How Digital Bahi Khatas are Helpful over Traditional Bahi Khata Registers?

Whether you are supposed to manage the bookkeeping services or draft the financial statements for SMEs and large-scale corporations, there is always a great level of risk present in the traditional registers. It is time people considered switching from the traditional registers to the OKcredit app for PC download. This digital accounting solution enables accountants to draft ledger, trial balance, cash flow statements, and profit & loss accounts in the easiest and fastest possible way.

The days when people would store the hard copies of accounts are long gone. The traditional registers can be lost, stolen, or misplaced. Most importantly, the risk of errors in traditional accounting is quite high. Moving the data from the traditional format to digital accounting is considered the safest way to retrieve important information whenever and however you want. It also helps you keep the data organised. Digital accounting has become a new standard in the business world. Not only has it proven an efficient option for large and established companies, but digital Bahi Khatas are quite effective for small-scale and medium-sized organisations. It has helped businesses and individuals record their financial data in the most organised and efficient way.

The main issue the SMEs face with the technology is that they believe it is complex. They rather rely on traditional accounting practices than following the financial accounting approach that has recently emerged. After all, traditional registers used for recording the journals, ledgers, and other financial statements have been there for over 900 years. Here are a few reasons why digital Bahi Khatas are considered a better alternative to traditional registers.

1. Streamlined Accounting Procedures

When you use the traditional Bahi Khatas, it gets really challenging to draft a report or retrieve any specific information about the financial transaction. Digital accounts provide you with a streamlined solution that stores the essential documents in a single centralised system. Now that everything is stored in one place, it gets easier for users to get access to real-time information. From monitoring transactions to handling the cash flow reports, it’s a whole lot easier to not only access but monitor the financial statements in simple clicks.

In manual accounting, you are supposed to record the information manually in the traditional Bahi Khata registers. Even if you have a professional and experienced accountant for the job, you will always have to face the risk of entering the wrong information. Drafting these reports might seem like a cakewalk, but drawing a summary and retrieving this information can turn out to be a time-consuming and hectic task. Besides that, organising these records is not easy with your traditional Bahi Khata registers. It might seem easy to draft the trial balance on paper, but it requires a lot of hard work and patience to get the balance right. Bahi Khata online, on the other hand, gives users an opportunity to access the financial records in simple clicks.

2. Access the Required Financial Information Easily

Interdependence is one of the crucial aspects of businesses. In companies where different departments are interlinked tend to outperform the organisations that lack cooperation and proper coordination. It is important for these companies to have a streamlined and smooth system that makes it possible for different departments of the company to access the financial information seamlessly.

It gets easier for the financial departments to make important business decisions in a hassle-free manner, given that they have the financial information readily available. The paper-based accounting solutions might cause unnecessary delays. Searching for information in your traditional Bahi Khata registers is not easy. Not only does it take time, but it is quite inconvenient for employers to scan different financial records to retrieve necessary information.

3. Generate Precise Reports and Real-time Data

Another reason why people have embraced the digital accounting transformation is that it helps users generate accurate reports. The shift from traditional solutions to digital accounting has made it possible for companies to view, analyse, and sort data seamlessly. Take the cash flow statement, for example.

If you use the traditional Bahi Khata register for generating the cash flow report, it is going to take you more than an hour to draft the report. That’s because you not only have to pass the entries in the register, but you have to retrieve the crucial data from financial records to get the balance right. Now, sorting through different financial books might take time. If you use digital records, on the other hand, it will be easier to gather the necessary financial information from one place and use it to generate accurate financial reports.

4. High Speed and Improved Productivity

The financial account software apps are comparatively easier to use than other software solutions. The main purpose of using the digital Bahi Khata apps, such as OkCredit, is to record the necessary financial information on a monthly and annual basis. It also enables employers to analyse this information and make informed business decisions.

This transformation results in improved efficiency and better productivity. Besides that, your company will have more staff to focus on other important aspects of the business, instead of compiling financial reports. This also makes it easier for your accountants to generate accurate financial reports efficiently.

5. Data Security

Data theft is not uncommon in the modern era. You might have an appropriate filing system in place, but what’s the guarantee your data will be safe? Anyone could rob the documents and steal your private information. Your accounting data that might be worth hundreds of thousands of dollars and your several years of hard work will be gone in no time. This reason is enough for people to shift to digital accounting solutions.

Digital accounting enables users to have a backup of their data and store these details in the cloud. What makes it better is the fact that you could easily retrieve data whenever you want.

6. Cost-effective

The best Bahi Khata app, such as OkCredit, does not only save you a considerable amount of time, but it has proven to be a cost-effective way of recording and storing your financial information. One of the reasons why businesses are switching to digital accounting is that it helps them save money and minimise expenses significantly.

If you follow the traditional accounting practices, you will end up spending more than what’s required on accountants. Even if you hire a professional accountant who executes the financial operations efficiently, chances are they will cost your company thousands of bucks in the long run. The digital Bahi Khata app does not come with a hefty price tag. It is simple to use and a cost-effective solution for businesses on the lookout for advanced accounting service for smoother management operations.

The only price you pay for the digital Bahi Khata solution is the cost of installation. As mentioned earlier, the software is easy to use, saving you the cost and time of hiring experts for the installation and training.

Conclusion

Now is the perfect time to embrace this change and check out the OKcredit app download for PC. This digital accounting app will help you go paperless. Download OKcredit for PC and boost your productivity levels.

Also Read:

1) How to Deal with Your Small Business Crisis During a Recession?
2) Data Privacy Laws: Their Impact on Small Business Operations
3) Retail and Wholesale Industry Overview
4) OkCredit: All you need to know about OkCredit & how it works.

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FAQs

Q. Can digital Bahi Khata apps help you retain customers?

Ans. By streamlining the financial accounting services, Bahi Khatas can help you retain customers. You will have more employees that can attend to your customers instead of scanning financial accounts.

Q. How can digital accounting transformation improve your business decisions?

Ans. With the robust accounting solution, it becomes possible for your accounting management team to make a strategic and advanced business decision by retrieving information quickly and seamlessly from the digital records.

Q. What are the other benefits of choosing digital Bahi Khatas over traditional registers?

Ans. Digital accounting apps promote innovation and creativity in the industry. These apps are designed to provide you with a high level of safety and comfort. They also promote speedier development of products and services.