EFFECT OF ACCOUNTING SOFTWARE ON PERFORMANCE OF FIRMS IN NIGERIA. (A STUDY OF FIRST BANK PLC)

ABSTRACT Accounting takes an important role in operating an organization. Every business must keep track of financial information that relates to its business activities but as the business grows, acquires new customers, enters new markets and keeps pace with constant changes in information technology, companies need to maintain highly accurate and up-to-date accounting, inventory and statutory records (Igbaria et al, 2019). The specific objectives of this study were: to assess whether the use of software accounting system increases effectiveness and efficiency in the performance of organization; to examine if there is any significant difference in customer patronage after the adoption of software accounting system; to assess the challenges that are encountered with the use of software accounting systems in an organization. The survey and expo-facto research design were employed in the study. The primary data-collected were analyzed using Statistical Package for Social Sciences (SPSS). The recommendations made were that; the accounting software systems can enable automation of highly repetitive tasks thus enabling the firm cut down costs, and the real-time monitoring of costs along production lines will enable managerial decisions and inventory tracking.