Features of Zoho Books 2022

With the advent of technology in the accounting industry, accounting software has skyrocketed. It automates the invoicing and billing process. Secondly, it eases tax calculations and project management. Lastly, it manages your general ledger, accounts receivable, and accounts payable. 

What are Zoho Books?

Zoho Books is one of the platforms of the Zoho suite, which consists of more than 40 integrated business operations apps. Zoho Books is a cloud financing software that gives you the platform to manage your A-to-Z financial business operations. The platform is best suited to small and mid-sized businesses.

It’s a one-stop station for accounting software, cash flow management, and a unique dashboard to monitor all business operations, investments, and other financing activities. Besides automating the entire accounting process, it connects all your payment getaways and bank accounts, creates client portals, etc. Since 2011, it has become a top player in the accounting industry. 

What do Zoho Books hold for Small Businesses?

According to research, Zoho Books is considered the best accounting software for automation. But Zoho Books has more than automation. It’s beneficial for small businesses and has launched several new features. Therefore, Zoho Books is trusted by 80 million users globally. Its users include some famous brands such as Hyundai, Amazon, OLA, Zomato, etc. Zoho Books offers a wide range of features. The following features are: 

• Accounts Receivable & Payable

Zoho Books provides an advanced invoicing feature with 16 invoice templates, customization, automation, encryption, etc. On Zoho Product, Payment Gateway sends reminders and accepts online payment via credit card or ACH. Plus, international accounting features like fluid currency and localized editions enable smooth transactions worldwide. Besides improving client relationships, it assigns sales tax to customers and updates the local rates. 

The Zoho Subscription manages recurring invoices and takes care of customer needs. It gives 20 subscriptions for free. Besides, it integrates your bank account and PayPal to ease bank reconciliation. As a result, you can glance at your finance and visual reports to anticipate and manage cash flow. 

Similarly, the account payable of Zoho Books gives you a picture of cash outflows. Managing business expenses, purchase orders, recurring bill setup, and vendor credit for return becomes easy. As a result, automation in both account payable and receivables help you understand your cash flow, and your financial statements don’t lack any minute detail due to automation. 

• Inventory Management

Zoho Books is excellent in tracing and managing inventory. You can organize the inventory details in depth and detail on the platform. An easy setup of automated reorder thresholds notifies your supplier when the level of inventory declines, So the inventory is always up-to-date, and visual inventory status reports are available in one single click

• Time Tracking & Reports

While handling contractors & clients, tracking time for accurate billing and planning is vital to the business. Zoho Books possess two features to keep a tab of the time. First, you can log the time invested per project daily or weekly. Second, you can clock time spent on Zoho Books’ time widget. 

You can design 50+ business reports with Zoho Books along with time tracking. The dashboard shows all financial and other information in visual data. Eventually, this information helps in generating reports for various projects.

• Contact Management

You don’t need to maintain separate Excel sheets to lay down your business relationship. The contact portal of Zoho Books does that by managing all of them at one portal. You can manage, access, and collaborate with your customers, contractors, and vendors in this portal. On the secured client portal, all clients can view documents, invoices, estimates, and project details. Plus, they can leave a comment, pay invoices and write testimonials on the portal. 

• Security Features

For Zoho Books, security is a crucial component of its offering. So, it takes robust security measures- for instance, two-factor authentication, data encryption, regular virus detection, and prevention scanning. Besides complying with EU-US Privacy Shield Framework, Zoho backs up data on many servers in undisclosed locations. Also, as physical security measures, it has 24/7/365 surveillance, bullet-resistant walls, video monitoring, etc. 

• Integrations

Zoho One has a host of platforms, such as Zoho CRM, Zoho Inventory, etc. Integrating Zoho Books and other systems is easy if you use any Zoho platform. The standard integration platform for Zoho Books is tax filing or online payments. Also, Zoho has launched the Zoho Payroll platform.

Nevertheless, only two US states, i.e., Texas & California and India, can use it. However, consider that Zoho Books doesn’t provide integration with any other payroll system. Moreover, integrations with other third parties get complicated in Zoho Books. So as an alternative, you can consider QuickBooks, which has 650+ integrations. 

• Pricing Plans

Zoho pricing plans are pocket friendly for even businesses on a low budget. Besides this, any plan’s a free trial period of 14 days is available. Plus, you don’t need to give banking or credit card details, and you can cancel the free trial anytime. The payment for all subscriptions is made monthly. However, if you take a year-long subscription, it gives a discount for two free months. You can scan receipts & documents and store them in Zoho Books for $15/month for 25 auto scans.

•  Customer Support

Zoho’s customer support system is par excellence and available 24/5 from Monday to Friday. They provide information and prompt help to customer service representatives. A wide range of customer service support is available on the portal directly. Firstly, via phone, you can report your issues. The wait time on calls is often short, and representatives are cooperative. Secondly, you can even mail for assistance. The third option is to sign up for weekly webinars for a detailed insight into Zoho Books. Plus, pre-recorded videos are available to see at your time convenience. Fourthly, a comprehensive knowledge base could answer most of your queries. It comprises FAQs, blogs, articles, videos, business guides, migration guides, and many more. Lastly, an accountant finder option helps you find an accountant near you. 

Conclusion

As the key features are listed, now you are the decision maker. A small business owner looks for affordable and well-rounded accounting software. For them, Zoho Books can be the answer. However, you still have other options—for instance, QuickBooks, ZohoBooks, FreshBooks, Tipalti Approve, NetSuite ERP, and many more. So, before choosing one, review other accounting software. 

Read  10 reasons why you should use QuickBooks.

Schedule a meeting with industry experts at SKB Accounting for more insights on accounting.