Impact of Financial Accounting Software on Financial Accuracy and Compliance in Small Businesses
Year: 2025
Type: article
Abstract: Small businesses are the backbone of many nation's economies, but since they lack the resources and experience to keep correct financial records and follow compliance laws, they frequently fall behind larger corporations.The development of financial accounting software has given these businesses access to resources that greatly improve their capacity to oversee financial activities.The use of accounting software to help small firms comply with regulations and increase financial accuracy is examined in this article.It assesses empirical data from case studies, the features provided by contemporary software solutions, the conventional difficulties in small business accounting and the wider ramifications for governance and operational effectiveness.The difficulties of software adoption are also covered in the article, along with a prediction for future developments in this field.Ultimately, this study emphasizes that although financial accounting software is not a cure-all, small businesses can achieve financial stability and legal compliance by properly implementing it.
Author: Surya Ravikumar
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4414553149
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