The coronavirus pandemic has an impact on various business sectors. Starting from falling income, businesses closing to many people losing their jobs. However, there are also quite a few people who have chosen to do business during the pandemic. Indeed, there are several ideas for becoming an entrepreneur that you can try during the pandemic, such as freelancing, opening an online shop, and selling food or drinks.
Unfortunately, there are still many entrepreneurs or entrepreneurs, especially beginner business people, who forget about financial records, let alone accounting for the business they are involved in. In fact, this should be the SOP for all types of businesses. Starting from small businesses such as stalls, minimarkets, taverns, salons, building shops, even busy goldfish and grilled chicken restaurants, they need to record financial transactions. Even franchise businesses. It's just that the difference between non-franchise businesses and franchises is that they require integrated reports that allow you to easily see the financial movements of your business.
That's why in monitoring finances, what management usually needs is to also include a financial report dashboard that allows business owners to monitor everything that happens during sales. Starting from daily, weekly and monthly.
By recording financial transactions, your business visibility will look very detailed. The number of incoming and outgoing transactions is easy to monitor. Moreover, assisted by online bookkeeping from digital applications, MSME financial reports can also be automatically arranged neatly and clearly. There are many more benefits to recording business financial transactions. Let's look at it together.
Benefits of Recording Financial Transactions for Your Business
1. As business planning One of the important reasons and the need for online bookkeeping transaction records for MSMEs is because they can be used as a reference for future business. Usually in the form of a financial report from the business you are involved in. You can also find out all costs for the production process and business operations. Production process costs are all the costs you incur to get a product, not only materials, but also transportation, packaging, etc. So, if you can see all these component reports, in the future this can be used as a reference for monitoring ongoing business conditions. If MSME bookkeeping never exists, then you as a business actor will find it difficult to determine your next business plan. So it can be said that you can use a neatly arranged financial report as a way to make decisions about your next business strategy. If during this month the shop's sales are at a loss. You can determine targets to increase sales. 2. Knowing the Amount of Profits and Losses Another reason why it is important to record financial transactions for MSMEs is so that MSME players can know the amount and position of assets and capital. Apart from that, the amount of business debt will also be visible. So, all movements of capital, assets and debt can be monitored clearly. If your business does not record financial transactions, it will be difficult to know the amount of assets, capital and debt. Especially debt, something you need to pay attention to. If it is not recorded completely, it could have a fatal impact on the business being run. With transaction records, you can find out how much debt you have to pay. Even the debt maturity date can be clearly recorded. 4. Knowing the Number of Transactions As a business actor, of course you have an obligation to pay taxes. Now you don't need to worry anymore about calculating the amount of tax you have to pay. By recording MSME bookkeeping, the amount of tax that needs to be paid can be known and easy to calculate so that there are minimal errors in calculating sales tax. 6. As Information For Management Recording of MSME online bookkeeping transactions must be orderly and neat so that management can know about them. You can provide clear information to management or investors who provide business capital with these financial records. In this way, they can find out the extent of the capital provided and the profits they get. 7. As a Decision Making Tool Not only large businesses like state-owned enterprises, MSMEs also need to carry out evaluations taken from bookkeeping records. This is where transaction records function as an aid in decision making. Business people really rely on making business decisions from the results of financial reports for future business strategies. 8. Easy to Get Bank Loans Apart from the seven reasons mentioned above, there are other benefits to regularly recording MSME financial transactions. If your business has regular and clear bookkeeping, it will be easy for the bank to assess the business. When your business develops and you want to borrow capital from the bank, the financial report of your MSME or business will be seen by the bank. It's different when you don't have clear business bookkeeping. Maybe it will be difficult to get a loan from the bank because you cannot attach financial transactions to the business. So, the bank cannot assess ongoing business performance. So, do you still dare to ignore financial transaction records in your business? Those are some of the important roles of financial transaction records in a business. Unfortunately, there are still many business actors who ignore this. If there is, it may be a manual transaction record that he created. However, manual transaction records are less accurate and troublesome. So what's the solution? Doesn't automatic transaction records cost a lot of money? How can MSMEs reach it? As technology develops, you can take advantage of digital applications to help manage your business more effectively. By utilizing digital applications, you can find out financial transactions more quickly and accurately. Now you don't need to worry anymore! There is a Qasir application that can help and manage your business transactions. Suitable for sharing types of business, whether products/services ranging from stalls, stalls, restaurants, or whatever your type of business. Qasir is very practical and easy to use. Of course, this is a new solution for business people who want to develop their business. Qasir has various features that you can use, such as managing products, ordering goods and managing staff. The Qasir application is a digital service developed for business or enterprise management. The free version of the Qasir application can be used for transactions, product input and 1 month reports. Various features are available by using the Qasir application. The Transaction feature in the Qasir application can be used to carry out transactions for products/merchandise that you own. Through the Qasir application, the flow of income and expenditure of your business can be recorded clearly. Even transaction history can be monitored in real time. Interested in using the Qasir application? Come on, download the application here! Retail businesses such as mini markets, food stalls, wholesalers, pharmacies, and all businesses that have many variations and quantities of products sometimes don't really know the condition of their business because they are reluctant to keep records. Sometimes, this reluctance doesn't mean they don't want to, but that they don't have much time to input transaction records or the flow of products in and out one by one. In fact, another role of recording MSME financial transactions is as a tool to find out the amount of profits and losses.
If you only estimate profits from cash or the amount of payments coming in, it can be very tricky if not calculated very carefully. Maybe the money you have is only enough to cover operational costs.
If you record all transactions, even small ones, you will have a database which, when compiled, will show the amount of profits and losses incurred. Profit is the selling price of a product after deducting all operational costs to produce the product.
That's why entrepreneurs are required to create online bookkeeping or financial transactions to make it easier for them to find out business profit and loss transactions.
3. Knowing the Amount of Assets and Capital
Every business that is run certainly has transactions that need to be recorded. By having financial records, every business transaction will be visible in detail. You can monitor the number of incoming and outgoing transactions. Automatically, all transactions can be arranged neatly and clearly. If there is a difference at the end of the calculation, all you have to do is check the transaction records again, so that all financial flows can be monitored clearly.
5. Knowing the Tax Calculation Amount
If you don't have complete financial transactions, it will be difficult to inform and get investors for future business development. Your business may be suspected of not being transparent and even causing problems for your business because the flow of funds is hampered.
From the next report, you can even see whether your business strategy can still be implemented again in the future. Or has this strategy made the business grow further? If the strategy implemented at the beginning of your business doesn't make your business progress, you can find out immediately and replace it with a new strategy. Everything can be seen if your business bookkeeping is complete. Use Applications That Do Not Burden Operational Costs to Manage Your Business
Read about using the Transaction feature in the Qasir application.
Apart from that, there are also various additional premium features such as Additional Notes which allow you to make special notes for each order on your receipt and transaction history.
So, how do you access the Qasir application? It's easy, you just need to download the application and start making transactions! Perform the following steps to get the Qasir application:
1. Download the Qasir application here.
2. Register/register the shop
3. Enter the product and product description.
4. Start making transactions like a cash machine, then the transactions will be automatically recorded.
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