PaySimple vs. Zoho Books

PaySimple has made it next to impossible to become PCI compliant unless we purchased a separate computer for the sole purpose of invoicing. We switched to Chase Bank who does not store sensitive info on our computers allowing us to accept credit cards and still remain PCI compliant. Our money is available much faster by not using the 3rd party. Additionally, a simple company name change required more paperwork than closing the account and setting up a new one even when the same bank account was going to be used. This was the primary reason to shop around. We happily contacted Chase Bank and now save $125 a month and receive access to our funds faster. I cannot believe I stayed with PaySimple as long as I did. It's amazing anyone would jump through the hoops of PCI compliance when the technology exists to keep sensitive information off your small business computers. If this review stops anyone from paying those monthly fees, the time was well worth it! PaySimple, requires business owners to fill out forms that make no sense in laymens terms. Chase Bank fills them all in for you and highlights the areas that need to be signed and initialed. PaySimple, charges excessive fees and in my opinion has very emotional customer service reps. Chase Bank, was eager to help and get things rolling so you can focus on your business. I would never recommend PaySimple.

If using other cloud applications and you wish to create Zoho Books transactions via APIs, Zoho Books is great. The overall UI and flow of the application are great. If you need a detailed job cost accounting solution and robust reporting there is some room for improvement here.

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• PaySimple is awesome for recurring payments. It's easy to set one up and make changes as needed. Without this feature, our business would be dead. Being able to easily set up recurring payments for our retainer is a must and PaySimple does it beautifully.
• The payment portal feature is also really good fro collecting payments of differing amounts. We setup a single portal where customers enter the payment amount accessed from a link in the invoice email. This feature has transformed out collections and cut down our time to get paid significantly.
• If you do have product type offerings, it's easy to setup individual products or an entire store.

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• Zoho Books invoicing and receipting features are second to none. We find it easy to quickly invoice clients and add items to their bills and also for our own receipting internally.
• The accounting features are great for our accounting team to be able to see where we are financially and how the business is doing.
• The ability to add contacts and run a mini CRM channel with clients within Zoho is invaluable. Since we use this in conjunction with our other CRM channels, it helps to have a centralized place to follow up and see through a sales funnel.
• Zoho Books allows us to take payments from clients around the globe a feature we didn't have when we used another accounting system.
• The pricing for Zoho Books is fairly reasonable for an SME organization which is a great for us as it pays itself back many times over every month.

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• More proactive and empowering role in merchant fee's and alternative processors. Transparency is challenging in understanding Paysimple's role and relationship to the processors.
• Identifying areas for further value to clients.
• More targeted small to mid-size business perspective to anticipate growth challenges and prevent blocks on funds for legitimate sales and growth.

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• Zoho Books is only available in Texas and California. There is no integration allowed for paying employee expenses. The absolute worst aspect is the fact that if you make even the slightest error in data input there is no backing up. You cannot undo an error.
• The system does not allow change once implemented, so you must get every one of your beginning balances perfect. The practice of Journal Entries is cumbersome. When reconciling, Zoho Books has adopted a number of required steps that significantly overcomplicate reconciliation using practices that are not consistent with general accounting principles in the US.
• On the customer side, you must look in two places to see the beginning balance and the current receivables that might exist for current invoicing.
• The way the system works, you must avoid having much trust with the balances depicted. So far, it appears that Zoho Books uses what we called in school "that new math."
• It would be terrifying to rely on this bookkeeping system to support an IRS Audit. The system violates too many fundamental accounting principles.
• The software is used by so few people that there is concern that we might never find a skilled bookkeeper.

Customization is the biggest struggle for us and most of the time we need to involve a tech person. The chat support is a great feature and very helpful. It would be great to be able to customize and create invoices and correspondence (templates) such are reminders in multiple languages within one organization. The currency (USD) would be the same. We have clients in different countries that don't speak English but pay in USD.

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The support team feels very disjointed. We have filtered through a number of "lead" contacts and are frequently spammed by other Zoho members. Once getting an appropriate support contact on the phone - the team is very helpful, it just takes a lot of hoop jumping to get there. We actually unsubscribed from their support package as we were not getting the value we were looking for.

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Authorize.net and a handful of other merchant processors and gateways. Most payment gateways (online portals to process payments) are rudimentary and not extremely intuitive. PaySimple is not and they are constantly coming up with new ways to improve upon an already very impressive platform.

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We had a lot of problems with Exact Online, support-wise and price-wise. So Zoho Books wins on every point there. While Exact offers way more options, it tends to be really slow... and complex. Again Zoho Books wins. If you want an easy-to-use tool and not pay a lot of money, or if you are a small administration office with a few clients, this tool will be perfect for you.

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• Because we've got a really awesome rate with them it's definitely a positive ROI. I can't say what that figure is but it's pretty good. Also, our customers have a huge ROI over their prior way of getting payment from their customers.

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• Integration: Zoho Books offers out of the box integrations to extend the functionality and connect with the applications you love like MailChimp, Microsoft Outlook, PandaDoc, and Quickbooks, etc.
• Flexibility makes Zoho Books great!
• Since I can use forecast reports, I can create customizable sales forecast data from the dashboard to accurately measure revenue forecasts and establish sales quotas.

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