Add a Bank Account or Credit Card Account
- Accounts Connected with Bank Feeds Automatically
- Bank Feeds
- Adding Accounts Manually
- Importing Bank Statements Manually
- Enabling Automatic Bank Feeds
In Zoho Books, you can track your transactions, have manual and automatic feeds imported for your bank and credit card accounts.
Accounts can be added either by,
- Connecting with Bank Feeds automatically.
- Manually importing statements and recording transactions.
Navigate to the Banking module and click on the Add Bank or Credit Card button, placed in the overview screen of the Banking module.
Accounts Connected with Bank Feeds Automatically
Zoho Books can be connected with more than a thousand banks and credit cards readily available from different regions across the globe. Enter the name of a Bank or Credit Card that you would like to connect with Zoho Books and select from the drop down.
- Some popular banks are also listed below the search field.
After selecting the bank or credit card, enter the login credentials for the account to be connected with Zoho Books. This will automatically fetch bank feeds into your account.
Enter the login credentials
Select the account that you would like to connect with Zoho Books. Select a date to download transaction history, transaction history from the last 90 days can be downloaded into Zoho Books. Select the currency and continue.
Now, your account is connected with Zoho Books. Your transactions from the selected date will be automatically imported and for transactions before the selected date period or historic transactions, you can always import statements into your account by selecting the Import Statement option.
P.S.: Zoho Books works with a third party service provider called Yodlee, a major online banking solutions service provider. Yodlee collaborates with several banks to provide bank feeds. Zoho Books does not store any of your login credentials.
When you choose to receive automatic bank feeds in Zoho Books, your Netbanking credentials will be shared with Yodlee.
Bank Feeds
Once you add an account from the list of banks available, bank feeds will be automatically enabled by default.
To identify if the bank feed in your account has been activated or not, just check on the bank feed icon present next to the account name.
For your account with bank feeds you can,
Update Credentials
Login credentials of your bank account is very important for the bank feeds to be fetched into your account. Some cases where it will be necessary to update your credentials are,
- You have changed your login credentials.
- Requested for a new password from your bank.
Refresh Bank Feeds
For non-MFA bank accounts, bank feeds are fetched every 24 hours into your account automatically. If your bank feeds are not fetched automatically, it could be due to a temporary glitch. You can refresh the bank feeds manually. However, manual refresh is limited to once a day.
Some banks adopt MFA for security purposes. If your bank adopts MFA, you will have to manually refresh the feeds.
What is MFA?
Multi-Factor Authentication is an authentication approach which requires the presentation of two or more authentication factors like questions, images and code verification. Unless the authentication is cleared the bank will not allow Zoho Books to automatically fetch the feeds.
To manually refresh bank feeds:
- Go to Banking module and select your bank account.
- Click on the Settings Icon from the bank account.
- Select the Refresh Feeds from the drop down.
- If you are asked for additional credentials, enter them and click on the Continue button.
Note: When bank feeds are fetched, either automatically or manually, they will be fetched only till yesterday. That means for today, you will be able to see the bank feeds only till yesterday.
Deactivate Bank Feeds
You can deactivate bank feeds if you do not want it to be fetched from your bank.
- Navigate to the Banking module and select the account you wish deactivate feeds for.
- Click the Settings icon and select Update Credentials for updating the bank login credentials.
- Select Refresh Feeds to refresh the bank feeds or select Deactivate Feeds.
If the bank or credit card you are searching for is not listed or unrecognised, you can always manually add them.
Manually Adding Accounts
Sometimes, the bank or credit card you are searching for might not be available. In this case, you can manually add those accounts and import statements.
- Navigate to the Banking module and click on the Add Bank or Credit Card button.
- Click on the Enter your account manually button, to add an account manually.
Bank Account
If you wish to manually add a Bank accounts, select Bank option from the Select Account Type tab.
| Fields | Description |
|---|---|
| Account Name | The name of your bank account that will be displayed in the transaction pages. |
| Currency | Currency in which the bank account transactions are handled. You can select the currency from the drop down. |
| Account Number | Account number provided by the bank to your account. |
| Bank Name | Name of the bank which holds the account. |
| Routing Number | Routing number is an exclusive identification number assigned to banking institutions by the American Bankers Association (ABA). |
Credit Card Account
If you wish to manually add a Credit Card account, select the Credit Card option from the Select Account Type tab.
| Fields | Description |
|---|---|
| Account Name | The name of your credit card account that will be displayed in the transaction pages. |
| Currency | Currency in which the credit card account transactions are handled. You can select the currency from the drop down. |
| Bank Name | Name of the bank which issued the credit card you hold. |
Importing Bank Statements Manually
Now, import statements into the manually created account. Click the Import Statement button to import. Zoho Books supports CSV, TSV, OFX, QIF, CAMT.053 and PDF format files to be imported as statements.
In the import statement window,
- Choose a file to be uploaded in one of the supported file formats (CSV, TSV, OFX, QIF, CAMT.053 and PDF).
- Click the dropdown under the Amount Column Type section:
- Select Double Column if your import file has two different columns recording deposits and withdrawals in it.
- Select Single Column and Amount Type if your import file has a single column indicating a debit (withdrawal) or a credit (deposit) transaction and a separate column for the amount.
- Select Single Column with Negative Values if your import file has just one column where positive values indicate deposits and negative values indicate withdrawals.
- Select the encoding of your choice and click Next.
- Match the fields with the Import File Headers and hit Next.
- Check the preview and select Import.
To know more about importing files, click here.
P.S: Download the sample file provided to have an insight on the perfect import file.
Importing PDF Bank Statement
Zoho Books has integrated with Perfios, which is a FinTech company, that helps in importing PDF bank statements with ease. Now, you can import the PDF bank statements of all the banks in India into Zoho Books via Perfios.
To import PDF bank statements:
- Select a bank account to which you want to import the bank statement.
- Click the Import Statement button in the top-right corner.
- Click the Choose File option and select Choose File from Desktop or Choose File from Documents.
- Select the PDF bank statement and ensure that the PDF file size does not exceed 1 MB.
- Click Open.
- Select the bank of the PDF statement from the dropdown in the popup and check the I agree to the Terms and Conditions option.
- Click Save and the PDF will be uploaded.
- Check the This file is password protected option if the PDF can be unlocked only using a password and enter the password.
- Click Import.
The bank statement will be imported into Zoho Books immediately. If the PDF statement format has been changed by the bank, then the statement will be imported within 48 hours.
Note: As soon as you import the PDF statement, your Zoho Books bank account will be integrated with Perfios.
Disabling Perfios Integration
If you don’t want to import PDF bank statements, you can disable the Perfios integration. Go to the bank’s Overview page in Zoho Books, click Disable Integration next to Perfios to diable the integration. Once you disable the Perfios integration, all your data that is with Perfios will be deleted. However, the data you had imported to Zoho Books will be available.
If you enable the integration again and import the previously imported statement to Zoho Books, a duplicate copy of the statement will be created in Zoho Books.
Enabling Automatic Bank Feeds
Manually added accounts can be enabled with automatic bank feeds too. Connect the bank or credit card from the list provided with the manually created account.
- Select the account for which you wish to enable automatic bank feeds.
Navigate to the Settings icon and select the Automatic Import option.
Search for the bank which you would like to connect with the manually created account. Enter the account credentials and connect.
Adding Transactions
Banking Overview
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