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Looking for the best accounting software in Nigeria? Have you been using Excel sheets for your accounting and bookkeeping tasks, or perhaps you are still doing the old manual entry?
Are you a Nigerian business owner seeking to give technology more space in your business by adopting the use of accounting software?
With the variety of options in the market, it can be pretty hard to make a decision.
Before you settle for just a name, why not stay put as I take you through the journey of the best accounting software in Nigeria?
Why Businesses Need Accounting Software
First off, before showing you the best accounting software, what is all the fuss about accounting software
Is it worth the hype?
I'm going to address why businesses need accounting software.
Simplified Business Records
Accounting software provides an automated system for creating recurring customized receipts for customers. At the same time, handles a professional and customized invoicing system. This same system covers contacts of vendors, cash receivables, cash inflows and outflows.
Handling the day-to-day record of a small business and staying up-to-date with every single transaction, can be a daunting task. Even without having the needed hands in staff to carry out these various tasks, a self-employed entrepreneur or a firm can still maintain accurate business records while using accounting software.
Saves Time
Time is money. Unarguably, a firm using accounting software will maximize more time in running their business financial management than a firm that does everything manually.
The automation process involved allows the entrepreneur or the finance team to focus on fewer activities, while the bulk of work is done by the system.
From scheduling bank payments, sending reminders to clients for payments, preparing cash statements, profit and loss, balance sheets and tax filing, automation helps you save time.
Reduced Errors
One thing to be sure of in the use of accounting software is reduced errors in business records.
The rule of thumb here is that you are required to supply accurate data and leave the accurate delivery to the system.
Humans are prone to mistakes especially when trying to deliver within a short deadline.
On the contrary, accounting software is not affected by such limitations. At whatever time required, you can retrieve any information you need, given it is within the services it offers.
Secured Data
Your business data is more secure using cloud-based software. It is safe and easy. You don't have to worry about data loss or system crashes.
Best Accounting Software in Nigeria - Tyms Book
Because I understand your need to make the best decision, I will be highlighting specific reasons that make Tyms Book the best option for businesses in Nigeria.
A Home-grown Solution
There is no better solution for your accounting and bookkeeping needs than one that takes cognizance of the peculiarities of the market and understands the ecosystem. About 80% of Small Business Enterprises SMEs) in Nigeria experience failure due to cash flow problems arising from poor financial management practices. Tyms Book was created with such research data in mind to deal with such issues.
Ease Of Use
With Tyms Book, the technological solution does not equal complexity, but simplicity. The goal is to ensure small businesses can achieve digital financial management even without the services of an accountant.
You don't have to be all techie to navigate through the software.
Customized And Automated Invoicing
How do you feel doing other business duties and still having tasks like reminding clients of a due payment to sort themselves out, simply because you use automated invoicing?
This is what Tyms Books affords you.
Also, it is easy to track your receivables with our customized invoicing system.
Branding, at its best!
Also, you stay updated with your cash inflow and know when each cash receivable is due. Our secure system ensures you don't miss out on any transaction.
Seamless Online Payment
We understand that SMEs and startups operate with multiple payment gateways, Tyms book allows you to integrate all these options. Hence you enjoy seamless online payment and have all your business financial records in one place.
What did you hear about flexibility in payment to get your customers to pay you faster?
We understand that too, and that's what Tyms Book affords your business.
Inventory Management Made Easy
Take your inventory management a notch higher with our barcode-capturing feature. Keep track of your stock and expected returns on sales in a secure system.
Do you run a retail business or are you are storekeeper? Stay updated with your stock information.
Financial Reports In One Click
To be updated with your business health, easily access your financial reports in one click. From Cash Statements to Profit or Loss statements to Balance Sheets. Readily access all the financial reports of your business from our automated software. This way business decisions become easier and faster. Never have to worry about not being able to hire an accountant.
Zero Headache With Tax Filing
Which better way can you as a small business owner bid goodbye to the anxiety that comes with tax season than to have your books in order ahead of time? Our software ensures you have everything in place from bills to receipts, to invoices, stay ahead and have your bookkeeping needs met.
Track Expenses and Manage Bills
Knowing where your money is going as an SME or startup is essential to your growth. Keep track of your expenses and manage your bills with our software. This way, you can capture your vendors and know what takes up your business resources the most. For service-based businesses, you can easily keep track of every dime spent on any project.
Take Your Business Global With Our Multi Currency Feature
There is no limitation with using Tyms book, our software allows you to bank and carry out transactions beyond the borders of your country. This way you can trade and do business across the globe.
API Integration For E-commerce
If as an SME, you have a digital platform, you can easily sync your online sales and inventory with Tyms Book. With the API, third-party online platform activities can be recorded on Tyms Book.
Manage Expenses With Corporate Cards
Our corporate cards allow us to automate payables for businesses. With virtual corporate cards generated, business owners can link the cards to their bills or any of their expenses. Tyms Book tracks card transactions and keeps automatic expense records Take your inventory management a notch higher with our barcode-capturing feature. Keep track of your stock and expected returns on sales in a secure system.
Profitability Status
How about knowing how profitable your business is as frequently as weekly?
This is one huge benefit of using Tyms Book. Don't be deceived into thinking your bank balance equals your profitability. With the business data entered, our automated system keeps you updated on your business profitability.
Roles That Can Use Tyms Book
A lot of business decides on accounting software without asking the question, how simplified is this software for use?
What is the use of a business solution, if it is so complex or if you can't navigate your way without being a skilled software engineer or trained accountant?
Tyms Book as accounting software is not particular to accountants or the finance team of an organization. Whether you are a founder/CEO with zero knowledge of accounting, Tyms Book is very much simplified for your use.
CFOs, Bookkeepers, Auditors and staff members of a business with as much as watching the demo can get started on how to use the software.
Industries Where Tyms Book Is Useful
Tyms Book's use is not streamlined for those who are in finance-related industries.
It can be of utmost use to these also:
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Event Planning
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Real Estate
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Fashion and Designing.
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Beauty and Cosmetics
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Groceries/ Shopping Malls.
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Business Consultancy
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Audit Firms
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E-commerce Stores
Size Of Businesses That Requires Tyms Book
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Micro Businesses
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Small Businesses
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Medium Businesses
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Enterprises
Features In Tyms Book And Its Benefits
Sales
Go from manual entry to digital records of sales made.
Invoices
Send customized and automated invoices to customers and clients. Never have to miss payday with automated reminders.
Receipts
Go paperless with our electronic receipts. And, have a safer way of storing up all the information from receivables.
Expenses
Keep a record of every dime spent on your business. Also, keep track of what is eating up your working capital.
Bills
Manage bills and keep track of where your money is going. Efficiently manage all your payables.
Quotes
Do you have to send quotations to clients before you render a service? Seal deals faster with smart-looking and professional quotes.
Inventory
Manage your inventory by capturing barcodes and easily audit your inventory from anywhere.
Customer Management
Customer record management has never been easier. Keep track of information about your customers. Also easily audit the kind of customers you have from either their swift or late payments.
Vendors Management
Keep a record of your suppliers and goods received.
Bank Reconciliation
Reconcile your accounts easily by importing your bank statement, and comparing the information in your Tyms Book app.
Assets Management
With Tyms Book, you go beyond basic bookkeeping to keeping track of all your business assets.
Budgeting
There is no way you will keep struggling with budgeting as a small business owner when you use this feature on Tyms Book.
Projects Financial Management
Are you currently managing one or more projects? Efficiently manage your projects with this feature.
Tyms Book Versus Other International Accounting Software
Before you subscribe to accounting software from outside the country, here are some key benefits of using Tyms Book over them:
Cost
Tyms Book is very affordable, with plans as low as NGN1,000. You don't want to fall into the trap of subscribing to the software you can't renew.
What if I tell you that with an international option, your budget will come as high as $25, without still having access to some features on Tyms Book's affordable plan?
Click to see how Tyms Book compares to QuickBooks, Wave, Xero and FreshBooks.
No Dollar Stress
Every business owner in Nigeria understands the stress of doing transactions in dollars. Is it the irregularities, or the fact that you need a dollar card? And, rates are high and floating? You don't need to go through all that when there is a Nigerian solution with premium value.
Reliable Customer Service With Zero Time Zone Difference
Have you been in a situation where you needed customer service to respond urgently to you during work hours for a service, only to see Closed? Simply because of the time zone difference! We know how it feels. With a Nigerian vendor, this is not a challenge at all, because we operate in the same time zone!
Bottom Line
I believe this article has guided you into seeing the best accounting software in Nigeria.
Tyms Book is your one-stop accounting software for your qualified financial management.
Let's get you started. Tyms Africa
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Author
Blessing Obiora
Content Writer