Accounting Software For Sachet Water Companies

As a business owner or finance office in charge of managing finance for a  bottled or sachet water company (pure-water), key areas you may be interesting in more than anything are how to accurately track sachet water productions, quantity produced, the number of bags distributed to customers or resellers, amount returned and the cash collected by salesmen on a daily basis.

Sachet water business, at times, can be frustrating if you don’t have an effective accounting system that will monitor cash flows, expenses and report the actual stock movements – you may even lose more than you are gaining, especially when your staff are not trustworthy.

In implementing an accounting software for your sachet water company, here is a brief demo on how we can customise QuickBooks Premier for your business: we choose Premier because it comes with a manufacturing feature; a built-in function that assembles your raw materials into finished product – so if you had bought nylon, paid for factory materials or dug a borehole that supplies water, the software can accurately monitor all cost incurred as bill of materials – which is the cost of production.

For companies that have multiple warehouses or store in which stocks are transferred from the main production unit to other stores where salesmen can pick them up for distribution, QuickBooks Enterprise is highly recommended.

How QuickBooks can work for a sachet water business:

  • QuickBooks has an inventory feature that lets you set-up all factory materials needed to produce bags of sachet water including cost incurred, quantity produced and available for sale units.
  • You can run transfer to track all stock distributions to various outlets or locations by inputting “quantity transferred to or fro” at cost price.
  • For sales, you can use the sales receipt to track all bags sold for the day and amount collected which should automatically reduce the quantity on hand at the specific selling location.
  • All cost incurred on selling and distributions can also be recorded as cost of sales to ascertain the actual profit on sales.
  • Salaries and wages paid to salesmen, including office expenses can also be recorded.
  • QuickBooks banking window lets you track your bank accounts, cash transfers, cheque payments, charges and reconcile differences between the bank statement and cash book balances at the end of the month.
  • For payroll, you can track all bonus, deductions and PAYEE using journal entries.
  • QuickBooks also has a reporting window that reveals the actual position and trend of your business on a real time – profit or loss, statement of financial position, cash flow, sales, expenses and more.

For inquiries on how we can set you up with QuickBooks or for further questions on areas you want us to address, contact us on 08105090001, 08084219399 or mail info@accountingsoftware.com.ng

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What QuickBooks Software Will Do For Your Business

QuickBooks is an Accounting Software that makes your accounting tasks easier, simpler and effective. It is designed to eliminate the complex and difficult process of managing your cash flow and make decision making faster and better.

There are three versions of QuickBooks Desktop Licences – Pro, Premier & Enterprise Edition – and 3 versions of QuickBooks Online – Simple Start, Essential, & Online Plus

QuickBooks Pro and Premier are one-time licence software, no yearly subscription fee while Enterprise Edition is available as one-off license (with no advanced inventory) or subscription.

The online versions, Simple Start, Essential or Online Plus, are subscription based.


QuickBooks is affordable and easy to deploy, just call our support centre for help: 0810-509-0001, 0808-421-9399 or mail to info@accountingsoftware.com.ng


Why You Should Buy QuickBooks For Your Business

  • Suitable for retail, wholesale, distribution, manufacturing, real estate, travel, oil & gas, medical centres, IT product resellers, hotels, micro-credit, cooperatives, legal firms, auto dealers, school, consulting services, NGO, event managers, and any other business type – as long as they earn, spend money and manage money.

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Accounting Software For Private Equity Firms

Private equity firms are private finance firms that invest in high-growth and profitable businesses – They mobilize fund from selected individual or corporate bodies, buy equity shares in small – medium firms ranging from 5% to 20% with the purpose of enjoying steady return on investment for a certain period or selling their investment at a premium.

This article is not about private equity firms but shares useful tips on how a typical accounting software customised for private equity firms should work – using QuickBooks

Investment in shares

In QuickBooks, you can create all the existing equity holding of a firm as an asset (Investment) and add their current value of the shares as an opening balance.

Here is a sample snapshot of how your equity holding:

Accounting Software For Private Equity Firms

 

 

 

 

 

 

 

You can also effect changes in the value of your equity holding on a monthly or annual basis and track unrealised profit or loss via “General Journal Entry”

Sales of Equity Shares

On the sale of equity share in a company, QuickBooks can also track the value of transactions (part or outright disposal) and record cash received (direct credit or cash). You can do this via the “General Journal Entry Window”

Finally, dividend earned which could be reinvested or received as cash is not left out – You can use the “General Journal Entry Window” to treat the transaction.

For more guide, read tips on accounting treatment for trading stock here.

If you have questions or need us to present a demo on how QuickBooks can work for your private equity firm or hedge fund, contact us on 0810-509-0001, 0808-421-9399 or send a demo request to info@accountingsoftware.com.ng

Accounting Software For Courier Company

Courier companies are serviced based businesses that help clients or customers deliver parcels, documents or goods to different locations. A good example of a courier company in Nigeria is FEDEX, one of the world’s leading logistics companies serving million of individuals and corporate customers.

In this guide, I will be sharing tips on how accounting software can simply automate your business processes and make daily tasks effective:

  • You have a customer dashboard designed to manage your client’s information and show their transaction history. If you maintain an individual account that tracks all transactions – payments and invoices – specific to each client, an accounting software will accurately reveal the current status of your customers – receivables, recent payments, the latest invoice issued and cumulative transaction value.

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Understanding QuickBooks Software & the Right Version for your Business

Our QuickBooks Accounting software, which comes with genuine licenses, product numbers and validation code, lets you run your business efficiently. You can opt for the one-off desktop version or subscribe to the online version depending on your needs.

While the desktop version is installed on your computer system, you can as well have it on multi-user platforms where we will network your laptop PCs to a central server or selected administrator system. The Cloud version is managed by QuickBooks which gives you seamless and unrestricted access to your data file, even from your mobile or tablet via QuickBooks mobile app.

To help you understand the desktop version better, here are the different QuickBooks desktop software and their features.

QuickBooks Desktop Accounting Software for Small Businesses In Nigeria

QuickBooks Pro

1 – QuickBooks Pro

QuickBooks Pro helps small & mid-sized businesses to manage inventory purchases and sales through purchase orders. The maximum current users allowable on QuickBooks Pro is 3.

These tools are there to make your life easier and give you control over your accounts.

  • Lead Centre:
    Enter follow-up notes for sales lead and contacts that can be converted to customers.
  • QuickBooks Calendar
    · View daily/weekly and monthly reminders/to-do notes and transaction that is due.
    · Easily print your calendar for staff meetings.
  • Customers/Payment/Company snapshots
    · Customise your own dashboard to view important customer information, overdue payments and general company performance.
  • Customer collection centre
    · Take control of overdue invoices by making use of the new collection Centre
    · Select and email overdue invoices in batches with the click of a button.
  • Report Centre
    · Tag your favourites report for future use and run them at ease with the options to export to Excel or PDF.
  • Customer and supplier Centre
    · View customer balances and transactions at a glance for all customers or suppliers.
    Reconciling your VAT, performing bank reconciliation and balancing your books are simple with QuickBooks Pro.

Don’t know the right software for your business, you can contact us for support and advice

For pricing plan, installation, set-up and training, call these lines: 0810-509-0001, 08084219399 – send a mail to info@accountingsoftware.com.ng

Continue reading “Understanding QuickBooks Software & the Right Version for your Business”

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