Abstract
It is crucial for business organizations to be competitive in this rapid change and intense market. Therefore, technology is an inevitable factor for business operations to maintain their competitiveness, especially when information plays a very important role in management decision. Accounting software is an important tool for management to efficiently gather information in time of making decisions, determine business strategy and response quickly to the market. However, accounting software available in the market is costly which means small businesses will most likely not able to afford it. Therefore, the purpose of this research is to develop a digital accounting system that processes and stores accounting database on a cloud system. This development is an alternative option for all kinds of businesses--SMEs to big firms--to be able to access and use an online digital accounting system on a cloud-computing service (hereafter, “DAC”). The authors used the Waterfall development model through the requirements, analysis, design, implementation, testing and maintenance as the method of developing this accounting application. This research has gathered information from users (SMEs), professors, lecturers, teachers and accounting instructors as a focus group. PHP language was used to develop the system and MySQL was used to store the database. The analytical and system design instruments are Use Case Diagram, Algorithm, Flowchart and ER-Diagram. After SMEs and other businesses had free access and used the developed DAC, they experienced time savings and achieved greater accuracy of accounting entries when compared with manual accounting systems. It was also found that when compared with other accounting software’s available in the market as of now, DAC costs less while offering the benefits of financial planning to its users. Therefore, DAC may become a new route of all kinds of businesses to achieve their goal or at least maintain their competitiveness in the market.
Highlights
In the past, accountants recorded accounting transactions manually which resulted in frequently found errors and delayed information
To increase market competitiveness and efficiency of business, managers have to rely on information technology by implementing their own accounting systems or obtaining accounting software to replace a manual accounting system
The waterfall model was used in the Software Development Life Cycle (SDLC)
Summary
Accountants recorded accounting transactions manually (manual accounting systems) which resulted in frequently found errors and delayed information. Manually recorded accounting information may not be relevant for managers’ effective decision-making. To increase market competitiveness and efficiency of business, managers have to rely on information technology by implementing their own accounting systems or obtaining accounting software to replace a manual accounting system. By using a computer system and accounting software, managers will have information technology as a tool to get timely, accurate and reliable accounting information to efficiently make economic decisions (Hongchai, 2011). Accounting software is an important part of accounting information system processes by computer. Accounting software is used to process the accounting transactions received and generate financial reports which will be used by managers and related parties. Accounting software is beneficial to managers because it offers timely
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