What's New in Zoho Books - June 2023

Hello users,

We have been bringing new updates and enhancements to Zoho Books consistently. This month, we are back with yet another set of enhancements. Let's take a quick look at what's new this June in Zoho Books:

Stripe Financial Connections

Stripe has come up with their very own instant bank verification process through Financial Connections. With this integration, you'll be able to verify bank accounts and confirm account ownership. With this update, we are discontinuing support for new Plaid integrations. However, you can continue using Plaid if you've been using it already. If you switch to Stripe Financial Connections, then you'll not be able to continue using Plaid anymore.

Once you've enabled Stripe Financial Connections, your customers will be able to verify their bank account while making ACH payments through their customer portal. Learn More.

To integrate: Go to Settings > Online Payments > Customer Payments > Click Edit Settings against Stripe.

SKR Standards for Chart of Accounts [Global edition with the country as Germany]

We have introduced the SKR standards: SKR 03 and SKR 04 in Zoho Books. You can now associate them to the system-generated accounts in the Chart of Accounts. If you're an existing user, you can associate the codes by updating the accounts by clicking the Update the chart of accounts to SKR banner in the Chart of Accounts list page. If you're a new user, SKR 03 will be the default standard which you can change to SKR 04 from Chart of Accounts if required. Learn more

To update the codes: Go to Accountant > Chart of Accounts > Update the chart of accounts to SKR.

Custom Report Generator

You can now customize Account Group rows, Text rows, and Formula rows in your Profit and Loss and Balance Sheet reports.

Text Row: A new text row can be added to the customization as a child. Text rows can be used to create headings for each account group and to note the details of new account groups.

Formula Row: Using formula rows you can perform actions such as addition, subtraction, multiplication, and division.

Drag and Drop: Account groups can be reordered at the same level using drag and drop.

Accounts Preview: Once the customizations have been made to the account structure, you can preview rows to see how the accounts will appear after the custom report is saved.

Once you have customised your report based on your preference, you can save it as a custom report.

This feature is available in the Premium, Elite, and Ultimate plans of Zoho Books.