Global technology company Zoho Corp. has made enhancements to its existing suite of finance solutions: Zoho Books, Zoho Inventory, and Zoho Practice.
Together with Zoho Payroll, which was launched in the U.S. this week, these apps form the core of Zoho’s finance and operations platform—offering an interconnected, one-stop solution for managing an organization’s financial and operational processes, the company said in a media release.
Zoho Books has introduced a suite of new features, including support for direct filing of 1099-MISC and 1099-NEC forms with the IRS, with provisions for collecting and managing W-9 forms from contractors. Progress-based invoicing allows businesses to invoice customers incrementally, improving cash flow. With bill pay capabilities, businesses can auto-scan bills, set up vendor approval flows, perform three-way match for accuracy, and process batch payments, simplifying the entire accounts payable process.
Advanced features include revenue recognition, which automatically recognizes revenue based on contractual obligations or when the service is delivered, and fixed asset management, allowing the recording of asset details, automatic depreciation calculations, and the generating of forecast reports, simplifying the bookkeeping process, Zoho says.
In Zoho Inventory, advanced warehouse management capabilities—such as enhanced location tracking and labeling, stock counting, stock out alerts, and role-based access to the warehouse operations—offer better inventory control, ensure accurate stock levels, and provide faster order processing. The product’s mobile apps empower warehouse employees to perform their tasks more efficiently, improving productivity.
Zoho Practice has included new features to help accountants deliver client services efficiently. Workpapers simplifies audit and compliance workflows by automatically fetching client financial statements from Zoho Books, enabling easy comparison, adjustments, document management, and collaboration for seamless review and approval. The self-service portal enables accountants to collaborate with clients that use third-party services, facilitating document requests, digital signatures, and communication. Accountants can easily create and manage ledgers without a full accounting system, helping them maintain a single-source truth. Advanced capabilities like workflow automation, custom functions, and scheduling options support a complete tailoring of their operational workflow, Zoho says.
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Tags: Accounting, Technology
