Books that keep themselves.
Every day’s sales, costs, cash and payments are posted to proper double-entry books, ready for your accountant.
Your books
Kept up to date as you trade.
- Double-entry accountingSales, cost of sales, expenses and payments posted automatically.
- Chart of accountsReady to use, with your own expense categories.
- Late changes adjustedA late void or reopened day posts an adjustment automatically.
- Manual journalsFor anything your accountant needs to record.
Reports for your accountant
One period, every report.
- Profit and lossTaken from the books, with revenue shown without VAT.
- Balance sheet and trial balanceAs at the end of any period.
- General ledger and journalEvery posting, traceable to its source.
- VAT reportVAT collected and paid for the period.
Bank and cash
Every account matches its statement.
- Receiving accountsEach bank, wallet and terminal account with its own balance.
- Bank reconciliationEnter the statement balance and see the difference before posting.
- Cash over and shortDifferences from banking recorded automatically.
- Move money between accountsIncluding VAT payments, owner loans and drawings.
Spending
Every naira that leaves the business, recorded.
- ExpensesWith categories and the account they were paid from.
- Prepaid expensesRent and other costs spread over the months they cover.
- Monthly running costsRent, power, diesel and internet included in daily profit estimates.
- Supplier statementsWhat you've bought and what you still owe.
Accounts questions
Do I still need an accountant?
PosStop keeps your books and produces the reports, but you're still responsible for your tax returns. Most owners give their accountant access to the reports.
Does it handle VAT?
Yes. VAT is recorded on sales and purchases, shown separately in your profit and loss, and summarised in the VAT report.