Best Invoicing Software For Small Business

Keeping track of your finance is one of the most important parts of business management and Invoicing ranks as number one. An effective invoicing system lets you monitor your customers, track payments and their outstanding balances. Besides, you current and future cash flow forecast upon which decisions are taken is based on what your customers have paid and what they are expected to pay.

Summary of Invoice Template:

  • Name of customers
  • Contact details
  • Product sold or services rendered
  • Amount and VAT charges
  • Expected payment period

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Accounting Software For Small to Medium Sized Business

Running a business in this digital era and managing your accounting system manually are two uncorrelated activities you can’t combine and expect the best.

As more businesses and customers become connected on a real-time to carry out transactions you cannot at the same time, afford to omit a sale, purchase or bank transactions in your book and expect to take a timely decision.

If you are a small and medium sized businesses looking for the best accounting software, here are key factors to look at before buying one.

Check Out: Sage Pastel & QuickBooks Software

  • Are you a new or existing business?
  • Do you have opening balances to set-up – account receivables, account payables, VAT payables, inventory on hand and value, bank balances and cash in hand, fixed asset balances, other current assets, and liabilities.
  • Can you afford the cost of running on the cloud?
  • Do you run multiple or single location business?
  • What industry is your business classified under?
  • Do you withhold tax from vendors?
  • etc

These are basic questions that will help you compare and select the best accounting software for your business.

You can connect us for a guide on the best accounting software for your business.

Best Accounting Software For Small Businesses

Whether you are just planning to start a business, already running a new business or own a thriving business, you will agree with me that accurate bookkeeping is the most difficult side of a business especially when you have bunch of invoices to enter, expenses to track, inventory to manage, tax to calculate on every sale made, assets to take account of and sync your data across account heads to determine your profit or loss trends. No wonder business owners have resort to automation as an alternative to manual recording.

By automating and integrating your various accounting system, you have a better time to take timely decisions that will move your business to the next growth stage.

For business in Ghana – Click here for more info about QuickBooks and Price in Ghana Cedis

Do you need an accounting software for your business? Call +2348105090001, +2348084219399

Benefits of Accounting Software:

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Best Payroll Software For SMEs In Nigeria

A Software for large, medium and small scale organisations/enterprise (A Payroll Software with a Difference)
Living in the digital era and managing your business payroll manually is unnecessary and inefficient especially when you have salaries to process for a good number of staff, tax payable to compute, deductions and employee’s liabilities to calculate.

Currently, there are numerous payroll software solutions available in Nigeria to assist business owners in this particular task. To help you address your specific payroll concerns, I will be sharing simple features of a good payroll:

1. Employee Information

  • Employee personal details, contact details, qualification, Emergency details, guarantor details e.t.c
  • Employee Payment method
  • Employee transfer, promotion and separation
  • Employee history record and lots more

2. Time Management (Attendance + Shift)

  • Attendance Calendar management
  • Real-time data from Biometric/Swipe card device/ Face recognition system
  • Attendance month setup to take into account the cut-off provision- pay salary on date 1st of every month e.t.c
  • Attendance can be imported from excel sheet
  • Employee shift rotation facility
  • Flexible and regular shift types with night shift functionality
  • Dynamic off-day/ week-off setup according to state, Branch, Employee Grade/Cadre or Employee specific
  • Timing policies for a grace period, late hours, working hours e.t.c
  • Set any working day to not – working day and vice versa in case of riots e.t.c
  • Employee overtime management

3. Payroll Processing

  • Leave management
  • Loan and Advance management
  • Loan and Advance EMI deduction automatic and displayed in salary slip
  • Loan rescheduling, stop payment and settlement options
  • Interest on loan calculation if required
  • Allowance Earning/deduction can be defined
  • Dynamic salary formula creation
  • On attendance and non – attendance pay heads
  • Salaries reprocess and posting features

4. Recruitment

A good Payroll Management Software can also help businesses in their recruitment:

  • A Web-based automated system for the recruitment process
  • It helps your recruiters and recruitment Managers to easily manage the candidate resumes, posts jobs to various sources, shortlist eligible candidates, manage candidate Interviews and send offer letters
  • HR/Admin can decide the interview panel for each recruitment process individually and rating for each process with interview date and time.

5. Training

Payroll Software come handy in training management in the following ways:

  • All details regarding the training to be conducted viz. date, time venue, budget, Candidates participating, alert to each participant irrespective of a branch, department etc can be decided here.
  • Training Calendar that shows all the upcoming training scheduled
  • If training is conducted by external/internal source then the details of the external/internal source can be entered here.
  • Employee feedback
  • Shows history of all training conducted and score of each participant/s and lots more.

6. Performance Management system

  • Key result area and key performance indicator defined
  • KRA Evaluation setting
  • HOD and Employee appraisal score
  • Competence report and lots more

7. Statutory deduction

  • Automatic calculation of PAYE deductions in accordance with PITA as amended by 2011 Amendment act.
  • Employers and employee pension contribution deduction
  • NSITF, GLI, NHF and other statutory deduction.

Payroll Software also provides Employee and Manager Self-service such that employee can:

  1. Apply for Leave
  2. Employee Asset requisition
  3. Make Loan/Advance requisition
  4. Submit suggestions
  5. Submit survey, feedback, self-evaluation e.t.c
  6. View training calendar
  7. View Employee profile information
  8. Download salary slip
  9. View attendance details
  10. View Leave application approval/rejection and Leave Balances

For more information – contact us at info@accountingsoftware.com.ng

Multiple Locations Software For Small & Growing Businesses

Running a business with several locations can be a daunting task especially when they are miles apart or demand extra-cost of travelling to each outlet or branch. Things become more complex when it boils down to overseeing the accounting systems maintained by each of these locations.

In this resource guide, I will be sharing tips on how to select the best accounting software for multiple locations.

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Integrating QuickBooks Online With Online Store – Woo commerce Shopping Cart

As more business switch to an online store to meet the growing demand for a website that lets customers make orders  and pay easily without physical interaction, there is the need to also have a proper system of tracking all sales and cash received and integrating these transactions to an offline or online accounting package for accurate business reporting.

In this guide, I will be reviewing accounting software integration with an online store (Woo Commerce as a case study).

Woo-commerce is one of the popular themes you can upload to your word press back end and get your online store up and running in five (5) minutes or less.

It is very flexible, allows for inventory and non-inventory management, fast and easy integration of payment processors like PayPal, Bank Accounts, and Credit Cards. You can also track all your sales order and customers from the dashboard via reporting.

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QuickBooks Multi Users Installation, SetUp & Configuration

The need for QuickBooks multi-users configuration arises when you want to connect different users to a particular data file in which each person works independently but on the same financials hosted on a central network.

The major advantage of this – is that it allows for flexibility and swift data entry for an organisation with growing volume of transactions and quick updates for your financials.

This roundup focuses on how to set-up Quickbooks on a multi-user environment.

QuickBooks Installation:

When installing QuickBooks, you need to have different licenses equivalent to the number of users intended and make sure you select ‘I will only be storing QuickBooks on the computer‘ when setting up QuickBooks on the server.

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Microsoft Dynamics Training For Enterprise & SMEs

Microsoft Dynamics ERP gives you the all-important tool you need to connect your entire business. From financial and supply chain management, through your operations and human resources, to the business intelligence and reporting you need to make smart decisions. Start with what you need now and easily adapt as your needs change – in the cloud or on your servers the choice is yours.

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SAP Business One ERP Training Course

SAP is the world’s leading provider of ERP software and services, with worldwide revenue in 2014 of 33.56 billion Euros and a 57 percent market share among major business application providers; it is one of the world’s largest software companies overall.

SAP ERP is a flexible, open technology platform that helps businesses run more efficiently (and profitably) by providing integrated management of key operations and supply chains.

This training guide is targeted at people looking for a way to have the right start in SAP environment.

SAP Business Overview

SAP Business One provides an entire set of core modules, including financials, sales, operations, customer management, and logistics, which enable a small-sized to the medium-sized enterprise to manage all aspects of the business.

This course provides an overview of the core functionality of SAP Business One including financials, sales, customer management, inventory, and reporting. In addition, the content is complemented by an assortment of activities that describe many of the day-to-day activities performed with Business One.

SAP ERP Training Course In Nigeria Kenya Ghana Business One

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Event Planning and Management Business Software

Event planning and management is another business where you see more of activities and less of accountability. The reason is not unconnected to the lack of basic accounting and bookkeeping system adopted by event planning business owners.

As more clients request for event planning and management services at the same with huge upfront payment, there is the need to ensure that funds are properly channelled to the appropriate units – from venue booking, ushering fees, catering charges, rental payments to other miscellaneous allocations – which gives rise to the quest for a customized accounting solution.

Accounting solution helps event planners track all cash received from clients and how profitability a job is.

This roundup presents the basic deliverables of accounting software designed for event planning and management business.

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Private Schools Accounting Software

One of the key challenges confronting private school proprietors has been how they can organize their books of account in order to track all students data while taking into account paid and outstanding school or tuition fees directly tied to a session which will disclose actual income received and forecast expected income from next sessions plus expense channels.

Here are tips to choosing the right Accounting Software solution for your private school finance.

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Accounting Software for Lending Company

Generally, lending business/company is a micro-credit business that accepts savings and provides credit facilities like SME Loan, Mortgage Loan, Personal Loan or Working Capital Finance to qualified customers

This roundup focuses on deliverables of accounting software customized for Lending firm.

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Rental Properties & Management Software

In my last guide, I shared tips on how real estate agent and property manager can choose the right accounting solution for their business.

Recommended Guide: Real Estate Management Business & Home Builder & Development

In addition to that, some property managers asked if I could also share detailed tips on how accounting software can work for property or estate rental business.

The roundup presents some of the features of a well-customized solution for rental properties:

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Accounting Software for Restaurant

As a restaurant business owner, one of your top priorities, as we’ve spotted from experience, is how you can offer the best meal at an appropriate price and get your customers come again. But do you know that bookkeeping also needs to be paid attention?

With proper bookkeeping and accounting, you can interpret your numbers, spot where your business sales are coming from and keep a tab on your finance on a real time?

In this guide, I will be sharing tips you should focus on before deploying accounting software for your restaurant.

Accounting Software Construction Industry Nigeria Kenya Ghana

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Accounting Software For Farm Business

Someone once asks if he could still deploy an accounting software for his farming business considering the fact the he had zero accounting knowledge. Besides, he seemed contented with the paper record which, from his words, has been helpful in a stock record and expenses.

This article will highlight key points he might have missed in addition to the huge time-saving accounting software for farming business would have earned him:

Accounting Software Construction Industry Nigeria Kenya Ghana

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Accounting Software for IT Companies

In an IT and software businesses, rapid sales growth and increasing activities brings pressures to the finance team: more accounting complexity, less time to adapt to changes and additional reporting requirements. Accounting software in this industry lessens your load by automating even the most complex financial processes. It adapts to your unique business needs, even as those needs change and lets you track your financial position on a real time.

In looking for the right accounting solution, here are salient points to keep a close watch on:

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Accounting Software for Supermarket

Generally, a supermarket is known to be a general merchandise store that stocks different varieties of consumables and household products.

Because of the complexity of price differential and ascertaining the quantity of each of the products available in store on a real time without doing the normal daily count, accounting software has been designed to help business owners stay on top of their business.

Read: POS Software for Small & Large Business

In using good accounting software for your supermarket, here are the key features you should watch out for:

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Accounting Software for Wholesale Distribution

Managing inventory distribution in wholesale is not an easy task especially when you have lots of stocks piled up in Warehouse.

You can read our guide on Accounting Software for Warehouse

In this guide, I will be sharing tips to choosing the best solutions for your warehouse distribution so you can be on top of your wholesale business.

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Can I Use QuickBooks To Manage Insurance Brokerage Business?

Insurance brokerage business isn’t run like a normal retail or product based business. Unlike a normal retail company that buys consumables and resell to customers, Insurance brokers are engaged in the service of helping clients subscribe for insurance products directly from insurance companies while they earn commission on premium paid. As curious as insurance brokerage business owners are (on how a simple software can organise their finance and track cash flow), that’s how they call for a demo.

Last week, I received a call from a Lagos based insurance brokerage company looking to migrate their transactions (3 year period) from excel worksheet to an affordable, off the shelf financial management software so that they can easily track premium receivables, remittance to insurance companies and view commission earned on monthly, weekly and annual basis. Based on the questions asked and direction of our discussion, I will be sharing practical tips on how QuickBooks can take your insurance brokerage business to the next level, so, if you have come to this page to get more details, you will surely find it useful for your company.

I have been in the software industry for 5 years+ before starting my business around implementation and custom application development and can confidently say that QuickBooks is the leading financial application for SMEs in Nigeria.

Here are what setups looks like in the insurance brokerage industry:

Lead Centre

This feature in QuickBooks is designed to help you track prospects you are currently talking to or selling insurance products to. It lets you classify a lead to either cold, warm or hot so that you can ascertain the level of commitment to put in before converting the lead into a customer. The lead centre tracks the name of the prospect, address/contact, updates on meeting and appointments via the note field, etc. 

Clients

You can also manage your clients, and track insurance premium paid for a specific period. The invoice feature lets you create “premium receivables” that will be due with details on the period covered, the client’s insurance policy number and other. All transactions that pass through a client’s name build up to form the client’s statement.

More features below:

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Accounting Software for Hospital

Running a medical centre without a proper accounting system is very common in Nigeria. This is not unconnected to the fact that majority of medical staff have zero knowledge of accounting and bookkeeping. I have even seen some that run on paper files and excel which could be tedious as their patient numbers run into hundreds and thousands (for multi-brand centres)

This guide centres on top questions you should discuss with your prospective software consultants before employing their service.

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Accounting Software for Hotels

In a hotel, a staff is dedicated to handling room booking request from customers which demands that you have a proper system of tracking all cash received or payment in advances as well as expenses incurred on each room.

This guide focuses on how to hire an accounting software expert who will help your set-up your books of account on a network and give multiple users access to your data file so you can easily track your business financials?

Here are relevant facts you need to clarify before hiring or employing the service of one:

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Accounting Software for Auto Dealers and Repair Shop

Autos are one of the heavy equipment businesses that require huge capital outlay. From the direct bulk purchase, import duties, inventory management, repair services to sales tracking, you would agree with me that this business is quite demanding and as such owners are advised to have a proper accounting system in place for effective management.

Read:  Software For Fleet Managment 

If you are looking for an accounting software to put in place, this implementation advice focuses on key points you need to know:

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Accounting Software for Pharmaceutical Companies

Pharmaceutical companies are well known to be product based outfits. They buy, sell and at times manufacture health related products. Considering the fact that Pharmaceutical companies deal in varieties of products, there is the need to have a proper inventory and account management system that will track item movements (sales and purchases) on a daily, weekly or monthly basis.

This review focuses on what an accounting solution does for pharmacy:

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Best Accounting Software for Manufacturing Company

Unlike a retail company that buys products from sellers and resell to her customers, manufacturing covers all activities that cut across material purchases, conversion, and finished products based a specified set-up and mix.

As a manufacturer, who wants to master his production business performance effectively, one of your major concern when tracking your day-to-day business operations should be how you can accurately record all the bill of materials consumed during production processes, direct labour wages paid and other direct costs that are relevant to the computation of manufacturing cost. This, among other transaction recording system, is what makes a business owner makes informed and reliable pricing decision. However, if you are looking for an accounting software that will save time and calculate your cost of production based on raw material cost per units and production volume, QuickBooks is the right software for your manufacturing company. The version of QuickBooks that does manufacturing functions is QuickBooks Premier and Enterprise Edition.

If you run a production outfit and are looking for accounting software that will track your manufacturing processes, here are key points you need to ask and confirm before buying your next software:

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