#9 Zoho Books Digest

#9 Zoho Books Digest

Hello readers,

Hope you all are keeping well. We are back with the 9th edition of Zoho Books Digest. Here's what we have in store for our community this month.

Upcoming Event

Title: KSA E-invoicing Seminar
Description: Zoho Books is coming to Saudi Arabia! Join us for this free event and get your business #Einvoicing ready as our experts address all your e-invoicing questions. Register and save your spot!
Date: 30/11/2021
Time: 4 PM GST (06:30 PM IST)

Feature Spotlight

Automation allows you to create rules for different modules that trigger appropriate actions. Within the realm of automation, we would like to highlight the Custom Function feature, which allows you to write small pieces of code to automate your business processes.

Take an example in which you are providing a discount of 5% on your customers’ invoices when they make an early payment. To automate this process, all you have to do is write a piece of code using Deluge script and link it to a workflow rule.

The custom function code will look something like this:

//if payment for the invoice is received after the invoice due date then discount won't be applied
jsonstring = "{\"discount\" : 0, \"reason\" : \"over duedate exceed\"}";
zoho.books.updateRecord("invoices", organization.get("organization_id"), invoice.get("invoice_id"), jsonstring.toMap());

Now, to execute this, you'll create a workflow rule:

Workflow rule name: Discount for early payment
Module: Invoice
Workflow type: Date based
Date of Execution: 0 day(s) after Due Date
Execution time: Enter the time of execution
Execution cycle: Once
Trigger: When > Status > isn’t > Paid
Actions Type: Custom function
Name: Name of your custom function

So if an invoice reaches the due date, the workflow will be triggered and the custom function will apply a 0% discount instead of the early payment discount of 5%.

What's New

Reporting Tags for Credit and Debit Accounts

When you transfer money from one account to another, you want to keep track of it. To easily identify transfers, we have now introduced two-way reporting tags. You can associate reporting tags with both your credit and debit accounts.

For instance, in an organization you can easily identify the amount transferred between two departments like your sales and accounting department or two different locations using the two-way reporting tag. This way, you can filter all your account transfers based on the tags.

To associate reporting tags with account transfers: Go to Banking, select a bank account, and click + Add Transaction. Select Transfer to Another Account or Transfer from Another Account, click Associate Tags, choose the tag you want to associate, and click Save.

All-New Bank Account Overview Page

We've redesigned the bank account overview page to enhance your user experience. In the new page, you will be able to view details and perform actions right from the Activity Summary section. You can perform the following actions from your bank account overview page:
  • View last import details and import statements
  • View last reconciliation details and initiate new reconciliation
  • View transaction details and create a new rule
  • View the check summary
  • Activate feeds
To access the bank account overview page: Go to Banking, select a bank account, and click the Overview tab.

Accounting Reads

Reconciliation is a fundamental accounting process performed by individuals and businesses to ensure that the actual amount of money spent matches the amount shown leaving an account at the end of a fiscal period. Check out our guide on bank reconciliation, which will walk you through the steps so you can reconcile your accounts accurately and easily.

In case you missed it

Last month we hosted the webinar "Intro to Advanced Analytics for Zoho Books," in which Brett and Tyler from Zenatta Consulting, along with the Zoho Team, shared the best practices for using Zoho Analytics as an advanced reporting tool. Check out the recording of the webinar.

Customer Corner

In this edition of Digest, we are thrilled to share the success story of Dr. Arun Muthuvael from Iswarya Fertility Centre.

Watch this case study to learn how connected banking in Zoho Books has helped Dr. Arun transform his healthcare business accounting.

We're eager to hear and share more stories about businesses using Zoho Books. If you would like to share your story with us, let us know in the comments and we will get in touch with you!

P.S.: Follow us on Twitter and Instagram, subscribe to our YouTube channel, and turn on your notifications to stay up to date on what we're doing!

Until next time!

Diksha Uniyal
Customer Relations | Zoho Books

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