What's New in Zoho Books - May 2024
Hello users,
We've rolled out new features and enhancements to elevate your accounting experience in Zoho Books. Dive in to discover what's new in Zoho Books this May.
Alipay Payment Method for Stripe
Alipay, a popular digital wallet in China, is now available as a payment method for Stripe payments in Zoho Books. With Alipay, you can securely make payments online or via mobile devices.You can collect payments in CNY currency from any location. Additionally, based on your Stripe account's location, you can receive payments in AUD, CAD, EUR, GBP, HKD, JPY, SGD, MYR, NZD, and USD.
To enable Alipay, navigate to Settings > Online Payments > Payment Gateways, and click Edit Settings under Stripe. Then, select the Edit icon next to Payment Methods, and choose Alipay from the list of payment methods.
Note: This feature is not available for the India edition of Zoho Books.
Generate BACS Files [UK Edition]
BACS or Bankers Automated Clearing System, is a payment system used for bank transfers in the UK. You can now generate and export BACS files in Zoho Books and use them to make BACS payments for your bills.
To generate a BACS file, go to Purchases from the left side bar and click Bills. Then, bulk select the bills that you want to pay using a BACS file and click Generate BACS File at the top of the page.
Additionally, you can save your organization's Service User Number in the Organization Profile page under Settings.
Split Your Invoice Payments
We have introduced an option to split your invoice amount into three parts when creating an invoice. You can assign different payment methods and bank accounts to each part and record separate payments automatically.
To configure split payments, go to Invoices and click +New. In the next page, enter the necessary details and click the I have received the payment checkbox. Add the split amounts and their corresponding payment methods and save the invoice.
Note: This feature is not available for the Mexico edition of Zoho Books.
Other Feature Enhancements
UPI Payment Mode [India Edition]
For new India edition organizations, we've set UPI as the default payment mode to record payments for your transactions. For existing organizations, Cash will remain as the default payment mode.
Recall Option for E-invoices [India Edition]
We have introduced the new e-invoice recall option for both invoices and credit notes. This option will be displayed only for invoices marked as cancelled, ensuring accuracy when updating your invoice status. Once recalled, the invoice status will be changed to Draft automatically.
Customer and Vendor Numbers
Assign unique identification numbers to your customers and vendors to avoid any confusions while creating transactions for them.
Go to Settings and select Customers and Vendors under Preferences. In the Customer & Vendor Numbers section, you can choose to enable the feature for your customers, vendors, or both.
Create Transactions in Zimbabwe's New ZiG Currency
We have introduced the new Zimbabwe Gold (ZiG) currency in Zoho Books, which you can associate with your customers, vendors, and transactions. You will also be able to set ZiG as the base currency when you're creating a new organisation.
That's it from us for this month's product updates! We hope the latest enhancements are helpful for your business. You can also visit the What's New timeline for byte-sized information about our previous feature updates and enhancements.
We'll catch you in next month's product updates. Until then, if you require any assistance or need clarifications, feel free to write to us at support@zohobooks.com, we'd be happy to help!
Best regards,
The Zoho Books Team
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