My Honest Review of Zoho Books For Accounting

Zoho Books Review – Accounting Software Features

As your business grows, so too can your Zoho Books account. Initially sign-up for a trial, now I have already integrated the software into our 3 organizations. We have already invited 30 team members to the centralized software. Today as I use 80% of all Zoho’s apps, I already suggest Zoho Books to my friends. I tell them how content I am using this software and that they should definitely give it a shot. Being a small business they’ve provided me with ALL the services I need to keep our finances intact. Good for people starting up a business and wanting to keep a track on their finance.

Zoho Books Review – Accounting Software Features

Zoho Books streamlines business transactions and tracks income and expenses. Additionally, the software connects with systems like CRM, Inventory, and Subscription tools. The system is also accessible on all mobile platforms – iOS, Android, and Windows. Users can manage finances wherever they go with the Zoho Books mobile apps. Zoho Invoice is an invoice- and billing-specific Zoho product. With it, you can send customized and recurring invoices, accept online payments, and track the time you spend on each project for more accurate customer billing.

Why Is Zoho Books Good For Accounting?

Sometimes, you need software that provides specific functionality. At other times, you will simply like the dashboard and navigation in one given platform, even if that is not a general consensus. The main thing to keep in mind with Zoho Books is the lack of payroll functionality, which is a shame. The price is significant, but it is often not a deal-breaker; just ask anybody who has run into problems with accounting solutions. $15 a month extra is nothing compared to the hassle a subpar accounting platform can cause. For Zoho Books in particular, it has all of the features I used in QuickBooks, plus easy-to-use workflow automations and integrations with the rest of the Zoho One suite.

However, the option to start a timer is not available as a quick-add button, so you’ll have to navigate to the pages in the “time tracking” category. Zoho Books’ “time tracking” section consists of “project” and “timesheet.” In the “project” page, you can create a new project.

How much does Zoho Books cost?

For an additional fee, you can set up additional users and give them only the access needed for their role. However, when you get used to the nuances, you should be able to understand the software easily. Zoho Books offers a free plan and three paid subscriptions with prices that start at $20 per organization, per month and go up to $70 per organization, per month. Zoho Books is an accounting application that includes a full suite of bookkeeping, financial management, and invoicing tools. It helps business owners or managers track expenses, manage inventory, invoice customers and employees, and generate key financial reports to track their business.

While you can store all key information on the cloud, the actual accounting software is not cloud-based. This means you cannot gain access from anywhere, making it difficult to use on the run.

Zoho Books features

It’s priced competitively, and if all you want to do is monitor your financial condition, it does its job perfectly. Most importantly, Zoho Books works best for businesses that seek comprehensive business management software. As mentioned previously, the accounting solution is a part of Zoho Suite including apps for Inventory, Expense, Checkout, and others. Plus, the platform can be integrated with other Zoho apps for marketing, project management, CRM, email, and collaboration. Sales tax can be easily assigned to customers and updates with your local rates, which is particularly helpful for recurring invoices. The Professional plan allows you to create sales orders, purchase orders, custom domains, and more. The high-powered inventory management is only available in this tier, as is the vendor portal.

  • The system makes it easy to create a schedule of recurring invoices.
  • Zoho’s general features are also more developed compared to most similar accounting programs.
  • Additionally, between their mobile app and web platform, FreshBooks is known as one of the most intuitive, flexible, and accessible accounting software options.
  • To try Zoho Books yourself, consider signing up for a free 14-day trial – no credit card required.
  • Click the “new” button on the top-right corner of the page.
  • Direct integration with your CRM software is an obvious plus, as you will be able to tie your accounting and customer database together.

Users are limited to 5,000 transactions per month, even on the highest-tier plan. Although many service-based small businesses probably won’t exceed this limit, it’s something to keep in mind for those with a very high transaction volume. The cap on the number of monthly transactions and users may dissuade high-volume, employee-heavy businesses from using the software. Zoho’s built-in automation tools set this accounting software apart from its peers. The ability to eliminate tedious, error-prone tasks and streamline operations is why Zoho Books is our best pick for process automation.

PRODUCT FEATURES

Plus there’s a tax tool you can use to set a default tax rate, calculate sales tax and file 1099s for contractors. Accounting can be one of the most time-consuming aspects of running a business. It was no surprise, then, that the small business owners we spoke with said the most important thing they look for in accounting software is features that save them time.

  • Along with the included reports, customers can sync their Books account with Zoho Analytics for more advanced reporting if needed.
  • The client approvals feature lets customers approve timesheets before you bill them.
  • Additionally, you can create bank rules that can help you categorize all your bank transactions automatically.
  • With four tiered versions and add-on options, Zoho Books can grow with your company, allowing you to upgrade and accommodate your business’s expansion.

Being a cloud-based software, it requires an active internet connection all the time. While Zoho Books may be one of the best platforms for accounting as evidenced by this review, it’s not without a few shortcomings. Additionally, there’s a limit on the number of bills you can create. This limit is identical to the limit on invoices with a cap of 100K for the Ultimate plan. That said, if you’re already using other apps from the Zoho Suite, then there’s absolutely no problem as Zoho Books integrates seamlessly with them. Additionally, the Zoho apps stack can easily fulfill most of your business needs. You do have the option to connect Zoho Books to Zapier to further connect it to 500 other apps, but there’s a limitation when it comes to direct integrations.

That said, this plan works perfectly well for small businesses. Finally, your suppliers can also see all the transactions that they’ve done with your business on the vendor portal. What makes document storage so useful though is the fact that they’re all digitized and uploaded to the cloud. This means that you can access them from anywhere and on any device.

Intuit QuickBooks Self

The accounting solution also offers customization for the business reports. You can choose what data needs to be included in the reports and even filter the reports using tags. The platform integrates with most major payment gateways, including PayPal, Stripe, and Square. You can choose one or multiple payment gateways to integrate with your software and start collecting payments. Additionally, Zoho Books removes the need to create a different estimate, sales order, and invoice. You can easily convert an estimate into a sales order, which, in turn, can be converted into an invoice — all with the click of a button.

Purchase transactions—expenses, bills, purchase orders, and so on—are similarly detailed and flexible. Like records, transaction forms can contain up to 46 custom fields, which is unique to Zoho Books.

The payment history tab is also useful to see how much you paid and when the payment was made for future reference when tax filing does occur. They will also log all of your tax payments made automatically to make sure if you overpay at the end of the year, you can get a refund for your overpayment.

What is Zoho Books used for?

Even the free plan offers a bunch of helpful features that can help small businesses with all their accounting requirements. And even if you do want to access the added features that the paid plan offers, you only have to spend $15 per month to get started, which is pretty neat. Additionally, you can print your shipping labels using the platform too. This makes the Elite plan the best choice for an ecommerce business as it doubles up both as an accounting platform and an ecommerce management platform. The Professional plan also gives you inventory management capabilities and access to bills, both of which aren’t available in the previous plans. Whenever you share invoices with your clients, they’ll be able to access them all in their portal.

Zoho Books has taken great strides in recent years to improve some of the weaker and oft-maligned features, making their product much stronger. There are several options and tiers within Zoho Books depending on your size and needs, which we’ll cover next. Preserve your accounting processes with our built-in software integrations. Expense management software that helps to simplify and streamline your expenses.

What is Zoho Books used for?

Zoho Books is your one-stop platform for managing your accounting tasks and organizing your transactions. It's a single secure location to keep up with your company's bills and invoices, reconcile your bank statements, control your spending, oversee projects, and eliminate GST compliance worries.

Zoho Books is a solid accounting tool that lacks luster when compared to its competitors. Though it’s hard to truly say anything bad about it, we feel other online accounting software simply does a better job. Plus, they include all your essential accounting features. So, if this is something you’re interested in, be sure to choose an accounting software with receipt management capabilities. I highly recommend starting with the Standard Plan ($15 per month) and upgrading to an advanced plan when and if you need to. The Basic Plan includes two separate user accounts and five automated workflows to simplify your accounting processes.

Overall, I highly recommend Zoho Books, but encourage you to purchase the full Zoho One suite rather than Books as a standalone application. For the same price of a QuickBooks subscription, I was able to purchase a license to Zoho One, which comes with dozens of other valuable apps . Only data exports but any images of products they dont export then why to mention as backup they should mention as data export.. Zoho Books outstrips nearly all the competition with its invoicing features. This is a fabulous Accounting System that doesn’t require being a bookkeeper to comprehend and utilize it effectively.

Who Cannot use cash method of accounting?

Cash method availability

Businesses prohibited from using the cash method include C corporations and partnerships with a C corporation partner, unless one of the following exceptions applies: The business's average annual gross receipts for the previous three tax years are $5 million or less.

Considering Zoho Books’ depth, flexibility, and integration abilities, you’d expect that it would offer an equally impressive slate of reports. The tool offers dozens of reports in every category, from sales and purchases to receivables and payables to projects and activity. There’s a group of advanced reports designed for accountants; it includes an enhanced General Ledger, Journal Report, and Trial Balance. Zoho’s integration with SurePayroll is a major move since our last review.

Zoho Books Review: Features

However, those same advanced features make it an excellent choice for some small businesses—even medium-sized business customers. The service offers several unique features not found in competitors, such as extensive custom fields and automated workflows.

The setup is unique to your business, and Zoho’s handy guides help you create the right workflows for your needs. Like many accounting software providers, Zoho Books offers the occasional holiday sale. Check the site during the end of the year and again at the end of tax season in April. You’ll also save quite a bit of cash if pay annually rather than month to month. If https://personal-accounting.org/ youcan, we strongly recommend signing up for an annual price rather than paying on a monthly basis. The Purchases section of the software is where you can keep track of your expenses, bills, payments made, and vendor credits. This section mirrors the Sales section, and that the two are laid out so similarly makes it easier to navigate through the software intuitively.

Zoho Books Review – Accounting Software Features

It even offers a free version, which makes it a great platform for small businesses and startups that don’t have extensive budgets for buying software. It offers an end-to-end accounting system for all sizes of business, ranging from startups to enterprises. Although Zoho isn’t a financial services company, the features that Zoho Books offers are equivalent to, or better than, other popular accounting solutions. Additionally, between their mobile app and web platform, FreshBooks is known as one of the most intuitive, flexible, and accessible accounting software options.

What Businesses does Zoho Books Work Best for?

The system makes it easy to create a schedule of recurring invoices. Maintain a clear record of the tax payments you have made, and which tax authorities you have paid them to. Record your tax dues and reconcile the transactions right within your accounting software. Both QuickBooks and FreshBooks allow you to try their software for 30 days. They also Zoho Books Review – Accounting Software Features offer more third-party integration options than Zoho, making them a better pick for scalability. See more details on the competition in our full roundup of the best accounting software for small businesses. Before you decide whether Zoho Books makes sense for your business, it’s a good idea to compare it to some of the other accounting software.

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