Zoho Books, created by Zoho Corporation, is accounting software tailored for small and medium-sized enterprises. It provides a variety of functionalities to oversee financial activities, encompassing tasks like invoicing, expense monitoring, inventory management, and generating financial reports. Recognized for its easy-to-use interface and seamless integration with various Zoho applications, Zoho Books serves as a holistic solution, enabling businesses to enhance the efficiency of their accounting procedures.
Zoho Books proves advantageous for small businesses leveraging additional Zoho applications for tasks like inventory management, invoicing, or customer relationship management. This cost-effective cloud-based accounting software automates business processes, excelling in invoicing, robust inventory management, and offering a user-friendly mobile app.
However, despite its feature-rich nature, Zoho Books faces limitations in scalability due to user constraints and a relatively modest selection of third-party integrations.
Zoho Books Pros and Cons
Advantages:
- Presents a complimentary plan for users.
- Boasts an extensive feature set, including standout capabilities in crafting invoices, managing inventory, implementing workflow rules, and featuring a highly capable mobile application.
- Enjoy round-the-clock phone and live chat support with all paid plans.
Drawbacks:
- Encounters limitations in terms of integrating with third-party applications.
- The top-tier subscription plan restricts user access to 15 individuals, offering the option to include more users for an additional monthly fee.
Zoho Books Highlights
Main Features
- Boasting potent reporting tools, it surpasses competitors in certain areas, although the number of reports may be fewer. Standout features include customizable invoicing, advanced inventory control in elevated plans, and an adept mobile app.
User-Friendliness:
- Streamlining reconciliation, the platform automates processes, automatically categorizes transactions, and empowers users to establish personalized bank rules. However, the absence of a global search function presents a distinct characteristic.
Scalability:
- Tailored for scalability, the premier plan accommodates 15 users, with flexibility to augment user count for an additional fee. Primarily suitable for enterprises with fewer than 100 employees.
Collaboration with Accountants:
- Offering transparency with audit trails and convenient accountant access, the platform may hold a niche presence compared to more prominent rivals like QuickBooks Online and Xero.
Integrations:
- While seamlessly integrating with under 50 third-party apps, options for direct payroll and point-of-sale integrations are somewhat constrained.
Support Services:
- Distinguishing itself with 24/5 phone and live chat support across all paid plans.
Pricing Structure:
- Providing diverse pricing options, including a complimentary plan, catering to a broad user spectrum.
Advanced Capabilities:
- Elevating functionality with project tracking tools in premium plans and innovative transaction tracking tags. However, it deviates by lacking industry-specific reports, and users managing multiple enterprises must subscribe separately.
Understanding the workings of Zoho Books
New users have the opportunity to explore the Premium plan of Zoho Books through a complimentary 14-day trial before committing to a subscription. To initiate an account, you’re required to provide essential details like your business location, company name, and email address. Following this, the integration of bank accounts, customization of invoices, and the establishment of a client portal for communication and feedback solicitation are pivotal steps.
Once the organizational profile setup is complete, acquainting yourself with the dashboard is advisable. The dashboard offers comprehensive insights into various key areas.
- Monitoring Cash Flow
- Managing Bank & Credit Cards
- Tracking Total Receivables
- Overseeing Total Payables
- Balancing Income & Expense
- Identifying Top Expenses
- Handling Projects
Exploring Features and Pricing of Zoho Books Plans
Tailored Plans and Pricing
1. Free-tier Experience
- Complimentary (available for businesses generating less than $50,000 in annual revenue).
- Access granted for a single user and an accountant.
- Exclusive client portal functionality.
- Tailored invoicing with automated payment reminders.
- Streamlined expense tracking.
- Mobile app convenience for on-the-go invoicing and mileage monitoring.
- Capability to manage 1099 contractors.
- Fundamental reporting features.
- Implementation of bank rules for seamless transaction categorization.
2. Standard-tier Offering
- Priced at $20 per month or $180 annually.
- Encompasses all Free-tier features, plus:
- Expanded access for up to three users.
- Comprehensive project expense tracking and task management.
- Introduction of reporting tags for nuanced transaction tracking.
- Inclusion of sales tax tracking.
- Billing flexibility based on project time allocation.
- Introduction of custom fields for invoice personalization.
3. Professional-tier Solution
- Priced at $50 per month or $480 annually.
- Includes all features from the Standard tier, with added:
- Access expansion for up to five users.
- Advanced capabilities in creating sales and purchase orders.
- Facilitation of multi-currency transactions.
- Customization of user roles.
- Integration of up to 10 workflow rules.
- Enhanced tracking of project profitability.
4. Premium-tier Package
- Priced at $70 per month or $720 annually.
- Incorporates all features from the Professional tier, with additional:
- Access extension for up to 10 users.
- Introduction of a vendor portal.
- Increased capacity for up to 200 workflow rules.
- Enhanced flexibility in crafting custom reports.
5. Elite-tier Selection
- Priced at $150 per month or $1,440 annually.
- Encompasses all features from the Premium tier, introducing:
- Specialized cash flow forecasting reports.
- Seamless synchronization with up to two Shopify stores.
- Robust management of up to five warehouses.
- Advanced capabilities in serial number tracking.
- Convenience in printing shipping labels and monitoring shipments.
6. Ultimate-tier Experience
- Priced at $275 per month or $2,880 annually.
- Embodies all features from the Elite tier, offering:
- Extended access for up to 15 users.
- Real-time access to view reports and dashboards.
- Collaborative report creation with colleagues.
- Convenient options for exporting or printing reports.
Zoho Books Perks: Unlocking the Key Benefits
Feature-Rich Platform
While Zoho Books may have a more modest report selection compared to certain competitors, its invoicing capabilities, inventory management features, and mobile app functionality are on par with QuickBooks Online.
Invoicing Excellence:
- Customize invoices with your business logo and preferred font.
- Convert estimates and set up automatic payment reminders for clients.
Inventory Management Advancements:
- Beyond basic inventory count, Zoho Books excels with low stock alerts, reorder points, and a complimentary barcode generator.
- The Elite plan introduces advanced inventory control, offering serial number tracking and seamless Shopify store integrations.
Mobile App Convenience:
- Scan receipts, access basic reports, send invoices, and track mileage using the mobile app.
Reporting Tags:
- Similar to competitors like QuickBooks Online and Xero, Zoho Books’ paid plans feature reporting tags for tracking transactions by location or department.
Cost Structure:
- Complementing the free plan catering to businesses with annual revenue below $50,000, Zoho Books offers five paid plans ranging from $20 per month to $275 per month.
- While the free plan lacks sales tax tracking and recurring expense capabilities, it includes customizable invoicing, reconciliation tools, and bank rules.
Exceptional Support:
- Standout feature includes 24/5 phone and live chat support for users on paid plans.
- Even the free plan receives email support, distinguishing it from some competitors like Wave Accounting, which limit users to self-service help centers.
Exploring Drawbacks in Zoho Books
Constraints in Integration
Zoho Books presents a notable drawback with a considerably reduced array of third-party integrations compared to industry counterparts like QuickBooks and Xero. This limitation positions Zoho Books as a more fitting choice for business owners already embedded in the Zoho app ecosystem. It’s imperative to ensure seamless integration with your existing payroll and POS software before committing to any accounting platform.
User Limitations
Zoho Books faces a user limit challenge, particularly evident in its Ultimate plan, which restricts access to a maximum of 15 users. In contrast, rivals such as Xero and Wave offer unlimited user accommodations. QuickBooks Online, while also imposing user limits, allows for up to 25 collaborators in its highest-tier plan. To surpass the user cap in Zoho Books, additional users can be incorporated at a cost of $3 per person per month.
Zoho Books Login: How to Login Zoho Books?
To log in to Zoho Books, follow these steps:
- Open your preferred web browser.
- Navigate to the Zoho Books login page by entering the URL: https://www.zoho.com/books/ in the address bar.
- On the Zoho Books homepage, locate the “Sign In” or “Login” button. Its available on upright corner of the homepage
- Enter your Zoho account email address and password in the provided fields.
- If you have enabled two-factor authentication, enter the code sent to your registered mobile device.
- Click on the “Sign In” or “Login” button to access your Zoho Books account.
In Which Areas Can Zoho Books Provide Solutions?
Zoho Books stands out as an effective solution for freelancers overwhelmed by accounting tasks. It streamlines invoicing, accounts receivables, taxes, and time tracking, offering automation to keep freelancers organized and in control. Whether starting from scratch or transferring data, Zoho Books simplifies the process with its user-friendly interface and a detailed User Guide available on the help page, complete with instructional videos.
Accessing Zoho Books is hassle-free, and for any issues like Zoho Books sign-in problems, users can rely on the support team reachable via calls or emails. The platform ensures financial visibility by allowing companies to monitor balance sheets and access real-time cash flow reports with just a Zoho Books login and internet-enabled device.
Conclusion : Is Zoho Books the Ideal Fit for Your Needs?
If you’re on the lookout for a cost-effective software solution with robust features, Zoho Books deserves consideration. It offers a variety of plans that cater to the needs of small to medium-sized businesses. However, if your requirements extend beyond user limitations or demand extensive integration capabilities, exploring alternative options might be worthwhile.
FAQs
What is Zoho Books?
Zoho Books stands as a comprehensive online accounting software solution, offering accessibility from any device, location, and time. This platform encompasses all essential features for effective business accounting. From handling invoices and facilitating payment collection to expense and inventory management, Zoho Books also excels in banking reconciliation and provides insightful reports for businesses seeking a holistic accounting solution.
Does Zoho Offer Free Plans?
Certainly, Zoho provides a free plan tailored for businesses with an annual revenue below $50,000. This option proves beneficial for startups, sole proprietorships, or home-based businesses seeking a foundational accounting system. The free plan grants access to a range of useful features, enabling the automation of accounting and bookkeeping processes without incurring significant costs.
What Additional Features Come with Zoho Add-ons?
Zoho provides three add-on choices: adding a user, snail mail, and auto-scans. These options empower users to expand their account with additional users, send physical estimates and invoices via mail, and utilize auto-scans to extract crucial data from financial statements seamlessly into the software.
Which Features Are Crucial When Selecting Accounting Software?
When selecting accounting software, focus on crucial features tailored to your business needs. Consider specializations like accounts payable, banking, retail functions (cost tracking, inventory management, sales tax), mobile app availability, customer service quality, and proficiency in accounts receivable and financial reporting.
How to use zoho books?
To use Zoho Books:
- Create or log in to your Zoho account.
- Choose a subscription plan.
- Explore the user-friendly dashboard.
- Enter key business data like contacts and products.
- Generate and customize professional invoices.
- Track and categorize expenses.
- Integrate bank accounts for reconciliation.
- Utilize reporting tools for business insights.
- Explore add-ons for extended features.
- Seek support if needed, and refer to the user guide for detailed instructions.
How to add opening balance in zoho books?
To add an opening balance in Zoho Books:
- Go to “Settings” and select “Chart of Accounts.”
- Edit the relevant account.
- Enter the opening balance in the designated field.
- Save the changes.
This ensures accurate financial records in Zoho Books.
How to create invoice in zoho books?
To create an invoice in Zoho Books:
- Go to “Sales” and select “Invoices.”
- Click “New Invoice.”
- Add customer details, set the date, and input line items.
- Customize settings like payment terms.
- Review and save the invoice.
- Send via email or print for records.
