You first need a Payex account before you can enable the online payment option.
Refer to this article
on how to register for an account with Payex
This extension is only available for these Zoho Books plans:
b. Finance Plus
1. Fill up this form
to get the link to install the Payex
extensions in Zoho Books
. Enter your Zoho Books
organization ID and superadmin email address in the form.
How to get your Organization ID?
Login to Zoho Books using your superadmin ID (account owner) and you may get the organization ID and email by clicking on your profile picture at the top-right of your screen.
2. You will receive 2 separate emails with a link to install the private extensions.
It will take up to 30 business minutes to receive the emails as a manual process needs to be done at the back end. This is a temporary measure and this step can be skipped once the extension is being made available publicly in Zoho Marketplace.
a. Installing the Payex Payment extension. This will enable the Payex payment gateway in Zoho Books.
Click the link in the first email
Choose your Zoho Books Organization, tick the TnC acceptance and click ‘Install Extension’.
b. Installing the Payex Settlement extension. This is to have dedicated accounts to book Payex'es transactions and to auto-capture the settlement transactions daily from Payex by running a scheduler.
Before you begin, prepare these parameters for use in the subsequent steps. Login to your Payex portal and go to Settings to get these:
You may only proceed if you have access to your Payex portal.
i. Payex MID
ii. Payex Merchant Email
iii. Payex Secret
Copy the secret using the copy button.
Once you have the parameters ready, proceed with these steps:
Click the link in the second email
Click 'Authorize' on the first connection 'Payex' to grant access.
Enter UserName as the value from step 2b(ii)
Enter Password as the value from step 2b(iii)
Click 'Authorize' on the second connection 'zbooks_payex' to grant access.
The connections are now authorized. Hit 'Next'.
MID - Get from step 2b(i)
Leave other fields blank
3. Once the installations are completed, you can see the extensions in your Zoho Books account under Settings->Marketplace.
4. These accounts will be created by the 'Payex Settlement' extension:
a. Payex Settlement - the deposit account for payments and settlement (fees)
b. Payex Fees - the account to record the fees as expenses
5. Go to Settings->Online Payments to configure the payment gateway.
Payex Online Payment Setup
a. In Zoho Books, go to Settings->Online Payments. From the list, you will see Payex and click ‘Set up Now’.
b. Enter your Payex registered email and merchant secret (from 2b). Also, choose 'Payex Settlement' from 4a as the bank account. Hit ‘Save’.
Your online payment gateway setup is now completed! Your customer may now pay you directly from the invoice that you sent them.
6. When creating an invoice, you will now see Payex as the option for the online payment.
A link will be available for your customer to click when they receive an invoice. Once clicked, they will be forwarded to Zoho Securepay payment page and they can proceed to make payments through the payment modes offered by Payex – FPX, Credit Card and e-Wallets.
You can now take advantage of attractive rates from Payex
when customers pay using local Malaysian banks. Check out the rates here
7. Once the customer has made a payment, a Payment Received record will be created in Zoho Books and the Invoice will be updated as Paid. This makes it easier to track the invoices that you have issued.
You may also generate Payment Links to get payments from your customer with Payex.
8. There will be instances where you need to pull the settlement transactions manually. By default, the scheduler will always get the settlement transactions from Payex for the current date. You will have the option to also pick the date range that you prefer.
a. Settings->Marketplace->Installed Extensions->Payex Fees->View Details->Configure. Enter your date range and hit 'Save'.
The dates' fields should always be left blank for auto-run. You only populate these fields if you need to do a manual pull of the settlement from your Payex portal.
b. Based on your preferred run date, then go to Settings->Automation->Schedules. Click on the small arrow next to 'Edit' and hit 'Execute Now'. This will run the scheduler for the date range that you have selected.
Don't forget to clear the dates after you are done with your manual execution. Failure to do so will cause the scheduler to only pick the date range in the settings.
9. You can now sit back, relax and let the scheduler run on its own to capture the settlement from Payex. The scheduler will perform matching and categorization for the transactions against the records in Zoho Books automatically. Payments will be matched while any fees will be categorized as expenses and reflected in the 'Payex Settlement' account (step 4a) and in the 'Payex Fees' account (step 4b).
10. For bank account reconciliation, you may want to match the settlement amount from Payex that was deposited into your bank account (as registered in Payex portal).
a. If you have auto-feed enabled for your bank account in Zoho Books, you may see the settlement transaction(s) under the 'Uncategorized' tab in your bank account as below:
b. Go to the 'Payex Settlement' account to perform a fund transfer. We will treat this account as a clearing account where all funds need to be transferred to the actual bank account when you receive funds from Payex.
Enter details to match step 10a.
Once saved, the amount will be transferred to the bank account in 10a.
c. You can now perform a matching action in the bank account.
That concludes our setup for Payex
online payment in Zoho Books
. Feel free to reach us at firstname.lastname@example.org
with the subject 'Payex Integration' if you need further assistance.