Thoroughly Explained, Thanks. At 18:41 why it's showing recieved via cash when it is recieved via bank. ? Even when I'm reconciling my bank statement, many a time it automatically selects via cash. Plz shed some light on it
Thank you for quality Tutorials. Iam a new Zoho books user. We have massage clinic and our booking and invoicing system is done by massage practice software. This system tracks booking and invoicing. Once we generate invoices this system, the clients pay us using direct billing paid their insurance coverage. Our process as follows: + payments by insurance companies is submitted using their direct billing portal. For all other payments, customer pays using debit or credit card. All these payments go to our checking account that is linked to Zoho Books. No invoices are created in Zoho book for these payments. How I can properly categories and record the insurance direct deposits and E- Transfer deposits and credit card payment in Zoho books? Ideally I want to setup once inZoho and the Zoho books Will recognize these transactions and match them automatically. Thanks in advance
Hello. It appears no one on YT has a video on how to process credit card statement using the credit card liability as the chart of account. Will you do a video on how to process credit card payments on Zoho? Thx
I’m brand new to Zoho. I think you are an awesome instructor. Your tutorial is very understandable. I’m an Amazon FBA. We get our monthly report that breaks down Gross Sales, Returns, COGS Expenses, and Income. The FBA income gets deposited to my bank. I categorize the deposit as “Amazon FBA Income”. How should I record the Gross Sales, Returns in Zoho? Do I use sales receipts to record Gross Sales? How about Returns? The expenses (COGS) seem simple to categorize in Zoho. TIA
Depends - How are you invoicing the products? Are you using Zoho to invoice directly to the end customer? That should be done ideally so your sales and returns are taken care of. All these sales can be paid through a common transition account called ‘Amazon FBA Receivable’ under Other Current Assets. Expenses go to COGS expenses and second effect to Amazon FBA Receivable account. Amount received in bank is transferred to this Amazon FBA Receivable account for it to match with the actual receipt.
@@CANikitaPunjabi As an Amazon FBA seller, we don’t invoice to anyone. We send our inventory to Amazon. Amazon will do the fulfillment. At the end the month, we get a comprehensive sales report that breaks down Gross Sales, Returns, Expenses, and Income. When I was using QB, I report the Gross Sales, Returns, and Expenses on an Excel spreadsheet. For income that is deposited to my bank account, I record the income as an Amazon Sales Income in QB. I know this is not the correct way of doing bookkeeping but since I am starting fresh with Zoho for 2024, I want to include Gross Sales, Returns, and Expenses into Zoho while do away with Excel spreadsheet. Having said that, not sure how to report the Gross Sales and Returns (Net Sales) in Zoho. The income i received from Amazon into my bank account is technically “gross margin”.
@@CANikitaPunjabi Hi. As an Amazon Seller, we send our inventory to Amazon and they will do the fulfillment. We do not invoice the end users. So, every month we get a sales report from Amazon. The report is broken down to gross sales, returns, expenses, and what gets deposited in our bank account. So what gets deposited in my bank account is recorded as “Income from Amazon” in Zoho Bank. How do we record gross sales and returns in Zoho Bank? Recording the Amazon expenses in COGS Expenses is not difficult in ZOHO Bank. Suggestion?
This is a nice video on Zoho Book.. Thanks CA Nikita. Can you prepare one video for a new start up. Mainly how to begin opening balance in ZohoBook for a fresh just-born company , as it starts with Shareholder promoter Directors money. How to start making ledger, from the beginning of opening of the bank current account, before beginning any other expenditure. But if you have already created such, please provide me the url link to that.
I have one query. Does zoho books syn all the transaction which are in the statement on the day before taking subscription. For ex: If i take subscription on 9th mar'24 and I syn my bank account on 9th mar'24. will the transaction of 1-8th mar'24 get automatically sync aur I have to do some mannual effort too?
Hi Nikita Very nice explanatory video series. I have been using Icici integration and it is working very well. I am stuck regarding Cash Widhdrawal. We withdraw cash for other expenses and for employee salary. Can you guide. How can i put my cash withdrawal to cash in hand account and then further add cash expenses as Salary and other petty cash expenses. By which i can exactly maintain my cash in hand.
If you go to the Banking module in Zoho Books just like you enter banking transactions, you can have a separate account for cash in hand and manage all your receipts and payments from there
Nicely Explained Nikita. I am looking to shift to Zoho Books. But here's my query, what happens if you enter an amount that doesn't tally with the invoice because the client has cut 10% TDS? Does it still show as partially paid or can you mark it as fully paid?
You can record the TDS amount as tax withheld and record it under TDS receivable while recording the payment. The balance is received against the invoice and it’ll show as fully paid
Very good video, mine is a Pharma company where products have batch number, how can we add that in Zoho books. Secondly we use a code for every distributor (as most have similar names and there should not be wrong entry) I didn’t find that option in Zoho books . Thanks in advance
You need Zoho Inventory for batch tracking. Here’s a link that’ll help with all information related to batch tracking in Zoho - www.zoho.com/in/inventory/help/advanced-inventory-tracking/batch-tracking.html You can create a custom field from settings to include codes for distributors.
How to add a cash withdrawal transaction and after that the expenses against it? Ex: I made a withdrawal of 10000 and after that there are multiple expenses against that 10000.
Record the cash withdrawal as a withdrawal from Bank to Petty cash account. In petty cash account appearing in the banking module record all cash expenses
We have facility Management Company. Eg. We have some outsourcing cleaning expenses from other Vendor. So we will put under Purchase .. Expense -- Vendor name -- expense head Cleaning expense Class to (Building) -- we are paying later -- So paid through I will create Other liability (Sundry Creditors) -- Finally when I pull report Accounts payable or Agieng report AP. Its not appear anything. For showing there what I need to make. Please Help on this. Do I need to change paid through option etc
Excellent madam, super explanation which end user can understand irrespective of any other domain. i have one question, daily we need to pass bank payment entries which issued manually. if we upload bank statement there might be double time transactions which already posted manually and fetched through bank statement how to overcome this? how
If you’ve already passed entries manually, after uploading your bank statement, Zoho will recognise such entries and give you the option of ‘Match’. Match means it will match the bank transaction with your transaction and will not pass an entry again.
In Zoho Payroll you can show it as a loan. Only if you're using Zoho Payroll to add this advance/ prepaid salary will it appear there. If you record it directly in Zoho Books there'll be no impact on Zoho Payroll
hey, how can i edit previous zoho payroll entries in zoho books . I am unable to edit previous entries as i misktakingly intregated in suspense but now i have to show them from bank account.
I would suggest you pass the entries through Manual journals and delete the automated entries. For future entries, select the correct account in the settings of Zoho Payroll. Go to Settings > Zoho Apps > Zoho Books > Edit
How to class expense transaction . Cost centre etc. our business is real estate and facility management . How to class expense by building wise etc. and how to make cost centre wise eg. car petrol expense to different cars cost
You can use reporting tags in Zoho to have separate cost centres. You can also have sub-reporting tags, check this link for more information. help.zoho.com/portal/en/community/topic/cost-center-accounting
@@CANikitaPunjabi Yeah.. but how can we class while we enter expense . Cleaning expense (building A) , cleaning expense (Building B) like this . Then we can make report profit and loss by class wise (Building wise)
@@CANikitaPunjabi only way I see need to create expense like cleaning expense building A, cleaning expense Building B. In QB there is option to class expenses. Now we changed to Zoho .
Use the feature of Transaction Rules to categorise multiple transactions at the same time. Here’s a link to help you - www.zoho.com/in/books/help/banking/transaction-rule.html
Hi, Ma'am Nikkita, my excel file transaction of bank deposits and withdrawals starded November 2019 up to current date. Could i import it on file ore do i need to import it by year? hoping you could help me on this matter, thank you.
Hi. I am doing restaurant accounting and we receive deposit from bank everyday of the Credit card sales. So to record that deposit I also have to book credit card commission and VAT charges along with the deposit. How can I book that? Because in split amount option ZOHO is not letting me select expense account to book my Commission
So the deposit will be booked against an invoice (you can use the option of filter available right besides Possible Matches). Let’s say the invoice amount is Rs. 100 and you’ve received Rs. 98. You will apply the filter next to Possible Matches and select the 100 rupees invoice, it’ll then show that the balance 2 rupees is pending, for which you can select create new transaction near the bottom of the screen, and then you can select the suitable expense head for that transaction.
@@CANikitaPunjabi Thank you so much for your reply. But we don't book Sales invoices separately. We just book one sales journal everyday with total amount. So my deposit journal entry should be Credit Card Visa 100 Cr Bank 95 Dr Commission 3 Dr VAT Input 2 Dr In entry I select Deposit from other account as Category and then split amount to enter different amounts I can select Credit Card account 100 and VAT 2 but system won't let me select Expense account that is 'Commission'.
@@bhattsaumya7888 - Since it’s a deposit item in your bank the system will not show any expense account. You can create a head in the income account itself called Commission, in the final PnL account it’ll disclose it as a negative amount which you can reclassify later. This is a possible solution since you’re booking Journal and not raising invoices.
Hi, during ur video SBI bank is reflecting there. But I m using free version of Zoho book because I m trying to understand Zoho book and Whenever I try to integrate my SBI corporate account to Zoho book, SBI bank is not seen there. Pls guide.
Hi. Even if you're using a trial version, SBI Corporate is available in the banking module under the name State Bank of India (Corporate) (India) - Bank. Please try once more
@@CANikitaPunjabi Hi Nikita, thank you to revert my query. I just discussed with Zoho book toll free no. he stated that for SBI bank integration we need to upgrade from free plan to paid plan then SBI bank will seen and can integrate. This is only for information 😊
@@srikabilan007 - I have a live online course batch coming up on 5th January. Here are all the details to register for it - pages.razorpay.com/pl_Jdhk3Z0DsjCtu1/view
Thoroughly Explained, Thanks. At 18:41 why it's showing recieved via cash when it is recieved via bank. ? Even when I'm reconciling my bank statement, many a time it automatically selects via cash. Plz shed some light on it
Thank you for quality Tutorials.
Iam a new Zoho books user. We have massage clinic and our booking and invoicing system is done by massage practice software. This system tracks booking and invoicing.
Once we generate invoices this system, the clients pay us using direct billing paid their insurance coverage.
Our process as follows:
+ payments by insurance companies is submitted using their direct billing portal.
For all other payments, customer pays using debit or credit card.
All these payments go to our checking account that is linked to Zoho Books.
No invoices are created in Zoho book for these payments.
How I can properly categories and record the insurance direct deposits and E- Transfer deposits and credit card payment in Zoho books?
Ideally I want to setup once inZoho and the Zoho books Will recognize these transactions and match them automatically.
Thanks in advance
Thanks Nikita, Great video.
Hello. It appears no one on YT has a video on how to process credit card statement using the credit card liability as the chart of account. Will you do a video on how to process credit card payments on Zoho? Thx
Excellent Explanation .Simple and Effective. Thanks a lot !!
Thank you 🙂
I’m brand new to Zoho. I think you are an awesome instructor. Your tutorial is very understandable.
I’m an Amazon FBA. We get our monthly report that breaks down Gross Sales, Returns, COGS Expenses, and Income. The FBA income gets deposited to my bank. I categorize the deposit as “Amazon FBA Income”.
How should I record the Gross Sales, Returns in Zoho? Do I use sales receipts to record Gross Sales? How about Returns? The expenses (COGS) seem simple to categorize in Zoho. TIA
Depends - How are you invoicing the products? Are you using Zoho to invoice directly to the end customer? That should be done ideally so your sales and returns are taken care of.
All these sales can be paid through a common transition account called ‘Amazon FBA Receivable’ under Other Current Assets.
Expenses go to COGS expenses and second effect to Amazon FBA Receivable account. Amount received in bank is transferred to this Amazon FBA Receivable account for it to match with the actual receipt.
@@CANikitaPunjabi
As an Amazon FBA seller, we don’t invoice to anyone. We send our inventory to Amazon. Amazon will do the fulfillment. At the end the month, we get a comprehensive sales report that breaks down Gross Sales, Returns, Expenses, and Income.
When I was using QB, I report the Gross Sales, Returns, and Expenses on an Excel spreadsheet. For income that is deposited to my bank account, I record the income as an Amazon Sales Income in QB. I know this is not the correct way of doing bookkeeping but since I am starting fresh with Zoho for 2024, I want to include Gross Sales, Returns, and Expenses into Zoho while do away with Excel spreadsheet. Having said that, not sure how to report the Gross Sales and Returns (Net Sales) in Zoho. The income i received from Amazon into my bank account is technically “gross margin”.
@@CANikitaPunjabi
Hi. As an Amazon Seller, we send our inventory to Amazon and they will do the fulfillment. We do not invoice the end users.
So, every month we get a sales report from Amazon. The report is broken down to gross sales, returns, expenses, and what gets deposited in our bank account.
So what gets deposited in my bank account is recorded as “Income from Amazon” in Zoho Bank. How do we record gross sales and returns in Zoho Bank? Recording the Amazon expenses in COGS Expenses is not difficult in ZOHO Bank.
Suggestion?
This is a nice video on Zoho Book.. Thanks CA Nikita. Can you prepare one video for a new start up. Mainly how to begin opening balance in ZohoBook for a fresh just-born company , as it starts with Shareholder promoter Directors money. How to start making ledger, from the beginning of opening of the bank current account, before beginning any other expenditure. But if you have already created such, please provide me the url link to that.
I have one query. Does zoho books syn all the transaction which are in the statement on the day before taking subscription. For ex: If i take subscription on 9th mar'24 and I syn my bank account on 9th mar'24. will the transaction of 1-8th mar'24 get automatically sync aur I have to do some mannual effort too?
You can go up to 90 days prior to the date of subscription for syncing your bank statement. You can select the date at the time of setup.
Hi Nikita
Very nice explanatory video series.
I have been using Icici integration and it is working very well.
I am stuck regarding Cash Widhdrawal.
We withdraw cash for other expenses and for employee salary.
Can you guide. How can i put my cash withdrawal to cash in hand account and then further add cash expenses as Salary and other petty cash expenses.
By which i can exactly maintain my cash in hand.
If you go to the Banking module in Zoho Books just like you enter banking transactions, you can have a separate account for cash in hand and manage all your receipts and payments from there
Nicely Explained Nikita. I am looking to shift to Zoho Books.
But here's my query, what happens if you enter an amount that doesn't tally with the invoice because the client has cut 10% TDS? Does it still show as partially paid or can you mark it as fully paid?
You can record the TDS amount as tax withheld and record it under TDS receivable while recording the payment. The balance is received against the invoice and it’ll show as fully paid
Very good video, mine is a Pharma company where products have batch number, how can we add that in Zoho books. Secondly we use a code for every distributor (as most have similar names and there should not be wrong entry) I didn’t find that option in Zoho books . Thanks in advance
You need Zoho Inventory for batch tracking. Here’s a link that’ll help with all information related to batch tracking in Zoho - www.zoho.com/in/inventory/help/advanced-inventory-tracking/batch-tracking.html
You can create a custom field from settings to include codes for distributors.
How to add a cash withdrawal transaction and after that the expenses against it? Ex: I made a withdrawal of 10000 and after that there are multiple expenses against that 10000.
Record the cash withdrawal as a withdrawal from Bank to Petty cash account.
In petty cash account appearing in the banking module record all cash expenses
We have facility Management Company. Eg. We have some outsourcing cleaning expenses from other Vendor. So we will put under Purchase .. Expense -- Vendor name -- expense head Cleaning expense Class to (Building) -- we are paying later -- So paid through I will create Other liability (Sundry Creditors) -- Finally when I pull report Accounts payable or Agieng report AP. Its not appear anything. For showing there what I need to make. Please Help on this. Do I need to change paid through option etc
Excellent madam, super explanation which end user can understand irrespective of any other domain.
i have one question, daily we need to pass bank payment entries which issued manually. if we upload bank statement there might be double time transactions which already posted manually and fetched through bank statement how to overcome this?
how
If you’ve already passed entries manually, after uploading your bank statement, Zoho will recognise such entries and give you the option of ‘Match’. Match means it will match the bank transaction with your transaction and will not pass an entry again.
How to note prepaid salary and how it is affected by the salary payroll.
In Zoho Payroll you can show it as a loan. Only if you're using Zoho Payroll to add this advance/ prepaid salary will it appear there. If you record it directly in Zoho Books there'll be no impact on Zoho Payroll
How can I edit an amount of a transaction if I accidentally mislabeled or typed the incorrect amount before I manually uploaded a bank transaction?
hey, how can i edit previous zoho payroll entries in zoho books . I am unable to edit previous entries as i misktakingly intregated in suspense but now i have to show them from bank account.
I would suggest you pass the entries through Manual journals and delete the automated entries. For future entries, select the correct account in the settings of Zoho Payroll. Go to Settings > Zoho Apps > Zoho Books > Edit
Alguma previsão para integrar com bancos brasileiros?
Well presented mam
How to do fixed deposit entries in zoho books
Excellent
How to class expense transaction . Cost centre etc. our business is real estate and facility management . How to class expense by building wise etc. and how to make cost centre wise eg. car petrol expense to different cars cost
You can use reporting tags in Zoho to have separate cost centres. You can also have sub-reporting tags, check this link for more information. help.zoho.com/portal/en/community/topic/cost-center-accounting
@@CANikitaPunjabi Yeah.. but how can we class while we enter expense . Cleaning expense (building A) , cleaning expense (Building B) like this . Then we can make report profit and loss by class wise (Building wise)
@@CANikitaPunjabi only way I see need to create expense like cleaning expense building A, cleaning expense Building B. In QB there is option to class expenses. Now we changed to Zoho .
@@shaheenph5584 - Yes the other option, create separate heads in Chart of Accounts itself.
@@CANikitaPunjabi Thank you very much
Mam cash withdrawal from bank how to do in petty cash
Hi, Im interested to manage my book in zoho, how can you help me
Hi,
You can send me an email on ca.nikitapunjabi@gmail.com with your requirement and we’ll take it from there
How to Catergorise multiple transactions at the same time
Use the feature of Transaction Rules to categorise multiple transactions at the same time. Here’s a link to help you - www.zoho.com/in/books/help/banking/transaction-rule.html
Hi, Ma'am Nikkita, my excel file transaction of bank deposits and withdrawals starded November 2019 up to current date. Could i import it on file ore do i need to import it by year? hoping you could help me on this matter, thank you.
Were you able to solve this?
You can import it in the banking module of Zoho Books.
Hi. I am doing restaurant accounting and we receive deposit from bank everyday of the Credit card sales. So to record that deposit I also have to book credit card commission and VAT charges along with the deposit. How can I book that? Because in split amount option ZOHO is not letting me select expense account to book my Commission
So the deposit will be booked against an invoice (you can use the option of filter available right besides Possible Matches). Let’s say the invoice amount is Rs. 100 and you’ve received Rs. 98. You will apply the filter next to Possible Matches and select the 100 rupees invoice, it’ll then show that the balance 2 rupees is pending, for which you can select create new transaction near the bottom of the screen, and then you can select the suitable expense head for that transaction.
@@CANikitaPunjabi Thank you so much for your reply.
But we don't book Sales invoices separately. We just book one sales journal everyday with total amount. So my deposit journal entry should be
Credit Card Visa 100 Cr
Bank 95 Dr
Commission 3 Dr
VAT Input 2 Dr
In entry I select Deposit from other account as Category and then split amount to enter different amounts
I can select Credit Card account 100 and VAT 2 but system won't let me select Expense account that is 'Commission'.
@@bhattsaumya7888 - Since it’s a deposit item in your bank the system will not show any expense account. You can create a head in the income account itself called Commission, in the final PnL account it’ll disclose it as a negative amount which you can reclassify later. This is a possible solution since you’re booking Journal and not raising invoices.
Hi, during ur video SBI bank is reflecting there. But I m using free version of Zoho book because I m trying to understand Zoho book and Whenever I try to integrate my SBI corporate account to Zoho book, SBI bank is not seen there. Pls guide.
Hi. Even if you're using a trial version, SBI Corporate is available in the banking module under the name State Bank of India (Corporate) (India) - Bank. Please try once more
@@CANikitaPunjabi Hi Nikita, thank you to revert my query. I just discussed with Zoho book toll free no. he stated that for SBI bank integration we need to upgrade from free plan to paid plan then SBI bank will seen and can integrate. This is only for information 😊
@@maurya3677 - Thanks for letting me know! Because in case of ICICI and a few other banks they do permit in the trial version as well.
Mam. How to make contra entry in Zoho books (cash withdrawal)
You can book cash withdrawal entries using the banking module. Add your bank statement to Zoho Books and classify the transaction
@@CANikitaPunjabi steps
Mam i am using Zoho book how to take entry if we have taken loan for purchase of machinery
You can pass a Manual Journal or you can add go to Expenses and in the drop down of Expense Account, select the Fixed Asset you have purchased
Is it an American program
No it’s made by an Indian organisation
Nakitta can you help me Zoho
We have transport company
How many bank account can we add in Zoho books (In free Version)
I’m not aware of any such limit. There’s no limit.
@@CANikitaPunjabi Thank you for the update
can you give a personal training i willnpay for that
through online
@@srikabilan007 - I have a live online course batch coming up on 5th January. Here are all the details to register for it - pages.razorpay.com/pl_Jdhk3Z0DsjCtu1/view