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Zoho Books
Zoho Books is acloud-based accounting platformfor business transaction management.
We evaluated essential features and calculated a combined overall rating for each.
What Is Zoho Books?
It was established in 1996 in Bengaluru, India, with over 100 million global users and 15,000 employees.
It lets users set up multiple invoice reminders for their clients so they are sent automatically.
Users can add rows, print the invoices, or send them to the customers directly using email.
Zoho Books also supports recurring invoices and lets companies add customer credit card details for secure payment each month.
Its customizable templates allow users to adjust the look of the quote according to the brand identity.
Zoho Books also supports the status of the quotation and provides notification upon acceptance of the quote.
Payments
Zoho Books integrates with multiple online payment gateways for instant payment collection.
Companies can automatically collect payments weekly, monthly, or yearly.
It lets users automatically charge for recurring transactions and send automated reminders to customers.
Zoho Books has a customer portal where clients can make payments.
It automatically marks the paid invoices and records vendor payments to track the expenses.
It offers customizable templates for payment receipts that users can easily personalize.
Zoho Books generates detailed reports on payments received to help companies understand payment trends and customers preferred payment methods.
Zoho Books creates real-time reports on transactions, from which companies can identify their top customers and best-selling products.
Bill Management
Zoho Books enables businesses to create and send recurring bills for purchases.
While creating a customer invoice, users can add any billable line items previously associated with the customer.
Zoho Books also supports one-click bill creation from the finalized purchase order.
Purchase Orders
Businesses can track the ordered items and agreed-upon prices with the vendor using Zoho Books.
Zoho Books lets users print the purchase orders and share them through email with collaborators.
Admins can restrict the views and access of the users with role-based access.
Zoho Books also lets companies associate all project-related expenses in the bill.
Its retainer invoice supports payment collection for the projects.
Bank Account Reconciliation
Zoho Books performs account reconciliation by fetching transactions from your bank and PayPal account.
It can locate all the best possible matches to make reconciliation effortless and done within a few clicks.
It supports bulk actions for selecting, categorizing, deleting, and restoring multiple items for easy transaction management.
Zoho Books banking dashboard can predict precise cash flow, fetch past reconciliations, and find mismatched balances.
Users can create a customized price list consisting of markups or markdowns to share with preferred vendors and customers.
Documents Management
Despite being accounting software, Zoho Books has document management capabilities.
Users can upload those files to the cloud and organize them in different folders with drag-and-drop features.
It facilitates tax report generation according to your countrys regulations.
Zoho Books supports associating tags with products and contacts, enabling report filtering based on the tags.
Businesses also get notifications when vendors view their transactions and comment on documents.
What are the Benefits of Zoho Books?
The benefits of Zoho Books are listed below.
Multi-Currency Support
Multi-currency transaction support is available for Elite and Ultimate plans.
When users enable this feature for every contact, the customers will see the transaction summary in each currency.
Payable balance and available credits are also visible in all available currencies.
It lets companies choose the period for reconciliation from automatic bank feeds.
Thus, users can easily find out if there is any discrepancy between these two transactions.
The feature also supports custom report sharing with others with the preferred user access level.
Automation
Zoho Books enhances multitasking capability through task automation in business workflows.
It eliminates repetitive accounting tasks by automatically sending recurring invoices and automatic payment reminders.
Zoho Books lets users set up bank rules to categorize bank transactions.
It also offers necessary features to make collaborations with customers, vendors, and accountants smooth.
Compliant
Zoho Books allows its users to stay compliant with the standards and regulations.
Its tamper-proof audit trail feature tracks all activities and changes to meet specific regulatory requirements.
It helps to securely collect, store, and process customer data according to GDPR.
Zoho Books is also HIPAA compliant, so companies can use it to deal with health information.
This PCI-DSS Level 1 certified software encrypts the personal and payment information of the customers.
This makes data synchronization easier for companies already using different Zoho apps.
Stress-free Tax Processing
Zoho Books makes taxation easy for its users.
You may check out some moretax planning softwareif you need advanced features.
Zoho Books Pricing
Apart from the free plan, Zoho Books offers five different plans listed below.
How to Access Zoho Books for Free?
Zoho Books offers a free forever plan for 1 user and 1 accountant.
Companies with less than $50,000 in annual revenue can opt for this free plan.
However, it has some feature limitations.
Who Should Use Zoho Books?
Small businesses and startups in various industries should use Zoho Books.
Companies that need comprehensive accounting software with a user-friendly interface at an affordable price can use it.
Who Shouldnt Use Zoho Books?
It has help documentation and forums to assist its users.
Zoho Books even offers paid support plans for 24/7 access.
Zoho Books Alternatives
Companies looking for Zoho Books alternatives can go for otheraccounting softwareapplications.
FreshBooks
FreshBooksis a popular Zoho Books alternative for businesses focusing on user-friendliness and simplicity.
It also pairs well withconstruction CRM solutionsfor managing customer relationships alongside financial data.
It is an excellent Zoho Books alternative for streamlined operations and granular data analysis.
Zoho Books receives theGeekflare Value Awarddue to its comprehensive set of features.
Zoho Books has several subscription plans, including a free plan from which companies can choose their preferred one.
However, it is not suitable for companies that need complex and industry-oriented features, including large enterprises.
A general business accounting software like Zoho Books is not the best for these businesses.
