Whether you are planning to start a new business, running an existing business or own a growing/profitable business in Nigeria, you will definitely agree that an effective accounting and book keeping is one of the most difficult parts of financial management; this is even worse when you have countless number of paper invoices, payment vouchers, stock worksheet on excel, tax papers in files and fixed asset register – all in a cabinet- but do not know where to start if you are to generate a financial report in less than 2 hours without making mistakes. It’s because of these challenges that smart business managers and accountants choose to automate their accounting systems.
By automating your accounting system, you make your staff efficient, faster and productive at work while making a decision that will take your business to the next level.
Moreover, a business that automates transactions entries enjoys an internal competitive advantage over related businesses running manual transaction postings as it:
- Takes care of everyday tasks easily
- Help them focus on growing sales and top line.
- Reduces paper invoices, save printing cost and lessen exposure to transaction manipulations.
While there is countless financial software that can handle office automation, one of the most user-friendly and easy to use accounting software right now is QuickBooks.
As the names imply, QuickBooks is an affordable software that makes it easy for you to quickly organise your sales, expenses, inventory, asset, liabilities and cash flow trend in one place. We understand that cost-saving and increasing profit is one of the key goals of every SME owners and as such will only be reviewing the one-off desktop version; no subscription or renewal licence.
What you can do on QuickBooks:
- Payment & PO
- Banking & Reconciliation
- Manage Multiple Exchange Currencies & Update Exchange Rates
- Inventory Management
- Customer & Vendor Management
- Material Assembly
- Fixed Asset
- Audit Trail
- Attach & Send Document Via Mail
- VAT Computation and Filing
- Excel Integration
- Import Functionalities
- For real estate, construction or consulting services, you can as well do project costing.
There are three different versions of QuickBooks for SMEs: Pro, Premier & Enterprise Edition. Each of these versions comes with unique features that make it different.
Before choosing the version to buy, here are questions we always ask our clients before helping them find the best solution for their businesses:
- What’s your line of business?
- What do you sell?
- Do you buy, assemble or manufacture your own products?
- Are there units of measures for material purchases or sales?
- Do you have multiple stores, branches or warehouse?
- Do you transfer/distribute inventories to branches?
- How many users do you want to give multiple access to a central data file?
- Do you want to host your data file on a local server, wide area network or computer storage disk?
- What report do you want the system to generate that you are not currently seeing or find it difficult to get on your current spreadsheet or accounting system
While we focus on recommending the best software version, we also understand that answers to the above questions make implementation faster, flexible and seamless so that client’s challenges are accurately tackled.