Solution
Step 1: Create a Custom Field in Zuora under Account Fields
Step 2: Create the Custom Field in SalesForce environment under Billing Account à New Field under Custom Fields & Relationships
Step 3: Add the Field to the related lists in the Account Layout.
The field is listed in the Layout as part of the Billing Account Fields
Step 4: Update the Custom field in Zuora and perform Sync
Step 5: Updated details are shown on the Billing Account in Salesforce
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