What's New this July 2020 - Zoho Books

We are back with another set of updates to enhance your accounting experience. Let's take a look at the updates for the month of July.

Update tool to accommodate the 15% VAT hike in KSA (Saudi Arabia Edition)

The government of the Kingdom of Saudi Arabia has announced a raise in the VAT rates from 5% to 15%. To help you stay compliant with the revised VAT rates, Zoho Books has come up with an update tool. You can change the VAT rates of your items, recurring bills, recurring invoices, and recurring expenses using this tool.

Once the changes are made in the tool, the new VAT rates will be automatically updated in your Zoho Books organization.

To update VAT rates: Go to the Dashboard > Click Update Now from the banner

Default income account for billable entities

We now offer the option to associate a default income account for bills and expenses. When an invoice is created from an expense or a bill, it will be automatically associated with the selected income account.

The income account will be applicable only for non-inventory items. For inventory items, the specified sales account will be associated.

To configure the default income account: Go to Settings > Preferences > General

State remembrance for profit and loss reports

View your profit and loss report based on the filters and customization you previously
applied. Every time you open the report, it will show the last state for which you viewed it, and all customization except the advance filters will be saved. Note that if you navigate to the report from any other report or entity, your customization will not be available.

To customize your P&L report: Go to Reports > Profit and Loss > Customize Report.

Export current report view in XLS and XLSX format

Export the current report view, containing only the columns displayed on the screen, in XLS and XLSX format.
You can choose the columns you want to display from the Show/Hide Column section in the Customize Report option. This feature is available in the Account Transactions, Account Type Transactions, Day Book, and General Ledger reports.

To export current view: Go to the report > Click Export As XLS or XLSX > Enable the Export this report based on my current view checkbox.

You can also see all the updates we've made to Zoho Books in our What's New Timeline. Please give these features a try and let us know what you think. If you have any questions, feel free to write to us at support@zohobooks.com. We're here to help!