Title: Analyzing the Efficacy of Using Accounting Software in Mitigating Financial Management Challenges Faced by Medium Enterprises in Mabalacat City
Authors: MICHAEL ANGELO A. ANGELES, LOREN ANN Y. CASTRO, MICA-ELLA C. CERVANTES, MARY MAY M. ESCURO, JOSEPHINE EVANGELISTA, PhD, RICARDO S. JIMENEZ, LPT, DBA
Volume: 9
Issue: 6
Pages: 246-261
Publication Date: 2025/06/28
Abstract:
Medium-sized businesses frequently deal with a wide range of financial management issues. These difficulties may impede their general profitability, stability, and expansion. The study examined the effectiveness of accounting software in reducing the financial management difficulties experienced by medium-sized businesses in Mabalacat City. The study was limited to the medium enterprises within the Municipality of Mabalacat and did not include small and large enterprises. Using a descriptive-correlational research design, with the help of a 4-point Likert scale questionnaire, which is validated by three (3) validators, and respondents that are identified using convenience sampling as (24) accounting personnel in medium enterprises, the study determines and measures the connection between different financial management issues and the use of accounting software. The results show that accounting software has a significant impact on enhancing financial management and is very successful in reducing financial management challenges for medium-sized businesses. Due to the limited sample size in this study, there is no statistically significant correlation between the effectiveness of accounting software, demographic profile, and business-related aspects. It is recommended that medium-sized enterprises invest in more complex accounting software that will help streamline the financial management processes by eliminating time-consuming tasks about data security.