Useful Accounting Softwares for Accountants & Accounting Students in Nigeria

Accounting Software

Change is constant, competition increases daily, in order to beat the labour market requirements, one has to add value to oneself. The different between ordinary and extraordinary is the extra.  Know more, gain more. Preparing an account nowadays requires software which helps preparation of financial statement easier and faster. An accountant/accounting student need to acquire these knowledge in order to stay updated in accounting world. Accounts payable, accounts receivable and trial balance are essential functions of an accounting information system. Cost and complexity can vary greatly. Accounting Software is used by businesses to help automate and manage payroll, purchase orders and more. The Accounting Software industry is now a multi-billion dollar industry with hundreds of competitive solutions available, here are the 20 best.

20 AccountMate

Founded in 1984, AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support hundreds of users
simultaneously. AccountMate software is available for local installation or as SaaS. It is distributed exclusively through a worldwide channel of authorized solution providers.

For more info visit accountmate.com

#19 CYMA

CYMA Accounting Software provides the perfect accounting software solution for growing mid-sized businesses through flexible user environments, a full suite of useful accounting software modules, robust reporting, industry leading security, and advanced customization options. A wealth of additional modules and third party integrations makes CYMA accounting software the perfect mid-size accounting software solution.

For more info visit cyma.com

#18 Intacct

Intacct is a cloud financial management company. Intacct accounting software, in use by more than 7,300 organizations from startups to public companies, is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, contract management, revenue management, project and fund accounting, inventory management, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the internet via cloud computing.

For more info visit intacct.com

#17 Red Wing Software

Red Wing Software develops and distributes accounting and payroll software for small to mid-sized businesses, agribusinesses, municipals and nonprofits in North America. CenterPoint Accounting has many convenient, time–saving features such as pop–up reminders, quick lists, keyboard commands for “heads–down” data entry, and the ability to skip fields to speed up entry.

Red Wing Software offers Customer Care Plans with guaranteed response times, so you get questions answered quickly. They never outsource your questions to an offshore call center. 100% of Red Wing Software product enhancements are based on customer requests and suggestions.

They also offer a variety of training options including classroom, web training, or you can choose to have a consultant come to your site to help with training and/or implementation.

For more info visit redwingsoftware.com

#16 SAP

SAP provides the right foundation for your accounting and reporting teams. Their financial accounting solution unifies robust financial accounting functionalities to help you manage the complexities of your company's global accounting and reporting requirements – for greater efficiency and transparency across the enterprise.

Record all your financial processes into a comprehensive general ledger
Support multidimensional reporting and parallel accounting standards
Get complete financial accounting by integrating assets, payables, receivables, and inventory
Use powerful management accounting tools for orders, projects, cost centers, and profit centers
Leverage comprehensive functionality for closing automation, reporting, and audit support
For more info visit sap.com

#15 TRAVERSE

Traverse delivers the tools you need to drive your business. Traverse ERP software has been tailored to give you complete insight into all of your business processes. With Traverse you get seamless system integration across the Traverse application suite, while also integrating data with other databases and applications, such as third-party applications or websites.

Regardless of your industry, you can adjust Traverse to suit the needs of your business, right down to personalizing it for each employee. Instead of forcing you to change your business processes to fit the software, Traverse is flexible enough to adapt to the way you do business.

For more info visit osas.com

#14 Yendo

Yendo Business is a new type of online CRM and Accounting software for small business. You can create your own management accounts with ease, giving you a perfect snapshot of your company's monthly performance. Yendo Accounting takes the hassle out of managing your sales and lets you keep on top of invoicing, just key in invoices and send them instantly by email via Yendo. If you're owed money, Yendo can tell you how much, how long ago and by whom.

For more info visit yendo.com

#13 FreeAgent

FreeAgent launched in 2007, from the frustration that managing company finances was just too damn hard for most small businesses and freelancers. Since then they’ve doggedly stuck to their mantra of demystifying accounting and redefining the relationship people have with their finances. Discover a stress-free way to manage your business books. Say hello to FreeAgent - award-winning cloud accounting for freelancers and small businesses.

For more info visit freeagent.com

#12 NetSuite

NetSuite is the world's most deployed cloud Enterprise Resource Planning (ERP) solution, with over 20,000 organizations across 100+ countries. NetSuite ERP delivers the proven, comprehensive financial management capabilities required to grow a changing, complex business. NetSuite ERP takes your business beyond traditional accounting software by streamlining operations across your entire organization and providing you with the real-time visibility you need to make better, faster decisions.

Key Benefits

Accelerate the order-to cash process by 50%+
Slash financial close by over 50%
Drive better, faster decision-making with real-time data and reporting, and personalized dashboards
Improve workforce productivity with anytime, anywhere access
Lower cost of ownership by eliminating upfront and ongoing IT expenditures, and delivering automatic product upgrades
For more info visit netsuite.com

#11 Oracle

With hundreds of cross-industry capabilities spanning enterprise resource planning, customer relationship management, and supply chain planning, Oracle E-Business Suite applications help customers manage the complexities of global business environments. As part of Oracle’s Applications Unlimited strategy, Oracle E-Business Suite applications will continue to be enhanced, thus protecting and extending the value of your software investment. Oracle Financials Accounting Hub (FAH) allows you to efficiently create detailed, auditable, reconcilable accounting from a variety of source systems. It includes an accounting transformation engine with extensive validations plus accounting and rules repositories. The transformation engine consistently enforces accounting policies. The repositories provide centralized control, detailed audit trails, and simultaneously accommodates diverse corporate, management and reporting requirements.

For more info visit oracle.com

#10 Kashoo

Kashoo transforms how small businesses manage their finances. At its core, Kashoo is a powerful yet affordable online accounting solution designed specifically for small business. With no accounting experience, the business owner can quickly and efficiently “do the books” and move on to running the business. With the help of powerful visualization dashboards, business owners keep on top of the numbers impacting business, make better strategic decisions, and proactively take action. Financial goals are met and disasters are avoided.

For more info visit kashoo.com

#9 LessAccounting

Less Everything, a successful web firm for several years began pursuing Ruby on Rails product development in 2007. In the beginning, they struggled with accounting, because accounting is scary, accounting is boring and quite simply, no one likes accounting. So, they created LessAccounting. Over time they expanded the app to include online invoicing, client proposals, mileage tracking, Wesabe integration, payables and more. Everything about LessAccounting is simple and useful. Over time they expanded the app to include online invoicing, client proposals, mileage tracking, Wesabe integration, payables and more. Everything about LessAccounting is simple and useful. They hope it brings clarity to your small business accounting needs as it has done for them and thousands more.

Track all of your business expenses with LessAccounting, quickly and easily. You can put your expenses into categories, add notes to them, mark them as paid or due, and even upload a picture of your receipt with each expense.

For more info go to lessaccounting.com

#8 AccountEdge

AccountEdge Pro helps your small business manage your bank accounts, balances, account numbers and keep track of your annual budget. The Chart of Accounts includes all the accounts you need to track for your small business: assets, liabilities, equities, income and expenses. Choose from 100 Charts of Account templates, or create your own list of accounts to set your business up in AccountEdge. You probably have repetitive transactions that you need to record. Daily, weekly, monthly, quarterly, or yearly, you can enter these transactions one time and then be reminded to record the transaction before it hits your books. The Company Data Auditor helps you to make sure your business data is correct, protected, and balanced. It backs up and verifies your company file, lets you lock-down reconciled financial data, keeps an audit trail, and runs reviews to make sure your numbers are in balance.

For more info go to accountedge.com

#7 Bill.com

Bill.com, the fastest-growing business payments network with over 400,000 businesses, is disrupting the payments space and changing the way businesses pay, get paid, and collaborate with their customers and vendors. Bill.com serves customers through its direct, accountant, and bank channels, bringing together people, systems, and documents to redefine how business payments are made.

Bill.com integrates seamlessly with your accounting software:

Eliminate redundant and time-consuming data entry
Eliminate human errors from manual re-typing
Simplify account reconciliation
Integrate financial and business applications on their platform
Their integration capabilities allow you to sync payment data with your accounting system, which will remain the record of truth.

For more info visit bill.com

#6 Microsoft Dynamics

Microsoft Dynamics GP gives small and midsize businesses complete control over their finances, inventory, and business intelligence (BI) information within an easy-to-use and easy-to-deploy enterprise resource planning (ERP) software solution. Start with what you need now, and easily adapt as your business needs change. In the Microsoft cloud or on your servers—the choice is yours.

For more info visit microsoft.com

#5 Xero

Xero is designed to be the accounting engine for your small business, giving you real time access to your financial data and access for your accountant or bookkeeper for quicker, easier collaboration at any point. Log in online anytime, anywhere on your Mac, PC, tablet or phone and see up-to-date Financials. It’s small business accounting software that’s simple, smart and occasionally magical.

Explore more features at xero.com

#4 Wave

Fast, easy accounting for your small business. Wave's accounting tools are 100% free, secure, and accountant-approved. Real accounting, unlimited invoicing. The world's fastest growing small business accounting software. Made specifically for entrepreneurs, freelancers, consultants and small businesses with 9 employees or less. And it's 100% free.

For more info visit waveapps.com

#3 FreshBooks

Loved by over 5 million, FreshBooks lets you create professional looking invoices in seconds, automatically record expenses with ease and track your time quickly and efficiently so you can focus on what matters most - serving the needs of your clients. In January 2003, Mike McDerment, co-founder and CEO for FreshBooks, was running his four-person design agency. One day he accidentally saved over an old invoice, and snapped – he knew there had to be a better way. Over the next two weeks he coded up a solution and eventually turned that side project into what is now FreshBooks. Nearly a decade later and over five million users strong, FreshBooks has grown to be the #1 cloud accounting specialist for small business owners.

Try Freshbooks for free for 30 days at freshbooks.com

#2 Sage

An easy-to-use business accounting software, Sage 50 Accounting helps you invoice customers, pay bills, manage inventory and stay on top of banking. Sage 50 (formerly Peachtree) brings you best-in-class accounting standards, secure desktop installation, unlimited access to support, plus new subscription plans that offer the best value for your business. You decide when to move your business processes to the cloud. Keep your accounting information securely on the desktop and expand your potential with cloud and online apps that connect with your software.

Try it for free at sage.com

#1 Quickbooks

Easy to set up and use. And unlike spreadsheets, it does the accounting automatically. QuickBooks helps you keep track of the money coming in and out of your business, all in one easy-to-use place. So you always know where you stand, and you’re always ready for tax time. Don't worry about losing your laptop or important files. QuickBooks automatically backs up your data with bank level security so it's always safe, and always available, from any device.

Start your free trial at quickbooks.com

The rankings for this list were based on the amount of customers each software product has along with recent online reviews. We greatly appreciate any feedback, just send us a message below.

Source: AccountMate, CYMA, Intacct, Red Wing Software, SAP Financial Accounting, TRAVERSE, Yendo, FreeAgent, NetSuite, Oracle, Kashoo, LessAccounting, AccountEdge, Bill.com, Microsoft Dynamics, Xero, Wave, FreshBooks, Sage, Quickbooks.