TaxHQ Accounting Suite: Invoicing, Expenses, and Tax Reports in One Place

Beyond Calculators: A Complete Business Toolkit

When we launched TaxHQ, we started with tax calculators. Simple tools to help Nigerians understand their tax obligations.

But our users told us something important: "I don't just need to calculate taxes—I need to track my business."

So we built something bigger: a complete accounting suite designed specifically for Nigerian tax compliance.

What's Included

1. Tax-Compliant Invoicing

Creating an invoice in TaxHQ isn't just about billing your client. It's about getting your taxes right from the start.

Features:

• **Automatic VAT Calculation:** Toggle VAT on/off. When on, 7.5% is calculated automatically.
• **WHT Rate Selection:** Select the appropriate WHT rate based on service type. The system calculates what your client should withhold.
• **Professional Templates:** Clean, professional invoices that include all legally required information.
• **Sequential Numbering:** Automatic invoice numbering for proper record-keeping.
• **Multi-Currency Support:** Invoice in Naira, USD, GBP, or EUR.

Tax Impact Preview:

When you create an invoice, you immediately see:

No more guessing what this invoice means for your tax position.

2. Expense Tracking

Every expense affects your taxes. TaxHQ makes sure you capture that impact.

Features:

• **Category-Based Tracking:** Organize expenses by category (utilities, rent, supplies, etc.)
• **Receipt Upload:** Attach photos or PDFs of receipts for audit protection
• **Input VAT Tracking:** When you pay VAT on purchases, it reduces your VAT liability
• **WHT Deduction Recording:** Track WHT certificates received from clients
• **Recurring Expenses:** Set up monthly expenses once, track them automatically

Tax Impact:

Every expense logged updates your:

• **Input VAT:** Reduces your net VAT liability
• **Deductible Expenses:** Reduces your taxable income
• **Profit & Loss:** Updates your real-time P&L

3. Contact Management

Your vendors and clients aren't just names—they're tax relationships.

Client Profiles Include:

• Contact information
• TIN (Tax Identification Number)
• VAT registration status
• Default payment terms
• Transaction history

Vendor Profiles Include:

• Contact information
• TIN (verified or unverified)
• WHT status
• Invoice history
• Payment records

Why TIN Matters:

Section 81 of the Companies Income Tax Act requires you to verify vendor TINs before payment. Our system flags unverified vendors and warns you about the ₦5M penalty risk.

4. Real-Time Tax Reports

This is where TaxHQ shines. Your accounting data automatically generates tax reports.

Available Reports:

VAT Summary

• Output VAT collected
• Input VAT paid
• Net VAT liability
• Period-by-period breakdown

WHT Summary

• WHT withheld from you (credit)
• WHT you withheld from vendors (liability)
• Certificate tracking

Income Tax Position

• Revenue summary
• Expense summary
• Taxable income estimate
• Provisional tax calculation

Profit & Loss

• Real-time P&L statement
• Tax-adjusted figures
• Comparison to prior periods

5. Tax Liability Dashboard

All of the above feeds into a single dashboard:

• **This Month's VAT:** ₦X
• **WHT Position:** ₦Y credit/liability
• **Income Tax Estimate:** ₦Z
• **Next Deadline:** X days

One glance. Complete visibility.

Built for Nigerian Tax Law

TaxHQ isn't generic accounting software with Nigerian labels. It's built from the ground up for how Nigerian taxes actually work.

VAT Rules We Handle

• 7.5% standard rate
• Zero-rated exports
• Exempt supplies (medical, educational, etc.)
• Input/output matching
• Monthly filing reminders

WHT Rules We Handle

• Dividend withholding (10%)
• Rent withholding (10%)
• Professional services (10% for companies, 5% for individuals)
• Contract work (5%)
• Automatic rate selection based on vendor type

CIT Tiers We Handle

• 0% for turnover under ₦50M
• 20% for turnover ₦50M-₦100M
• 30% for turnover above ₦100M
• Automatic tier detection

FIRS Forms Generation

When it's time to file, TaxHQ generates the forms you need:

Form A (Monthly PAYE)

If you have employees, generate Form A with:

• Employee schedule
• PAYE calculations per employee
• Total remittance amount
• HTML format for printing or TaxProMax upload

VAT Return

Generate your monthly VAT return with:

• All taxable supplies itemized
• Input VAT claims
• Net VAT payable
• Ready for TaxProMax submission

WHT Return

Generate WHT schedules showing:

• All WHT collected
• Vendor details
• Certificate references
• Monthly summary

The Workflow: How It All Connects

Step 1: Daily Operations

• Create invoices when you bill clients
• Log expenses as they occur
• Upload receipts immediately

Step 2: Weekly Review

• Check your Tax Liability Dashboard
• Ensure all transactions are categorized
• Verify TIN status for new vendors

Step 3: Monthly Filing

• Generate VAT return from dashboard
• Generate PAYE return if applicable
• Submit to FIRS
• Record filing completion

Step 4: Year-End

• Generate annual summaries
• Export data for your accountant
• Prepare for annual tax returns

Why Not Use Tyms, Hagfish, or Wave?

Good question. Here's the honest comparison:

The difference: Other tools help you track money. TaxHQ helps you track money AND taxes simultaneously.

Getting Started

Create Your Account

1. Visit taxhq.ng

2. Sign up with email or Google

3. Complete your business profile

4. Verify your TIN

Set Up Your Business

1. Enter company details

2. Add your bank accounts (optional)

3. Import existing contacts

4. Configure tax settings

Start Transacting

1. Create your first invoice

2. Log your first expense

3. Check your Tax Liability Dashboard

4. See the magic happen

What's Coming Next

We're not stopping here. The roadmap includes:

• **FIRS E-Invoicing Integration:** One-click submission to FIRS (ready now)
• **Bank Feed Integration:** Auto-import transactions from your bank
• **Receipt OCR:** Scan receipts, auto-extract details
• **Multi-Entity Support:** Manage multiple companies
• **Accountant Portal:** Share access with your tax professional

Conclusion

TaxHQ started as a tax calculator. It's now a complete business platform for Nigerian entrepreneurs.

Invoicing. Expenses. Contacts. Tax Reports. Tax Forms. All in one place.

And the best part? The core features are free.

No more Excel spreadsheets. No more "I'll figure out the taxes later." No more surprises.

This is accounting for the Nigerian reality.

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*Ready to upgrade your business operations? Start with a free invoice and see how TaxHQ brings it all together.*