Summary
A startup founder has accused Zoho Books of marking failed transactions as paid, leading to financial discrepancies . Zoho said the issue may stem from payment gateway integration and is investigating. The founder plans legal action while conducting a full audit of past transactions.
A startup founder was left in frustration after Zoho Books marked the failed transactions as paid in the books. Azeem Hussain, co-founder of the order checkout platform FlexyPe, said in a LinkedIn post that, upon a manual audit of their account book, they found that Zoho Books had marked failed transactions as paid, causing financial losses.
“The money never came in. But Zoho said it did. Silently. In our books. For god knows how long,” Hussain said in his post. How they discovered error Hussain said that his company manually audited their account books for the month of March and found that Rs 3.8 lakh were marked as paid in the Zoho Books.
However, the company never received that Rs 3.8 lakh. Now, the company is conducting a manual audit of the entire 2-year period to identify additional errors in Zoho Books. “We process transactions in crores every single day. And even we didn’t catch it because why would you doubt your invoicing tool on something this basic?” Hussain said. Hussain added that he trusted Zoho because it’s a large corporation with about 150 million users.
“Itne log use karte hain, sahi hi hoga. (So many people use it, it must be good)”, he wrote. Taking legal action Hussain said in his LinkedIn post that he is going to file a formal complaint against Zoho for causing financial damage. “We’re filing a formal complaint. And I’m going after every single rupee – plus the damages for the mental pressure and unnecessary workload this has caused,” he wrote.
Zoho’s response Responding to the startup founder’s LinkedIn post, the Sridhar Vembu-led company said that their analysis points to the failure at the payment gateway’s end rather than Zoho Books. “Our team is analysing this issue as a top priority. Our preliminary analysis clearly points to an issue with the payment gateway integration rather than an issue with Zoho Billing/Zoho Books’ functionality.
We have already reached out to the payment gateway for further information,” Zoho Cares wrote. The company assured that their team is working closely with the founder and the payment gateway to resolve the issue. Additionally, the payment gateway company Cashfree Payments said it has received the request and that its team is currently looking into it.
Source
Original coverage by The Financial Express.
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