We don’t always come together, but when we do, we make sure we give you the best. In collaboration with the tech giant, Microsoft, we’ve launched our maiden app for the Windows store – Zoho Books for Windows 8.1, an online accounting app for growing businesses.
Freelancers and small business owners who use Windows 8.1, can now effortlessly keep track of the two most important things of your business – receivables and expenditures. Yeah, we hear your sigh of relief! As a start to building the complete package, we’ve designed the app on a beautiful interface which makes these two financial imperitives incredibly easy. That’s not all; there’s a lot more you can do with the app:
Ever since we launched the latest version of Zoho Books with a new interface and added features, we have been receiving rave reviews from our customers.
We continue to investigate and interact with our users to see what other feature requests could be useful. Today we add another feature for inventory control thereby crossing yet another major milepost. We’re pleased to announce a new feature in Zoho Books: Purchase Order.
Purchase Orders are documents you issue when you buy products and services from a supplier. They help keep an account of all the purchases you make for your business.
This new feature in Zoho Books will allow you to:
- Create and send customized purchase orders
- Manage and access multiple purchase orders with ease
- Duplicate PO for the same set of items or services
- Track open Purchase Orders with our reports
- Customize the PO template to match your supplier’s requirements
The Purchase Order tab on the new interface of Zoho Books is sure to be another appreciated feature for every user. We’ve made it comprehensive and easy to use.
Go ahead. Start using PO now.
Learn everything there’s to know about Purchase Orders from our help page.
Zoho Books and Zoho Invoice are not just for you but also your clients!
The Client Portal allows you to share information with your clients conveniently and efficiently. Get rid of lengthy email threads to discuss estimates and forget waiting for an update on the invoices you sent. The best part is, you don’t need to wait so long to get paid!
Here are more reasons why you should start using Client Portal in Zoho Books and Zoho Invoice, immediately. Read more
This is a guest post by Craig Keolanui of SmBizWinningTips.
According to a recent survey, over 50% of small businesses find collecting payments and late-paying customers to be the most challenging aspects of managing their cash flow and payment activities. And particularly for businesses running on low margins, late payments can be a huge setback.
Late payments can cripple a small business with cash flow problems!
Late payments not only reduce your revenue, but they also have you paying for goods (components of a sale) or services (payroll) while waiting for payments to come in. If your sales are increasing, but late payments are also taking off, you will have a revenue shortfall when you start paying your bills.
If you are not completely on top of your books, this can sneak up on you right when things start getting consistently busy. The joy of increasing sales can quickly be extinguished by the angst of having to call for payments when it comes time to pay for supplies or payroll. You have to do whatever you can to encourage early payments while deterring late payments.
There are several steps to take to encourage early payments. Invoicing in a timely manner goes a long way, but you can also try:
- Invoicing twice a month. Some companies cut checks on certain dates and you might receive half of the usual monthly activity a little early. Keep this in mind also for accounts that are getting bigger or keeping more money tied up.
- Make sure to establish contact with accounting departments at any of the businesses with delinquent account activity and send them email reminders after mailing each statement.
- Encourage paying off invoices as opposed to waiting for monthly statements.
- Give a credit on the next statement for any early payment. You can also set up a rewards program or discount for companies that pay before 15 or 20 days.
- When setting up accounts, give some kind of one-time credit or discount for any accounts that are set up with purchase cards (credit cards!). Accepting them eats into your margin, but you set a firm hook and make it easier to process orders and get paid in full.
Discouraging late payments can also help speed things up. Here are some techniques to use:
- Charge the dreaded late fee. Make sure you spell things out and if you are just starting to establish late fees, be very specific about “invoice dates” vs. “statement dates”.
- Try calling clients who actually place orders to inform them of any issues getting payments out of accounting. Sometimes peer pressure will work better than any call you could make.
- Put up a list of delinquent accounts for staff members to act on if those customers place an order.
- Set yourself up to process electronic payments. Many of these customers can be steered that direction and you can start offering it to others.
Increased sales is a good thing, but making sure you get paid for your sales is critical to keeping the cash flowing and avoiding coming up short.
We have been on an integration spree since the beginning of this year. After the first two successful integration with Stripe and 2Checkout, Braintree is the latest payment gateway to be integrated to Zoho Invoice and Zoho Books.
If you haven’t begun accepting online payments from your customers, now is a good time to get started. Not only is creating a merchant account in Braintree is quick and painless, but also configuring it to Zoho Invoice and Zoho Books is easy.
Braintree supports multiple currencies and if your customers are across the globe, then it is a great payment gateway option to invest your money. Also, Braintree charges no monthly fee or minimums and charges you only for the transactions that have occurred (2.9% + $0.30 per transaction).
Awesome right? If you want to find out more, head straight to our documentation for detailed information on how to set it up. We’ve got plenty more in store for you this year. Meanwhile, share your feedback right here in the comments.
We have now made it really easy for you to receive online payments from your customers – from even the ones who are not in the same geographical area. Zoho Books and Zoho Invoice recently integrated with 2Checkout Payment Gateway. Apart from supporting multiple currencies, it is also multi-lingual. Transacting in global currency and getting paid has never been this easy.
2Checkout offers up to 15 languages that your customer can choose from during the payment process, thus giving them a better online payment experience. And great experiences lead to happy customers which means prompt payments always.
It takes only a few simple steps to configure your 2Checkout account in Zoho Invoice and Zoho Books. All you need is the 2Checkout Account Number and the ‘Secret Word’ (word you see in the site management section under Accounts). To know exactly how to configure 2Checkout account, just follow the steps given in our documentation.
With Stripe and 2Checkout added this year, we now have SIX payment gateways that you can choose from to accept online payments from your customers.
Would you want to hear some more good news?
For those who are eager to sell international, quickly sign up for a free 2Checkout account and enter the promo code ‘ZOHO2CO’ for a waiver on your application service fee (a savings of $10.99).
Like it?! Give 2Checkout a try and tell us how it worked for you!
Your customer has a credit card and as a freelancer or small business owner, you would like to make the payment process as simple as possible. Our solution to you – Stripe.
Zoho Books and Zoho Invoice is now integrated with Stripe online payment gateway. A feature which was much requested by our customers is now available for users in US and Canada.
Integrating with Stripe was a bliss in itself, thanks to their extensive documentation and well thought out simple API. Configuring Stripe to receive payments for your invoice is straightforward and absolutely painless.
- Head over to the Settings section (Zoho Books and Zoho Invoice)
- Click open the ‘Online Payment gateways’.
- Choose the currency and mention the ‘live secret key’ from your Stripe account.
- Click Setup and you are good to go.
We are hoping this addition is going to bring our customers one step closer to getting paid faster. With Stripe on board, our invoicing software and accounting software now allow customers to receive online payment through five different payment gateways.
If you haven’t tried the online payment option yet, this is a good time to send out your first invoice with the online payment link. Then sit back and enjoy the Benjamins rolling in.