I don't track or record sales now. Earlier, I used to track my sales by writing them down in a register. I was able to maintain the register for 5-10 days, but I stopped doing it after that. Now, if five or more customers come to my shop and buy different types of products from me, it won't be possible for me to write everything down in a register.
Customers make completely online payment. I have no other payment methods other than cash and UPI. I don't have any sales register. In my shop, nothing is sold, only repairs are done. I buy everything from another place. I have to buy parts for different vehicles. I buy these parts daily and pay for them online. Customers pay online to me and I pay online for the parts. I don't keep any account to track my profits. I don't pay attention to that. I have an idea, it's around 1000 or 1500 which I earn. Everything is on my phone.
No, I don't keep any accounts of the payments made for vendors. I remember the purchases made only in my mind. To repair a vehicle, I have to remember how much I had to spend and how much I earned. I don't maintain any accounts.
I keep separate accounts for my home, shop, and personal expenses so that I can manage them effectively. If I earn Rs. 1000 per day, I allocate Rs. 300 for my shop and separate amounts for my personal and home expenses. This helps me maintain a clear financial record. The Rs. 300 includes the shop's rent and utilities, amounting to Rs. 9000 per month.
I mean if there is some app like this it will be easier for me. If every account can be maintained; whatever work I have done, parts I bought, what I spent and what I earn; complete account will be at one place.
I give the bills to customers. I have to file the account for GST. I have separate registers for sales and purchases. I can check the sales and stocks that came in a month. There are 2 registers for sales and stock.
I maintain sales records in a copy. No issues. The copy is not available now. My CA maintains accounts. He gets the bill, and he maintains accounts. No, I don't work with him monthly. I have a yearly contract with him. I file the return.
My memory has declined. I used to have a sharp memory before. After Corona, my memory has also become slower. Previously, I could even remember people's phone numbers. Now, I can't even remember a single number. I write down the brand names on a piece of paper and buy them when I go to the market. I don't have a separate notebook for that. I write them down and once I have them, I cross them off. I do it in a similar way to how it is done in a medical shop.
I don't have any billing software. I write by hand with carbon paper below. Yes, I need a computer. Everything will happen only if the business improves. If I have more customers, writing down the bills takes more time. I have to keep a computer if things go well.
Let's say I earned 1,000 or 2,000 today and spend it. I don't keep track of my accounts. So I handle my money day by day. Once today is over, I'll think about tomorrow, tomorrow. I don't write anything down or use any software.
Yes, I note down daily sales and the amount that I need to pay at the place where I purchase items. I buy items on credit from vendors. Yes, I need to maintain an account of payments with vendors. Otherwise, I would not get to know the transactions. Customer sales are noted on paper, whether it's the sale of a day. Then I make payment to the vendor. I have a single notebook for both.
Yes, we have regular customers. They are very nice customers. Till now, we have 40% regular customers, which we have calculated. We make Excel entries of our yearly estimated bill. For example, if your name is Priyanka Kesharwani or Priyanka Shrivastav or Priyanka Singh, this is your mobile number, you belong to Shanti puram, and you have taken furniture from me in 2021 and 2022. So, when I add the information of 2022 in Excel, the sheet will show me that you have taken a product on this date and this year. Therefore, I can know that you have taken 2 furniture items from me in 2020, 2021, and 2022. This helps me identify you as a regular customer, Priyanka ji. I see that 400 customers repeated their purchases next year among 1000 customers, which means they are our regular customers. We make the entry and provide gifts to our regular customers during festivals. We message them and invite them to come during Dhanteras and Deepawali. We give a 5% discount to our regular customers on pillow, mattress protector, and bedsheet. In Deepawali, my shop will be 3 years old, so I will see who those regular customers are who have done shopping from us in these 3 years. It might be a small chair or a big furniture item, and we will give them a 50% discount or a buy 1 get 1 free offer to increase our sales. If we motivate and give things to regular customers, they will also advertise for us. Instead of investing money on advertisements and keeping staff for advertisement, they will not go to every locality to do this. Allahabad has many localities like Taliyarganj Fafamoj, Shanti puram. I should catch the customers, give them a buy 1 get 1 free offer, and then they will feel that Vinayak furniture respects us. They will advertise this to 4 more people to purchase things from us. We are good. This is a concept to increase the business.
Yes, we prepare Excel sheets month-wise as well. We will also offer discounts to our monthly regular customers, so they feel that we are responsive to their purchases. Currently, we are not tracking monthly data, but we will start doing so. Currently, we only track yearly data. I have created a database for customer needs. For example, if a customer asks for a specific item that we don't have in our shop, I will note down their requirement and their mobile number on a daily basis. After fulfilling their needs, we will contact the customer. (showed the register) Here, I have written down the customer's requirement for a change in the revolving chair base. Initially, we used to sell chairs without the base, but now we have started selling the base as it is a customer need.
I give the bill of supply that we generate to the accountant, he makes it in the names.
We count the cash and also keep track of the sales and the revenue generated from them. We receive the message on the screen. The cash is deposited into my husband's account. Even if a customer makes a payment, we are notified. We check if the payment is successful. If the payment takes longer, we have to inquire if the money has been received. We take a screenshot of the payment and also capture a picture while asking the customer. We have information about the remaining customers, so we can gather details about them.
I don't give money at the starting level, at the initial level, but after some time I do. Everyone's PF is also deducted. We track salary and other things related to staff in Tally software. No, Tally has almost all the features I need. Like PF account, if someone is receiving any advance, everything is there. I have a CA. At the end of the year, the entire employee-wise entry is done. It is done by the CA. We don't calculate holidays properly because we keep them flexible. We try to be strict from our side, but we won't enforce it if they have a proper reason, like not feeling well or anything. Then there is no problem.
In Tally, there is an entry on a daily basis for payments and sales. I have just made a payment. Let's see one or two examples. This is my daily entry. Today is 21st September. There are two entries for today. This is my daily entry. This is the entry for 19th September. This is the entry for some sales. This is the entry for payment. This is Anand Electrical. For example, this is an entry for a quotation. I gave a quotation to the client on WhatsApp. He told me to collect everyone's quotations for a week. I will keep taking quotations on phone from time to time.
I have a CA. Yes, I talk to him monthly. And it is a little more during the audit period. My audit has been recently completed. Yes, it is done. So, during that time, there is some continuity. And the rest is done over the phone. Or if I need it, I go in person. The majority of the work is done online. WhatsApp is used for communication. I don't require much assistance.
How to determine if this is a loan is also in the system. For example, I will tell you about it. Let me give you an example. This is a letter from the Anurag Tiles party. I will open the ledger for this. These are bills from Anurag Tiles and he has made the payment. So, there is a feature in Tally, F5. If I press F5, then it shows how many days have passed for the bill on that particular day. Yes, it has been entered in it. Once the entire system is set up, Tally automatically provides all the data continuously. I check if the money has been received or not through net banking. So, my first task is to check the entry of the payment that was received yesterday. And on the same day, the same entry is in Tally. Once it is confirmed, then it is the same.
For the accounting system, if I come across anything like this, and if there is any additional new software or something that makes it easier, then I switch to that. But as of now, I don't have any problems with Tally. If there is any issue, Tally solves it for me. I have done training in Tally.
Yes, there is one Vyapar app that I use. It's for specific things where the customer doesn't want a bill or doesn't need it; it's just a simple inquiry or they just want to know the rate. I came to know about this while I was scrolling on my mobile phone, and I saw it. It was very easy, so I took a one-month trial. I liked it. I saw it in ads. I'm not sure whether it was on YouTube or Instagram.
When my father was in business, everything was done in writing and bills were not that common. The business was simple. For example, instead of using a hand-drawn picture, we now create it on the computer. We use Tally to generate instant bills, whereas before it used to take time to make a bill. It has become much easier now. Previously, we had to do data entry of the bills in the computer due to VAT (value added tax). But now, with these technological systems, everything has become faster. I don't have to do anything. I just have to look at it from here and we can upload it to the GST portal from here.
I have a few shopkeepers who buy products from me in bulk. I note them down in the laptop. So I have their record as well as customers’ record. So I keep checking that record also for customer analysis. The record about which product they bought and what not, so you won’t be able to understand all that.
My laptop has inventory that I manage and use for billing purposes. I have a printer connected to my laptop specifically for billing. I create bills for the items purchased by customers. This helps me keep track of the total sales made in a month and allows me to calculate our profit and loss. I use Tally software to manage this process. It provides information on our best-selling product and the remaining stock. Instead of checking the stock physically at the shop, I can view all the details on my computer. If the stock is low, I can easily place an order for more. It's important to note that customer data is not stored on my laptop. I have other ways to know about the customers. However, I primarily use this software for creating bills. When I create a manual bill, I need to calculate a 9% tax. But with the Tally software, it automatically calculates the tax for me. All I have to do is enter the customer's name, select the products, and the software will display the price. Then, I can simply print the bill.
I rarely create manual bills. If a customer buys something, I give them a manual bill instead of using a computer. Later, I adjust the bill accordingly by entering the information manually into my laptop. I keep a daybook where I record all the transactions. For example, if you came here and gave me 2000rs, I would write down that information in my book. In the evening, I transfer all the entries from my daybook to my laptop, whether they are credit or cash transactions. This is part of my daily activities. I use Tally Prime software to do all the entries on my laptop.
I extend credit to my customers because they wont be able provide with immediate payment. This is a long-term engagement. Electrical work cannot be completed in a single day. An electrician will not list all the requirements at once. They will write an estimate for 50000rs, purchase the necessary items, and then return for additional purchases. They will request that I continue to supply them with materials while they make payments. To keep track of these transactions, I maintain a ledger.
I recently started using the Vyapar App. Before that, I used to keep paper bills. One of my friends, is the head of Vyapar App. He recommended that I use the Vyapar App as it would make things easier for me. After trying it out recently, I really liked it and would recommend it to others. One of the great features is that I no longer need to search for bills to check the prices of items. They provide me with the rates directly. So, whenever I need to know the rate, I simply ask them. The app also helps me keep a record of my transactions, which has solved many of the problems I used to face. We started using this app about a week or two ago, and it has been a positive change for us. Previously, we used to do everything manually, including billing and receiving items directly in my name from the supermarket.
Yes, I have app to note down accounts in my mobile but I don’t use. I can keep my balance……accounts and all in it but I have not used it, if I do it then I will have to take down my balance stock. It will be time-consuming.
You can see the balance and everything here only. Yes, I check it through Google Pay, the balance and all.
Payments for an entire year, which are different for my shop, require a statement for us to order and use for calculations. We need to determine how much we paid to the parties involved. This is my personal account, and I have a separate account for the business. We can calculate the payments from here. We make cheque payments, so that provides us with all the necessary information. I also have a bank statement.
I keep a track of sales in a notebook. I write each and every transaction daily. For each transaction, I write it for myself. We need to know how many items I have given. If someone says you didn’t pay me, I show them the accounts. That's how I do it. We make transactions. I buy, I give, I will definitely write it down. I cannot calculate profit and loss in a month, one month is good, one month there is deficit.
They said an accountant is not necessary. If it is 40 lakhs or more then it is necessary. I asked the auditor. The auditor is a friend of mine. He will take care. He told me that if you do a rotation of 40 lakhs or more yearly we can do it. The movement is not much.
I have a computer to keep track of the customers. I use the software. This is by Okay Pharma. This is for the inventory. These are the sale details as well. No apps are not needed for this software. If there is any difficulty then I manage, because there are risks involved. I see it online. I call the software people in case of a problem. We have to call them and they tell us. I have purchased this. It is about 7000 rupees. Then they have yearly renewal charges for it.
I add customers' bills in the evening. Every day, I have to enter about 30 to 40 bills. No, I don't print the bills. During the OPD timings of the doctors, there are about 100 patients every day, which is the total from morning to evening. Currently, they have attended to about 70 patients, which means there will be another 60 in the evening. Some wait, and some don't. I give the bill to whoever wants it.
All the deals are dealt in cash. For the ones that are on credit, we make check payments. Yes, there is an inventory register maintained.
That dada’s friend is CA, he handles everything for me. From 7 to 11th date every month I contact CA. We have to file GST. I have to send details of both the shops, GST 1 and GST 2. Yes on WhatsApp I send it. From inside I have to take it on excel and once it taken on excel, I send it to CA through WhatsApp.
CA converses with me on phone. After every month’s 7th date, I start receiving his calls. See it is done like this, GST 3B, GST 1, 2. 11th is the last date of filling GST every month.
No, I don't maintain a formal register, but I jot down rough notes at home. It's just a casual record, nothing official. For example, I may note the number of sales I made in a day or month, such as selling 20 to 25 pieces, or the number of customers I served in a day. I usually write these details down when I have free time. Since I work alone, there's no one to remind me or hold me accountable for keeping records. I don't have a supervisor, so it doesn't matter if I write them down today or tomorrow. I keep the records at home because I rarely need them in my work setting. The only records I maintain are for maintenance purposes and I keep the bills as well. If I purchase something, I keep the bills to track my earnings and monitor what's happening.
Sometimes I make money and sometimes I lose money too, that's just how business works. I keep track of how much stuff I buy, how much I sell, and how much money I lose in this register. Yes, the register is at home. I write in it at night when I'm free, or I tell someone and they take care of it. I write everything down when I get back home and when I have free time, usually after nine. It takes about 30 to 60 minutes, it's not a big deal. My husband helps me with finances, even if he doesn't come here. I have his support.
Yes, I do keep track of the number of customers. Since we have a baby now, she can't come to the shop as often. My staff manages the shop 80% of the time. Therefore, there is CCTV in my shop. Sometimes, I check the sales figures using the CCTV. I don't have any issues, and I also review the sales figures every night. After my staff goes home, I check the sales figures and then close the shop. I have a notebook; there he keeps all calculation, so I check that.
I didn't do anything for this. If I have a good business then, I have one software that I have made on Excel. I have made this, and I am thinking that I would maintain it. I have made one software. It's like tracking my earnings and expenses. I have that calculation fully ready. I will maintain it for the shop purpose. The one that I use in the book, I would use this for that.
I instruct my employees to record daily sales and profits. They note down what they've sold and the associated profits. They send these records to me through WhatsApp, and I review them regularly.
Though Vyapar app we are billing and only in month end we consolidate it. My cousin advised this app and he also comes to firm and helps us too. We have recently started handling our accounting in-house. Previously, we had outsourced our accounting; in Chennai we have a firm and also a factory so we could not channelize it well, therefore, we made the decision to shift our accounting to this app. Billing is channelized well some time the staffs miss to update before and now we can track the billing.
Very frequently we talk to the accountant, every evening we discuss about the day's business. He checks daily expenses and check invoice; monthly we consolidate.
Our sales go up on Sundays, once a week. We do business on credit, and when we receive the money, the business goes well. The rest of the time, we keep waiting. In the morning, we have good sales from vegetables. Some people receive weekly wages, so they repay our credit and then purchase items. The business is good on that day. However, on the other days, the sales are very low. We receive back whatever loans we have given. They repay on Sundays. They keep buying things daily. We maintain accounts on a card. They give us money on Sundays or Saturday night. Then the next week, we start a fresh account.At least 25 of them take loans. Both of us maintain accounts. Some of them trust us, so we maintain their accounts. Some of them, whom we trust, ask to maintain their own accounts. The rest of them are people who pass by the shop.
We don't maintain any accounts for sales. Whatever comes and whatever items we sell, we just write down that only. We have not done any consolidation. We have not recorded our earnings. We simply sell and buy items. If we have a good sale, we can record our income and expenses. We deposit money in the bank and keep a check of our bank account. When we receive items, we give them a cheque, so we know how much money we are paying.
I have accounts from about 15 to 20 years ago. However, I no longer record the sales. If we sell 4 sets, we will know how much we have earned and what our profit is. We will find out about the income and expenses on the same day. We write it down in a notebook. We record the purchases we have made, loans taken, profits earned, and expenditures. I have not been using a computer for billing. They ask us for a bill, but I tell them that we don't have bills. If they insist on a bill, we write it on paper and put a seal on it. A computer is required, but I did not complete my education.
We write down the sales happening in a day. Daily I check the accounts before closing the shop. I will write the accounts, the income, expenses, everything.