conversely, you will always receive payments for free while your customer may send you payments through bank transfer for free or credit card for a 2.9% fee. There are no sign-up or monthly fees.
Please note that Melio will send checks through mails or directly transfer the money into your vendor’s bank account on your behalf for free.
Melio Alternatives 2020
Businesses that want the most widely used small business accounting software that scales as they grow
Solopreneurs and freelancers who need to streamline customer invoicing and payment collection
Businesses in the nonprofit, manufacturing and distribution, professional services, contracting, and retail industries
Businesses that use other Zoho products like Zoho CRM
Melio offers a comprehensive set of features designed to help small businesses easily manage payment transactions and track their cash flow. Let’s look at some of its top features to help you decide whether or not Melio is for you.
Log into your Intuit account to connect QuickBooks for easy two-way sync between your payments and your accounting. Once connected, Melio automatically generates data from QuickBooks, you don’t have to enter vendor details manually, saving you time, and preventing data entry errors.
Payment Approval Workflows
Melio lets you create a payment approval workflow in minutes and for free. You can invite and disinvite people and set up rules to decide who has permission to participate in the payment approval workflow.
Schedule multiple payments in advance so they go out exactly when they should, helping you to save time and better manage cash flow.
Vendor Payment Detail Request
If you’re missing your vendor’s payment information, then Melio will send them an email on your behalf. Your vendor can then decide whether they want to get paid through checks or bank deposits.
Most Helpful Melio Reviews
Users who gave positive Melio reviews like commented that it helps them pay and get paid easily. Others like that it syncs directly with QuickBooks, while some commended its friendly and responsive customer support. Meanwhile, those who left negative dislike that it doesn’t integrate with Xero and that it doesn’t support international payments.
Easy to send payment; no need to write paper checks
“Melio makes it extremely easy to upload a bill and send payment via check or electronically. They also have payment receipt features, but I have never used those. My favorite is to be able to pay vendors and contractors without having to write and mail paper checks.”
Doesn’t integrate with Xero
“It doesn’t integrate with Xero (yet). They say it is on the way, but that is my only bad thing about this software. It integrates with QuickBooks, so I believe that Xero is coming soon.”
Melio Frequently Asked Questions (FAQs)
What credit card providers does Melio support?
Melio supports Mastercard, Visa, Discover, Diners Club, and American Express credit cards. Those who are interested in using another credit card provider may send an email to Melio.
What industries does it cater to?
Melio caters to the following industries: accounting, logistics, healthcare, personal services, professional services, wine and spirits, home services, transportation, food and beverage, retail, construction, nonprofits, religious organizations, agriculture, and more.
Can I restrict access to users?
Yes, you can. Melio allows account owners to assign bill-paying roles while providing the flexibility to limit the scope of permissions or access depending on the account owner’s discretion.
Does Melio offer live support?
Yes, it does. Melio’s live support can be reached via email, phone, or the chatbot on its website.
Our Top Small Business Accounting Software Providers
In case you still aren’t sure if Melio is right for you, then this article on the best small business accounting software is a review of our top choices. In this guide, we looked at a variety of solutions and narrowed our recommendations down based on cost and user-friendliness as well as their ability to pay bills, invoice customers, and connect bank and credit card accounts.