Adding support for core accounting capabilities including fixed asset management, and the construction industry scheme (CIS) in the UK
Zoho, a global technology company, today announces the addition of key product capabilities in Zoho Books, Zoho Inventory, and Zoho Practice, helping businesses and accountants enhance operational efficiency, simplify routine financial tasks, and ensure regulatory compliance. These capabilities aim to support organisations in streamlining many of their internal processes by providing them with necessary tools that help them grow.
“The construction industry is an important segment for us where we are seeing good traction in the UK market, said Sachin Agrawal, Managing Director, Zoho UK. “As part of our commitment to making accounting and tax compliance simpler for businesses, Zoho Books now supports CIS compliance for construction businesses, streamlining the entire process. We’ve further strengthened Zoho Books, Zoho Inventory, and Zoho Practice with powerful capabilities that help businesses and accountants optimise their financial workflows, reduce manual effort, and improve operational efficiency — empowering them to scale with confidence.”
Many businesses follow manual processes while performing critical financial and operational tasks. This often leads to delays, errors, and duplicated efforts, resulting in financial inefficiencies, thereby increasing costs and hindering growth. The new enhancements across several key products from Zoho’s finance and operations platform help businesses and accountants optimise financial processes with less effort:
● Zoho Books, a HMRC-recognised, VAT-compliant accounting software solution,
introduced a suite of new features, including fixed asset management which allows recording of asset details, automatically calculates depreciation based on specified percentage, method, and period, and generates depreciation forecast reports, simplifying the bookkeeping process. With progress-based invoicing, businesses can incrementally invoice customers for the duration of a project, improving the cash flow.
The accounting application now supports Construction Industry Scheme (CIS) compliance, allowing businesses to make CIS deductions on bills and invoices automatically. Additionally, monthly CIS returns can be filed with HMRC directly from the application, simplifying compliance for construction businesses. Furthermore, businesses can export Bankers Automated Clearing System (BACS) to initiate bank transfers for making payments to one or more vendors, streamlining payment processing.
Businesses looking to streamline their travel and expense management can use the Zoho Expense add-on. This automates employee expense reporting, ensures budget control, and enforces company policy compliance with the reimbursed expenses automatically syncing to Zoho Books, drastically reducing manual work.
● Zoho Inventory, an inventory management software solution, now provides businesses with an effective tracking and labelling system to locate items even within a large warehouse, speeding up order processing. Role-based access allows users to manage inventory operations within assigned warehouses. With a new stock counting feature, businesses will be able to track and count inventory, with warehouse staff using the mobile app for stocktaking and submitting counts for approval. Stock alerts can be set to prevent stockouts when inventory reaches a certain count.
These advanced warehouse management capabilities are also available on Zoho Inventory’s iOS and Android applications, empowering employees to perform their tasks faster and more effectively. Additionally, the solution now supports the moving average inventory valuation method, often used by businesses that deal with stock with fluctuating prices, helping them calculate their total asset value based on their previous purchase prices.
● Zoho Practice, a practice management application for accounting firms 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. Accountants can now use a self-service portal to discuss requirements, request documents, send questionnaires, and receive digital signatures, enhancing collaboration with clients using any accounting application. They can now create and manage ledgers for clients without a full-fledged accounting system by importing bank statements and transactions, enabling them to maintain their accounting records in a single place effortlessly.
The application also offers workflow automation for tasks, client requests, and questionnaires, along with customisable functions and scheduling options, such as sending timely reminders for upcoming tax filing deadlines.
Pricing and Availability
All the features announced today for Zoho Books, Zoho Inventory, and Zoho Practice are available for immediate use.
For more details on pricing, please visit the following pages for each product: Zoho Books, Zoho Inventory, Zoho Practice.
About Zoho
With 55+ apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho Corporation is one of the world’s most prolific technology companies.
Zoho is privately held and profitable with more than 15,000 employees. Zoho is headquartered in Chennai, India with European offices in The Netherlands, UK, Germany, France and Spain. Others include the United States, India, Japan, China, Singapore, Mexico, Australia, and the United Arab Emirates.
Zoho UK recently achieved Cyber Essentials Plus certification, a UK Government backed scheme that will help protect the company against a whole range of the most common cyber attacks.
Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. Read more about Zoho’s privacy commitment here: https://www.zoho.com/privacy.html. Zoho operates its own datacenters across the world, including two in Europe. More than 100 million users around the world, across hundreds of thousands of companies, rely on Zoho everyday to run their businesses, including Zoho itself. For more information, please visit www.zoho.com.