Just In: Read-Only Mode for Zoho Invoice and Zoho Books

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Continuing from where we left off on the Read-Only mode update for Zoho services, we are happy to announce that Zoho Invoice and Zoho Books services too are now running in read-only mode from our secondary data center in the New York metro region. You can access the services via the below mentioned URL’s.

Zoho Invoice: https://invoice-ro.zoho.com

Zoho Books : https://books-ro.zoho.com

What you’ll see here is an exact replica of your data which is stored in our secondary data center. If an unexpected outage renders the primary data center inaccessible, you’ll still be able to access the read-only mode of your account.

What you can do : Search any record you want,  run unlimited reports and also export various entities like the invoices list, estimates list, Items list etc.,

What you can’t do: As this is a read-only mode, you will not be able to add, edit or delete any record. Integration with other applications like Zoho CRM or Zoho Project is also not possible as it involves adding or modifying records.

We understand the importance of having access to your data all the time, therefore we wanted to kick in the read-only mode to our customers as soon as possible. Go ahead and bookmark (Ctrl+D) the website links and access it anytime you want.

Import Bank Statements into Zoho Books in 3 Quick Steps

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In our last post, we had announced feeds from more than 2000 banks in Zoho Books and we’ve been getting some great feedback from our customers. For those who still haven’t been able to enjoy the benefits of automatic bank feeds, you can still reduce data entry to a considerable extent by importing your bank statements directly into our accounting software.

All you have to do is ‘Select’, ‘Map’ and ‘Import.’
Import Bank Statements in accounting softwareSelect: Your first step, requires you to select the ‘statement’. Begin your journey by getting hold of an electronic format of your bank or credit card statement (CSV or TSV file) and feed it into Zoho Books. Choose your preferred amount column format, so your withdrawals and deposits may be arranged by Zoho Books in the right manner.

Map: Your next pit stop is the ‘Map Fields‘. Here you get to match the bank statement column headers to Zoho Books headers. If you plan to import statements frequently, then a quick tip to save time would be to click on ‘save your selection’ as shown in the image below. Next time you import, fields will be automatically mapped.

 

Save selection while mapping fields

Import: Your final step in this short journey ends with Zoho Books letting you know if the mission was accomplished, by giving you an import summary. Once you click the ‘Import’ button, all your transactions will be available in Zoho Book.

Take a look at out help document for more information on importing statements. This feature considerably reduces the time to reconcile your bank and credit card accounts. We hope you like it. Send us your feedback in the comment section below.

Zoho Books: Get Bank Feeds from Wells Fargo, Chase and many more

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In March, we had announced the release of the Bank Feeds in Zoho Books. Last week, we added more than 2000 banks from which you can get feeds. Now, a lot more of you can automatically fetch your bank, credit card and PayPal transactions right into your Zoho Books account. It means that you have instant access to real-time update of your accounts and your days of manually feeding transactions into your accounting software are almost over.

Bank Feeds in Zoho Books

Bank Feeds were already available for banks such as Chase, Bank of America, Wachovia and many more. This update, includes banks which require a second level of security clearance, which is something more than your username and password. Security could be in the form of an answer to the question provided to the bank or a token sent to you, which you need to provide for further access to the data. Such banks are clubbed together as banks with MFA or Multi-Factor Authentication. Some of the top banks included in the list are

  • Wells Fargo – United States
  • Regions Bank – United States
  • The Bank of New York Mellon – United States

There’s many more!

Quickly log into our accounting software to activate your bank feeds and let us know how it worked for you. This update was much awaited and we hope this information will prove to be of much use to our users. For those of you, who still haven’t activated your bank feeds, please go through our help documentation for more information.

Stay tuned for more updates on bank feeds.

Customer Spotlight: Nubifer’s search for an accounting software ended with Zoho Books

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With companies relying more and more on newer technology to remain competitive, it becomes crucial for the decision makers to be aware and unbiased towards better solutions. Reduced IT costs, faster implementation and better collaboration is making the technology heads see cloud computing in a different light.

Nubifer TeamNubifer Inc has taken it upon themselves to help companies welcome cloud computing with open arms. Their talented consultants, along with their slew of products and services like SaaS (Software as a Service), CRM (Customer Relationship Management) , HRIS (Human Resource Information Systems), PaaS (Platform as a Service), enable companies to migrate to the ‘cloud’ smoothly and cost efficiently.

A firm believer of cloud services, Nubifer themselves were looking for a cloud enabled accounting software to manage their business finances. Richard Ross, Director- Business Operations at Nubifer, Inc says, “We were looking for a right fit of applications for our company.”

And a year ago, they found Zoho Books! In Richard’s words,

In Zoho Books, I can create 10 invoices in like 2 minutes. We now have a  central location of all our financial data and it’s easy to keep track of invoices, expenses, customers, everything at one place.

Read on to find more about Nubifer and it’s search for cloud based accounting software.

Customer spotlight: Mobafone simplifies its accounting with Zoho Books

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Mobafone case studyOur accounting software continues to entice the customers by simplifying and streamlining their accounting processes. One of our happy customers, Jerome Schultz, General Manager of Mobafone GmbH found Zoho Books to be perfect for his business needs. His company engages in mobile application development and mobile service consultation. Being in the industry for more than a decade, the company aims to create unique customer experiences in the mobile internet space by developing the most innovative mobile apps.

Jerome is based in Germany but he frequently visits Mobafone’s offices in Thailand and Indonesia. Jerome would be away from Germany for almost half a year which means he has to record mutiple transactions while he is on the move. As Mobafone’s operations spans three countries, accounts have to be up-to-date which would also involve multi-currency transactions.

The company which already uses some of Zoho’s apps such as Zoho Creator and Zoho Projects was exploring for a cloud-based accounting software. The most vital reason that prompted Mobafone switch to our accounting software was Zoho Books’ integration with Google Apps and also that it is cloud-based.

Now that, Zoho Books simplifies bookkeeping and keeps Mobafone’s accounts in control. Managing accounts in multiple countries and currencies is not a painful task anymore. Click here to read the complete story as how Zoho Books saves time and improves productivity for Mobafone.

Zoho Books Gets Even Easier to Use With Automatic Bank Feeds

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We’re always looking for ways to simplify life for our customers. We are thrilled to announce a major update to our accounting software, Zoho Books: You are now able to connect your bank and credit card accounts securely and automatically download transactions right into Zoho Books.

Reduce manual data entry
Let me illustrate with this with a simple example. You’ve bought a flight ticket using your credit card. To keep track of this in your accounting system, you’d need to manually classify this as a Travel Expense and enter multiple information including the amount, date, reference number, the airline from whom the ticket was purchased etc. This is tedious and can lead to mistakes. Even after going through this you are still not done – you still need to reconcile this with your bank statement. This is just one transaction. Imagine doing this for hundreds of transactions and the time wasted quickly adds up. We all have got better things to do!
But when you opt to receive automatic bank feeds, Zoho Books pulls in transactions from your bank accounts and all you’ll need to do is classify this as ‘TravelExpense’.

Auto-classification of Transactions with bank rules
Furthermore, Zoho Books allows you to specify how you want to classify the bank and credit card transactions, taking this closer to zero data entry. Continuing with the same example, you can tell Zoho Books to classify all purchases that in the description have ‘Southwest Airlines’ as “Travel Expense”. Voila! Absolutely nothing to enter and completely error free again.

We Support THOUSANDS of Banks 
Currently we support several thousands of banks that we are able to receive feeds via Yodlee. However, these do not include banks that require multi factor authentication. We will include these banks in our upcoming product upgrades. Yodlee is the world’s leading provider of online banking solutions and banks world over use Yodlee to automate aggregation of account data.
So what if your bank is not there in the list of automatic feeds? Don’t worry, we also allow you to import a CSV file bank statement. You still can gain massively from auto-categorization and avoid data entry. You just need to upload the statement yourself instead of Zoho Books doing it for you.

To learn more about this, visit our tour page.

This has been a top-requested feature from you, our customers. We can’t wait to have you try it out and let us know what you think.

Fresh updates on exchange rate in Zoho Invoice and Zoho Books

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When running your own business, it’s mighty difficult to keep track of everything. Your memory cells will plead for mercy if asked to remember the exchange rate entered for every currency ever used.

Keeping that in mind, in Zoho Invoice and Zoho Books, you can:

  • View last set exchange rate: Exchange rate set for a customer’s currency is now saved in settings. When creating a new invoice for the same customer, system reminds you of the last set rate. You can choose the existing rate or set a new rate or set a new rate just for the invoice. There’s more flexibility as you can modify them whenever you want. New rate does not affect your old invoices. If you want to view the rate set by you on a given date, just go over to the exchange rate history page in settings.

Exchange Rate

  

  • Recalculate Item Price : Another thing to take note of, are the item prices which you would probably have stored as per your currency. You can’t run around looking for a calculator everytime you want to recalculate the item price. Just select your customer’s currency in Zoho Invoice and have the price recalculated for all the items in the invoice.

  • Import and export exchange rate: Why type when you can just import it all in quick and easy steps. Get the data from one of the currency conversion sites as a CSV or TSV file and pull it in Zoho Invoice smoothly.

Learn more about setting the exchange rate for a currency in our help section. ​We hope you like the additions and it comes in handy when tackling the ever fluctuating rates. You can add your suggestions below or even share  how you manage the rise and fall of the exchange rate for your business.