Zoho Books

Zoho Books is an online accounting software for small and medium businesses in service industry (no inventory management). It is easy to use, and offers pretty much all the tools you need. There are however limitations/omissions as we pointed out in our review below


Getting Started
Zoho has a nice getting started session like in most accounting apps we have covered so far. When signing up, users are offered to opt either cash or accrual method of accounting, which makes it accessible to a wider network of businesses.
Dashboard in Zoho is suitable for small businesses as it offers limited analytic widgets, yet vital a watch-list is there.
Navigation is straightforward, however you will not find feature names you initially might expect. In Zoho, Sales are under Money In and Purchase/Bills are under Money Out.
Contacts
Adding contacts in Zoho is similar to that of in Clearbooks, and is easy. However Zoh did not allow us to register customers/suppliers with beginning balances. Bulk upload of contacts worked fine, another but is that they were not recognized as customers or suppliers, even though we imported CSV files in relevant sections.
Invoicing
Our experience with issuing an invoice could have been smoother were we able to add a tax from within an invoice form. Overall continuous workflow is there in Zoho Books.
When raising an invoice in a foreign currency, ex-rates were not automatically updated as prescribed in the form. Even when set the rate manually, we could not see the home currency equivalent, which is a bit inconvenient.
Receiving payment may prove a cumbersome if you start dealing with a lot of invoices, as you do it  per invoice. There is nowhere to register a bulk payment from a customer to allocated across invoices later. If you have few customers, this really should not bother you.
In Zoho, you can create Recurring Invoice and register Credit Notes. Also you can manage your email templates in Zoho to accompany invoices and estimates into customers inbox.
Expenses
Expense register in Zoho Books seemed limited, as it was viable to register one expense at a time, meanwhile in most accounting applications, users could input multiple line items in one go. (of course, I am not referring to any invoicing applications).  Apart from it, when we selected a supplier when recording an expense we were unable to apply the payments to bills we received from this supplier.
In Zoho Books, there is also a nice feature – recurring expense, that we reckon a nice add-on.
When registering an expense, we could make it billable, however adding billable expenses onto invoices seemed a bit rigid, as it would add the accumulated expenses without giving any details in nowhere, nor could we add out margins in % or amounts.
Reports
Zoho Books has a comprehensive list of reports enough to be in control. It also offers accountant tools such as general ledger, currency adjustments, journal reports. However it is not as flexible as accountants may want, since there is no way to adjust customer/supplier balances via journal entries.
In Zoho Books reports, users can look behind the scene, as it offers nice drill-down capability.
Conclusion
Zoho Books is a nice online accounting software for service companies (no inventory management), operating in multi-currency. Reports are comprehensive, and user navigation is easy. But for couple of notices stated in the review, Zoho Books proves an app to use.