Prior to the nineties, keeping accounting records by manual ledger bookkeeping was the order of the day. However in the nineties accounting records begin to be kept by accounting software. Common among these accounting software in Nigeria are :

(a) PEACHTREE ACCOUNTING SOFTWARE

(B) SAGE LINE 50 SOFTWARES

(C) PASTEL SOFTWARES

(D) DACK EASY SOFTWARES

(E) TALLY SOFTWARES and a host of others.

In the early nineties the purchase price of these software were relatively high ranging from five hundred to a million naira per software. But the prices begin to go down drastically as more and more companies begin to install and use them for the processing of their accounting data. The reduction is price was also brought about by the availability of training schools and consultancy outfit who organised training for all and sundry. So as more and more people get to know how to use these software more companies begin to purchase them and therefore leading to a reduction in their purchase prices.

Nowadays, the knowledge of at least two or three accounting software is the beginning of wisdom for an average accountancy graduate. In fact accountants are beginning to try to write accounting software because most of us are so vast in the use of these software that there is little or nothing we can not do with the programs.

I am presently beginning to try my hand in a demo accounting software that will generate sales reports and debtor’s accounts.

My knowledge in accounting software is so advanced that there is no accounting software I can not work on because they are all prepared strictly with the principles of double entry.

Most times computer consultants are not the best people to help you install your accountancy software because where they get to the set up stage they get lost entirely.

Among a number of benefits you get from installing accounting software are listed below:

- Instant financial statement report

- Good reporting format

- Network operations availability

- Sound archiving

- Good referencing

- Standard layout of bookkeeping

- Relatively cheap installation and maintenance cost

- Easy access and follow up from one person to the other

So the best bet for you is to get on board and install your accounting software today for the benefit of your company.

Prepared By Alh. Y. O. Olajide
Managing Partner
Olajide And Associates Nigeria (Chartered Accountants)
www.olajideassociates.com

(c) 2009