The importance of getting an overview of your business’s financial health can never be overstated.

 

While there’s no denying that a current account is essential for your business, Open’s Business Account does way more by simplifying your business finances.

In fact, the Open Business Account is the ONLY account that brings your banking & business finances together. That’s right! This account combines banking, payments, accounting, expense management & payroll in ONE place. Here are some exceptional perks of using this account:

 

  • The Open Business Account is a virtual account that can be opened in minutes. Just sign up & complete your KYC to get started. No lengthy documentation required to open this account.

 

  • With this account, you can collect payments from your customers via a range of modes like NEFT, IMPS, RTGS, debit/credit card, or even UPI.

 

  • Make instant bulk payouts to vendors & employees with a simple excel file upload. No more waiting for adding beneficiaries.

 

  • You can create & send branded GST compliant invoices with in-built payment links to your customers. This way they can pay you faster. 

 

  • Simplify expense filing & reimbursements with Open’s expense cards. Assign expense cards to employees who step out of the office & make card swipes. When the card is swiped, your teammate will receive a Whatsapp message where he/she can upload the receipt & the expense will be filed, just like that. 

 

  • Manage, control & track your online subscriptions with Open’s virtual cards. Assign virtual cards to different teams (Sales, HR, Marketing, etc) or even one for each tool you use (Google Ads, AWS & Linkedin subscription, etc). Set limits & never go over budget. 

 

  • Automate salary processing with 100% error-free salary payouts. Auto-calculate TDS deductions & make timely TDS payments directly from Open.

 

  • Generate GST challans & make instant GST payments on Open. Get automatic status updates & view all your filed returns in one place.

 

  • The best part? You can auto-reconcile every single transaction on Open, just like that. From bookkeeping to invoicing to automated payment reconciliation, Open helps you save tons of precious hours & focus on growing your business.

 

  • Most importantly, the Open Business Account helps you get an overview of your business’s financial health — on a daily basis. This empowers you to make well-informed financial decisions for your business.

 

The Open Business Account is certainly a time-saver for business owners who juggle between multiple tasks day in & out. But a few things to keep in mind here are that you cannot issue cheques or generate bank statements using the Open Business Account. Also, since this is a virtual account, you cannot do offline branch transactions, unlike your regular bank account.

 

And there you go!

 

Now that you have a fair idea of how the Open Business Account benefits small businesses, go ahead and experience the magic yourself! Take your business to greater heights with the best business finance platform in town.