How to track income and expenses by branches in Zoho Books

What are Branches?

Branching and expansion is a sign of flourishing business. When a company is successful, it can afford to spread its operations to other areas and serve a wider customer base. When a company has multiple locations, it's important to keep tabs on all the money flowing in and out of each one to gauge its success. Zoho Books allows you to set up different locations and monitor their financial activity.

How to enable branches?

In order to use Branches in Zoho Books, you must first turn it on.  

-Select Branches from the Settings menu.

-To activate the branching functionality, select the checkbox “Enable Branching”

But, Zoho Books Canada Edition does not yet include the branch functionality. Two alternatives exist, though.

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Alternative 1: We can update all costs with reporting tags that we've created for our branches. We can then modify the reports to include or exclude information using the reporting tags.

Alternative 2: we can create custom fields for each branch and assign all of their income and expenditures to those. Unfortunately, Zoho Boo

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Let’s explore two possibilities in detail:

What are Reporting tags?

customer base is increased and spread out over a variety of industries and geographies, it is difficult and confusing to identify information specific to a given domain or region when reports are generated. Zoho Books' Reporting Tags feature allows you to categorize your business data and use it to filter reports.

Contacts, Products, Quotes, Sales Orders, Invoices, Recurring Invoices, Credit Notes, Expenses, Recurring Expenses, Bills, Vendor Credits, and Journal Entries can all have reporting tags attached to them.

How to create Reporting tags?

Reporting tags can be customized to align with the specific requirements of a firm, allowing for the inclusion of a diverse range of alternatives. In order to generate reporting tags:

-Go to Settings > Reporting Tags.

-To add a new tag, select the Add New Tag button.

-Provide a Tag Name and the Options.

-To add additional options, select + Add Another Option, or to remove an option, click the

Trash Icon.

-Select Save.

How to delete a reporting tag?

-Settings > Reporting Tags

-You can edit, mark as inactive, or delete a tag by hovering your mouse

Note: The system allows for the creation of up to ten reporting tags, with each reporting tag having the capacity to accommodate a maximum of 500 alternatives.

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Tags cannot be removed if they have already been associated.

How to Associate Reporting Tags?

After creation, Reporting tags can be associated with items, contacts, and other transactions.

-You can add a new item or change a current one on the Items page.

-After you're done, click Associate Tags at the bottom of the page.

-Click save

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How to Associate Reporting Tags to Contacts?

-Create a New Contact or edit an existing one on the Contacts page.

-Enter the necessary information and select the Reporting Tags tab at the bottom of the page.

-Click save

How Associate Reporting Tags to Transactions?

-Create a new purchase or sell transaction.

-Enter the information and then select More Options (the three horizontal dots adjacent to the table).

-In the resulting pop-up, select Add Extra Data and then provide the reporting labels/tags.

For expense and recurring, tags can be associated under Reporting tags at the bottom of expense page.

How to Generate reports?

You can finally run your business overview reports and filter them using the tags you've associated with transactions. To do this:

-Select a report from the Business Overview sub-section of the Reports module (e.g., Profit and Loss).

-Click "Customize Report" and choose the tags you want to use.

-Click run report

Alternative 2

Field customization  

Using Custom Fields, you can save information that is specific to your company. You can use these extra spaces to record additional information about your clients, products, invoices, and any other business transactions.

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How to create custom field?

-Navigate to Settings > Preferences.

-Select the module, such as Items, for which you wish to add the custom field from the menu on the left.

-Choose the Field Customization tab.

-Click the + New Custom Field icon in the upper-right corner of the page to create a new custom field.

Add the necessary information:

-Label Name: Enter a name for your custom field.

-Help Text: Enter a brief text describing the purpose of this custom field.

-Data privacy: For security reasons, please choose whether to enter personally identifiable information or electronic protected health information.

-Default Value: You can provide a default value for fields that do not contain PII or ePHI. This value will be displayed as the default for this field.

-Is Mandatory : Mark this option as True if you would like the custom field to be required, i.e., it cannot be left vacant.

-when creating transactions, display: Mark this option as Yes if you wish to display this custom field when creating transactions.

-Display in all PDFs: Mark this option as Yes to include the custom field in the PDF of the transaction.

-Preview: You will be able to view the appearance of the custom field when creating a transaction.

-After entering all the details, click Save.  

How to edit custom fields?

-Navigate to Settings > Preferences.

-Select the module whose custom field you wish to modify.

-Choose the Field Configuration tab.

-Place your cursor over the custom field you wish to edit.

-Click the Edit button.

-Make the necessary adjustments.

-Select Save.

How to generate profitability from Analytics?

generating bespoke statistics Form analytics is where we come in, since not everyone can perform it. Therefore, you need professionals like us to produce such custom reports.

The creation of customised reports is a process that involves tailoring reports to meet specific requirements or preferences. Form analytics is a specialised field that requires expertise and cannot be effectively carried out by someone lacking the necessary knowledge and skills. In order to produce unique reports, it is imperative to use the expertise of professionals such as ourselves. 

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