Title alone is a giveaway. You have two or more customers with duplicate records in your Zoho Invoice or Zoho Books customer list. Reason for their existence could be :
1. You recently imported accounts and contacts from Zoho CRM and there are duplicate customer names staring at you.
2. You and your colleague unknowingly created the same contact under two different names. One as ‘Jane’ and another as ‘Jane Thomas’.
End Result : There are two sets of data (invoices, estimates,expenses..etc.,) running parallel for the same customer. You are annoyed and want to delete everything and start fresh… Pause .. Take a deep breath.
A little while ago we introduced ‘Merge Customer’. This tiny, yet powerful feature in Zoho Invoice and Zoho Books lets you merge your customer data so you won’t have to worry about twin records anymore. What it essentially does is, maps the duplicate record to the master record (customer which you wish to keep) and transfers all the data like invoices,estimates,etc., to the master record. Read more about ‘Merge Customers‘ in our Help section
Also, as a time saver, we’ve introduced the ‘Merge’ button right on top of the customer list page. You can check all the duplicates and merge them all at once.
Go ahead and start merging. Let us know what you think.
After some careful analysis on the feature requests and our forums, we identified another pain point for our users. Multiple Bill payment for a vendor.
Imagine this. It’s a bright sunny day, you reach office and get a frantic call from your vendor to clear your several outstanding bills. Not a result of your poor time management skill but just one of those days when everything on your to-do list goes awry. You want to resolve this as soon as possible so that you can go back to your planned activities. You pay your dues and click open your accounting software to do the tedious task of recording the payment ONE by ONE
Well that was ‘before’. Now Zoho Books allows you to record payment for multiple bills for a vendor from ‘a single screen’. You click on the magical button ‘bill payment’ and all the outstanding bills are listed on a single screen. Enter partial or full amount against the individual bills and save. You now save time which you can devote to growing your business.
Wait wait… we got more news !
If you are a business owner, chances are apart from receiving customer advances, sometimes your supplier may request for an advance payment for the supplies or goods delivered to you. You can use the same magical button ‘bill payment’, enter the advance amount and save it. When creating future bills for the same vendor, Zoho Books will remind you of the existing credits available which you can use to pay the bill.
Hope this little feature solves your problem. Do send your feedback in the comments below and stay tuned in for more updates coming your way!
As the new year unfolds, Zoho Invoice and Zoho Books brings glad news to one and all especially those weary folks troubled by monotonous work.
Our developers had been elbow deep in some amazing coding this past few weeks and now we bring to you a revised and revamped customer payment feature. You can now record advance payment and record payment for multiple invoices all from a single screen.
Let’s say your customer makes a one-time payment for three different invoices. How would you show this in your Zoho Invoice account? Click on the video below to unravel the secret.
Whoa…was it that simple? Yes it is. Not just in Zoho Invoice, but it is possible even in Zoho Books along with some crucial accounting principles taken care of in the background.
Was something missing with the old invoice payment method?
Effective as it was, the old process was time consuming because you could add payment only to individual invoices. With the new additions, payment received from a customer for multiple invoices is possible from one single screen.
Did you know advance payment received is not actually your income…yet?
Companies need to record advance payment received from customer as ‘unearned’ revenue and not earned revenue as the service is not yet delivered. If the amount is recorded as sale/income, you will get a bloated figure in the financial statement which is not the accurate picture of your business’ performance.
Let’s see how this is smoothly tackled in Zoho Books.
Joggle your memory and from the video you’ll recollect that an advance payment of $200 is recorded for Jane’s next project. Our super cognitive accounting software will reflect the amount in the cash flow statement as ‘Unearned Revenue’. At the time of Jane’s next invoice payment, you decide to use the excess payment available. From the remaining balance of $200, you use $100. The Cash Flow will now reflect as below
Cool isn’t it!
Do visit our help page for more information on Advance Payment and Multiple Invoice Payment.
Now we are onto our next work item with great gusto and in the meantime, please drop us your feedback in the comment section.
We are aware of the fact that Zoho Invoice has helped a lot of small businesses, freelancers and service providers to streamline their invoicing process. Here is an example of a full service law firm, HMLC that is based in Dubai, United Arab Emirates. The law firm that has a multi-lingual team of attorneys and consultants has benefited by using Zoho Invoice. HMLC has several branches across three continents. The firm efficiently and accurately sends numerous estimates and invoices every month using our invoice software. A few weeks back we had a discussion with Eric Alksibati, a senior lawyer with HMLC and a specialist in commercial and corporate law.
HMLC was previously using a local invoice software in Dubai. Over time they felt it was inefficient as they had to fix numerous errors at the time of creating an invoice and the result was they were unable to send out invoices on time. The law firm first used Zoho Creator and then discovered Zoho Invoice. Now it has been using our invoice software for so many years and our software facilitates to organize the law firm’s time management and client billing needs.
Billing clients on time is vital to any law firm. With Zoho Invoice we send quotes and invoices to our clients on time and get paid fast. To be honest, it’s very easy to use, great software. I highly recommend Zoho Invoice to anyone. – Eric Alksibati
Generating client invoices from billable time records and accurately billing its customers on time ensures that the law firm gets paid on time. Click here to read more on the law firm’s success story
Ever since we launched Zoho Books in the first quarter of 2011, there have
been numerous requests from our customers to help them move their accounting data from their existing system to Zoho Books. We are on the threshold of a brand new year and there is no better time to leave your old accounting software behind and move to Zoho Books. We have worked hard to make the switch over as simple as possible regardless of your current accounting system – be it QuickBooks or even Microsoft Excel.
To switch to Zoho Books all that is to be done is to choose an appropriate
migration date, note the account balances in your current system as of the migration date( i.e. run a trial balance report in accountant speak) and enter the balances in Zoho Books. This would ensure that all your financial reports like balance
sheet and profit & loss statement display the same figures as your
Once this is done, you can import your open transactions like unpaid invoices and bills into Zoho Books. If you buy or sell goods in foreign currencies, the migration process handles the transfer of foreign
currency account balances as well.
I spoke with Keng Swee recently, a Zoho Books user and founder of VMom Pte Ltd., a print media company based in Singapore. His company serves clients ranging from banks to integrated resorts. Keng manages a small yet passionate team of seven. Zoho Books helps him to stay up-to-date on his bookkeeping tasks. And he cleverly makes use of Zoho Books’s unique invoice custom template feature to send delivery orders.
Keng’s familiarity with Zoho Invoice prompted him to migrate to our accounting software. He has a necessity to create numerous invoices and quotes for his day-to-day business. He happily said:
I make use of Zoho Books custom templates to send quotations to my clients. The templates are easy to customize and are extremely user-friendly.
Keng has experience in using Zoho CRM as well, he finds the product to be intuitive and more responsive. Click here to read the full interview with Keng Swee.
Take any popular
accounting software today, be it a SAAS player like us or our desktop counterparts or even the entreprisey ERP solutions, and I bet they all are based on double-entry accounting. For the uninitiated, double-entry accounting is a system of bookkeeping that enforces recording two aspects of a financial transaction – one that indicates the source of amount involved and another to indicate how it is put to use. It is said that this method was first codified by Luca Pacioli, an Italian monk in the fifteenth century (and I’ll leave it to The Almighty
Wikipedia to explain the rest).
It is fascinating to see that a system devised to catch financial inaccuracies six centuries back still finds its place in the world of accounting software and remains largely untouched. This when accounting software by itself is undergoing a transformation of sorts from desktop to the web.
To explain this phenomenon, let me first enunciate the benefits of manual double-entry accounting. Double-entry accounting is advantageous because it:
Is self-balancing in nature, enforcing arithmetical accuracy.
Makes it to easy to understand the source and uses of funds.
Ensures all aspects of all financial transactions available in a single place, so preparation of financial statements is easy.
Helps in fraud detection.
All of these are extremely helpful in producing accurate financial statements. And when human beings step aside and software takes over, much of these benefits still hold true. The reason for this is that double-entry accounting enforces some sort of a relational structure on the way transactions are recorded. For example, an accounting software would still record the two sides of a financial transaction and moreover, all of these are typically recorded in a single place (table in Relational database parlance), which makes it easier to summarize financial information.
Alternative accounting models like
REA (Resources, Events and Agents) that did away completely with double-entry and models that retained the double-entry flavor but tweaked other aspects failed to take off. My reasoning for this: the traditional double-entry model was deeply ingrained in the business person’s and accountant’s psyches, and it was never going to be easily changed. Also, amongst the more complex accounting alternatives, double-entry has remained one of the easiest and most effective solutions.
The accounting software industry will definitely undergo some changes in the times to come, but double-entry accounting will be as relevant as ever. And I bet somewhere up there Luca Pacioli must be smiling.