There are over 42 million small businesses in India which employ a whopping 40% of India’s workforce! What are small businesses, you ask? Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and lesser annual revenue than a regular-sized business or corporation. They can range from an advertising agency to even an online tutor!
Small businesses are a major foundation of the economy and have a personal touch to their products/services with their customers’ best intentions at heart!
They are creative with their products and strive not only for profits but for the goodwill of their customers as well. Managing finances is one of the many problems that small businesses face and that often is the reason behind their failure but goDutch won’t let that happen!
Here are some ways you can optimise your business using goDutch –
1. Daily Expenses
You are pumped to get started with the day but your employee tells you that your computer has crashed and now you have to call the repair guy. As your computer is getting fixed, it’s 11am and time for a hot cup of tea for everyone! You pay the bill for the computer and the tea but where do you account for it? These daily and miscellaneous expenses often go unnoticed and unaccounted for. It can burn a huge hole in the pocket and is a silent killer for the business. But goDutch is here to your rescue! Each employee can add the expense that they’ve tentatively paid for and then later settle it with HR and get reimbursements via UPI! From travel expenses to cost of raw materials, one can simply check the created group to see the purchase history in the click of a button!
Also, when the payments get haphazard with different employees paying during an all-hands-on-deck situation for work or even breaks and lunches, the ‘Simplify Balances’ feature will easily help sort the tally for the final countdown.
Hence, the app handles the little bumps in the road so that your overall journey is a smooth ride.
2. Dealing With Debtors
Dealing with debtors is a nightmare! You give them discounts, concessions or even an extended credit period, yet they never seem to settle their bills on time. You call to remind them about their unpaid bills only to hear excuses. Your money is stuck with them and you may even run out of cash sometimes. Now, no one wants to face this kind of situation, right? It’s a wake up call for you to get matters into your hands!
Thanks to goDutch, you can now easily create a group, add an expense on their contact number, chat with them and most importantly, skip the awkward reminders on call and let goDutch send them a reminder via SMS. You can always refer to the previous groups to keep track and refer to the history of each expense and its purpose.
Why work hard? When you can work smart!
3. Figuring Rent
With goDutch, you can easily keep track of all your expenses from snacks to furniture to raw materials and even rent! Employees who’ve moved cities and are trying to figure rent with roommates, needn’t worry. The goDutch app helps put your rent on autopilot! Each flatmate pays their rent via their respective payment method and the app pools it together and directly transfers it to the landlord every month!
An app that truly brings balance in not only your work but also your life. Best part – it’s free!
4. Logging Previous Payments
As an owner/employee of a small business, you play multiple roles of a delivery man, marketer, accountant and often have to help people for the smooth functioning of your business. Between all this chaos, it’s difficult to keep things organised and it later becomes a huge problem. One such problem is organising your expenses and payments which you wrote down on the back of your diary on a busy afternoon and then forgot. With our ‘Import Balances’ feature, you can import outstanding balances with your vendors, employees and business partners.
Now, you don’t have to turn pages. Just scroll and be on a roll!
5. Miscellaneous Spendings
Being a business owner or working for one for that matter always keeps you on your toes but ek break toh banta hai! After a long and successful day, it’s now time to relax. Maybe you go out for drinks with colleagues or grab a meal together in the office canteen or order a fancy dinner!
We all want to savour these moments where we keep the work aside. But it ends up being an added task to calculate everyone’s share and then remind everyone to pay it back. Time to truly be on the go by conducting group expenses in real-time using the goDutch card. You and your peers simply have to link your respective payment methods, just one person uses the goDutch card and the amount will be deducted automatically from everyone’s accounts!
No more waiting to get your money back, split and pay on the fly!
goDutch has several other features like ‘Simplify Balances’ to de-clutter all of your bills and find the overall pending balance and along with that even discounts on Swiggy, Myntra and many other brands so that you can even save money while spending money! Moreover, if you refer a friend, you could get ‘Udhaari Credits’ which help you save money on future transactions.
So, what are you waiting for?