An Indian digital ledger mobile app called “Khata Book” was founded by four graduates of IIT-Bombay in January 2019. It is frequently used in small-scale businesses, shops, and informal sectors across India. For shopkeepers, managing and maintaining the customers’ transactions in the book is tough. All such transaction data is lost once the book gets damaged or lost.

However, this Khata Book app maintains all customers’ digital transaction data. This app sends messages or Whatsapp messages about due payments to customers. So, it is commonly used in stores to buy goods and pay money later. Using the Unified Payments Interface (UPI) and QR Codes, Khatabook creates reports, reminds creators, and enables online payment.

When a transaction happens, this app sends messages or WhatsApp notifications about the money being due or the money being collected. Let us discuss the cost, features, business model, funding, and more in this blog.

Why the Khata Book app?

Khatabook’s success has been attributed largely to its scalable technology platform, simplicity, and language inclusivity. Khata Book provides several tools that simplify inventory management, accounting, and billing. Customers can create, and track sales, buy history, configure fields, generate sales, and purchase invoices.

Khata Book is safe and secure for businesses to retain their users’ accounts. This app is very helpful for small businesses that need to collect the price of goods on a credit basis. Because entrepreneurs can send messages about the credit amount to the customer as a remainder. Your business can be accessed anytime and anywhere.

As this app has more advantages, it succeeds in its domain. And it has obtained a very huge amount of transactions from the global community. This app is available on both iOS and Android.

Features of the KhataBook app:

Login and signup:
- The merchant should create an account in this app with an email ID or mobile number..
Add business:
- Merchants add their business details, such as their name, location, and logo, to the mobile app.
Add customer:
- Merchants can add their customer details like their name, address, profile picture, etc. They can also add each account for each customer with their complete payment history with a date. This app allows merchants to enter the transaction details with an attachment of relevant documents as images. The calculator is integrated into it.
Request money:
- This app reminds the customer about the spending of money which makes the business hassle-free. The integrated online payment facility in the app smoothens the collection of payments.
Payment history:
- This feature in the app has the complete details of transactions that have taken place. They can filter results based on time, date, and other factors.
QR code:
- Scanning QR codes helps to improve the mode of payment.
Business cards:
- Customers remember and contact you when needed with this business card. This card contains the details of your business name, your name, shop address, mobile number, contact details, etc. Merchants can share their business cards with customers through messages, email, and social media.
Settings:
- Settings help customers to manage their account details smoothly. Other options in settings are language, pin-lock, backup information, etc.

Cost of the Khatabook mobile app:

There is more demand for this Khatabook mobile app, as it offers advancement. The cost of this app depends on various factors.

Platforms:
- The operating system for which the app is built is the very first cost-deciding factor. Both iOS and Android have the largest market share, though there are a lot of platforms available. Before you have to decide on the platform in which you build the app, remember that the cost of developing an app with Android is more expensive than iOS.

Features:
- The main part of developing the app is features. The cost of the app is higher when you include more or different kinds of features. So, features play a vital role in deciding the app development cost.
Design:
- The cost is higher when you choose an attractive design. However, users don’t like the complex design of the app. So, you can go with a responsive and good-looking design.
MVP(Minimum Viable Product) or Full-fledged app:
- This decision depends on your demands and requirements. But the cost of the MVP is less than the Full-fledged app. If you want advanced features and your budget is high, you will go with a full-fledged app in which you can include engaged UI/UX design, attractive animation, and other features that make the user engage with your app.
- The other factors are the app size which decides the app development, location of the app, technology used in the app, app employment, app enhancement, and app maintenance. Depending on the demands, and requirements, the cost may vary.

Business Model of Khata Book app:

It is a very simple business model. A merchant can register their business with their email ID or mobile number. They can include their customer’s name, and details like contact number, address, and payment. These payment details are categorized into two parts. One is the payment that a customer owes the business and the second is the payment that needs to be returned to the customer or the customer who paid the advance the money.

The information and account details of every customer are integrated with the app. So, with the backup information, the system makes an update. Because of its simplicity, this app is popular among the users.

Users or shopkeepers can text messages or reminders about the pending payment from this app. The users can make their payment through the payment link in the message that has been sent by the shopkeeper. They receive their payments through UPI which is supported by Khatabook. This simple app makes the customer-shopkeeper relationship healthier and helps with faster payment.

Facts about the Khata Book app:

Availability:
- This app has more than 50 million downloads and it is available in 13 Indian languages.
Awards:
- Khata Book was the winner of the Emerge50 Awards 2020. and it won the best innovative mobile app award at IAMAI 2020.

Benefits:

This app prioritizes the security and reliability of the user’s financial data and related transactions. It keeps users active and loyal by using gamification, videos, and quizzes. It motivates the user to share their business tips and advice with others in the business community.
As most of the functions of the app are available offline, businesses use this app in remote areas without reliable network access.
The app synchronizes the data across the devices and the Khatabook network, once connected to the network.
Users can use multiple payment methods like scanning QR codes, and payment links sent by the merchant. It will ease the payment process of the user to the merchant.
Once payment has been made, the Khatabook ledger is updated automatically.
Accounting features like GST reports and easy-to-make bills are there in this app.
This app sends reminders about the pending payment to the customers via messages periodically.
This app generates the reports.
Overall, this Khatabook app simplifies business and empowers merchants.

How Khatabook app is helpful for smaller businesses?

Save your golden time:
- As this app automates the process of generating reports & invoices, and tracking expenses, it is the best advantage for small businesses. So, the small business owner can save his/his time and focus on other important tasks. As it reduces the manual input for entrepreneurs and small businesses, it is an expensive gift for them.
Financial data organization is easy:
- This app helps the business to keep the financial record systematically. So, it is easy to take the particular data about business details for the owners. From the generated reports and summaries of the app, the owner makes decisions about their business. So, the business runs very efficiently and smoothly.
No possibility of errors:
- There are no errors in this Khatabook app’s financial records as in manual records. As the user-friendly design of this app helps the owners to enter the information accurately and prevents double entry errors, it ensures the accuracy of this app. These up-to-date and accurate financial records allow business owners to save their money and time for a long time.
Enhance the cash flow management:
- Business owners can understand the financial situation and make informed decisions, with the help of the Khata Book app which tracks expenses and income in real-time. So, they find the cost-reducing areas and optimize cash flow, set up payment plans and budgeting goals to manage finances efficiently. Overall, businesses can understand their financial health and take steps to improve in the necessary areas to remain successful for a long time.
Improved security:
- The inbuilt features of this app protect the financial records from unauthorized access, to ensure and enhance the security. The additional parts of security for financial records are security measures and encryption. The other additional features like Audit trails and access control keep the financial data safe and secure from malicious activities.

Revenue model of the Khata Book app:

The revenue model is for generating income by businesses. It is a model of how businesses can make money from their products or services, by charging a flat fee per product sold. Multiple revenue streams like advertising, subscription fees, and upsells are involved in this complex model. This is very helpful to keep business sustainable and profitable.

Concept of revenue model:

Though there are various kinds of revenue models that businesses can use, the opt revenue model depends on the nature of its products and services, its goal, and its target market.

Types of revenue models:

Here are some types of revenue models,

Selling products or services directly to the users:
- In this traditional revenue model, the company produces the product and sells it to the customers directly.
Selling through intermediates or distributors:
- In this model, the company sells its product to the intermediaries who sell them to the end customers. It is helpful to reach your products to wider customers and increase sales.
Advertising:
- A company is selling the space of its own website or platform and making revenue. This is commonly used in online businesses, social media, and media companies.
Subscription-based model:
- A company charges a regular fee for access to its products or services on a monthly or annual basis. Media companies, software companies, and service-based businesses are using this revenue model.
Freemium model:
- In this model, the company provides basic products or services for free, and charges for additional services and premium features. This is mainly used by online service providers and software companies.

Benefits of the revenue model:

Businesses can understand the status of their selling products and focus on their development.
Financial goals help businesses to set the goal and focus on what to do to achieve those goal.
They can focus on the resources to improve the revenue.
It will attract more investors, as you have a clear understanding of generating revenue.

Conclusion:

This organized, errorless, time-saving, and secured Khata Book app is a valuable asset for small businesses and entrepreneurs. So, they manage their business records safely, and effectively by using this app. If you want to develop an app like Khatabook with more features and excellent functionality, contact us.