Connected Banking with Yes Bank

Zoho ERP has partnered with Yes Bank to help you pay your vendors and employees quickly. Once you integrate, you will be able to:

• Make instant payments through IMPS, NEFT, A2A, & RTGS.
• Reconcile bank statements instantly with direct feeds.
• Check your account’s real-time balance and the status of transactions.
• Make advance payments to your vendors.
• Reimburse employee expenses directly from Zoho ERP.
• Disburse employee salaries through direct deposits.

Set Up the Integration

Once you have everything that’s mentioned in the prerequisites, you can start setting up the integration between Zoho ERP and Yes Bank. Here’s how:

• Log in to your Zoho ERP organisation.
• Go to Settings and click Vendor Payments under Online Payments.
• Select the Vendor Payments tab.
• Click the Set up Now button near Yes Bank.

To continue setting up this integration, select one of the following options based on your current account’s API banking status:

Registered for API Banking

• Click Yes for the Have you registered your current account for API Banking on YES Bank’s portal? option.
• Enter your Yes Bank Customer ID.
• In the First Half Password and Second Half Password fields, enter the two-part password sent by Yes Bank to your registered email address or mobile number.
• Select the Yes Bank Account that you want to integrate.
• Create a six-digit Secret PIN and re-enter it to confirm the PIN. This PIN will be used to authorise payments from Zoho ERP.
• Enter the Live Balance amount of your bank account with the exact decimal numbers as provided by Yes Bank.

• Check the I agree to the Terms and Conditions box after reading the terms and conditions.
• Click Set Up Now.

Zoho ERP will now be connected to your Yes Bank current account, and the account status will be shown on the screen.

Not Registered for API Banking

• Click No for the Have you registered your current account for API Banking on YES Bank’s portal? option.
• Enter your account details in the new tab and click Submit.

After submitting your account details, a Yes Bank representative will contact you to register your account for API Banking. Once your current account is registered, the bank will share a password in two parts via email or SMS. If your corporate account has two admins, each admin will receive one part of the password.

After you register your current account for API Banking, follow the steps mentioned in the Registered for API Banking section to integrate Yes Bank with Zoho ERP.

Add Vendor and Employee Bank Accounts

Once you have integrated, you can add your vendor and employee bank account details to start making payments.

To add the vendor’s bank account details:

• Go to Purchases and then Vendors and select the particular vendor.
• Click the More dropdown and select Add Bank Account.
• Enter the vendor’s bank account details in the pop-up that appears.
• Click Save.

You will have added your vendor’s bank account details.

To add employee bank account details:

• Go to the People module and navigate to the Employees tab.
• Select the particular employee or create a new employee.
• In case of a new employee, enter all the details in the employee profile, such as Basics, Salary Details, Personal Info and mark the payment mode as Direct Deposit in Payment Info section.
• Enter the bank account details and click Save and Continue. The IFSC will be verified once you enter it.

For existing employees, edit and update the payment mode to Direct Deposit.

Pay via Yes Bank

Once your vendor and employee bank account details are added, you can initiate payments via Yes Bank. Here are the supported fund transfer types:

Make Vendor Payments

Make Individual Bill Payments

You can pay your bills faster via Yes Bank using different transaction types. To pay bills via Yes Bank:

• Go to Purchases and navigate to Bills.
• Select the bill for which you need to initiate payment. If the bill is in Draft status, make sure you convert it to Open status.
• Click the Pay via Yes Bank button on the top bar.
• Enter the amount that you want to pay.
• Select the From Account from which you want to make the payment.
• Select the Transaction Type through which you want to make the payment.
• Click Proceed.
• Enter the Secret PIN that you had configured while setting up the integration.
• Click Initiate Payment.

The payment will be initiated, and you will be notified as soon as it is deposited into the vendor’s bank account.

Make Multiple Bill Payments

You can pay multiple bills from a vendor at a time. To pay bills in bulk:

• Go to the Payments Made module under Purchases.
• Click + New.
• Choose the vendor for whom you would like to make payment and select the option Initiate Payment via Yes Bank.
• Enter the payment details and click Initiate Payment.
• Enter the six-digit Secret PIN that you had configured during the integration setup.
• Click Initiate Payment.

Your payment will be initiated.

Make Advance Payments

You can make advance payments to your vendors if you’ve added their bank account details. To make advance payments:

• Go to Purchases and navigate to Payments Made.
• Click + New.
• Select the Vendor Advance tab.
• Select the vendor for whom you would like to make payment and select the option Initiate Payment via Yes Bank.
• Enter the payment details and click Initiate Payment.
• Click Yes, I’m Sure in the confirmation popup.
• Enter the six-digit Secret PIN that you had configured during the integration setup.
• Click Submit.

Your payment will be initiated from Zoho ERP.

Direct Deposit Employee Salaries

Once you have added your employee’s bank account details, you can start crediting salaries to the employees’ accounts.

• Go to Payroll and navigate to the Payruns tab.
• Generate a new pay run for the particular period and approve it.
• Click Initiate Payment.
• Enter the Secret PIN to authorise the payment.

The salary deposit will be initiated from Zoho ERP.

Reimburse Employee Expenses

• Go to Travel and Expense and then to the Reports tab.
• Navigate to the Awaiting Reimbursements section.
• Click the report you want to reimburse.
• Click the Reimburse dropdown and choose via YES Bank.
• Select the From Account and Transaction Type.
• Click Reimburse.

The reimbursement will be reflected in the employee’s account based on the transaction type.

Fetch Direct Feeds

You can fetch direct feeds from your Yes Bank current account into Zoho ERP. Fetching the direct feeds allows you to reconcile them with the transactions in Zoho ERP. After you’ve set up the integration, you can configure your current bank account to fetch the direct feeds.

To configure your bank account for fetching direct feeds:

• Go to Settings, and click Vendor Payments under Online Payments.
• Click the Add Account for Bank Statement button.
• Select the bank account for which you would like to receive direct feeds in the pop-up that appears.
• Select the date from which you would like to fetch your feeds.
• Click Add.
  OR
  Click Add and Next to add a new bank account.

Once you have set up direct feeds, Zoho ERP will fetch your bank feeds directly from your Yes Bank account. You will be able to reconcile the feeds with the transactions in Zoho ERP.

To reconcile transactions:

• Go to Accountant and navigate to Banking.
• Select a Yes Bank account. Bank feeds will be refreshed automatically when you log in.
• Go to the Uncategorised Transactions tab, and the bank feeds will be listed below.
• Select a bank feed and Zoho ERP will automatically suggest the best matches and possible matches.
• Click the Match button to match the transaction.

Now, the transactions will be matched with the bank feeds.

Disable Yes Bank Integration

You can disable the integration if you do not want to make payments via Yes Bank or want to change the account details.

To disable the integration:

• Go to Settings, and click Vendor Payments under Online Payments.
• Click the Disable button under Yes Bank.
• Click I understand, disable my integration in the pop-up, and the integration between Zoho ERP and Yes Bank will be disabled.
  OR
  Click Contact Support if you’re not sure about disabling the integration.