What is a Khata or Udhaar (accounting) Book?
A Udhaar or Khata book is a booklet that shop owners have been using to manage customer’s unpaid accounts. The term Udhaar means to rent. The Khata book also happens to store information about each customer and their respective loan amounts. The loan amounts are actually not physical cash, but actual food items, vegetables, and household items, an example would be a dozen eggs or a carton of milk. This Udhaar book is primarily used by all merchants and it allows them to offer you the goods in advance as they take note of each transaction for you to pay at a later agreed date or time.
What is Digital Udhaar or Khata?
Digitization has become the buzzword – with the advent of computers and the Internet, the term has become so common within the digital world. As smartphones and data are the roots of digital, it has allowed the upbringing of a digital khata.
As we all know digitization aims to make life easier by eliminating manual work and introducing automation – when we take a step back you can easily spot out why the need for a digital ledger app like udhaar is what you need, to help digitize your business.
With that said, our Udhaar app will easily allow you to handle your business information and transactions, as it all gets stored online rather than in a physical booklet.