A Mobile System for Managing Personal Finances Synchronously

Abstract

Many SMMEs fail within their first year of operation in South Africa mainly because of the lack of proper financial management skills. A number of attempts have been made by way of software applications; however, these attempts fail. This paper intends to design and implement a system that addresses some of the financial management challenges faced by SMMEs. To achieve this, features of similar systems were studies intensively through related work then incorporated into our system design and then implemented. The main objectives of the new system, was to make it possible for SMME owners to have access to their financial information anywhere, have access to real time data, reduce the amount of time needed to enter data in the system and a system that is easy to use. Usability testing was done and the result was a system that was 20% better in keeping records compared to the user’s manual accounting system.