What's New in Zoho Inventory - Q4 2023

What's New in Zoho Inventory - Q4 2023

Hello, users!

As we draw curtains on 2023, we would like to thank each and every one of you for being a part of our exciting journey so far. 2023 has been a year of performance enhancements and updates. We've tried to fill the small gaps that you've been asking us to look into. As we believe, these enhancements would build a strong foundation for the most requested updates that we are excited to bring in 2024. So, let's take a quick look at what's new in Zoho Inventory this last quarter.

Introducing Customer and Vendor Number [Germany]

You can now associate unique number with your customers and vendors to avoid duplication. You can enable this option from the Customers & Vendors Preferences in Settings. 
For new customers or vendors, you can enter the number in the Customer Number field or configure the auto-generate option from the popup that appears once you click the field. 

For existing customers or vendors, there are two ways in which you can add the customer number.
  • Custom Field: If you had created a custom field with data type as number, string or auto-generate, you can select the option Retain existing customer numbers from the settings page and select the custom field name. 
  • Generate New Numbers: If you do not have customer or vendor numbers for your existing contacts, you can select the option Generate new customer numbers. 

In Transit Stock In Item Details View

You can now view the in transit stock on the item details page against the destination warehouse. This update will only show the stocks that are in active transfer orders. Click In Transit and you'll be redirected to the Transfer Orders list page with the status In Transit.

CIS Payment and Deduction statement [UK]

Zoho Inventory now supports CIS Payment and Deduction statement for organizations that have CIS (Construction Industry Scheme) enabled. A CIS statement is a receipt or written proof of the tax deductions made by the contractors from their subcontractors’ payments. This statement must be issued by the contractor to the subcontractor when a payment deduction is made. This option will be available only if your CIS role is Contractor or Both.
Here's what will change in the app once you enable this preference. 

Taxes Under Settings: A new field Employer Reference Number (ERN) (For example, 012/AB12345) will be displayed.
Vendor Creation Page: Enable CIS tracking for this Sub-Contractor checkbox. Once this is checked, a new field Verification number (For example, V1234567890) will be displayed, which is required if the deduction rate of the respective subcontractor is high.

Vendor Statement Page: If the selected vendor is CIS Registered, the CIS statement will be displayed under the View option in the Statement tab.

With this, we've come to an end to this post, and this year. Try out these features and let us know what you think. We'd like to conclude by saying there are some amazing new and highly requested features waiting in store for 2024. We are excited and looking forward to it. We wish you all a Happy and Prosperous New Year!

Team Zoho Inventory