What's New in Zoho Books - August 2023

Hello users!

We have a host of features and enhancements in store for you this month. From major updates about the PayPal integration to newly-introduced tax returns, there's a lot to catch up on! Let's take a look at the latest updates made to Zoho Books.

PayPal integration update

We've introduced the latest version of the PayPal integration in Zoho Books. In this version your customers from the US can now pay through Venmo and Buy Now Pay Later (subject to your account's eligibility). Payments received through PayPal will be tracked under the PayPal clearing account by default. You can change this anytime from Settings, if required.

With this update, the PayPal Payflow Pro and PayPal Payments Pro integrations will not be available in newly-created organizations. There will also be no differentiation between PayPal Standard and PayPal Business payment modes.

Note: Existing merchants who are already using these integrations can continue to use the same until further updates.

The PayPal integration is available only in the Global, US, UK, Canada, Australia and India editions of Zoho Books.

Verify your customers' ABN in Zoho Books [Australia Edition]

You can now verify if your customers' Australian Business Number (ABN) is active right from Zoho Books. Zoho Books fetches the details from Australian Business Register (ABR) to verify the status. It also displays the Entity Name, GST Registered Date, ABN Registered Date, Entity Type, Business Location, and Business Names.

To verify the ABN, click Verify ABN Using ABR below the ABN field in the customer creation or edit pages.

New payment methods in Stripe

We've introduced three new payment methods through the Stripe payment gateway. These are Giropay, Bancontact, and SOFORT. The payment methods will be displayed based on your customers' currency and country on the payment pages.

Note: SOFORT is a delayed notification payment method where the payment will be recorded within 2-14 business days. During this time, the invoice status will be displayed as Payment Initiated.

The Stripe integration is available only in Global, US, UK, Canada, Australia and India editions of Zoho Books.

To enable these payment methods, go to Settings > Online Payments > Stripe Advanced Settings.

New Tax Return Settings [Canada Edition]

We've made some tax-related features and enhancements to the Canada edition of Zoho Books.

Moved the Tax Returns module to the left navigation bar on the home page. Previously, this was available under Taxes in Settings.
Note: Only the tax returns that you've configured in under Settings > Taxes > Tax Return Settings will be displayed here.

Introduced two new provincial tax returns - Manitoba Retail Sales Tax (MB RST) and Saskatchewan Provincial Sales Tax (SK PST).

Provided the option to record payments in instalments for the Quebec Sales Tax return when the reporting period is selected as Yearly.
Introduced a semi-annual reporting period for the British Columbia Provincial Sales Tax (BC PST) return.

Customize the primary field in Custom Modules

You can now customize the primary field of the custom modules you create by setting a Label Name and Data Type. Previously, this label was automatically generated based on the name of your custom module. You can choose between the Text Box and Auto-Generate Number data types.

Other Enhancements

Group By option in Tax Summary report

You can now group the Tax Summary report based on parameters like Tax Name, Tax Percentage, Tax Agency, and more.

Choose account to track line-item level discounts

Now, you can choose the account in which you track line-item level discounts in bills and purchase orders.
Previously, all discounts were tracked under the Purchase Discounts account by default.

Configure permissions for Corporate Tax [UAE edition]

Select and assign specific users to manage the corporate tax in your organization by configuring roles and permissions. You can do this from Settings > Users & Roles.

That's the end of this month's updates! We hope you found these updates useful. Do try them and let us know what you think in the comments below. You can visit the What's New timeline for a full list of previous updates.

If you require any assistance, feel free to write to us at support@zohobooks.com.

Regards,

The Zoho Books Team