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Why do you need an Udhar Khata App?

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The need of a Ledger & Bookkeeping app

The set of records where all the transactions carried out by an economic entity in a given time are chronologically detailed is called "accounting accounts." An example would be the "cash" account of a company, where it records all the movements it makes in cash.

A credit account is an account that allows you to save the payment amount for your reservation.

The accounting books are "journals" using appropriate accounts (classification/name indicating the contents of transactions) according to the rules of corporate accounting for "all transactions" performed by companies (including sole proprietors). It is necessary to record in). The general ledger is a book that summarises the journals for each account.

General Ledger

Since the general ledger is a book that aggregates "all transactions" for each account, you can grasp the account's movement as long as you can make journal entries without fail.

This ledger record consists of the following:

  • Account name: refers to the specific name of the account. It is recommended that these names be as explicit as possible.
  • Code: it is the number that identifies it within the chart of accounts of the economic entity.
  • Debit: it is located on the left side of the account and is used to enter debits.

By adding your credit account to an udhar khata app, you can pay for goods and services with your phone as if you were swiping or inserting your card. This becomes your digital wallet, providing everything you need to shop in one place.

Benefits Of General Ledger in Udhar Khata App

  • Provides a single document grouping together all financial transactions for a given period
  • Essential for analysing the financial health of a business
  • Allows you to see the details of all financial transactions
  • Useful for easily detecting transaction entry errors
  • Help establish the trial balance
  • Help to establish financial statements: balance sheet, income statements, etc.
  • Facilitates tax reporting

Accounting journals, including the general ledger, have been used for centuries as they are essential to financial management and businesses' success, large and small.

1. Safe Way To Pay

The ledger app allows you to use your cell phone to make purchases in the store. An udhar khata app uses a technology called Near-Field Communication (NFC), so you can touch or move your phone to pay at the point-of-sale (POS) terminal.

2. Sort your life right in the app!

  • Credit - Your digital account has a credit card without annuity or hassle.
  • Duty-free - You pay nothing for transfers, deposit slips, and other in-app services.

3. The Right Digital Account To Take Good Care Of Your Money

The Ledger app's new payment capabilities go far beyond those provided by the credit card, and it can completely change the shopping experience.

As statistics show, users are increasingly feeling more comfortable centralising their affairs on the same device.

The Udhar khata app allows you to carry all your cards integrated into a single system, thus processing several payment options that are more convenient for the user.

Smart mobile terminals can substantially improve the interaction between sellers and buyers, going beyond mere payment and improving the relationship and customer support through social networks.

Almost all large companies such as Google, Apple, or Ericsson already include solutions of this type, which indicates that they will be available to everyone very shortly.

4. Controlling Accounts And Invoices

The Udhar khata app allows functions such as creating budgets, controlling accounts and invoices, and even generating future forecasts. It carries out registration of expenses and income, balance adjustment, transfers between accounts and serves to program our fixed expenses such as mortgages, loans, etc. Plus, it monitors budgets and will let you know before things go wrong. It is one of the best applications to keep our personal accounting, although it is designed for advanced users.

5. Household Finances

The ledger app is perfect for keeping control of your household finances. In addition to adding all the data about your expenses and income, it allows you to customize global and detailed graphs to help you get an idea of ​​where you spend your salary. Includes calculator, calendar, and notepad, and data can be exported to PDF.

6. Sync Information

Udhar khata app allows meticulous control of personal accounts. Since you can schedule frequent transactions, sync information with multiple devices, schedule late transactions and settle later. It has been reported with pie and bar charts that show the structure of your income and expenses.

7. Control Small Cash Expenses

People often use the ledger app to control small cash expenses (entry and exit) from day to day. At each moment, it indicates what is in cash in the portfolio. You can review your cash expenses at any time and see when and what you spent it on. This Udhar khata App is a handy way to control the daily drip of money.

8. Receive Personalised Alerts

Udhar khata app also records the movements of accounts and cards broken down by theme so you can see where your money is going and balance the balance available in cash or in the accounts. It also shows the information through graphs to see and understand more easily where the resources are spent. You will receive personalised alerts on commissions, overdrafts, income, etc. is free.

Also, the Ledger app automatically analyses expenses and income and even advises the user about their financial possibilities through statistics and graphs. You will be able to know the evolution during the week, the month, etc.

9. Establish A Budget

With the Udhar khata app, you can know at the moment the amount of money you spend and for what. One of its most striking options is that it allows you to establish a budget to remember not to spend more than the account and see what money you have available.

10. Analyse all your finances

Udhar khata app allows you to see what you are worth and help you improve your liquidity stability. With it, you can divide transactions into various categories, transfer them between multiple accounts, and schedule them to repeat on pre-established dates. It allows you to analyse all your finances using various reports at your disposal as graphs that can help you visualise where you should reduce expenses.

Remember that using the Ledger app is simple, but their success lies in the user's habit of registering at the right time and for the exact amount. So it is required that you be constant and organised; Thus, the control, management, and visualisation of your finances will be simple, real, and comfortable and will be just one click from your smartphone.

Udhar khata app allows you to quickly and securely manage your finances with your smartphone or tablet, anytime, anywhere.

  • Pay bills and transfer funds between institutions
  • Send funds to anyone, regardless of the bank they work with, thanks to Pay a Person.
  • Apply for credit cards and other loans
  • Dispute transactions and configure travel notifications
  • Manage your contact information and request and receive documents
  • Set budgets and savings goals
  • Set up "push" notifications (alerts) on your smartphone for your account balance and other alerts

11. Is a personal finance app essential?

Organising personal finances is not an easy task; many times, we forget pending payments, and we do not know how much we spend per month. Although that may be seen as a minor thing, it becomes a bad habit that affects your credit history in the long run.

That is why it is important to consider which is the best personal finance app on the market. Remember that if you are just thinking about opening a business, having excellent management of your personal finances will be essential to avoid making basic mistakes.

Also read:

1) 10 Best Ways to Promote Your Small Business
2) How Many Social Media Sites Can I Promote My Online Business On?
3) 8 Online Business Ideas That Could Make You Hit Gold in 2020
4) OkCredit: Simple, Paperless & Secure solution for businesses
5) OkCredit: All you need to know about OkCredit & how it works