What's New in Zoho Books - March 2023

What's New in Zoho Books - March 2023

Hello users,
We are back with yet another set of features and enhancements designed to streamline your accounting processes. Let's take a quick look at what's new this March:

Tax Deducted at Source [Global Edition]

TDS (Tax Deducted at Source) is a mechanism where the tax is withheld at source. In Zoho Books, you can now enable TDS for customers, vendors, or both customers and vendors. Once TDS is enabled, you can associate it with the transactions that you create for the enabled contacts and the tax will be calculated based on the selected tax rate. You can also view the consolidated list of transactions with the help of TDS Receivables and TDS Payables reports.

To enable TDS: Go to Settings > Taxes > Tax Settings > Check the Enable TDS box and select Customer, Vendor, or Customer and Vendor in the Support TDS for dropdown.

To enable it for a particular customer/vendor or both: Go to the respective contact > Check the Enable TDS for this Customer/Vendor box.

To associate TDS in transactions: Go to the respective transaction > Create a transaction for the contact for whom you had enabled TDS > Check the box in the Apply TDS column of the line item.

Tax Override in Sales Transactions [Global Edition]

We've introduced a preference to let you edit and override the system generated tax amount in sales transactions. 

To enable tax override: Go to Settings > Taxes > Check the Tax Amount Override in Transactions box.

Updates for Organisations with the Zoho Inventory Add-on

  • Advanced filters, show/hide columns and Asset Value columns have been introduced in the Inventory Aging Summary report. With this, you can now see the consolidated value of the stock along with the units.
  • If you've been wanting to import your purchase receives from another software or from a file, you can now do it with the import option in the Purchase Receives module. 
  • Added force-fulfilled orders and manually received orders in the Missing Inventory Tracking Details report to keep track of them and make any changes if required 

You can access these features if the Zoho Inventory add-on is enabled for your Zoho Books organization. With this add-on you can do advanced inventory management such as handling Composite Items, Item Groups, Packages, Shipments and Bulk Adjustments.

Zoholics US

Zoho's flagship user conference returns to the US again this April. Spend two days learning how to make the most of Zoho apps from our Zoho experts. Also, connect with fellow users in an open, friendly, and interactive environment. Come and meet us at Pleasanton (April 20-21), Jersey City (April 26-27), or Austin (May 3-4). Register Now  

Check out our Events website to know about upcoming events in other regions. 

Do try these features out and let us know what you think. If you have any queries, you can write to us at support@zohobooks.com

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