A computerized accounting information system collects, stores and processes financial/economic data for decision making purposes. The study examines the manual (existing system) of book-keeping and accounting in-order to reproduce a prolife of the manual accounting system, but in a computerized/automated manner.
Confronted with the problem of in-adequate practices of most small and medium enterprises in Nigeria, the researcher designed a computerized system that is convenient, accurate user friendly for SME operators to utilize.
The system is built using PHP computer language, and can run on a virtual server for multiple users. The software encompasses all standard accounting practices/methodologies ranging from daily journal postings/sales, purchases, inventories, expenses etc. the financial statements such as statement of comprehensive income, statement of financial position and the traditional cash book.
Other features making the application a unique one, is the ability of the application to measure financial performance of the enterprise as well as budgetary controls and bank reconciliation functions.
KEY WORDS Account, PHP Profit, SMEs, Financial Statement, IFRS.
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