PayTrust – I Love This Service
How would you like to spend less that one minute a month paying your personal bills -- and better yet, never have to receive a personal bill in the mail again? Thanks to PayTrust, this is all possible and has been for years. As I said in the title, I love this service and have been using it for over five years. Because of PayTrust, I spend less than one minute a month on my personal bills and have not opened up a paper bill in years.
The service is very simple. All you do is create an account, and then have your bills mailed to a new PO Box address that you are given. Once your bills arrive, they are scanned and posted for you to view and ultimately to pay when you are ready. Electronic bills can also arrive directly to your account.
We also have a second PayTrust account for the business. Here again all of our bills are mailed to a PO Box and immediately scanned in. The beauty of this is that both our bookkeeper and I can view the bills, yet neither one of us have to open and scan them. To me, this alone is worth the cost of the service. For the corporate account we pay $18.95 because we have them send us a monthly CD with all the scanned bills for our permanent records.
It’s interesting to note that for our corporation we do not use PayTrust to pay the bills received. This is because when bills are paid through PayTrust, they do not show up in Quickbooks until they clear and this does not work for our bookkeeper. She wants bills paid to show up immediately in Quickbooks. So she just pays the bills directly from Quickbooks online.
If you are spending more than five or ten minutes a month on your personal bills, give PayTrust a try. Here is a link to PayTrust and other cash management tools we recommend.