THE KNOWLEDGE AND USE OF ACCOUNTING SOFTWARE BY SMEs IN EDO STATE

ABSTRACT

This study presents a comprehensive overview of the critical issues surrounding the use and knowledge of accounting soft wares and their profound impacts on small and medium sized enterprises. There has been a purposeful transition from conventional traditional and manual accounting systems to digitally driven accounting systems as the business environment continues to grow quickly. As a result of this change, accounting software has been created that combines information technology and accounting principles to adapt to the shifting needs of businesses and SMEs alike however, its emergence will require a sound knowledge of its use and application The study focused on staff from four major SMEs around the ovia north east axis of Benin City, Edo state Nigeria Primary data was collected through questionnaires administered to 50 top personnels from the sample and a survey research design was employed. Data analysis involved descriptive statistics, and multiple regression models using the Eviews version ten (10) software. The research reveal a positive association between accounting software skills, accounting software challenges, accounting software fraud and errors control system and the performance of small and medium sized enterprises. As a result, the study recommends that SMEs should select accounting software that can grow alongside their business. Ensure that it can handle increasing amounts of data, transactions, and complexity also accounting software should comply with accounting standards, and ensure efficiency, reliability, ease of use, data quality, and accuracy to generate timely, accurate, and reliable information for effective decision-making and optimizing business performance of SMEs.