Big business owners may have deeper pockets to invest in a digital khata but running a business is very challenging for small business owners. One such challenge is keeping a khata book diary manually. The traditional ways of maintaining manual diary khata are risky in many ways. The digitization of the khata book diary is easy and fast.
Whether it is the daily expense khata or daily sale khata, business owners can organize their data in a more efficient manner. The risk of losing manual registers or the risk of miscalculations can be fatal for any business. Digital accounting is the safest and most efficient solution for small-scale and medium-sized businesses.
Technology scares most small-scale and medium-sized businesses. It is because of the lack of exposure that they find it difficult to switch to technology-driven solutions. But with digital accounting, they can save a lot of time and money. Here are a few reasons why they should turn their business digital.
- Simple to use
One doesn’t need to be an accounting expert to use this application. It is simple to use, just like making an entry in a physical khata book udhar. You can store all your transactions in the digital app with a simple click.
- Easy to manage
The information entered in the app can be synced with all your devices. The ability to not only watch the financial statements but also monitor them is much simpler with just a few clicks. You can also send automated reminders to your debtors from your udhar khata and keep your follow-up tight.
Retrieving information is less time-consuming and easy. You can access your business information anywhere and anytime. All you have to do is download the digital khata app and access it on your smartphone or your laptop. Especially in the case of companies that have different departments looking after expense khata, sale record, or udhar khata it is easier to give access to relevant reports and keep the running of the business smooth.
Digital accounting comes with system-generated reports. These reports are generated in the system based on the transactions entered in the app. They are reliable and easy to generate. Generate reports like P&L statements or simple ledger. You can check your net worth or improve your liquidity by studying the reports.
Making an entry for the transactions done during the day is a task that took a lot of time earlier. But gone are the days. In few clicks, you can save and store data. Later with equal ease, you can pull out reports for analysis and budgeting. You do not have to pull out different registers to check the khata book diary, you can simply log on to your digital khata and get all the information you need in just a few clicks.
Managing manual records for diary khata is costly as well. You have to keep a dedicated employee to enter details and lots of space to store it safely. Also generating reports using those manual expense khata and sale khata is a challenge. No one expects a business owner to be able to master accounting. Therefore many are paying money to the CAs for making simple ledger or P&L statements. Even for tax filling, they are dependent on CAs. Digital accounting will help you save a lot of money on all of the above.
The data is digitally stored, therefore you do not have to worry about data getting lost or damaged. You do not have to worry about where to store the data and how to stack it so that it can be pulled out later.
While digital accounting takes away most of the stress of manually keeping diary khata it gives you more time and money to invest in growing your business. Once you start embracing technology, you will come to know that there are companies like Digichal that also help you create online footprints. You can then think of expanding your business outside your locality or city.
Any small business whether it is a local mom-and-pop shop or the daily vegetable vendor; all of them maintains an udhar khata. These are all essential services and they all transact often in cash. Digichal app allows them to get the benefit of the technology advancement. It helps these small business owners to record their daily sale khata digitally, free of cost. With the ease of managing the financial transactions, they can serve more customers and grow their business.