Set up proper accounting as a Nigerian startup
Step-by-step guide for Nigerian startups to set up a complete accounting system from scratch — choosing a tool, connecting your bank, creating invoices, and running your first P&L report.
Register a dedicated business bank account (Brass or Kuda Business). Never mix personal and business money.
Sign up for Wave Accounting (free) or Zoho Books.
Set up your chart of accounts: Revenue, COGS, Operating Expenses, Taxes.
Add your clients and create a professional invoice template in your billing currency (NGN or USD).
Set up recurring invoices for any retainer clients.
Import your first 3 months of bank statements to reconcile historical transactions.
At month end, reconcile your bank statement against your accounting records.
Run a Profit & Loss report to understand your runway and burn rate.