The revolution that is happening in technology in the last 2 decades is bringing digitalization to the limelight. Across the country, several small business owners make a profit from selling groceries, vegetables, mobile accessories, etc. Every person who offers a service or sells a product with a small investment is called small business owners. They do not make huge profits but make a decent ROI from their business.
There is a need for all these entrepreneurs to go with the flow of technology to stay ahead of the competition. Accounting is one important aspect that helps businesses to grow. Business owners must know how much inventory is required, what should be the investment, what are the credit debits they hold with their customers, etc. Every transaction they make is important to take their business to the next level. Thus these people require the help of an accountant who can manage their account books.
One such accountant who can provide them with an account book and take care of their cash transaction for free is the Khatabook app. This is an application developed, which can be downloaded on any smartphone to help, to make the payment, to receive payment, and to manage the accounting records. There are several features in this app that act as a pillar to grow small businesses. The cash register is one of the features which will be discussed in this article.
A cash register in simple words is a book maintained by business owners to record the following activities that help them count money in hand.
Thus, a cash register acts as a cash management system to enhance smooth business operation.
In the olden days, these cash registers are books managed by an individual, manually. However, slowly online cash books were used to manage huge finances. In the recent past Khatabook app is performing a cash management task in one click. Understand how to use these options on your Khatabook app.
Step 1: First, open your Khatabook app and you can find an icon More at the bottom as shown in the screenshot.
Step 2: Click on More which will take to you the next page as shown with several options including request money, payment history, QR code, cash register, etc.
Step 4: Click on You Gave or You Got present at the bottom in red and green buttons respectively. This is basically what is in your account (credit) or out from your account (debit)
Step 5: If you want to give money to someone click on You gave and enter the details including the amount, for what purpose, and save.
Step 6: Now you will see the current balance after your entry.
Step 7: Likewise, you can enter all details concerning each customer and the app will take care of the calculation.
Step 8: Finally, you can take a look at all transaction details and also know how much balance you have in your account and what the due for collection is.
This feature will help you not just to do the calculation but also send SMS or link in Whatsapp to remind the customer on pending payment. Thus it enables you to collect your due payment without any hassle of calling the borrower.
Upon mastering how to use the cash register in just one click using your pocket-friendly mobile device you must also understand how it helps in managing the finances of your business.
This being a mobile app you can carry your mobile everywhere without worries of losing data when the shop is closed. Unlike physical books gets damaged or stolen, this Khatabook will help you take backup and store it for future references. Also, the app lock feature will prevent others from overlooking your business finances. It is user friendly and secure too.
No longer you need to worry about remembering all your customer pending transactions. Simply click on the name of the customer and you can see all details including the date you gave, the date they returned or due, etc. It is also possible to generate PDF reports and print them for any future references.
Cash register by Khatabook has done away with the delicacy of reminding customers face-to-face. It will allow you to send SMS reminders about their pending payments or further simplified by sending a link via Whatsapp.
Apart from sending reminders, you can also decide on the collection date to send repeated reminders. The reminder message will just not contain the due amount message but will also prompt the customer to make payment in one click. Many times people forget or do not have time to make payment and this feature will quickly allow them to release due payment in one click using their phone.
Thus, the cash register is a pocket-friendly effective book that can store multiple transactions of each customer. Further, one can store data of many customers at the same time. There are more than 11 languages in which the app communicates and hence it is suitable for any small business in both villages and towns. There is no more confusion about cash dealings which leads to misunderstanding between the business owner and the customer. Grow your business focusing on making business strategy parking finance responsibilities to the Khatabook app.