Zoho Books is an online accounting software that lets you manage your financials and banking, automate your sales and purchasing workflows, and even track time and create reports.
Zoho Books includes accounting capabilities such as accrual accounting, good control over the chart of accounts, and the ability to create journal entries. Small business owners can create profit and loss statements and balance sheets to monitor the financial health of their business.
Zoho Books is part of a suite of products offered by Zoho. If you are already using other Zoho products, you’ll be able to easily integrate Zoho Books with any of these offerings.
The top features of Zoho Books include:
The receivables functionality module in Zoho Books will streamline your invoicing process to help automate the process of receiving payment from clients.
The payables functionality module in Zoho Books will help create, send, and manage bills.
Monitor stock levels and replenishment processes with the inventory functionality module in Zoho Books.
Know where your money is using the banking functionality module in Zoho Books.
The time tracking functionality module of Zoho Books lets you track and bill time as well as manage projects.
Store information on all your contacts within the Contacts functionality module of Zoho Books.
View dashboards, reports, and charts with the reporting functionality module in Zoho Books.
Zoho Books is the upgrade from Zoho Invoice. Effectively, if you have a 3rd party accounting system you may want to use Zoho Invoice for sending out invoices and getting paid. If you plan to use Zoho Books as your main accounting platform then you don’t need to use Zoho Invoice as Zoho Books has everything Zoho Invoice has.
In Zoho Books, you have complete control over your company’s income and expenses, mileage claims, VAT returns, and finance reports.
The dashboard gives a view of receivables and payables. The sales module gives you the ability to create invoices, recurring invoices, and payments that have been received. The system makes it easy to create a schedule of recurring invoices.
Since it’s a cloud-based accounting software, it’s with you always, whether you’re in the office or at the coffee shop. When using this software, I think back to when we’d call out accountants in business meetings for incorrect statement of accounts.
Now, we have many clients using Zoho Books and we manage their accounts from anywhere we are. Even for our accounting, we use Zoho Books. In fact, we may go to a client for a meeting and they ask for the statement of accounts right now, and I open up my mobile app and give it to them. Or we can just send it to them easily without even having to ask an accountant to print things out.
Overall I’m quite impressed with all Zoho Books can do. There’s a lot of functionality packed in here. I think the software fits nicely between invoicing software like Freshbooks, the micro business competitors like Wave and Kashoo, and it’s small business competitors like QuickBooks and Xero. If you haven’t checked out Zoho Books yet, I’d give it a try.