Zoho Books Accounting Software

8.9Expert Score

Zoho Books Accounting software Review 2023

If you run a small business, then you have a lot of unique needs. Your time is valuable, so you need to make sure you find a program that values your time as well. This means streamlining your accounting processes to make it easier to keep track of everything that is going on. One of the programs you may have heard about is called Zoho Books. Even though this program has developed a strong reputation as one of the top accounting programs is this the right program for your business? Take a look at a few highlights below, and compare the features of Zoho Books to the needs of your business.

Price

8

Customer Service

9.5

Accounting Standard Features

9.5

Reporting

9.7

Integrations

8.7

Platforms

8.7

Time in Business

9.5

PROS

• Because this is a cloud-based accounting program, it is very easy to use. It does not have a steep learning curve, and even people who do not have a lot of experience with technical accounting programs should be able to learn the features relatively quickly.
• There is a convenient dashboard that easily displays all the information you need to make decisions about your business. You can also customize the dashboard to display the information you require to streamline your workflow.
• This is a program that has been specifically designed to help you save time. You can automate a lot of tasks that you currently do by hand, allowing you to put resources into other areas of your business.
• There is numerous helpful analytics that you can use to quickly make decisions about your company. That way, you can stay one step ahead of the competitors of your industry. You can also customize these analytics to meet your needs as well.
• Using this program, you have access to a wide variety of CRM integrations. That way, you can manage your contacts, leads, and employees with ease. This also makes it easier for your marketing and accounting teams to work together.
• If you have questions about Zoho Books, you have access to 24/7 customer support. They are always available through phone, chat, and email. That way, you can get answers to your questions relatively quickly.
• This is also a program that is great for service businesses. If you have to bill based on time, there are automatic invoicing features available that can help you.

CONS

• There is a limit on the number of transactions you can make through Zoho Books. The limit is 5,000, and if you run a large business, you are going to hit this limit relatively quickly. If you are worried about hitting the limit, you may want to reach out to Zoho Books to see what your options are.
• There are no options available for setting a budget. If you are trying to budget your business, you may have to use another program. This can make it hard if the two programs do not talk to one another.
• You also do not have access to any future that will help you with fixed asset management. This is an important part of your overhead expenses, and it can make it challenging to track your outflow.
• The storage space is severely limited. If you run a large business, you will not have enough space to keep track of all of your information. That is why this is a program that is largely meant for smaller businesses.
• The program does not feel well. If you have a business that is growing quickly, you will find yourself outgrowing Zoho Books in no time. This means that you may have to purchase a separate program and learn how to use something new.
• If you want to track your payroll using Zoho Books, this is an add-on feature. There are no integrations available, and this can make it a hassle.
• If you already have an accounting program, it will take you a long time to migrate your data into Zoho Books. You need the budget for this time, as it may impact your productivity temporarily.

An Introduction: What Is Zoho Books?

This is an accounting software component of the Zoho suite that uses the cloud to help small businesses manage their income and expenses. There are multiple accounting options available to make the finances of running a business much easier to manage. Even though there are some medium-sized businesses that have taken advantage of Zoho Books, this is largely a program that is meant for smaller businesses.

Overall, there are more than 40 applications available through the Zoho Suite. Even though many of these applications are meant to be used by larger corporations, the accounting arm of Zoho Books its still something that is meant for smaller companies. Once your business grows beyond a few dozen employees, it is probably time to look for a larger program.

Furthermore, many of the features available through Zoho Books have been modeled after other programs, such as QuickBooks. Therefore, if you have a lot of experience with other cloud-based accounting software programs, Zoho Books should be easy to manage as well.

The Main Features of Zoho Books

If you decide to go with Zoho Books, there are several important features you will enjoy. These include:

Accounts Receivable

One of the main features provided by this program is an invoicing feature. There are high levels of customization, you have access to useful templates, and you can automate a lot of the processes your accounts receivable department does regularly. There is also powerful encryption that will protect the confidential information of your business. Your clients can pay easily using credit cards or ACH using the payment gateway through Zoho.

Zoho Banking

Instead of having to worry about reconciling the data between your Zoho account and your bank account by hand, you can automatically import and categorize all transactions from your bank account or PayPal. There are numerous automations and bulk actions available that could make it easier for you to reconcile your information. There is also a banking dashboard available that lets you take a look at your finances, using visual reports to get cash flow for your business. This makes it easier for you to manage the ins and outs of your company.

Accounts Payable

There is also a helpful accounts payable feature. Online accounting software through Zoho books allows you to manage the expenses of your business. You can convert your purchase orders into bills with a single click. You can also set up recurring bills. There is an automatic workflow available for expense tracking, allowing you to monitor and categorize all of your financial information. That way, you can make sure all of your balance sheets are up-to-date.

Inventory Management Features

If you have products you need to sell, Inventory management through Zoho books is one of the biggest selling points of the program. You can organize all of your inventory, customizing every detail. You can also set reminder thresholds, allowing you to automate your purchase orders to ensure you manage your inventory appropriately. Zoho inventory is a free, Advanced option that gives you access to 25 online and offline orders per month. Then, if you need to upgrade the number of transactions, you can do so for an additional fee.

Reporting

If you want your business to stay on track, then you need to keep track of your reports. Fortunately, you can use this application to create more than 50 reports, customizing the data in each individual report. Then, you can also customize your dashboard to present the most relevant information to your company. This includes your balance sheet, profit-and-loss statements, and cash flow. You can set these to run automatically, making it easy for you to pay employees, keep track of your budget, and generate helpful information for tax season. Take advantage of all the features provided by the reports through Zoho Books.

Time Tracking

Time tracking is another important feature that is available through Zoho books. If you have numerous contractors and hours you need to keep an eye on, you can take advantage of the mobile app through Zoho books or the time. You can also log hours daily, weekly, or months they use in the cloud software program. You can make sure your team collaborates, assigning tasks to the right person. Unfortunately, all time does need to be linked to a specific project if you wanted to be included.

Contact Management

Contact management is also relatively easy through this program. You can keep track of contractors, customers, and vendors, managing all of their details. You can also store their individual payment details securely, making future transactions relatively easy. There is also a client portal available that makes it easy for your clients to view invoices, estimates, and project details. That way, you can make sure everyone stays in the loop when it comes to your business. You can also set your profile to receive notifications when someone pays an invoice. You can even use this feature to manage reviews.

Zoho Books: The Pros and Cons

Even though Zoho Books does have a lot of features, you need to make sure this is the right plan for you. Therefore, it is important to take a closer look at the benefits and drawbacks.

Make sure you think carefully about the pros and cons of Zoho Books before you make a decision. If you have questions about any of the features included in Zoho Books, make sure you reach out to a customer support representative who can assist you.

Pricing Plans Available Through Zoho Books

There are multiple pricing plans available through Zoho Books that you can choose from. These include:

• The basic plan is $9 per month and provides functionalities for three users, five automated workflows, and 50 contacts. Some main features of this plan include invoices, projects, account reconciliation, and expense tracking.
• The standard plan is $19 per month and provides functionalities for three users, ten automated workflows, and 500 contacts. Some main features of this plan include reporting tags, vendor management, bill tracking, and check printing. It also includes all features of the basic plan.
• The professional plan is $29 per month and provides functionalities for ten users, unlimited automated workflows, and unlimited contacts. Some of the main features of this plan include inventory tracking, sales orders, and a customized portal. It includes all the features of the standard plan as well.

The plans are very easy to understand. You can customize them to meet the needs of your business. That way, you can make sure you get what you need without paying for something you don’t require. If you have questions that what the plans include, the customer service Team at Zoho Books is available to answer them for you.

What About the Premium Add-Ons?

Unfortunately, not every feature is included with the plans above. If you are looking for something additional, you may have to pay for it as a premium add-on. At the same time, this makes it easier for you to customize a program to meet your specific needs. Even though it can get expensive if you are adding on all of the services below, it does allow you to create something that has been designed specifically for your company.

A few of the most popular add-ons include:

• If you need to add additional users to your profile, this is $2 per month per user.
• If you would like mailing services for contracts, checks, and other important documents, it is $2 for each domestic document and $4 for each International document. Unfortunately, their deliveries speeds are relatively slow, so you may be better off going with a different service, particularly if you need to send something overseas.
• If you require access to payroll services, you can add this on for $19 a month for three employees. If you need access to more employees, this is $2 additional per month per employee.
• If you would like to invest in automatic scanning for your receipts, invoices, and other important documents, this service is $5 per month for 50 scans per month.

Finally, if you find yourself needing access to other applications through Zoho, you can purchase the Zoho Finance suite for $149 per month. This includes a wide variety of products including Zoho invoice, Zoho inventory, Zoho expenses, Zoho subscriptions, and Zoho checkout. Underline all of them together is more affordable than purchasing all of them separately.

Mobile and Cloud Features Through Zoho Books

Zoho Books is a cloud-based accounting software program. Therefore, everything you do through this program is going to be on the cloud. This is perfect for businesses that have a lot of employees who work remotely. This is also ideal for companies that have employees who are commonly out to go. This makes it easier for people to stay in the loop even when they are not in the office.

Furthermore, you also have access to mobile applications that will work on just about every platform. Whether your employees use iOS or Android, Zoho Books has a mobile application that is available. If you decide to upgrade to the Zoho Finance Suite, you will also have access to mobile functionality for these products as well.

A Summary: Zoho Books Is a Strong Accounting Software Program for Small Businesses

In the end, Zoho Books is a strong accounting software program that is great for smaller businesses. In contrast to many of the other applications that are provided by this company, which are meant for larger corporations, this is a great accounting program for businesses that are still starting out. It is affordable, provides you with access to a wide variety of features, and allows you to customize your features to meet your specific needs.

On the other hand, this is not a program that is meant for larger companies. There is a strict transaction limit, and you will have issues with premium add ons because they can get expensive. Furthermore, you have relatively limited storage space, and it can take a while to migrate your data. Therefore, you should think about the benefits of Zoho Books and compare them to the drawbacks before deciding if this is the right program for your business. Overall, this is a very strong accounting program, particularly for smaller businesses, which is why it has a spot on our list.