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Looking for an alternative to Intuit’s Quick Books online? Online applications provider Zoho is releasing Zoho Books, online accounting software designed for small and medium-size businesses, complete with a full feature set such as invoicing software, expense tracking, bank and credit card transactions and more.

The accounting software in the cloud adds to Zoho’s existing portfolio of applications that include CRM, email, project management, HR and recruitment, among others. It is offered at $24 per month, with an additional $5 fee per each additional user.

Zoho mostly sells direct in the U.S. market but does work with a handful of strategic partners and resellers, according to Raju Vegesna, Zoho evangelist who briefed Channel Insider on the new cloud application release.

Zoho has close to four million customers for all of its cloud applications, including Zoho Invoice, a predecessor to Zoho Books. User numbers have been growing by 100,000 to 200,000 new users per month, says Vegesna.

“Market dynamics are playing a big roll in the increase,” Vegesna tells Channel Insider. “Google tends to help. When an anchor tenant comes into the mall it helps all the small tenants around it.”  

Typical customer size was about 25 users in 2005 but has grown to a little under 100 users today, he said.

Zoho Books is available at the Google Apps Marketplace and also at Zoho will offer customized migration services for customers switching from a competitive offiering.

According to Zoho’s official press release about the new application, Zoho Books includes the following functionality:  
Income – Users can generate custom estimates and invoices in multiple currencies—complete with company logos and other customizations. Users can also receive payments online, automate recurring invoices and other repetitive tasks, and send out payment reminders.
Expenses – Simple, intuitive screens let users record bills from purchases, services and other expenses. Users also have the option to invoice for expenses and get reimbursements.
Banking and credit cards – Users can track bank and credit card transactions such as deposits, fund transfers, credit card charges, refunds and expenses. Transactions can then be quickly reconciled with bank and credit card statements.
Contacts – Users can maintain contact information and complete transaction history of their customers and vendors. Contact information can also be imported from Zoho CRM or other systems.
Reports – Multiple reports provide insight on overall business health, allowing users to make informed, quick business decisions. Users can also glance at the Zoho Books dashboard for a quick update on the company’s financial standing.

New users can get started with a 30 day free trial that can be converted to a regular subscription.