What's New in Zoho Books - October 2023
Author: Subhashri Kamaraj
We've rolled out a new set of features and enhancements. These updates bring you new features related to taxes, and other enhancements that will help improve your accounting experience with us. Read on to learn more about what's new in Zoho Books this October.
Feature Updates Related to Taxes
Tax Amount Override [Canada Edition]
You can now edit the system-generated tax amount in Sales and Purchases transactions. You can also remove the amount altogether by entering 0 in the Total Tax Amount field. You can choose to do this for Sales, Purchases, or both Sales and Purchases transactions. This can help you correct differences, if any, between the system-generated tax amount and the preferred tax amount.
To configure Tax Override, go to Settings > Taxes > Tax Preferences. Select the required option under Tax Amount Override in Transactions.
TDS Amount Override [Global Edition]
Similar to the tax amount override feature, you can configure TDS Override in your organization and enable users to edit the system-generated TDS amount in transactions.
To configure TDS Override, go to Settings > Taxes > Tax Settings. Select the required option under TDS.
Audit Trail [Canada Edition]
We've supported Audit Trail which you can use to track every activity related to taxes like the date and time of when the activity occurred. Click View Audit Trail next to the specific activity related to taxes to drill down into the details of the activity. You can also view previous versions and compare two versions if required. This helps you easily identify and stay on top of the changes made to the tax configurations in your organization.
You can access audit trails from Reports: Go to Activity and Audit Trail report under Activity in Reports.
Configure Date Range for TCS Rates [India Edition]
Keeping up with the constantly changing TCS (Tax Collected At Source) rates in India and associating the correct tax rates in transactions can be tedious at times. We've introduced an option in the Manage TCS section where you can configure specific date ranges for TCS rates by associating a start date and/or end date. Once associated, the specific TCS rate can be applied to all transactions within the configured date range. This helps you avoid associating old or invalid TCS rates in transactions. You can also track the status of the configured TCS rates to view if it's active or expired.
Reject Transfer Orders And Inventory Adjustments
Users with the necessary permissions (permission to approve transactions) now have the option to reject transfer orders and inventory adjustments that were submitted for approval. The rejected transactions can also be resubmitted by users. In addition to this, you can also edit the Quantity Adjusted in inventory adjustments that are in the Approval Pending or Approved statuses.
Note: Transfer Orders are only available for organizations in which the Zoho Inventory Add-on in enabled.
Prevent Duplicate Payments
Some payment methods like ACH or direct debit payments typically take about 2-3 days or longer to get processed. During this time, the related invoice's payment will be pending and your customers might try to re-initiate duplicate payments for the same invoice.
You can now restrict such duplicate payments for invoices using the Prevent Duplicate Payments preference. Once enabled, the Pay Now button won't be shown for invoices for which payment is still being processed. Your customers can make subsequent payments only if the first payment attempt fails. Thus, saving you the trouble of refunding duplicate payments.
This preference will be applied to all payments via transaction PDFs, email notifications, payment links and the Customer Portal.
To enable this, go to Settings > Customer Portal > General. Mark the Prevent duplicate payments checkbox. Click Save.
That marks the end of this month's updates! We hope you found them helpful. Let us know what you think in the comments below. You can also visit the What's New timeline for byte-sized information on the previous feature updates and enhancements.
We'll catch you in next month's product updates. Until then, if you require any assistance or need clarifications, feel free to write to us at firstname.lastname@example.org, we'd be happy to help!
The Zoho Books Team