Starting a small business is a cakewalk, however, establishing and remaining in the business is a challenge. The reason is competition, managing finances, staying at par with technology, satisfying customers, etc. Therefore small business owners might feel defeated if they are not able to grow their revenue. Understand how the Khatabook app benefits small businesses and then they stay assured of your business success.
History of Mobile Apps & How They Help Generations
The growth of technology is surpassing human expectation day by day. Millennials were the most benefitted people who started enjoying several benefits offered by technological advancement. The trend continued and the current generation is taking technology to the next level.
An application built in a mobile device is called a mobile app. In the year 1997, The Finnish Company “Nokia” was the first to launch a snake arcade game as a built-in feature of the Nokia 6110 phone. This was considered as the first mobile app. However, there is no actual history of the first mobile app. But the fact is several mobile apps are getting launched on a daily basis and the number is countless.
One statistic has recorded, as of July 2020, there are 2.8 million apps present in the play store of Google.
What is Khatabook App?
One such mobile app is the Khatabook app. It allows small business owners to manage their accounting books digitally. Yes, the manual accounting or the ledger book which is now available digitally on the mobile device is called the Khatabook app.
This app has replaced the traditional Udhar bahi khata by its new digital ledger book. Khatabook is an Indian app that is launched to help small business owners to record their daily financial transactions along with accepting payment online and keep their daily business accounting data up to date.
How Khatabook App Benefits Small Business Owners
Small businesses include running a paan shop, tea shop, mobile accessory shop, Kirana store, milk delivery, vegetable vendor, grocery store, barbershop, and much more. Every such business is required in both rural and urban areas. Indeed these are essential services. Also, it is a hoary practise that all these businesses must accept the udhar model as customers may not always have the cash to buy things. This does not mean running a business for charity but there needs to be an accounting system to record the pending payments from customers to collect it later.
This is where the app plays a role in managing the cash book online to help businesses serve customers and collect money.
- You can have any number of customers and still manage their credit and debit in fingertips. The app will help to store transaction details of all the customers personalized and will record every entry. There is no need to know accounting to start a business with this app. It will do all calculations for you.
- The records of each customer are stored individually along with the payment due date. Minute details like how much you gave and received are also recorded in the app.
- You can download account statements on a daily basis as a report in PDF which can be used for tax filing purposes. There is no need for an accountant or an auditor to file your taxes. Run the small business abiding by government rules and stay privileged for any loan benefits they offer.
- It will send reminders via SMS or Whatsapp to the customer preventing any embarrassment by demanding pending payment face to face.
- With this app, it is now easy to manage the accounts of more than one business you run. Concurrently carry out different businesses and still enjoy all the accountings in this one book which is pocket friendly.
- Not very technical and allows users to understand working easily. Hence customers also keep a track of their transactions. It is available in 11 regional languages enhancing the sales even with customers who are not having enough education to understand technology.
- There are more than 450 million smartphone users and it is a must for all small businesses to stay ahead of the competition. Thus using this app you can show your professionalism to your customers.
- Maintaining inventory becomes easy as the app will show the current status of customer transactions. Which items are in demand, or what kind of service your customers look for can be determined with the previous transaction details, and deciding on expanding business becomes possible.
- The business card attribute of this app is now making every business owner own a business card to brand themselves and their business. Simply create a business card using the app and share it with your customers. No separate branding is required when the app can do it for free.
- The filter by option will show the transaction details of a customer based on receivables, payables, or settled. Further, it can also be sorted as the most recent/oldest, highest/lowest amount, or by name.
- Last but the most important thing about this app is it allows customers to make payments via any BHIM UPI app. This makes life easy for customers.
When you look at all the benefits offered by the Khatabook app you will stop worrying about your business finances. It saves your time thinking about credit, debit, entry, balance, and payment. Simply focus on your business strategy leaving all financial calculation anxiety to the app.
Learn To Know How To Get The Khatabook App Link
Here you go:
Step 1: Open the play store (Android) or App Store (iOS device) and search the “Khatabook app.” You will find the app and click open to install it on your phone as shown in the image below.
Step 2: Alternatively, you can also reach https://khatabook.com/ and enter your phone number to get the app link.
You are all set to start using the app and manage your business finances.