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Zoho Books - A Brief Overview

ZohoBooks is a cloud-based accounting software for small and medium-sized businesses to manage their financial operations. It offers a range of features to help businesses with invoicing, expense tracking, inventory management, and more. 

For a long while, ever since their inception, Zoho has been known for one thing above all others - their integration with other systems and applications, like Zoho Invoice and Business, in their ecosystem. However, be that as it may, that’s also a pain in the back for their users to leave once this experience gets engraved.

Zoho poses itself to be a great option for corporations that run multiple businesses, since they have a lot of suites. However, when it comes to accounting software, there’s a lot of shortcomings that we’ll address later in this article.

Features of ZohoBooks

ZohoBooks provides a comprehensive set of business features, including:

• Invoicing

• Expense tracking

• Inventory management. 

It integrates seamlessly with other Zoho apps, creating an ecosystem for those already invested in Zoho's suite of products. It's particularly useful for businesses that require social media management, as it includes Zoho Social, similar to Hootsuite.

Pricing of ZohoBooks

One of the standout advantages of ZohoBooks is its affordability, especially the free version, Zoho Invoice, which provides decent value for cost-conscious users. However, the pricing structure for ZohoBooks may not be as transparent as some users would prefer, and it could lead to unexpected costs.

Pros of ZohoBooks

• Seamless integration with other Zoho products, creating a complete business ecosystem.

• Zoho acts as Hootsuite for businesses that have a lot going on, e.g social media, payroll, accounting, communication and more

• They have an extensive product catalog which includes, but isn’t limited to, CRM, Campaigns, and more

• Zoho allows extensive customization, though that comes with a high learning curve

• Zoho Invoice offers a cost-effective solution for invoicing and time tracking.

• User-friendly interface with a minimal learning curve.

• Extensive customization options for tailored business needs.

• Good value for startups and small businesses.

Cons of ZohoBooks

• Zoho's customer support may not meet users' expectations, and it's recommended to pay for an experienced Zoho partner for better assistance.

• A medium learning curve that comes with integrating your business into their ecosystem

• Various users have brought to attention that their customer support is not good, and are quick to blame things on aspects outside of the Zoho corporation.

• Zoho has a higher downtime ratio than most of their competitors. Often users have reported downtime across various of their products.

• Often businesses, especially startups, have stated that their services are great when you’re starting out, but as you grow, working with Zoho gets much more complex and hassled.

• Limited bank integration capabilities compared to other accounting software.

• While it's beneficial for startups, ZohoBooks can become more complex and less flexible as businesses grow.

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Where Does ZohoBooks Lack?

ZohoBooks creates a seamless experience for users already using other Zoho applications, forming a complete business ecosystem. However, its limitations become apparent for those who prefer flexibility and a diverse set of tools for their business operations.

The major shortcoming lies in the platform's performance issues, including slowness, bugs, and downtime, which can disturb business operations. Bank integration capabilities are less robust than competing accounting software, making it less suitable for businesses with complex financial needs.

Moreover, customer support can be frustrating, with users relying on forums for assistance. For larger organizations or those with specific demands, ZohoBooks might not offer the level of support and functionality required. Oftentimes, users have reported that Zoho’s support is either undeniably slow, and when they do respond, they’re not at all helpful, 

Additionally, as a business grows, ZohoBooks may become less flexible and accommodating, potentially leading to a sense of dependence on a single company, which can create challenges in the long term.

The Best Alternative To Zoho Books In 2023 - Fortune App

In 2023, the best alternative to ZohoBooks is the Fortune App. Fortune is a brand-new accounting solution that offers a fresh perspective on financial management. 

It is a minimalistic accounting platform that embraces a modern approach to automating various accounting tasks using AI. It is designed for high-income individuals and internet enterprises, simplifying and automating financial administration while emphasizing the significance of thorough financial tracking. 

Features of Fortune

Fortune offers powerful features:

• Automated Transaction Refresh

• Personal AI Accountant

• Cash Flow Analysis:

• Multi-Bank Connectivity

• Cross-Platform Access

• Automated Updates

• Secure and Trusted

Pros of Fortune

• Streamline Your Finances: Fortune integrates with over 17,000 banks, giving you a comprehensive view of your cash flow, revenue, and expenses in one place.

• Simplified Expense Categories: Easily track your expenses by category, helping you pinpoint areas for potential savings.

• Search Any Transaction: A detailed transaction history allows you to search for specific transactions across all your connected banks, making it easy to find the information you need.

• Cutting-Edge Bank Integration: Connect multiple banks without additional charges and access up to two years of transaction history.

• Access Anywhere, Anytime: Fortune is available on the web and mobile, ensuring you're always in the loop, even on the go.

• Automated Updates: Say goodbye to manual data entry as Fortune continuously refreshes and analyzes your transaction data for updated insights.

• Make Informed Decisions: Empowered with precise financial insights, you can make decisions that lead to increased savings, improved revenue, and minimized risks.

Cons of Fortune

• As a new entry, Fortune may still be evolving and may lack the extensive track record that more established software has.

Why Fortune App Is Better Than ZohoBooks

Fortune App outshines ZohoBooks in several ways. 

It offers more in-depth analytics, embraces a modern approach to accounting with AI automation, and provides seamless connectivity with a wide range of banks across the US, EU, and Canada. 

Fortune's real-time insights, simplified expense tracking, and user-friendly interface make it a standout choice for businesses in 2023. 

While ZohoBooks has its merits, Fortune's innovative features and commitment to user feedback set it apart as a top alternative for business owners seeking a robust accounting solution.