Zoho’s Finance apps partner with HSBC: Simplifying Online Business Payments

Zoho Finance - HSBC Integration

Online banking and accounting have typically lived in two separate worlds. Businesses used banking portals to make business payments and then came back to their accounting apps to record the same manually. Similarly, they had to import bank feeds and reconcile accounts the hard way. At Zoho, we have been trying to bridge this gap one step at a time. In 2018, we made headway by introducing a direct integration with ICICI Bank, merging the worlds of banking and accounting together on a single platform. Banks such as Standard Chartered, Yes Bank, and KMB followed suit.

In September 2021, we introduced the integration between Zoho Books and HSBC which automated reconciliation, provided real-time bank feed sync, furnished multiple payment options, and supported GST payments from within Zoho Books. Now, we are bringing the same integration with HSBC to other Finance apps such as Zoho Inventory, Zoho Expense, and Zoho Payroll. Let's dive right in to see all the different ways this integration will make it easier for you to pay your vendors and employees.

Settle vendor payments easily

Paying your vendors is now simpler than ever. No more switching to banking portals to initiate payments. Through HSBC, pay your vendor bills or make advance payments directly from Zoho Inventory and Zoho Books with just a few clicks.

In addition to being able to pay your vendors within India, you can now use the XACH transaction type to pay any vendor across the globe from Zoho Books.

Reimburse your employees online

Similar to the direct vendor payments, you can now send reimbursements to your employees effortlessly from within Zoho Expense. Every time an employee submits an expense report, it shall be reviewed by managers and once approved, you can send reimbursements to your employees' bank accounts directly through HSBC. This will be automatically tracked and recorded in Zoho Expense, thus saving you time and effort involved in recording reimbursement claims and making reimbursements manually.

Pay salaries directly

You can deposit your employees' salaries directly into their bank accounts without a hitch by integrating Zoho Payroll with HSBC. What used to be a cumbersome exercise of manually preparing payment advices and uploading them to banking portals to get their employees paid, is now simplified. With HSBC's automated direct deposit, the salary details will be auto-compiled and the salaries will be directly deposited to the employees' bank accounts on time, every month.

Secure your payments

At Zoho, security has always been a top priority. We know you're conscious about threats like unauthorised payments, phishing attacks, and hacking attempts. That's why we've tucked in multiple robust layers of security to ensure that your payments are secure from end to end.

To initiate a payment from any of our applications, you must complete a two-step authorisation. Firstly, provide the secret pin you've set up while configuring the integration. Next, authorise the payment from HSBCnet, ensuring safety at all levels.

Get more from your Zoho Finance apps

Do you use Zoho Books along with another app in the Zoho Finance suite? That means more benefits for you. When you integrate Zoho Expense, Zoho Payroll, or Zoho Inventory with Zoho Books, the data gets auto-synced with Zoho Books at regular intervals. For example, whenever you reimburse your employee through HSBC in Zoho Expense, the same will be posted under reimbursements in Zoho Books. This means you don't have to waste time manually entering this information in your accounting app. Similarly, the vendor payments you make in Zoho Inventory and the salaries you pay from Zoho Payroll through HSBC will get synced with Zoho Books, thereby ensuring that your transactions are always properly recorded in your accounts.

Transactions under Zoho Books

How do I get started?

Getting started with this integration is pretty easy. You can directly contact HSBC from our apps through a contact form and provide your details. A relationship manager will get in touch with you, help you set up an account if you do not have one already, and provide you with the integration credentials.

Learn how to set up this integration in Zoho Books, Zoho Expense, Zoho Payroll, and Zoho Inventory. If you need further assistance, send an email to hsbc-support@zohofinance.com.

With the beginning of a new financial year, there's no better time than now to integrate your Zoho apps with HSBC and facilitate effortless business payments for your organisation.


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