17 Best Accounting Software In Nigeria 2022

The importance of software in accounting in this century and age can’t be sidelined, and that’s just because a lot of things are changing, and we must too. Also, using software for your accounting reduces your stress and also faster.

I can vividly say that accounting software has been serving a great purpose, and it has been a great benefit to this generation. It’s well established that accounting is one of the most crucial, highly sensitive, and inevitable aspects of life.

 As a business owner and accountant, you should know that the success of a business is determined by how well the finance of the business is managed. That means if there is any loophole in your accounting or not done at the right time, it slows down the growth and development of your business, if not kill it. So, you should know how to and when to calculate your numbers correctly.

No matter the size of your business, there is a great need to manage your finances accurately if you want your business to grow, and that’s why In this article, I’ll be recommending some Best accounting software in Nigeria that has been serving its purpose. 

17 Best Accounting Software 

Here, I will discuss a few accounting software you have access to; they are:

1. Xero

This software was first used in New Zealand. It was initially used in New Zealand only, But recently, it has expanded worldwide, including Nigeria. This software has a good interface, robust set of features, offers exclusive accounting solutions, and is helpful for easy maximization of accounting operations such as inventory, invoicing, creation and emailing of customer purchase orders, time tracking, and copy to bills for payment. https://www.xero.com/us/try-now/accounting/xero-accounting-software/?gclid=EAIaIQobChMI57228d639wIVhrbICh0EfwPOEAAYAiAAEgIWevD_BwE&gclsrc=aw.ds

2. Sage Business Cloud

Sage Business Cloud Accounting is an upgraded version of sage 50, previously known as Sage One,  designed specifically for small businesses. Sage Business Cloud has a platform for accounting, payroll enterprise management, customer sales history, expense management, project accounting, compliance management capabilities, and much more.
Moreover, sage contains payment documentation and tax management tools, which help integrate it with programs. For example, Bank accounts can be managed with Sage by integration. It is also British-owned. https://www.sage.com/

3. Freshbooks

There is no way Freshbooks can be excluded from this list. This award-winning finance & accounting software is built with small and growing businesses in mind. It is simple, easy to use, and user-friendly. It helps in daily accounting activities such as invoice creation, payment acceptance, expenses tracking, billable time tracking, and financial reporting. With the Freshbooks collaboration feature, the problem of miscommunication between a company’s accounting and sales units is solved, and insightful tax summaries and reports are generated after all data is processed. FreshBooks is considerably good at managing bill history. https://www.freshbooks.com/

4. Quickbooks

Quickbook, just as the name implies, helps you balance your book quickly. QuickBooks is one really popular accounting software solution. This accounting software does well for your business in the area of sending online payment receipts, payment reminders, tracking receivables, as well as bank reconciliation, tracking expenses, drafting invoices, and monitoring financial reports, among others. Also, one notable advantage QuickBooks offers is automatically syncing business profiles to a single dashboard, where multiple users can view reports and corporate accounts.

Also, QuickBooks is ideal for businesses, professional and field services, product sellers, and nonprofit organizations. It allows users to generate gain/loss statements quickly and also offers vast insight into organizational capabilities, overdue items, payable bills, and accounting notes which help businesses keep their accounting data organized.  However, all these services depend on the package you choose, such as online, self-employed, premier, online advanced pro, or enterprise. https://quickbooks.intuit.com/

5. Accounteer

Accounteer is one of the Fast-growing Accounting Software providers in Nigeria. It is also Nigerian-owned. It manages your business’s finances as you can create invoices, keep track of expenses recurring invoices, monitor the profit performance of your business, etc.
Although accounteer is accounting software, it can be integrated into other apps such as HR, CRM, etc.

6. Sap ERP

System, Application, and Products, aka SAP, is referred to as a one-size-fits-all solution that can cater to any business size in the areas of supply chain management, product lifecycle management, human capital management, financial management, and customer relationship management solution.

Furthermore, in the area of Accounting, it helps in the general ledger, journal entries, project cost accounting, budget management, financial reporting, multi-currency support, and other functions. It is highly scalable so that as your business grows, it can still meet your accounting needs. The data recorded on the platform is utilized for real-time financial reporting and analytics.

7. Zoho Invoice

Zoho invoice has many features to make the Accounting process a breeze. It is a billing and invoicing software suitable for small and medium businesses. Some of its features include Expense Tracking, Credit Notes, Track Payments, Online Payment, Multi-Currency, Reporting, and more.
You can also customize your invoice to suit your taste and brand. It is also conducive to taxation processes.  It is used in many parts of the world. Zoho invoice is not complete accounting software, but you can integrate it with Zoho books or Zoho expense which is not so much used in Nigeria compared to Zoho invoice.

8. Tally

Tally is Indian-made. It provides you with excellent error detection and correction capabilities. Other functionalities provided by tally include accounting, finance, inventory, sales, purchase, point-of-sales, manufacturing, payroll, Inventory control, discount, collection reports generated, and branch management.

Tally contains a platform that carries out accounting aspect support tasks such as voucher management, bank account integration, and payment reminder letters. It also has a sales module platform that records receivables, payables, billing, Invoicing, etc. This software is also made up of Shortcut Keys.

9. Busy Accounting

Busy Accounting software helps your accounting teamwork with great precision and order. It is best suited for small and medium businesses, especially those in FMCG, Retail, Trading, Manufacturing, Distribution, and Service, as it helps them manage their business efficiently. It also supports accounting processes such as configurable Invoicing, Financial Accounting (Multi-Currency), multi-Company Accounting, Payroll Management Sales / Purchase Quotations, multi-branch management, and more. Tax management is one of its key functionalities.

9. Probitybooks

Probity books is a Nigerian-made Software that specializes in Retail POS, invoicing, and CRM Services .it is simple and user-friendly as it is made for non-accountants that want to manage and get insights into their business. It is suitable for retail businesses that want to maximize productivity and profit by leveraging the pros of technology. It can be used for Expenses and Inventory Management.

10. Intacct

Intacct is one good cloud-based accounting software solution from Sage, suitable for small and medium businesses.
Sage Intacct can automate critical accounting processes and give real-time financial and operational insights. It also offers solutions in revenue management, financial consolidation, general ledger, accounts payable/receivable, subscription billing, tax management, expense management, project accounting, and multi-entity consolidations. It can also be integrated with other business applications like CRM, payroll, or POS. The flexibility of this software is the one edge it has in the software industry.

11. Invoice.ng

Invoice.ng is an easy-to-use and straightforward Invoicing software suitable for small businesses and freelancers. It accepts online payment, records expenses, sends payment reminders and receipts, etc., and financial reports.
Although Invoice.ng is strictly an invoicing platform and not fully fleshed accounting software, you can easily integrate it into other applications. It also contains a free package to send five invoices per month. This lovely software is Nigerian Owned.

12. AccountEdge

AccountEdge is designed for small businesses. It serves as a platform for setting up e-commerce businesses and enables business owners to keep track of assets, liabilities, equities, income, and expenses. This software is made up of banking tools that allow users to send and receive money, prepare bank deposits as well as make electronic payments, print checks, and reconcile accounts.
Other features of AccountEdge are invoicing purchase orders, time billing, payroll, inventory, recurring transactions, company mileage, tax management, and charts.

13. Netsuite ERP

Although NetSuite ERP is primarily a customer relationship management (CRM) solution, it delivers comprehensive financial management capabilities by streamlining operations across organizations.  Some businesses also utilize their services with this software, like killing two birds with one stone.
Some of the accounting functionalities of Netsuite are financial management, general ledger, revenue management, fixed assets, inventory management, and billing. It can also be used to generate financial reports.

14. CYMA

CYMA Financial Management System (FMS) is two-faced. It is straightforward and fit for companies with complex accounting needs. It comprises vital functionalities like general ledger, accounts payable, accounts receivable, bank reconciliation, billing, expense tracking, inventory control, payroll, and much more.
CYMA Accounting Software can be customized to suit your organization’s needs better and has a Gantt tracking module useful for Non-profit Organizations.

15. LessAccounting

LessAccounting is genuinely a suitable name for this software as it has a reputation for being one of the most accessible and straightforward accounting software. You don’t need to love math or bookkeeping to use this software; it is suitable for small businesses and entrepreneurs whose accounting needs are not complex.  Its key features include taxation management, cash flow, online banking integration, invoicing, and payments. It also helps in generating reports for financial statements.

16. SQL Ledger

SQL Ledger is a double-entry accounting system. When recording transactions, the amounts entered as debits must be equal to the amounts entered as credits. SQL Database Server stores accounting data and can have a standard web browser as its user interface. The platform provided by SQL is Email integration, inventory management, invoicing, multi-currency, banking integration, recurring invoice, and much more.
It is important to note that everything in SQL revolves around its Chart of Accounts. They are also POS service providers.

17. Gusto

 Although Gusto specializes in providing HR solutions to businesses, some Nigerian businesses leverage their automatic payroll and tax processing features that help in the calculation, payment, and submission of your business’s federal, state, and local payroll taxes. It also helps in detailed payroll reports, digital signatures, hourly and salary-based computations, etc.
Gusto saves your business from spending timeless hours figuring out how to go about payroll taxes quickly. You can integrate gusto into other applications.

Conclusion

So here you have it! The list of the best accounting software in Nigeria can be used for every business, big or small. However, I will strongly advise you to avoid using free version software for your accounting because the risks are much and also, the payment for this software isn’t much to afford, and you will be happy you used them.