Are You A Small Merchant? Here’s Why You Need A Payment Tracker
If you are a small merchant, grocery store owner, medical shop owner or operating a kirana dukan, then you are probably familiar with how some customers keep a running credit with you. And you may have a similar arrangement with some of your suppliers, where you pay them after a month or two instead of at the time of delivery.
It’s great to have that kind of trust with your customers and vendors, but if you don’t keep track of your payments, you are likely to run into trouble later on.
The Importance Of Tracking Payments
It’s more than just keeping a check of who has paid and who hasn’t. Keeping track of your financial data, from customer payments to your payments to your vendors and suppliers, is crucial in maintaining and growing your business. Tracking financial data helps you process important data with regards to your revenue stream, status of bill payments and your future cash flow. It also gives you insights into customer preferences and needs, and helps you maintain a budget.
Payment Modes Have Evolved
Gone are the days when cash was the only acceptable form of payment. Today’s consumers are changing the way they make purchases, using a smartphone to browse and even complete the transaction without having to leave the screen.
The Indian economy is also changing, with many cashless modes being adopted – credit and debit cards (PoS), digital wallets (like PayTM), QR codes and UPI. It makes the process easier and enables consumers to buy products without having to carry cash around, especially for larger amounts.
But with money coming in from different modes – and most of it digitally – keeping tabs on how much is coming in can’t be left to an old-school pen and paper ledger. As a small business owner, you need a smart tool to keep track of payments as they happen.
Get Paytrac – Best Payment tracking app for business
If you are a small merchant struggling to stay on top of all your payments from various sources, then Paytrac might be the solution you need.
Paytrac is a merchant payment tracker that tracks incoming and outgoing payments from multiple modes, including PoS, UPI, wallets, QR codes and cash. Once you install the app, it automatically tracks payments and compiles it in an easy to read format. Cash transactions can be added manually, just key in your “cash in” and “cash-out” amounts and Paytrac will add it to your daily ledger.
You also have the option of switching on audio notifications, so you don’t miss any transactions in the middle of a busy day. Just turn on the notifications button and you will receive an alert every time an amount is credited to your account. You have the option to choose your preferred language, too!
Paytrac does more than just track payments – it also gives you data at a glance that enables you to see the bigger picture and how your business is faring. Get a 28-day report of your business, see daily, weekly and monthly credits and debits, and get an idea of which modes of payment are bringing in more money and which ones are less-preferred by your customers.
Paytrac is available in English, Hindi, and 7 regional languages, including Marathi, Kannada, Tamil, Telugu, Bengali, Punjabi, and Gujarati. So no matter where your business is, you can connect!
Paytrac also has a host of order management features that help you take your business online. Capture orders from WhatsApp, broadcast messages on multiple platforms like WhatsApp, Telegram, Facebook Messenger, and SMS, and connect with your customers via the chat/call option.
All these features in an app that is free for life, secure, and safe to use! (Paytrac never asks for your personal information.)
So what are you waiting for? Download Paytrac today and see how it makes your business more efficient!