Integrate RazorpayX with Zoho Books to automate vendor payments, booking and reconciliation.
Zoho Books is a financial platform that enables you to create invoices, maintain and reconcile bank accounts, and make tax payments to ensure GST compliance.
If you are a Zoho Books user, you can integrate your Zoho account with RazorpayX to sync payment information from RazorpayX to Zoho Books and reconcile. Post integration, all the vendor payments made on RazorpayX will automatically appear on your Zoho Books platform, saving you time and effort.
User integrates RazorpayX with Zoho Books from their Vendor Payments App. Please note that currently, Zoho Books integration works only with the Vendor Payments app.
User authorizes integration and confirms RazorpayX Bank Ledgers (separately for Virtual Account and Current Account). If account does not exist, then user is alerted to create a RazorpayX Bank Account Ledger and RazorpayX Virtual Account Ledger.
Review the Ledger Account Mapping created and confirm Label, Account Name, and Account Type.
Invite the CA or Accounting Professional also to review the Account Mapping.
User uploads the vendor payment on RazorpayX via OCR/Email/Vendor Portal/Payout.
User adds the missing details, if any and selects the expense type from the drop-down menu.
User makes the payment to the vendor.
Based on the mapping setup, the payment entry and reconciliation entry is made in the Accounting tool using APIs. Bill entry, payment entry, journal entries, and the reconciliation are all automated.
The reconciliation is then passed with a UTR number and bill number which is consistent for both RazorpayX, as well as Zoho Books allowing the user to visually validate the payment.
Once the entries are made in both the apps, you can view the status of the sync in the Vendor Payment App.
Watch this video to know more about RazorpayX and Zoho Books integration:
Handy Tips
A trail of the entries made is kept on RazorpayX that can be accessed from the CA portal. This helps the CA maintain a trail of all the accounting entries passed via RazorpayX. The CA can download the Account statements, Vendor Portals, Payouts & Tax Challans for their own compliance work from the CA Portal.