Every business needs accounting software. But when it comes to accounting software for a small business, it is necessary to consider price and usability.
A small business does not necessarily require expansive, high-class accounting software, but they do need something that’s reasonably priced. It has to be software that they can expand along with their business.
Which brings us to Zoho books.
If you’re wondering, “Is Zoho Books good for small business?”
This Zoho books software overview will answer your question
Let’s dive in!
What are Zoho books?
Zoho Books is an accounting software created to help businesses with the creation and sending of invoices, generating reports, and keeping track of expenses and time. With Zoho Books, startups can sync their accounts and handle all their accounting easily.
Pros of Zoho books
- Easy to use: Zoho Books is easy-to-use accounting software. Users do not need to have any previous mathematical experience. It has a lot of automation features that save time.
- Reduce errors: Since users do not really need to enter manually, there is a reduction in the probability of errors.
- Easy integration: Zoho books can be easily integrated with other applications you need for your business. With this accounting software, you can efficiently work from one place.
- Minimal data loss: Zoho books safely keeps your accounting data in the cloud, so you don’t have to worry about accidentally erasing your data. Any data erased can be easily retrieved from the cloud.
How to use Zoho books for small businesses
Every small business needs invoicing as it is the main stream through which money comes into your business. It would be a hassle to organize your invoices manually. There is also the issue of data errors. Plus, without accounting software like Zoho Books, it would be difficult for you to track invoices and remember which clients owe you, especially when you’re expanding.
As a small business, you can use Zoho Books’ tools to streamline your invoicing.
You can also use it to create recurring profiles for repeat customers and outstanding invoices that can be sent to clients automatically.
You get to track due dates and anticipated payment dates and automate your payment reminders, which can be automatically sent to customers.
2. Recording and monitoring online transactions
Collecting payment from customers can sometimes be challenging when you don’t have an accounting system.
Zoho Books is an excellent way for you to receive and monitor payments from your customers. It will instantly update the corresponding invoice in your accounting system with any payments you receive and record them under the appropriate payment. Additionally, you can manage all different currencies and integrate Zoho Books with your accounting software to support multiple currencies.
3. Recording and tracking expenses
You can use Zoho Books to keep track of your spending. As a business, you need to know where your money goes. Your expenses are tracked and organized into categories with the Zoho Books software. So if you want to record your expenses, you can upload expense receipts, scan them, and they will be registered.
4. Reconciling bank and credit card accounts
If you want to streamline the fundamental accounting function of bank reconciliation, you can do it with Zoho Books. All you need to do is link your bank accounts to Zoho Books, which will allow you to download statements from the bank. If you are up for it, you can set up specific criteria in Zoho to automatically classify and match imported bank transactions. One great benefit is that your small business is audit-ready throughout the year.
5. Managing projects
You can use Zoho Books to manage your projects, spot issues, and swiftly solve them. With this accounting software, you can easily handle all the budgeting, time tracking, customer billing, etc. It is impressive how Zoho Books helps you track the time spent on tasks to prevent you from undercharging your clients and vice versa.
6. Reducing Costs
If there is anything you need as a business, it’s to spend less. You can use Zoho Books to lower your overall expenses while increasing the efficiency of your accounting team. With the program for cost control and reduction, you can easily manage your daily operations and increase your profit.
How to implement Zoho books
Some Zoho products can be challenging to learn independently, especially when you have a team of people who process information differently. By collaborating with an implementation specialist, your team will be taught how to use the right tools for their needs.
With this implementation help, you make fewer mistakes. You get access to foresight that enables you to explore solutions with less risk.
Plus, you also get to save money with a Zoho implementation specialist. They understand how each Zoho platform works and which one you need to add to Zoho Books.