Currently, India has roughly 700 million internet users across the country. However, despite the huge number, digital adaptation by small businesses is very less. While the big businesses are entirely dependent upon accounting software, those in the MSME sector still do their accounting on paper.
Most MSMEs are still unstructured and hire accountants for their daily entries. To be more organized, small businesses need to adopt modern and faster techniques of accounting. To this end, many mobile apps have been designed to make it easier for MSMEs to go digital in their bookkeeping. Digital accounting methods have numerous benefits such as: