Zoho Books Update April 2023
Spring is the time we see all the hard work over winter come to fruition as flowers start to bloom all around us. It’s the same for Zoho. So let’s get into the new Zoho Books features that are bringing colour to our daily life in our Zoho Books update, April 2023.
Tax Override in Sales Transactions
Zoho have added an option that allows you to modify and replace the tax amount generated by the system in sales transactions according to your preference.
To enable tax override: Go to Settings > Taxes > Check the Tax Amount Override in Transactions box.
Tax Deducted at Source
TDS or Tax Deducted at Source is a process that involves withholding tax at the source itself. Zoho Books now offers the option to activate TDS for customers, vendors, or both. Enabling TDS allows you to link it to transactions you create for the designated contacts. As a result the applicable tax will be automatically calculated based on the selected tax rate. Furthermore, you can use TDS Receivables and TDS Payables reports to view a comprehensive list of transactions.
To enable TDS
Go to Settings > Taxes > Tax Settings > Check the Enable TDS box and select Customer, Vendor, or Customer and Vendor in the Support TDS for dropdown.
If you want to enable it for a particular customer/vendor or both:
Go to the respective contact > Check the Enable TDS for this Customer/Vendor box.
To associate TDS in transactions
Go to the respective transaction > Create a transaction for the contact for whom you had enabled TDS > Check the box in the Apply TDS column of the line item.
Updates for Organisations with the Zoho Inventory Add-on
If your Zoho Books solution has the Zoho Inventory add-on enabled, you can take advantage of advanced inventory management features. These include handling Composite Items, Item Groups, Packages, Shipments, and Bulk Adjustments and these new features below.
- The Inventory Aging Summary report now includes Advanced filters, Show/Hide columns, and Asset Value columns. As a result, you can now view the combined value of your inventory, along with the number of units, in a single place.
- Now you can easily import your purchase receives from another software or file (CSV, TSV, or XLS) into the Purchase Receives module using the import feature.
- The Missing Inventory Tracking Details report now includes force-fulfilled orders and manually received orders for better tracking. Furthermore, it includes the ability to make any necessary adjustments.
If any of these features in our Zoho Books update April 2023 sound of interest, try them out and let us know what you think. If you have any queries, get in touch. As Zoho Books experts and Advanced Zoho Partners we will help you get underway with all Zoho Books features.