Apr 9th 2012
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On March 26, Zoho announced its online accounting software, Zoho Books, now supports automatic bank feeds. The new feature automatically retrieves transactions from users' bank and credit card accounts and imports them into Zoho Books effortlessly, thereby reducing data entry considerably.
"Our goal with Zoho Books is to make it the must-have accounting software for every small to medium-sized business (SMB)," said Raju Vegesna, Zoho evangelist. "That means making Zoho Books powerful yet easy to use, so they can effectively track their business financials without wasting time and effort. The new automatic bank feeds feature reinforces that efficiency and effectiveness by reducing the burden placed on the user."
Zoho Books simplifies accounting for small and medium-sized businesses. It is a powerful tool for managing their money and provides complete visibility of their finances. Among its many features, Zoho Books lets users record, monitor, and reconcile their bank and credit card account transactions.
Previously, users had to manually enter the account and transaction information in Zoho Books. To improve the speed and accuracy of this process, Zoho integrated with Yodlee, a digital financial management provider, to establish the automatic bank feeds in Zoho Books. Now, Zoho Books automatically downloads bank and credit card transactions, and users simply match the downloaded transactions and accept or reject them for inclusion in their reports.
Highlights of the new automatic bank feeds feature include:
- Bank rules – To reduce further manual intervention, users can set up bank rules to automatically process data based on specific criteria.
- Data security – Zoho Books uses 256-bit SSL encryption to secure communications between users' computers and the Zoho server.
- Broad industry support – Zoho Books supports automatic bank feeds from several thousand banks and credit card companies.
Zoho Books is now available. Users can sign up for a free thirty-day trial and evaluate the software for their accounting needs. The monthly subscription charge for two users is $24, and yearly subscribers get a two-month discount. Additional users can be invited in Zoho Books for $5 per user, per month.