Zoho Books - ICICI Bank Payments Integration

Zoho Books now partners with ICICI Bank - one of the largest banks in India to let you make payments directly from Zoho Books. Let’s take a scenario to explain this better:

Scenario: Peter runs a retail business. He makes and receives payments online for all his sales and purchases. Logging into his bank’s internet banking portal everytime to make a payment makes it inconvinient and time consuming. He immediately integrates his Zoho Books organization with his ICICI Bank Corporate account. He now settles bills and even makes advance payments–all without logging into the ICICI Bank CIB (Corporate Internet Banking) Portal.

Watch this video to learn how the integration works!


In this page:

Benefits of the Integration

Connecting to ICICI Bank

Connect your corportate bank account to Zoho Books by following these simple steps:

1. Setup

Set Up ICICI
If you are a new user to ICICI Bank:

New Account

Request New Account

The bank executives will get in touch with you and help you open a new account. Once you have received your User ID and Corp ID, you will be able to integrate your ICICI Bank account with Zoho Books.

If you are an existing user of ICICI Bank:

Integration Set Up

Integration Set Up

Warning: Once you have set up the integration with these credentials, you will not be able to edit them in Zoho Books. You must disable the integration and set it up once again with the new credentials.

2. Approval

After initiating the integration, you need to approve it in the CIB Portal to complete the integration. Untill then, your Account Status will be Pending.

To approve the integration:

Pending Activities

Insight: If you haven’t created a Login ID for your CIB Portal, enter your CorpID.UserID in the given field.

Portal Login

CIB Portal Dashboard

Connected Banking Approval

Terms and Conditions

Confirm Integration

Check Integration Status

Once the integration is active, you will receive a notification in Zoho Books and your account status will be Active. You can also select your primary account to make payments under Pending Activities.

Check Integration Status

Adding vendor’s bank account details

Once you have integrated your bank account, you can add your vendor’s bank account details to start making payments from Zoho Books. To do so:

Add Vendor Account Set Up ICICI

Making payments via Zoho Books

Once you have added your vendor’s bank account details, you can start making payments. In Zoho Books, you can:

Make Bill Payments

Make quick payments to your vendors when a bill is received and settle dues. To start making payments:

Pay Via ICICI Button

Payment
Fields Description
Balance Due The total sum of money due for payment.
Amount Enter the Amount you would like to pay. You can choose to make complete or partial payments towards the bill.
From Account Select the From Account from the list of bank accounts linked to Zoho Books from the dropdown.
You can view your account balance and also make it your primary account to make payments by checking the Make this primary option.
To Account Select the account to which you would like to make the payment.
Transaction Type Select the Transaction Type from the available fund transfer options.The modes of fund transfer available are ICICI Bank Fund Transfer / IMPS /RTGS and NEFT.

One Time Password

The status of your payment will be either Cleared or Uncleared in the Payments Made tab based on the transaction type and the approval workflow you’ve chosen.

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Insight: A transaction is in the Cleared status when the payment made has been deposited to the vendor’s account.
A transaction is in the Uncleared status when the payment has not yet been deposited in the vendor’s account. A few reasons for this include the transaction type chosen or the checker not approving the transaction.

If you have enabled an approval workflow in your CIB portal,

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Make Bulk Bill Payments

You will be able to make payments for multiple bills at once to a single vendor using this integration. Here’s how:

Bulk Payment

Make Advance Payments

You will be able to make advance payments for your vendors once you add their bank account details. To make advance payments:

Advance Payment

Make GST Payments

When you’ve integrated Zoho Books with ICICI Bank, you will be able to make payments for your GSTR-3B. Learn More.

Fetching Direct Feeds and Reconciling Bank Statements

This integration allows you to set up Direct Feeds to fetch feeds directly from your bank account to your Zoho Books organization. This allows you to reconcile your bank transactions with those in Zoho Books. Once you have finished setting up the ICICI Bank integration, you will be able to add your account to configure direct feeds. To receive direct feeds:

Add Account for Bank Statement

Select bank account

Note: You will also be able to add your bank account by navigating to Banking > Add Bank or Credit Card > ICICI Bank under Partner Banks.

Once you have set up direct feeds, Zoho Books will fetch your bank feeds and you will be able to reconcile bank statements. To reconcile transactions:

Uncategorized Transactions

Exact Match

Learn more about the Banking module.

Note: If you have not migrated to ICICI Bank Direct Feeds, you will be prompted to switch your bank feeds to the direct feed integration. Direct feed integration helps you to receive feeds quickly without any third party interference and find exact matches for your transactions.

Disabling the Integration

If you ever want to stop making payments via your ICICI Bank account from Zoho Books or change your account details, you can disable the integration.

Warning: Disabling the integration in Zoho Books will disable it from other integrated Zoho Finance applications as well. Once disabled, you will not be able to track the status of any uncleared transactions. The direct feed integration will also be deactivated along with the payments integration.

To disable:

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Pro Tip: You can receive online payments from customers by integrating your ICICI Bank account with eazypay. Learn More.

Bring banking and accounting under one roof with the ICICI Bank integration.


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