How to book expenses and reimbursement of expenses in Zoho Books | 3rd Video in the 'How to' series
HTML-код
- Опубликовано: 11 июл 2021
- This is the 3rd video in the how to series related to Zoho Books.
1st Video - How to add items in bulk in Zoho Books
• How to add items in Zo...
2nd Video - How to add customers and vendors in Zoho Books
• How to import or add c...
Zoho Books Demo video -
• Zoho Books Demo in Eng...
Follow on Instagram - / nikita_punjabi
Follow on Twitter - / nikitapunjabi92
Follow on LinkedIn - linkedin.com/in/nikitapunjabi
Website - gstlearninghub.com
For queries contact ca.nikitapunjabi@gmail.com
Thank you so much for this, it has saved my day! I've been spending so much time trying to find out how to do this and your video is the only one that delves into this amount of detail. The expense screen looks a bit different to me, but maybe because the video is a couple years old now and Zoho may have changed it a bit, or perhaps because mine looks different as I'm from Australia and it asks me different questions. But so glad I understand this now - as it was doing my head in before, thanks again.
I’m glad you found this helpful :) thank you for your comment
Just like your teaching,you make it easy to understand
Full of insights ....loved it
Thank you! 🙂
Good explantion!
Hello Nikita, I am using zoho for my business and need to understand some entries along with opening balances and the adjustments etc is there a way I can get all my questions answered if yes please let me know thanks
Mam, our business generate sales invoice from the data from excel report.
Can i make custom module for that report then the same data need to show in invoice. Is it possible?
Hi
Is there a way we can record advance payment given to anyone and then get that reflect in expense to any project.....
Any help on this would be highly appreciated
Hi, Can you suggest a method to account for tour package entry in Zoho Books? B2B to Agency (18 % on Commission) and to the customer with GST
Thank you for the valuable info @CANikitaPunjabi
Hello CA. Nikita, Can you please explain how do we get reimbursement of ROC filing Fees paid by us on behalf of our clients ? Presently, we are incorporating it in our invoice which is unnecessarily inflating our Turnover. How do we avoid that? Thanks.
Even if you’re adding it to the invoice, you can always choose to record that transaction under ‘Reimbursement of Expenses - Current Assets’
Select the item in the invoice, in the same item, go to the end of the row right next to amount there are … three dots, click on Show Additional Information, and select Reimbursement of Expenses instead of Sales
Hi, I need to make salary expense in Zoho Books ? Please guide me in this regards.Thanks
We are facing an issue in the entry of e-commerce sales and bill categorizing in zoho.
What I do if anyone says I will pay for your room rent and cost of food then maximum rs 1000 then reimburse to me what entry in cash book
Hi, My company is a proprietary firm and sometimes I withdraw money from my bank account for personal requirements. How do i book such withdrawal by owner.
After creating expense , need to now payment entry
Hello Madam, Like to know how to charge reimbursement of expense in Zoho invoice
Very useful post mam
Thank you :)
How to enter voucher entry in Zoho books
Nikita Madam ur presentation was great. Can you help me to add opening bill details of customer which are already existing before creation of new organization in zoho book
When I try to match a transaction from Banking - will employee reimbursement account come under VENDOR PAYMENT?
Because there is no other category available Employee
I also wants to know who to Add a New Category when we Match transaction from Banking module.
Hi. I’ll be making a video on the banking module very soon. Stay tuned. You can use ‘Transfer Payment to Another Account’ and select Employee Reimbursement.
hii nikita mam my costumer was security Deposited 50000 and rent pay 60000 with 5% Gst after one year we are refund this Security After pay hes security how can we pass this entry in Zohobook
For professional service, it is TDS module. Isit not
well, thank you for sharing the details. I would like to highlight the thing I face as a non-finance background guy how do you book the fuel and food expenses I mean is this with GST or without gst?
Just select ‘Out of Scope’ for such expenses in the GST drop down since no credit is eligible in case of food and no GST is charged in case of fuel.
can u tell me how to create Reimbursements from clients on expenses like travel..without including GST or HSN /SAC code. i am not being able to create reimbursement invoice from billable expenses.
What GST treatment for such entries ? Can i put under out of scope , others don't fit in it ,as additional gst cannot be charged
hello ma,am... your video is really useful & understandable. I have a query ; how can we add TDS on expenses of Professional fees or consultant expenses? Thank you!
Hi,
You can record expenses like Professional Fees by way of Purchases > Bills. Under bills you’ll find the option of TDS while recording the bill. This TDS will be directly reflected to TDS payable account.
Hi Nikita
I have a question regarding Expensing in Zoho. There is a separate Zoho Product named as Zoho Expense for Expensing. How are they different?
I also want to know how to add Cash Memo in Zoho Books, as there is separate option of Cash Memo in Quickbooks but where is it in Zoho Books?
Thank You
Zoho Expense is specially for expense submissions and approvals say if employees use a corporate card, in such cases Zoho expense will be useful. However, Zoho Books covers entire accounting end to end.
There’s no separate thing like Cash Memo or Sales Receipt, but you can simply create a customer with the name ‘Cash Sales’ and record an invoice.
Amazing video ma'am. Would love to watch a video on reports. Financial reports on zoho books. Can you please make a video on it.. Or is there any way of solution regarding manual correction on opening of current financial year to start it fresh if we have faced a wrong report on last financial year. To start a new fresh year.
You can use journals to correct your opening entries. Sure I’ll make one on reports as well 👍🏻
@@CANikitaPunjabi thank you ma'am
Great video. Can a proprietor claim reimbursements from his firms current account, if he has paid from his savings account?
Yes of course. Make a separate account called Proprietor’s (Name) reimbursement account under the head Other Current Liabilities and record transactions to that account.
I got some sale target incentive from my vendor in form of jv . Pls advise how can I book those type entry in zoho
Thanks in advanced
Do you receive a credit note from your vendor for such incentives?
how to record the amount of expenses which i have given to the staf. in zoho books
It’ll be treated as Employee Reimbursement. Explained in the video.
How to make tds payables and receivables in Zoho book. please explain
TDS Payable can be booked while creating a bill.
TDS receivable can be recorded at the time of booking payments against invoices
Hi
I have some issue here .
I don't have an accounting background, But i have an expnses which i manage through zoho.
I provide cash to my employee everyday for certain work in which he use those cash and get me the bills end of the day. This bills is an expenses but the amount which i give doesnt gets reconciled completely and next day i give cash again . This way i get few bills and then i topup the cash again everyday.
Now i wanna show this in my expense on certain projects , i hve created all details well but only issue is i cant manage to add the expense in a proper manner and it should be shown as reimburse in my employee account.
Any piece of advice
Since this is not actual reimbursement but petty cash, you can maintain a petty cash ledger and book the actual expenses on the basis of bills.
The way you demonstrate the purchase order using Bills and Expenses using Bills, I tend to be lazy by taking this extra step of creating Bills in Zoho. Is it wrong to use only the bank statement to do my monthly matching (reconciliation) thereby bypassing the Bills section?
That’s alright! As long as you don’t want a report of Vendor Balances Overdue, recording directly from the bank statement is alright
How to create a provision in zoho books for the salary and other expenses
You can use manual journals under Accountant
If I have an expense made in behalf of a client(rather than the company), and its has to be reimbursed to the company(and myself). Is an expense that isn’t billable. Is a Gross refund. Whats the correct way to enter it in zoho books?
You can either charge it as a reimbursement if expense in the invoice or if that’s not possible record it in a transition GL - Client Reimbursements Receivable (Other Current Assets).
As for your reimbursement it can be routed through Employee Reimbursements which is explained in the video
Hello Nikita
I want to have your opinion on switching from tally to zoho books
Ofcourse zoho provides various features which are not available in tally
But in which software you would say we can pass entry fast and higher no of entries can be passed in minimum time. ?
With Zoho Books you can reduce your overall accounting time by using features like transactions rules in banking, clone for invoices and bills, recurring bills and invoices, etc.
Hello Nikita
Please tell me how to salary payment record/categories from bank... Actually zoho books automatically access zoho payroll entries.... And my another question is how to categories professional tax, NPS, PF, PT, TDS payment.... I have done purchase and Sales... I facing problem categories thr salary and tax payment which has done from bank... How to match this transaction with payment
Hi, in your banking module under All transactions if you filter with manually added transactions you will find these payment entries from Zoho Payroll.
You can simply match these entries. If it’s not appearing directly due to different dates or anything use the filter option under possible matches to find such manually added transactions and match these.
I'm giving cash by my gpay no and taking cash from bank. How it can be enter in expense.kindly help me
You can use the options - Transfer to Another account and Deposits from other accounts to classify these transactions
How to draw a balance in Excel regarding Zoho books ..can u make a video about that... Thankyou ma'am!
You can download Balance sheet in Excel from reports section in Zoho Books
Good Afternoon - I am slightly confused and not completely understanding the whole employee reimbursement expense..... So apparently incorrectly when an employee hands in their mileage log for reimbursement we have been entering that data in the enter mileage tab under expenses - is that tab strictly for entering mileage of company owned vehicles where it could be an expense but not specific to an employee or for reimbursement? ZOHO support is sooooo slow and doesn't understand much
Do you use Zoho Expense? If yes, then that's a great solution for employee reimbursements. If not, then you can use the mileage tab within expenses Zoho books. To track it employee-wise you can create separate account like 'Reimbursement to Employee A', Reimbursement to Employee B', etc. all under the head 'Employee Reimbursements' in Chart of Accounts.
How do we pass journal entries in zoho books?
Go to Accountant > Manual Journals
Hi Nikita. You videos are helpful. Thanks for making these
I have a query if you could help would be great, I wish to add employee salaries in Zoho books. Is there a way I can do it without Zoho payroll? If yes please can you help us know how?
You can create separate employee accounts in Chart of Accounts to keep track of specific employee payments. Or alternatively you can maintain all payments via Salaries and Wages and maintain the details in MS Excel.
@@CANikitaPunjabi Thank you :)
Nicely explain
Thank you :)
Hai Nikki ❤🎉 How r u 🎉
Tq. Give Few Entries Adequate
How to configure approval for these expenses submitted in Zoho Books?
You can go to settings > preferences and set-up approvals
@@CANikitaPunjabi In Zoho Books they don't have approval for expenses
MADAM,
CAN YOU GIVE DETAILS ABOUT HOW TO MAINTAIN FIXED ASSET REGISTER IN ZOHO
Hi,
Currently you will not be able to maintain a fixed asset register separately in Zoho. They will soon come up with that functionality. But as of now it’s not there.
How to include expenses in sale bill for the customer
Like transport charges
service charges
while making a sale invoice
how to add these things
Add those expenses as an item and select the correct account head while generating the sale bill. Take your cursor to the end of the item row, you’ll find an option ‘show additional information’ under that you select the correct expense ledger for that expense item.
Thankyou mam@@CANikitaPunjabi
How to book payment for Employee Reimbursement
From the banking module select Employee Reimbursement as the account while recording the payment transaction
How to enter PDC cheque in zoho book???
Video for pdc plz...
You can record it as Payment Received and send park it under ‘Undeposited Funds’. Once it’s received in the bank, you can transfer from Undeposited Funds to Bank account
i am paying, from the company bank account, office rent, this is annual rent paid quarterly in 4 cheques, 1 current and 3 PDC - question is, for example, i have paid 12000 rent in 4 cheques of 3000 each, i need to distribute the expenses for the 1st current cheque...1000-1000-1000, 1st 1000 is the current office rent expense and the other 1000-1000 are for the next 2 months, how can i do this, 3000 is already deducted from my bank account...
First you can record the payment against the vendor. It’ll get transferred to Prepaid Expenses. Then you can record a bill at the start of every month when the rent becomes due. And using the Apply Credits option you can apply the payment made to the vendor against each bill at the start of every month.
@CA Nikita Punjabi
If I record against the vendor won't it take the full amount as an expense?
Perhaps you meant in the bank pay to prepaid expenses-then pass 3 different JVs for the different due dates like date-vendor-to prepaid expenses
@@mikelib62 - When you record it directly from your bank as a vendor payment, there’ll be no impact on expenses. It’ll be Vendor to Bank and will be transferred to Prepaid expenses.
Expenses to Vendor will be passed only when Bill is entered
How to do a payment for expense reimbursement , Can you please explain that
You can setup a separate Expenses Reimbursement account and book all expenses to that account. All payments will also be then booked to Expenses Reimbursement account.
Fine thank you for the message
Hi Nikita Ma'am,
Nice & Detailed video i want more detailing regarding Expense Reimbursement on employee name.
Can i also manage employee reimbursement accounts in my zoho books?
You can checkout Zoho Expense for more detailed reimbursement claims.
You can manage by creating the respective employee reimbursement account in the chart of accounts section of Zoho Books
For that we have to purchase different licence for each employee that will too expensive for us
Can i manage by making different accounts for reimbursement like "Reimbursement Account(Aaditya) or Reimbursement Account(Neeraj)" that i will clear directly from company account.
@@eddywalia28 - Yes you can do that!
Hindi me bolti to Zyada samajh me ata....
Likh dia kro na kon sa Language me hai...😊
Just like your teaching,you make it easy to understand