Practical accounting and tax for Nigerian businesses.

Featured article

Tax practice

May 15, 2026· 10 min read

Rev360 by NRS: what Nigerian businesses must understand about Nigeria's new digital tax administration system

The Nigeria Revenue Service has launched Rev360, a digital tax administration platform replacing TaxPro Max. Here is what it changes for Nigerian SMEs, accountants, and growing businesses — and how to prepare your records before compliance pressure builds.

Read article

More articles

Tax practice

How to file Nil VAT returns on Rev360 in Nigeria: a practical guide for SMEs

Nigerian businesses can still attract ₦100,000 penalties for not filing VAT returns even when there were no sales. This step-by-step guide shows you how to file a Nil VAT return on the Rev360 portal correctly, avoid late-filing penalties, and stay compliant with the Nigeria Revenue Service.

May 17, 2026 9 min read

₦

Monthly VAT return

NRS · Form 002

Output VAT

₦60,000

−

Input VAT

₦30,000

Payable to NRS₦30,000

File by the 21st via NRS Rev360

Tax practice

How to calculate and file VAT in Nigeria for small businesses

A practical step-by-step guide to computing output VAT, input VAT, and your net VAT payable to NRS every month. Includes a worked example and the full filing process on NRS Rev360 — the digital tax administration platform that replaced TaxPro Max.

April 28, 2026 8 min read

≠

Invoice

INV-1042

Total payable₦107,500

Due

Receipt

RCP-0987

Amount paid₦107,500

Paid

Accounting for SMEs

The difference between an invoice and a receipt in Nigerian business

Many Nigerian business owners use invoices and receipts interchangeably. Here is what each document means, what it must contain, and why the difference matters for VAT claims.

April 28, 2026 6 min read

%

A/R ageing

₦3.53M outstanding

₦2.17M overdue

₦820k

₦540k

₦970k

₦1.2M

0–30 days

31–60

61–90

90+

Accounting for SMEs

How to manage accounts receivable and reduce late payments in Nigeria

Late payments are one of the biggest cash flow problems for Nigerian SMEs. This guide shows you how to track what customers owe and collect it faster with a structured AR system.

April 28, 2026 7 min read

÷

Sole trader

Personal Income Tax

LawPITA

Files toState (SIRS)

Rate band7%–24%

Ltd company

Company Income Tax

LawCITA

Files toNRS (Federal)

Rate band0% · 20% · 30%

Same business · two different tax regimes

Tax practice

Income tax vs company income tax in Nigeria: what every business owner must know

Personal income tax and company income tax are two separate obligations in Nigeria. Understanding which applies to your business prevents penalties and double-filing mistakes.

April 28, 2026 7 min read

Σ

Today

Dashboard

May

Revenue

₦4.2M

Expense

₦2.7M

+18% vs last month

Accounting for SMEs

Why Nigerian SMEs need proper bookkeeping and how to start today

Most small businesses in Nigeria do not keep proper financial records until something goes wrong. Here is why bookkeeping matters and how to start without a full-time accountant.

April 28, 2026 6 min read

Coming soon

• Tax practice

  How to calculate PAYE tax in Nigeria: step by step for 2026

  A practical guide to computing PAYE deductions for employees using the current consolidated relief allowance and progressive tax bands under PITA.

  Coming soon
• Excel and automation

  How to build a petty cash system in Excel without macros

  A beginner-friendly guide to creating a fully functional petty cash tracker using Excel formulas and structured tables. No VBA or coding required.

  Coming soon
• Student resources

  ICAN exam preparation: how to approach financial reporting questions

  Practical tips for ICAN students on how to structure answers for financial reporting and analysis questions in professional level examinations.

  Coming soon