Students to gain real-world accounting experience with cloud-based accounting software, Zoho Books, in the new academic year.
The Open University is helping to upskill students aspiring to be finance professionals by exposing them to Zoho’s industry standard accounting software, used by businesses worldwide to manage their finances.
In partnership with Zoho, a global technology company, the Open University will provide students with access to Zoho Books, a VAT-compliant, cloud-based accounting software recognised by HMRC, as part of the university’s accounting and finance degree. This collaboration ensures that students, whether returning to education to upskill or change careers, will gain hands-on experience with the tools to help prepare them for their future profession.
This partnership is designed to prepare aspiring finance professionals for the challenges of today’s financial landscape, offering them practical experience that will make them more competitive in the job market.
Qualification lead Kevin Amor, a Lecturer in Accounting and Financial Management, Open University, said: “We want to equip our students with the best skills and knowledge to navigate the ever-more complex world of accounting and finance.
“We’re committed to helping students become highly competitive in the market following graduation. Partnering with Zoho helps our students apply their learning and explore what it is like to use a best-in-class accounting software solution, as they would in their future career. This will add huge value to their employability.”
Prashant Ganti, Head of Product Management, Zoho Finance and Operations Suite, said: “At Zoho, one of our goals is to help future finance professionals equip themselves with the practical know-how to succeed in the finance and accounting professions.
“Partnering with the UK’s educational institutions is a significant step towards achieving that goal. With Zoho Books, modern accounting software, students will not only be able to practice and prepare to handle their clients’ day-to-day operations but also their own firm’s operations, helping them succeed in their professions.”
Students enrolled in the Intermediate Financial Accounting (B250) module in the BSc (Honours) Accounting and Finance degree will have free access to Zoho Books, and can practice core functions that finance professionals and accountants use on a day-to-day basis, such as accounts receivable, accounts payable, bank reconciliation, project billing, manual journals, financial reporting and chart of accounts.
Additionally, the students can also practice tax and regulatory compliance, such as generating VAT returns and reports on VAT MOSS (Mini One Stop Shop), OSS (One Stop Shop) and CIS (Construction Industry Scheme). They will also be able to download the Zoho Books app for iOS, Android and Windows devices to practice accounting on the go.
Zoho Books is HMRC-recognised, comprehensive, cloud-based accounting software that helps businesses take care of their finances, perform core accounting functions, track product stock levels, automate bank reconciliation, generate Bankers Automated Clearing System (BACS) files to pay vendors in bulk, manage projects and stay VAT-compliant.
Businesses can also file VAT directly to the HMRC. Additionally, they can connect to popular payment gateways like Square, Stripe and Gocardless to receive online payments from customers and get paid faster, thereby increasing their cash flow. The software also comes with other advanced capabilities like built-in order management, budgeting, workflow automation, customisations and advanced business analytics. It is compatible in 17 countries around the world.