Zoho Books -  HSBC Integration

Zoho Books has partnered with HSBC to enable you to perform banking functions from within Zoho Books. With this integration, you can check your live account balance, initiate bill payments, fetch bank feeds automatically and do more. It brings banking and accounting to one platform.

Benefits

Watch this video to learn how the integration works.


Set up the HSBC Integration

To set up the HSBC integration in Zoho Books:

Set up HSBC Integration

The link will open in a new tab where you can enter your organisation and contact details. The HSBC team will get in touch with you and help you create a new HSBC account (if you don’t have one already), or help you get the required credentials for your existing account.

HSBC Setup Credentials
Field Description
Profile ID The HSBC team would have sent you the Profile ID via email. 
Client ID The HSBC team would have sent you this Client ID via email.
Client Secret The HSBC team would have sent you this Client Secret via email.
HSBC Public Key The HSBC team would have shared this file with you via email and you will have to upload it. This field will only support formats such as pem, crt, txt, doc, and docx.
HSBC Bank Account You can select one of the bank accounts that was created in the Banking module, or add a new bank account and select it.  
Secret PIN Set a secure PIN that you will remember as you will use it to initiate payments in Zoho Books.
Configure HSBC Integration

Zoho Books and HSBC bank will be integrated.

Note: This integration is a user-level integration, that means that other admins or users will not be able to initiate payments on your behalf.

Add Bank Account for Bank Feeds

Next, you can add your bank account to fetch the bank feeds into Zoho Books automatically. To add:

Add Bank Account Add Bank Account Details

The connection between the bank account and Zoho Books will be established and the bank feeds will be fetched into Zoho Books from the date you’ve mentioned.

Check Your Live Account Balance

Once you’ve added your HSBC bank account, you will be able to check your live account balance from the Banking module whenever you need. To check:

View Live Account Balance

Refresh Bank Feeds

When you want to fetch the latest feeds from your bank account into Zoho Books, you can refresh the bank feeds.

Refresh HSBC Bank Feeds

The fetching of bank feeds will be initiated in the back end and you can continue using Zoho Books. The latest bank feeds will be available shortly.

Insight: In general, Zoho Books fetches the bank feeds automatically once every 24 hours.

Learn about categorising and matching transactions, adding transactions, creating transaction rules and more from the Banking module using your bank account.

Make Payments to Vendors

1. Add Vendor’s Bank Account Details

The first step in making payments towards a vendor is adding the vendor’s bank account details to the contact. To add vendor’s bank account details:

Add Bank Account Details Adding vendor's bank account

2. Initiate Payments

Once you’ve added your vendor’s bank account details, you can initiate payments from Zoho Books in three ways:

Pay Individual Bills

You can initiate a payment via HSBC for a bill in Zoho Books. To initiate payment:

Pay via HSBC button
Fields Description
Balance Due The total sum of the money due for payment for a particular bill.
Amount Enter the amount you would like to pay. You can make a complete or a partial payment towards the bill.
From Account Select the From Account from the list of HSBC bank accounts from which you can initiate a payment.
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 NEFT and RTGS.
Paying via HSBC

Warning: If you enter the Secret PIN incorrectly multiple times, the HSBC integration will be deactivated. You will have to disable the integration and set up the integration again to initiate payments via HSBC.

Enter Secret PIN

The payment will be initiated from within Zoho Books and you will have to authorise the payment from the HSBCnet.

Pay Multiple Bills

There are two ways by which you can initiate payments towards multiple bills:

  1. Pay multiple bills of the same vendor
  2. Pay multiple bills of different vendors

Pay multiple bills of the same vendor

New Vendor Payment button Paying multiple bills via HSBC Enter Secret PIN

Warning: If you enter the Secret PIN incorrectly multiple times, the HSBC integration will be deactivated. You will have to disable the integration and set up the integration again to initiate payments via HSBC.

The payment will be initiated and you will have to authorise the payment from the HSBCnet.

Pay multiple bills of different vendors

Pay via HSBC Multiple Bills and Multiple Vendors Enter Secret PIN

Warning: If you enter the Secret PIN incorrectly multiple times, the HSBC integration will be deactivated. You will have to disable the integration and set up the integration again to initiate payments via HSBC.

The payment will be initiated and you will have to authorise the payment from the HSBCnet.

Pay Vendors in Advance

You can make advance payments to vendors directly. To initiate an advance vendor payment:

New Vendor Payment button Making Vendor Advance Payment via HSBC Enter Secret PIN

Warning: If you enter the Secret PIN incorrectly multiple times, the HSBC integration will be deactivated. You will have to disable the integration and set up the integration again to initiate payments via HSBC.

The payment will be initiated and you will have to authorise the payment from the HSBCnet.

3. Authorise Payment in HSBCnet

If you had initiated a NEFT or RTGS payment from within Zoho Books, you will have to authorise that payment using File Level Authorisation (FLA). In FLA, you will have to authorise or reject a file which may contain one or multiple payments.

To authorise the payment from HSBCnet:

File Authorisation in HSBCnet Review Files Authorise or Reject file

Once you authorise the file, you’ll see a confirmation screen with the payment status and the details. This payment may be sent for further authorisations based on the authorisation structure that is configured at HSBCnet for the account. Once the payment is made successfully, the corresponding bill’s status in Zoho Books will be updated to Paid automatically.

Make GST Payments

  You can initiate payments towards your GST returns directly from Zoho Books. To initiate GST payments:

GSTR-3B Summary Pay GSTR-3B via HSBC

OR

Initiate payments from GST Payments Making GST payment Enter Secret PIN

Warning: If you enter the Secret PIN incorrectly multiple times, the HSBC integration will be deactivated. You will have to disable the integration and set up the integration again to initiate payments via HSBC.

The payment will be initiated from Zoho Books and the status of the transaction will be In-progress. Once you authorise the payment at HSBCnet, the payment status will be updated in Zoho Books automatically.

Disable the Integration

If you don’t want your Zoho Books account to be connected with HSBC, you can disable the integration.

Note: Disabling the integration will only remove the integration at Zoho Books’ end and you can set up the HSBC integration using the same HSBC credentials.

To disable:

HSBC Disable button Disabling HSBC Integration
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