Overview of Accounting and Bookkeeping in Zoho Books

Zoho Books is a popular online accounting software among Indian enterprises. It assists organisations in managing their finances, ensuring GST compliance, automating their company workflow and collaborating across departments. It also aids in the management of bills and the control of expenses. With Zoho Books, you can record, monitor and reconcile your bank accounts and transactions, as well as work with your accountant in real-time.

With over 40 integrations, Accounting and Bookkeeping in Zoho Books can help transaction negotiations, sales orders, invoicing and a range of accounting tasks. It also offers 50+ business reports, which can help you gain a better understanding of your company's health.

What are the Benefits of Accounting and Bookkeeping in Zoho Books?

The benefits of Accounting and Bookkeeping in Zoho Books are:

Efficient MIS Reports using Accounting and Bookkeeping in Zoho Books: 

Zoho Books Accounting Service distributes Management Information System (MIS) reports, providing businesses with valuable insights for time management and decision-making. These reports are based on key performance indicators and financial statements, enabling businesses to track their progress and make informed strategic decisions.

Compliance with Legal and Regulatory Requirements: 

Zoho Books Accounting Service ensures that your financial and audit statements are prepared in accordance with the applicable legal and regulatory requirements. By adhering to these standards, businesses can avoid penalties, maintain credibility and meet their obligations to stakeholders and authorities.

Growth Strategy Development using Accounting and Bookkeeping in Zoho Books: 

Zoho Books Accounting Service goes beyond basic bookkeeping. It provides businesses with a growth strategy that encompasses areas such as sales, cash flow management and improved financial performance. By analysing financial data and trends, Zoho Books helps businesses identify opportunities for growth, optimise resources and achieve their strategic objectives.

Time and Resource Savings using Accounting and Bookkeeping in Zoho Books: 

By outsourcing accounting tasks to Zoho Books Accounting Service, businesses can free up valuable time and resources.

Expertise and Professionalism using Accounting and Bookkeeping in Zoho Books: 

Zoho Books Accounting Service provides access to a team of experienced accounting professionals who possess the necessary expertise and knowledge.

Access to Advanced Features using Accounting and Bookkeeping in Zoho Books: 

Zoho Books Accounting Service grants businesses access to advanced features and functionalities that go beyond basic accounting tasks.

Cost Savings using Accounting and Bookkeeping in Zoho Books: 

Outsourcing accounting tasks to Zoho Books Accounting Service can result in cost savings for businesses.

Professional Support and Assistance using Accounting and Bookkeeping in Zoho Books: 

Zoho Books Accounting Service provides professional support and assistance to businesses. Whether it's answering accounting queries, resolving technical issues or providing guidance on financial matters, businesses can rely on the expertise and prompt support from the Zoho Books team. This ensures a smooth experience and easy facilitation knowing that professional help is just a call or message away.

Why is Zoho Books one of the Most Preferred Accounting Software in India?

Zoho Books has emerged as one of the leading accounting software solutions in India, primarily due to its exceptional features and functionalities. With a cloud-based accounting system, extensive financial reporting capabilities, seamless GST compliance, online payment acceptance, time-saving automation and automatic bank feed functionality, Zoho Books offers a comprehensive solution that caters to the needs of businesses across the country.

Cloud-Based Accounting System:

One of the key factors that sets Zoho Books apart is its cloud-based accounting system. Unlike traditional software that requires desktop installations and manual backups, Zoho Books operates entirely on the cloud.

Financial Reports by using Accounting and Bookkeeping in Zoho Books:

Financial reporting is an important part of accounting since it gives useful information about a company's financial health and performance. Zoho Books shines in this area, with over 50 comprehensive reports covering a wide range of financial topics. These reports include advanced analytics, allowing firms to thoroughly analyse their financial data.

GST compliance by using Accounting and Bookkeeping in Zoho Books:

In India, compliance with the Goods and Services Tax is of utmost importance for businesses. Zoho Books simplifies the process of GST compliance by providing seamless integration with the GST network. Businesses can generate and file GST returns directly within the software, ensuring accurate and timely compliance.

Online Payment by using Accounting and Bookkeeping in Zoho Books:

Online payment acceptance is another significant advantage of using Zoho Books. The software seamlessly integrates with popular online payment gateways, enabling businesses to accept payments from their customers electronically. This feature not only enhances cash flow but also provides convenience and flexibility for both businesses and customers. Additionally, Zoho Books allows businesses to set up recurring payments, making it easier to manage subscription-based services or instalment payments.

Time saving automation:

Time-saving automation is a central aspect of modern accounting software and Zoho Books excels in this regard. With its built-in automation features, repetitive and time-consuming tasks are streamlined, allowing businesses to save valuable time and effort. The software automates processes such as invoice generation, payment reminders and recurring expenses, reducing the need for manual intervention. This automation not only enhances efficiency but also minimises the risk of errors and ensures consistency in financial processes.

What are the Essential Features of Zoho Books?

The use of Zoho books gives access to a number of beneficial features to its users, which are:

• Payment Reminders: 

Zoho Books allows you to automate payment reminders, sending multiple messages at different times. You can customise the content and timing of the reminders, helping you improve cash flow by encouraging timely payments.

• Automated Report Generation: 

Schedule reports to be automatically generated and emailed to you in your preferred format (PDF, CSV or XLS). You can receive a weekly report with an overview of your business's performance, including income and expenses, cash flow, top expenses and active projects. Zoho Books offers a variety of built-in reports for better financial analysis.

• Custom Functions: 

Zoho Books offers the ability to create custom automation tools. Tech-savvy users can use Zoho's scripting language to code custom functions, while less tech-inclined users can seek assistance from Zoho's coding team to automate additional functions.

• Client Portal: 

Zoho Books provides a client portal where customers can view invoices, make payments and interact with your business. You can also send estimates and chat with clients within the program. The portal notifies you when clients view estimates or invoices, accept or decline estimates or make payments.

• Invoicing: 

Zoho Books offers robust invoicing features, allowing you to create projects, track billable time and invoice customers. The client-approval feature enables customers to review and approve timesheets before billing. The software also allows you to track and invoice billable expenses. Zoho Books provides extensive invoice customisation options, including templates, languages, fonts, logos, background images and colour choices.

• Inventory Tracking: 

Available with Zoho's Professional plan, inventory tracking helps you manage stock levels. Zoho Books alerts you when the quantity of an item on an invoice exceeds available stock, helping you avoid overselling. You can also set up notifications for low inventory levels. For more advanced inventory needs, you can integrate Zoho Inventory with Zoho Books for an additional cost.

What are the Plans Available to Users in India for Accounting and Bookkeeping in Zoho Books?

Zoho Books Plans available in India for the purpose of for Accounting and Bookkeeping in Zoho Books are:

Free Plan:

• Allows up to 1000 invoices & 1000 bills.
• Access for three users with one GSTIN.
• Features include Accounts Receivable, Accounts Payable, GST Filing, Bill of Entry, Stock Tracking, Direct Bank Integration with partner banks, eWay Bill and Customer Portal.

Standard Plan:

• Allows up to 5000 invoices & 5000 bills.
• Access for three users with one GSTIN.
• Includes all features of the Free plan.
• Additional features: Multi-currency Handling, Budgeting, Additional paid GSTIN, Unbranded e-mails.

Professional Plan:

• Allows up to 10,000 invoices & 10,000 bills.
• Access for four users with two GSTINs.
• Includes all features of the Standard plan.
• Additional features: Purchase Orders, Vendor Portal, Digital Signature, Projects and Timesheet, Custom Domain, Custom User Roles, Workflow Automation, Zoho Payroll (10 employees).

Premium Plan:

• Allows up to 25,000 invoices & 25,000 bills.
• Access for seven users with three GSTINs.
• Includes all features of the Professional plan.
• Additional features: e-Invoicing, Price Lists, Landed Cost, Twilio Integration, Reporting Tags, Custom Functions, Zoho Payroll (20 employees).

Elite Plan:

• Allows up to 1,00,000 invoices & 10,000 bills.
• Access for 15 users with 10 GSTINs.
• Includes all features of the Premium plan.
• Additional features: Manage offline + Online orders (Up to 10K orders each), Integrate Shopify Stores (Up to 2 stores), Warehouse Management (Up to 10 warehouses), Serial Number Tracking, Batch Tracking, Print Shipping Label (Up to 1000).

Ultimate Plan:

• Allows up to 100,000 invoices & 10,000 bills.
• Access for 15 users with 10 GSTINs.
• Includes all features of the Elite plan.
• Additional features: View real-time reports and dashboards, Analyse and track key financial metrics, customise reports and dashboards, Create KPI dashboards, Analyse Zoho Books data along with other data sources, Share reports online, collaboratively create reports with colleagues, Export and print reports as excel or PDF, Embed reports in web sites/applications, Records/Rows (5 million).

Which Industries Accounting and Bookkeeping in Zoho Books Cater to?

Industry-Specific Accounting with Zoho Books extends to the following industries:

Healthcare:

• Accurate tracking and management of medical expenses, insurance payments and patient billing.
• Customised software for handling revenue tracking, healthcare inventory and specialised compliance reports.

Real Estate:

• Streamlined management of rental income, property expenses and property acquisitions.
• Calculation of property valuation and generation of detailed reports for profitability analysis.
• Compliance with real estate regulations and document management for property transactions.

E-Commerce:

• Integration with e-commerce platforms and automation of accounting tasks.
• Accurate tracking of sales, refunds and inventory levels across multiple sales channels.
• Automation of tax calculations and generation of sales tax reports for compliance.

Hospitality:

• Streamlined financial operations for managing guest payments, room occupancy and expenses.
• Generation of detailed financial reports for analysis and decision-making.
• Efficient financial management while providing exceptional guest experiences.

Legal Practice:

• Specialised accounting solutions for trust accounting, client billing and case expenses.
• Features for managing client retainers, per-case expense tracking and detailed billing reports.
• Accurate and compliant financial records, improved cash flow management and streamlined billing process.

Media and Marketing:

• Customised features for project cost tracking, billable hours management and client invoicing.
• Analysis of project profitability and resource allocation optimisation.
• Efficient financial operations for media and marketing agencies.

What are the Essential Features of Accounting and Bookkeeping in Zoho books?

Accounting and Bookkeeping in Zoho Books offers a range of important features that enhance various aspects of accounting and bookkeeping processes. These features include Receivable, Payables, Inventory, Banking, Timesheet, Contacts and Reports. Mentioned below is each feature in detail to understand how they benefit businesses:

• Receivable:

When businesses switch to Zoho Books, managing receivables becomes seamless. Sending estimates to clients, converting them into invoices and receiving online payments are simplified processes. Zoho Books provides customisable invoice templates that businesses can tailor to their brand identity. The software also enables businesses to set up automated payment reminders, ensuring timely payments from customers. This feature not only improves cash flow but also saves time and effort in managing receivables.

• Payables:

Zoho Books offers comprehensive payables management, allowing businesses to efficiently handle vendor bills and expenses. Businesses can easily record vendor bills, track due dates and set up payment schedules. The software provides a centralised platform to manage payables, ensuring accurate and timely payments to vendors. With Zoho Books, businesses can streamline their accounts payable process and maintain healthy vendor relationships.

• Inventory:

Managing inventory is made convenient with Zoho Books. The software enables businesses to keep track of inventory levels in real-time, ensuring efficient inventory management. Users can easily record goods and services provided, track stock levels and set up alerts for low inventory. This feature helps businesses optimise inventory levels, avoid stockouts and make informed purchasing decisions. By accurately tracking inventory, businesses can reduce costs, improve order fulfilment and enhance customer satisfaction.

• Banking:

Zoho Books simplifies bank reconciliation, benefiting significantly for businesses. The software allows users to connect their bank accounts and automatically fetch bank transactions. Users can categorise and reconcile transactions with their accounting records, ensuring accurate financial data. Additionally, Zoho Books provides cash flow forecasting, giving businesses insights into their future financial positions. This feature helps businesses make informed decisions regarding cash flow management, budgeting and financial planning.

• Timesheet:

Efficient management of timesheets is another major feature of using Zoho Books. The software allows businesses to track employee hours, project expenses and billable time accurately. Users can generate detailed timesheets, making it easier to calculate employee wages, project costs and client invoices. Zoho Books enables businesses to streamline their time tracking processes, ensuring accurate project costing, efficient resource allocation and precise client billing.

• Contacts:

Zoho Books offers strong contact management capabilities. Users can create customised price lists for different customers, allowing for flexible pricing strategies. The software enables businesses to capture detailed product information, including descriptions, specifications and pricing. This feature enhances customer relationship management by providing comprehensive customer profiles and facilitating targeted marketing efforts. By efficiently managing contacts, businesses can personalise their interactions, improve customer satisfaction and drive sales growth.

• Reports:

Zoho Books provides a wide range of reporting options to analyse and monitor financial data effectively. Users can design and customise reports to meet their individual requirements. Businesses can generate profit and loss statements, balance sheets, cash flow reports and other reports using the software's numerous report categories. The reports assist firms in better understanding their financial performance, identifying patterns and making data-driven decisions. Businesses can use Zoho Books' reporting tool to analyse key KPIs, measure profitability and enhance overall financial management.

Why Choose Startupfino for Accounting and Bookkeeping in Zoho Books?

Startupfino is a company that specialises in offering complete Accounting and Bookkeeping services in Zoho Books.We can aid with everything from providing comprehensive and efficient accounting services in Zoho books to ensuring that your organisation is maintained in good legal standing.