Khatabook is an accounting app which helps businesses record transactions and prompt customers to pay by notifying them of their outstanding bill. Being the world’s fastest-growing SaaS company, it has received substantial investment by big players. It also helps maintain records for every customer. Khatabook comes in 11 languages and thus serves a wide usage. Multiple Khatabook account can be created on the app. For instance, if you run two different business you can create two Khatabook on the app. Khatabook also accepts UPI Payment. Whenever a transaction is made or payment is received, it informs both parties to ensure transparency. Users can create a personalized business card through the app itself, an exciting feature for small business owners.
As we discuss in more detail below (under Khatabook download), the software is only developed as an app for iOS and Android. On PC, it is available as a web version. This means that in order to use it you must login to the Khatabook website.
Khatabook was founded in October, 2018 by IIT Bombay Graduates: Ravish Naresh, Jaideep Poonia, Ashish Sonone and Dhanesh Kumar. Khatabook is based out of Bengaluru, Karnataka. The idea for the application was conceived when one of the founders saw his dad struggling with maintaining the business records. Connecting the dots, the app was launched to help combat the hassle of account management and credit repayment. Hope this also answers your question, “Is Khatabook Indian?”
Quite interestingly, it was funded by Sequoia & Y-Combinator itself! If you haven’t heard these names, let us explain. Sequoia Capital is one of the world’s largest Venture Capitalist firm. The companies comprising its investment portfolio exceed $1.7 trillion in valuation! It invests in startups across the world. It has also invested in Indian startups like 1mg, BankBazaar, BYJU's, Cafe Coffee Day, CarDekho, CRED, ixigo, Ola, and more. Y-Combinator on the other hand, is an incubator launched in the year by the co-founder of PayPal, Paul Graham. He has been an active investor in Silicon Valley & Y-Combinator. The latter has actively collaborated with the best universities in the world such as Stanford University, a fact that will reassure you of its standard. You might now fully understand that Khatabook is not any startup. It is truly distinctive in many regards. Apart from Sequoia and Y-Combinator, its investors include Tencent, Hummingbird, B Capital Group, rocketship.vc and Falcon Edge Capital.
The list of Angel Investors of Khatabook includes notable personalities such as: Mahendra Singh Dhoni, Kunal Bahl, Aditya Agarwal, Kunal Shah and Kevin Weil to name a few.
Khatabook has received widespread acclaim. This is primarily to its ease of usage and simple interface. It can be used by anyone regardless if they have any technical or finance knowledge. It has an average rating of 4.4 and 4.5 respectively on iOS and Android respectively; a vague testimony proving its trustworthiness to say the least.
Khatabook is only available for Android & iOS as of now. Khatabook for PC may be on the charts but nothing adamant has been declared by the company till now. This is an interesting case where the app is available on phone and not on computer. The rationale behind this could be that almost everyone has a phone nowadays but not everyone has a computer. This is also odd because all other Khatabook’s major competitors in accounting and bookkeeping like Tally have a PC downloadable software version while Khatabook is web based.
Another reason is the relative simplicity that accompanies the app. While Tally is a full fledged accounting software, Khatabook isn’t as much of one. Partly due to the fact that not every business needs to get involved with the accounting complexities of financial statements, ratio and cashflow analysis.
Khatabook is a very effective accounting tool. Built by IIT engineers, you can be assured of its technical viability and commercial usefulness. It serves to digitalize ledgers or in other words physical accounting books. Handheld accounting based on textbooks was never really Post installation & registration, Add customer and phone number to Khatabook, Add the transaction undertaken by them. If you think a transaction is wrongly recorded or you no longer feel the need to keep it recorded, you can easily delete a transaction.
The reasons favoring its use are:
Khatabook is helping Small Business Owners and also Medium Enterprises by, As Khatabook states, more than 1 crore businesses in India are using it across 10000+ cities or towns. Also, the money value of the transactions recorded exceeds Rs. 5 Lakh crore which is very impressive. This is why we suggest that you should use Khatabook.
Khatabook is also helping the unorganized sectors in the economy such as retail among others gain some organization and formal structure. This is helping both the economy as a whole and the small players in the sector. Moreover, the app is very dynamic allowing it to be adopted by kirana stores and other vendors across all niches of the market such as pharmacies, bakeries, Paan dukaan, chai tapri, jewelry shops, electronics shops and more.
People from non-finance or commerce educational background, face a hard time in managing the finances of their business. With Khatabook, they are able to streamline it and automate it to an extent that requires a little more than their physical effort and little to no logical reasoning. No need to find corresponding bills or entries.
Khatabook’s LinkedIn states that MSMEs that started using the software were able to recover billions of credit. Precisely speaking, Khatabook has recovered greater than Rs.5 billion in only a period of six months. Another fascinating fact about Khatabook is that it significantly reduced the time taken to obtain cash receivables.
Yes, you read that right! Use Khatabook for keeping track of your personal expenses. Not only your private expenses but also your household expenses. Gather all your outstanding maid payment, milk payment, rent advance or rent due all here. Though this may seem a puny issue, household accounting and expense tracking is no less a chore.
Khatabook is an immensely powerful tool for small businesses. However, it is limited to the extent of accounting for receivables. Khatabook does not help with inventory management or CRM. For these purposes, the parent company of Khatabook ADJ Utility Apps Pvt. Ltd. plans on releasing more softwares for Bharat to complement Khatabook and furthermore, contribute to the technological advancement of businesses.