Background of the Study

As technology continues to develop, advancements in computers plays a vital role in

modernization currently. People are now reaping the benefits of its magnificence as renowned

programmers and software developers managed to build a convenient software application to

give people the profit of efficiency of workloads in many areas particularly in education or

universities. The main goals of the finance system, are to handle information and create reports

financial statements.

Using a financial-based system can significantly save time and effort well, as greatly

reduce or eliminate mathematical errors. Additionally, it enables the availability of information

compared to a manual process. This implementation of software accommodates the students such

as budgeting and tracking their expenses respectively, this financial software simplifies the process

of creating and managing budgets allowing students to effectively keep track of their income and

expenses. It can help students to remember their bills and deadlines preventing complications in

any payment and the associated fees. Also, according to IvyPanda (2022) The Effectiveness of

Financial and Accounting Software Tools. “The fundamental merit of software-based tools is that

they enable someone to make an effective decision as he/she is able to access real-time

information” Simply, financial software help the students decide decisions about their finances, it

may be to gain knowledge about saving and investing through the use of software. The software

applications are designed to generate the statement after ensuring that the account balances are

accurate as it can printed out if the client wanted a receipt. At the end of each period the computer

can also automatically perform the closing process. In addition, it promptly updates accounts to

reflect any activity. While, employees primarily focus on inputting transactions, into the computer.

The computer automatically. Upon request, handles the other steps involved in the finance cycle.