Understanding the FIRS E-Invoicing Mandate The FIRS e-invoicing system requires that all regulated invoices—especially for B2B and B2G transactions—be cleared by FIRS before issuance. Each invoice must receive: Unique Invoice Reference Number (IRN) Cryptographic Stamp Identifier (CSID) This ensures authenticity, prevents fraud, and enables real-time tax reporting. QuickBooks Online Integration Read more
Quickbooks is a powerful accounting software that helps small and medium-sized businesses manage their finances. However, Quickbooks alone may not be enough to handle all the accounting needs of your business. You may also use other apps and software to run different aspects of your business, such as e-commerce, inventory, Read more
Stock management, also known as inventory management or stock control, is the process of ensuring that you have the right amount of products in stock for your customers. Stock management is crucial for store chains, as it affects their profitability, cash flow, customer satisfaction, and operational efficiency. There are many Read more
Businesses that use Accounting software are currently faced with a choice between maintaining dollar based subscription-Software options or Naira Based Accounting solutions. The former is currently carries a hefty price tag, because they are denominated in dollars, which now is a significant burden given the exchange rate volatility. On Read more
Creating an Effective Accounting System for Retailers Introduction To run a successful retail business you will requires an effective accounting system. An strong accounting system ensures accurate record-keeping, streamlined processes, prompt and informed decision-making. Let’s explore some key components of such a system. 1. Inventory Control Track inventory: Monitor stock Read more
Multi-Location Based Inventory and Accounting System allow a customer to understand her inventory needs and and also support her to make wise decisions on how to manage her inventory. The big challenge in today’s business environment and a Common problem faced with Inventory management such as Ordering quantities, safety stock, Read more
Do I need an accounting software? This is a frequently asked question by most start-up, small and medium-sized companies. The quick answer is usually No! (But maybe: Yes!). It’s pretty common for small business owners to put themselves in charge of everything for their small business, including keeping the books, Read more