Name: Finora Business
Rating: 4.8 (120 reviews)
Author: Finora

Question 1

What is Finora Business?

Accepted Answer

Finora Business is an all-in-one accounting and tax compliance platform built specifically for Nigerian businesses. We help SMEs manage invoicing, bookkeeping, expenses, and tax compliance — including VAT, WHT, CIT, and PAYE — all in one place. Finora Business is developed in Lagos, Nigeria, by a team that understands the unique needs of Nigerian businesses. It is part of the Finora product family.

Question 2

Who is Finora Business built for?

Accepted Answer

Finora Business is designed for Nigerian small and medium-sized businesses, freelancers, sole traders, and accounting firms. Whether you run a retail shop, a tech startup, a consulting practice, or manage multiple client businesses as an accountant, Finora Business is built to simplify your finances and keep you tax-compliant.

Question 3

Is Finora Business the same as other companies called "Finora"?

Accepted Answer

No. Finora Business (finorabusiness.com) is a Nigerian accounting and tax compliance platform, and part of the Finora product family. We are not affiliated with any other company using the name "Finora" in other countries. Our official website is finorabusiness.com and our app is at app.finorabusiness.com.

Question 4

Where is Finora Business based?

Accepted Answer

Finora Business is based in Lagos, Nigeria. We are a Nigerian company building software specifically for the Nigerian business environment, including compliance with NRS (formerly FIRS), State IRS, and CAC requirements.

Question 5

What features does Finora Business include?

Accepted Answer

Finora Business includes invoicing, receipts, expense tracking, petty cash management, bills and supplier management, products and inventory, fixed assets, chart of accounts, journal entries, financial statements (Balance Sheet, Profit & Loss, Trial Balance), bank integration, tax calculations (VAT, WHT, CIT, PAYE), tax filing services to FIRS and CAC, and advanced reports.

Question 6

Does Finora Business support double-entry bookkeeping?

Accepted Answer

Yes. Finora Business uses a proper double-entry bookkeeping system with a full chart of accounts, journal entries, and real-time financial statements. Every transaction automatically creates the correct debit and credit entries.

Question 7

Can Finora Business generate financial statements?

Accepted Answer

Yes. Finora Business generates Balance Sheet, Profit & Loss Statement, and Trial Balance reports in real time. These statements follow Nigerian accounting standards and can be exported as PDF or Excel for auditors, banks, or tax authorities.

Question 8

Does Finora Business connect to Nigerian banks?

Accepted Answer

Yes. Finora Business integrates with major Nigerian banks for automatic transaction import and reconciliation. You can also upload bank statements in PDF format for banks that support it.

Question 9

Can I manage inventory with Finora Business?

Accepted Answer

Yes. Finora Business includes product and inventory management with automatic COGS (Cost of Goods Sold) calculations, stock tracking, and inventory valuation. When you create an invoice with inventory items, stock levels and COGS journal entries are updated automatically.

Question 10

Does Finora Business support multiple currencies?

Accepted Answer

Finora Business is optimised for Nigerian Naira (NGN) transactions. All amounts are stored with kobo precision to ensure accurate financial reporting and tax calculations.

Question 11

What taxes does Finora Business handle?

Accepted Answer

Finora Business handles VAT (Value Added Tax at 7.5%), WHT (Withholding Tax), CIT (Company Income Tax), and PAYE (Pay As You Earn) including NHF, Pension, and NHIS contributions. We calculate these taxes automatically based on current Nigerian tax law.

Question 12

Is Finora Business compliant with the Nigeria Finance Act 2024?

Accepted Answer

Yes. Finora Business is fully compliant with the Nigeria Finance Act 2023 and 2024, including the Nigeria Tax Act 2025. We update our tax engine as new legislation is enacted to ensure your calculations are always accurate.

Question 13

Can Finora Business file my tax returns?

Accepted Answer

Yes. Finora Business offers filing services to FIRS (for VAT, WHT, and CIT), State IRS (for PAYE), and CAC (for Annual Returns). Our team files on your behalf so you can focus on running your business. Filing services are available on the Premium and Accountant Pro plans.

Question 14

Does Finora Business generate WHT certificates?

Accepted Answer

Yes. Finora Business automatically generates Withholding Tax certificates that comply with FIRS requirements. These can be issued to vendors and suppliers directly from the platform.

Question 15

How does Finora Business handle VAT on invoices?

Accepted Answer

Finora Business automatically calculates 7.5% VAT on applicable line items, tracks VAT input and output, and generates VAT returns ready for FIRS submission. You can also mark items as zero-rated or VAT-exempt as required by Nigerian tax law.

Question 16

How much does Finora Business cost?

Accepted Answer

Finora Business offers three plans: Free (₦0 — basic invoicing and receipts), Premium (₦5,000/month or ₦55,000/year — full accounting and tax compliance), and Accountant Pro (₦50,000/month or ₦575,000/year — multi-client management for accounting firms). All prices are exclusive of 7.5% VAT.

Question 17

Is there a free trial?

Accepted Answer

Yes. New Finora Business users currently get 60 days of full Premium access at no cost — no credit card required. After 60 days, you can subscribe to Premium or continue using the Free plan. Your data is always retained.

Question 18

What payment methods do you accept?

Accepted Answer

We accept all major debit and credit cards (Visa, Mastercard, Verve) and bank transfers via Paystack.

Question 19

Can I switch plans?

Accepted Answer

Yes. You can upgrade or downgrade your Finora Business plan anytime from your account settings. When upgrading, you are charged the prorated difference. When downgrading, changes take effect at the end of your billing cycle.

Question 20

What happens if my subscription expires?

Accepted Answer

You get a 2-day grace period to renew. After that, your Finora Business account is downgraded to the Free tier. Your data is retained for 60 days.

Question 21

Is my data secure with Finora Business?

Accepted Answer

Yes. Finora Business uses bank-grade encryption for all data at rest and in transit. We are NDPC (Nigeria Data Protection Commission) certified and follow SOC 2 compliant practices. All sensitive business data including customer information, employee records, and financial data is encrypted.

Question 22

Do I own my data?

Accepted Answer

Yes. You own all your data on Finora Business. You can export it anytime in CSV, Excel, or PDF format. We never sell or share your business data with third parties.

Question 23

Where is my data stored?

Accepted Answer

Your Finora Business data is stored securely on Google Cloud infrastructure with automatic daily backups and disaster recovery. We maintain 99.9% uptime availability.

Question 24

Is Finora Business NDPC compliant?

Accepted Answer

Yes. Finora Business is certified by the Nigeria Data Protection Commission (NDPC). We comply with the Nigeria Data Protection Regulation (NDPR) and maintain comprehensive data protection policies including breach notification procedures and data subject access request handling.

Question 25

How do I sign up for Finora Business?

Accepted Answer

Visit app.finorabusiness.com/register to create your Finora Business account. You can sign up with your email address and get started in under 5 minutes. No credit card is required.

Question 26

Can I use Finora Business on my phone?

Accepted Answer

Yes. Finora Business is available as a web application that works on any device with a browser, and we also have mobile apps for iOS and Android for on-the-go access.

Question 27

Do I need accounting knowledge to use Finora Business?

Accepted Answer

No. Finora Business is designed to be simple enough for business owners with no accounting background. We automate the complex parts — like double-entry bookkeeping, tax calculations, and financial statements — so you can focus on running your business. For accountants, we provide full access to the chart of accounts and journal entries.

Question 28

Can my accountant access my Finora Business account?

Accepted Answer

Yes. You can invite team members including your accountant with role-based access. Accountants on the Accountant Pro plan can also manage multiple client businesses from a single portal.

Question 29

How do I get help if I have questions?

Accepted Answer

You can reach the Finora Business team at hello@finorabusiness.com or through our in-app chat support. We also have a comprehensive resource library with guides on Nigerian tax compliance at finorabusiness.com/resources.

Frequently Asked Questions

About Finora Business

Product & Features

Tax Compliance

Pricing & Plans

Security & Data

Getting Started

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