Digital vs. Paper: The difference between paper and digital versions of bahi khata

After the pandemic, we have seen a huge surge in people going digital through various ways: ordering food, buying goods, education, and even adopting a bookkeeping management system. Back in the day, we may have witnessed our parents or grandparents using traditional bookkeeping methods to keep track of their financial spending or business expenditure.

But, today, the power of the internet has reached every corner of India, and people have started to learn how digitisation eases their life tremendously. Recently, the Finance Minister of India Smt Nirmala Sitharaman also presented the 2021-2022 union budget through the digital form of bahi khata. The Government Of India is also trying to promote a digital bahi khata amongst the peers.

Difference between paper and digital form of bahi khata

Definition Of Paper & Digital Form Of Bahi Khata

For any business to function smoothly and profit in the long run, it becomes necessary for them to keep track of their accounts timely. The paper form of bookkeeping is a traditional way of bookkeeping management, and it is still followed in many parts of our country. In simple words, the paper form of bahi khata means to pen down financial figures related to any business like expenditure, sales, etc.

On the other hand, the digital bahi khata means to do the same thing that people do in the paper form, but in digital bahi khata, the whole process gets carried on a digital platform rather than writing it on white paper. The concept of digital bahi khata has emerged greatly in our country after our Financial Minister’s budget presentation of 2021-2022 using digital bahi khata. One of the most widespread apps, i.e. OkCredit, has seen a huge surge in its user base from villages and towns in recent days.

Digital Vs. Paper Form Of Bahi Khata

Now. as we all know about the definition of both Paper & Digital bahi khata. We will next move onto the next part of knowing which method usually has more advantages than the other.

The old traditional way of bahi khata, i.e., accounting on paper, was started by the British in the early ’90s, and still, it is being followed in our country. But, as the financial literacy rate and the spread of the internet are gradually growing in our country, people are slowly adopting the digital bahi khata. The paper form of bahi khata has more disadvantages than its advantages like-

• One may lose the paper bahi khata
• It may get damaged due to external factors
• Lack of automation makes it difficult to maintain

The digital bahi khata, which can be accessed through apps like OkCredit, provides better bookkeeping management methods than the paper form of bahi khata. It has many advantages over the traditional bookkeeping method because people have widely adopted it in every corner of our country. The reason behind people preferring digital bahi khata more over the conventional method of bookkeeping are-

• It can be accessed from any remote place.
• Completely free of cost
• Automation helps to keep you notified time-to-time.
• No fear of losing data as it is backed up on cloud storage

How is OkCredit changing the traditional way of bookkeeping management?

OkCredit is an Indian mobile application that was launched to change the way of recording transactions, bookkeeping, and accounting. This app is fully optimised and compatible with any business starting from a small Kirana store in your locality to an industry with huge capital. There are a lot of advantages of mobile apps that cannot be matched by on-paper accounting. OkCredit has become the first choice for many businesses across the country for better bookkeeping management with over 10 million+ downloads on Google Play Store with a rating of 4.7. The reason behind these huge figures is all because of its countless advantages of mobile apps that help your business to run smoothly that too with no extra cost,

Advantages Of Apps for Business (OkCredit)

There are a lot of advantages of mobile apps for business which we will discuss below in detail-

1-  Time-to-time updates- One of the major benefits of mobile apps for users is that these apps go through various updates over time to help users get the latest features that will ultimately help them ease their way of doing business.

2- Simple & Clean User Interface- Apps like OkCredit have a very clean and simple user interface to make their users comfortable while using it. One will face no major problems accessing the features and implementing them on their business because of their easy user interface.

3- No fear of losing data- All the changes made on the app by the users are instantly backed up through cloud storage which can be accessed even if you lose your device. The only thing which you need to do in such cases is that you have to log in with your verified mobile number on a different device than Bingo! You will get back all of your records easily.

4- Safe & Secure - A very good point about the OkCredit app is that you can easily secure your account with a PIN or code. This way, your account will be safe, and the user will face no threat of data alteration.

5- These apps don't even cost a penny- OkCredit is completely free for their users to use them, and not even a single rupee is charged from them. This is the reason why these apps are seeing a huge surge in the Indian market.

6- Whatsapp & SMS Reminder- OkCredit also has a feature through which one can send reminders to their customers for any due payments. You can also opt to send regular reminders to your customers through SMS or WhatsApp.

Conclusion

Lastly, after seeing all the supporting factors associated with the digital bahi khata (OkCredit), we can say that it has all the features and characters that will not only help your business to function smoothly and keep records of profit or loss rather it will also help your business to grow in the long run.

By availing of the services of the OkCredit application you will not only get free access to a huge number of features to support your business, rather it has the potential to change the traditional way of record-keeping completely.

In this age of rapid digitisation, it becomes very important for us to adapt to the new technologies and use them in our day-to-day chores to ease it and make their functioning smooth.

Also Read:

1) How to Manage Your Hisaab-Kitaab & Bahi Khata Online?
2) How Digital Bahi Khatas are Helpful over Traditional Bahi Khata Registers?
3) OkCredit: Simple, Paperless & Secure solution for businesses
4) Using OkCredit App for Your Kirana Business

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FAQs

Q. Does OkCredit charge you for using the app?

Ans. No, it is a freely accessible application that one can download from the app store. After that, you will get access to a world of exciting features that will help you to maintain your business records.

Q. Will my data be secured in the app?

Ans. Yes, your data is valuable, and OkCredit has great attention on that segment. Your account can be secured with a code that only you will, and one can only log in to this app through OTP from a verified mobile number.

Q. How will I receive my payments from customers?

Ans. OkCredit app has a UPI feature integrated into its application that will stay connected to a third-party UPI payment application. This way, your money will be credited directly into your bank account.

Q. Are applications better than regular paper bookkeeping management systems?

Ans. Yes, applications like OkCredit are far better than regular bookkeeping methods. It has various features that you will usually miss in regular paper methods like WhatsApp reminders, data backup, receiving payments, and much more.

Q. Will my profit increase if I use the OkCredit App?

Ans. OkCredit doesn’t guarantee an increase in profit right after you start using the app. But, it will help you immensely maintain your business records and keep a check on your profit and loss.

Fun Fact- A clear knowledge about the expense and sales of your business will ultimately lead your business to gain profits in the long run.