The most complex tasks in managing a jewelry business are stock/inventory management and keeping track of daily transactions. Jewelry businesses require handling intricate aspects such as stock management, accounting, providing invoices to customers, managing multiple businesses, and overseeing employees. However, with the advantages of modern technology, running this business has become much easier than before. By using a good accounting software, you can manage your jewelry business entirely in a digital way.
In this blog, we will discuss from A to Z how an app can simplify managing your jewelry business.
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Why is accounting software essential for business management?
Accounting is an essential part of managing a jewelry business. Tracking daily transactions, stock updates, outstanding balances, and other financial data accurately is crucial. Doing these tasks manually is time-consuming and prone to errors. This is where accounting software or apps can simplify your work.
By using accounting software, you can easily track the financial status of your business, helping you make informed decisions. In Bangladesh, 'HishabPati' software is specifically designed for business management. A good accounting app can simplify the entire management process of your jewelry business. Let’s explore how this app can assist you in running your jewelry business efficiently.
Managing Your Jewelry Business with the HishabPati App
You can manage the accounts of a jewelry business using pen and paper. However, keeping all the data organized on paper or in a basic Excel file can be quite challenging. A significant portion of the day is spent on data entry in such cases. This is why accounting software is essential.
1. Jewelry Store Stock/Inventory Management
Stock management is an important aspect of the jewelry business. You have to handle jewelry with different designs, weights, and prices. In this business, there are various categories of jewelry. By using HishabPati app, you can easily track your stock, ensuring better organization and management.
- Real-time Update: The app will provide you with real-time stock updates. This means that whenever a piece of jewelry is sold or new jewelry is added, it will be updated immediately.
- Stock Alert: When the stock runs low, the app will alert you, allowing you to add new jewelry on time and avoid running out of stock.
- Category Wise Stock Management: You can manage different types of jewelry (such as gold, silver, diamonds, etc.) in separate categories.
- Stock/Inventory Report: You will receive monthly or annual stock or inventory reports, which you can analyze to track performance and identify trends.
2. Jewelry Store Cash Memo or Invoice Design
Providing professional invoices or cash memos to customers is essential in the jewelry business. Cash memos or invoices play a crucial role in this business. By using HishabPati app, you can easily create customized invoices for each transaction, ensuring clarity and professionalism in every sale.
- Automated Invoice Generation: An automated invoice will be generated for every sale, saving both time and effort.
- Customization Facility: You can customize the invoice by adding your store's logo, address, and detailed transaction information.
- Ready Template Feature: In HishabPati app, you can access ready templates and choose the one you prefer. Select the template that suits your needs to quickly create professional invoices or cash memos.
- Digital Sharing and Storage: All invoices will be stored digitally, making it easy to retrieve them later when needed. You can also share PDF or Word copies digitally whenever you want.
- The benefit of generating invoices in both Bengali and English.
3. Providing App Access to Multiple Employees for Large Businesses
Your jewelry business can grow, and you may have multiple employees working there. In that case, you can provide access to multiple employees in the app as salespeople or managers.
- Role-Based Access: In HishabPati, you can add users as managers or salespeople. You can grant different access levels to various employees based on their needs. For example, salespeople will only be able to view sales-related information, while managers will have access to additional, separate data.
4. Opportunity to Manage Multiple Businesses for Chain Jewelry Shops
If you have multiple jewelry shops, you can manage all of them together through a single app.
- Central Management: You can view the data of all shops in one place and manage them separately.
- Shop-wise Report: You can generate separate reports for each shop, which will help in making informed business decisions.
- Data Sync Feature: All business data will be synced in real-time and stored centrally on the server.
5. From Daily Transactions to Outstanding Balances, All in One App
Tracking outstanding balances in the jewelry business is a major challenge. With HishabPati app, you can easily manage outstanding balances and keep track of customer dues.
- Outstanding Balance Tracking: Each transaction has the option to specify whether it's cash or credit. This allows you to easily track how much is owed by each customer, as well as manage your own outstanding dues.
- Automated Reminder: You can send automated reminders to customers for outstanding payments, helping to ensure timely payment collection.
6. Ability to Generate Various Business Reports
Accurate reports are essential for making the right business decisions. With HishabPati app, you can generate various types of reports to help you manage your jewelry business efficiently.
- Sales Report: You can view daily, weekly, or monthly sales reports and identify which jewelry items are selling the most.
- Stock Report: You can check the stock levels of each product and know which items need to be restocked and which ones don't. This helps in managing inventory efficiently and ensuring you never run out of essential products.
- Profit and Loss Report: You can easily analyze the profit and loss of your business.
The use of modern technology in managing a jewelry business will keep you ahead of the competition. So, choose HishabPati app today and take your jewelry business to the next level!
Demo - View this & start your journey with HishabPati in three simple steps!
- Step 1: Sign up on HishabPati
First, visit the HishabPati website and create an account for your business. Alternatively, download hisabpati app from google play store and register. Registration in HishabPati is quite easy & complete free.
- Step 2: Set up your company
After signing up, first set up your business profile by providing the necessary information as the owner. Then, set up essential business aspects such as inventory, units, purchases and sales, outstanding balances, invoices, and transactions. After that, start updating daily transactions.
- Step 3: Enjoy the various features of HishabPati
After starting to keep business accounts on HishabPati, make use of the necessary and unique features, such as invoicing, barcode scanning, units, and expense management, among others.
Watch a demo video on YouTube in Bengali to understand the usage and features of HishabPati in detail.
Digital ledger for income and expenses – HishabPati demo.
HishabPati's subscription fee starts at just 99 Taka!
HishabPati is Bangladesh's easiest and most affordable accounting app. Its subscription fee is divided into monthly and annual terms, with three budget-friendly packages available.
- 01. Basic Package: The Basic package is completely free! This means you can try out the app without purchasing a subscription.
- 02. Premium Package: The monthly subscription fee for the premium package is just BDT.99. And there's a 17% discount on annual subscriptions! It will cost only 999 taka in a year!
- 03. Business Package: The monthly subscription fee for the Business package is just 199 Taka. Like the Premium package, the annual subscription also comes with a 17% discount, making the yearly cost only 1990 Taka.
Know about all features of packages today in details & choose your desired package. Good luck with your business!
