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Zoho Books, You don’t want to be a high risk do you?

There’s always Zoho Books

Zoho Books and Bank FeedsYou may have a different opinion when it comes to paying your suppliers but I believe you should pay quickly. I’m talking mainly about service providers rather that product suppliers, but I think in small business it doesn’t matter.

Everyone loves to be paid on time and if you can get paid earlier, even better. It once took me 16 minutes to pay a supplier – OK, I was making other payments at the time, but still, it looked impressive.

I mention it today because one of my team told me that I was categorised by their accounting software as “high risk” and I wasn’t too happy – they use Zoho Books and it’s been recommended around here to team members who are just starting their own businesses as independent consultants. When I delved a little deeper I discovered that they offer automated bank feeds.

Zoho Books + Bank Feeds = Faster Reconciliation

We’re written about Zoho Books in several different blog posts about their free version which is ideal for virtual assistants, Zoho’s huge range of other cloud based software tools, and their fantastic automated tools to help you get paid faster and this time I was fascinated to learn about their banks feeds.

Zoho uses a company called Yodlee to enable Zoho Books users to get their bank feeds and they boast that “Zoho Books does not store any of your bank login credentials.“. This is a comforting feature in the cloud accounting wars that have erupted since MYOB started facing stiff competition online against SAASU, Xero and Quickbooks.

bank feeds in Xero and MYOB for faster bank reconciliationI wrote about the time saving features of bank feeds and showcased some of the training videos in our online MYOB Training Course. If you are interested there are two free training videos to help you understand bank feeds in MYOB as an overview and how to setup bank feeds in MYOB.

I discovered a great article by “Cloud Commentator” Sholto Macpherson at his Digital First blog where he wrote about all the different perspectives of modern day bank feeds and the opinions of ICB, Accountants and the software companies themselves. If you’re interested it’s an interesting and objective read.

Zoho Books is in the Clouds

Either way you look at it, the new online cloud based accounting programs give you the power to work from anywhere, the tools to get paid faster and the connectivity to complete your bookkeeping in much less time.

We offer bookkeeping training in our MYOB Courses, Xero Courses and Reach Accounting so please enrol with us, take advantage of our lifetime course access feature and 30-Day money back guarantee.

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How Bad Do You Want It? (Money, That Is!)

invoicing small business
Don’t do all the hard work and not get paid for it: consult our checklist for what you can do to get paid – and faster.

If you’re working as a contractor and using an Australian business number (ABN), rather than a tax file number (TFN), you’re self-employed, and this means you will need to invoice your customers for the products or services you provide in order to get paid.

If you’ve only ever worked as an employee before, you’re probably used to being able to set your clock to payday, but unfortunately this isn’t often the case when you’re a contractor.

Getting paid late — or worse, not at all! — can seriously affect your cash-flow, and in turn, affect the success of your business, which is why we cover things like financial planning in our Small Business Management and Start Up Course.

Continue reading How Bad Do You Want It? (Money, That Is!)

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Invoice Your Customers Directly Using PayPal

We were recently surveying our PayPal account and discovered that you can now invoice customers directly using PayPal. While it doesn’t eradicate the need for a good piece of accounting software, this facility makes it very easy for people to get started in business — particularly businesses with very few expenses. Continue reading Invoice Your Customers Directly Using PayPal