We are back again with a set of new features and enhancements lined up for you this month. From introducing the ability to lock individual modules during the end of an accounting period to adding a wide range of enhancements for reports, read on to know all the features and enhancements we have released in the previous month.
Lock individual modules
Besides locking all transactions before the end of an accounting period, Zoho Books now provides you with the option of locking individual modules.
Sometimes, organizations have different departments for sales, purchases, and so on, that are managed by their respective leads. They all might not want to lock the transactions of the modules they’re responsible for on the same date. If you have a similar organization structure, you can now lock the transactions based on individual modules instead of locking all transactions. For more details, head to our help document.
To lock transactions: Go to Accountant > Transaction Locking > Select a module and click Lock.
Track staff costs by the hour
If you run a business that pays its employees by the hour, the Admin users in your Zoho Books organization will now be able to associate the cost per hour for each user. This helps to track the amount of time spent by each user on their task for a project and the cost incurred.
The details of the staff cost based on the time spent for a task by a user will be available in the Timesheets tab in the Projects module.
To enable this: Navigate to Settings > Preferences > Projects > Enable the Track cost for time entries option.
Custom Buttons & Links for customer & vendor payments
Businesses can create custom buttons and links for payments to gather and record payment data in Zoho Books from platforms like Zoho CRM, third-party apps, and so on. Similarly, you can create custom buttons and links for your customer and vendor payments based on the requirements of your organization.
Create price lists with volume pricing
It is common for businesses to offer discounts for bulk purchases. For such cases, you might want to set the price for the item based on the quantity sold or purchased. You can now create price lists for such items using volume pricing.
Once you set the price lists with volume pricing for each line item, the item's price will automatically be updated based on the quantity of the item.
To create price lists with volume pricing:
Go to Price Lists > Click + New Price List > Under Pricing Scheme, choose Volume Pricing.
Send SMS notifications for outstanding customer balances
Notify your customers about the outstanding balances they owe automatically by sending them an SMS. Zoho Books offers a set of SMS templates so you can create a custom version based on your business requirements.
To send SMS notifications for outstanding balances:
Go to Settings > SMS Notifications > SMS Templates > Enable it for Customer Balance.
Zoho Books - Cloud Payroll integration (Australian Edition)
Zoho Books has now integrated with Cloud Payroll to help ease the accounting process when it comes to payroll. This integration simply enables you to download General Ledger Posting in Cloud Payroll in a format that easily be imported into Zoho Books.
Note: Your account name in Cloud Payroll and Zoho Books should be the same for the import to be successful.
To do this (In Cloud Payroll): Go to Reports > Financial > General Ledger Posting > GL Interface File Download and select Zoho Books as the file format.
More Reports & Enhancements
We've released a set of new reports and we have made enhancements to the existing ones.
- Project Summary Report: This report summarizes the details of each project such as the budgeted cost against the actual cost, budgeted revenue against the actual revenue and their differences.
- Receivable Details & Summary Reports: Provides an overview of all your invoices and credit notes. You can also get a breakdown of the item name, quantity, and price for your Invoices and Credit notes.
Enhancements for Reports:
- Added percentage columns in the Profit and loss report such as the Income and Expense percentage coloumns.
- Customize your Balance Sheet to view the percentage of total for all your accounts.
We are always eager to hear your suggestions so we can serve you better. If you have a feature request, feel free to share them here. If you require any assistance, please write to us at firstname.lastname@example.org and we'll get back to you. Stay tuned for more updates from Zoho Books!
Bennet Noel L
The Zoho Books Team