Analysis of the Effectiveness of Cashless Payments on Financial Recording and Reporting of MSMEs

Abstract

The development of financial technology has driven a shift from cash to non-cash (cashless) payment systems, including within micro, small, and medium enterprises (MSMEs). This study aims to analyze the effectiveness of cashless payment systems on the financial recording and reporting of MSMEs. Effectiveness is measured based on the ease of record-keeping, speed of financial data access, transaction data accuracy, and the simplicity of the financial reporting process.

This research uses a descriptive quantitative approach, with data collected through questionnaires distributed to 50 MSME actors who use cashless payment methods such as QRIS, e-wallets, and bank transfers. The data were analyzed using descriptive statistics and a comparative analysis of conditions before and after the adoption of non-cash payments.

The results show that the use of cashless payments has a positive impact on the effectiveness of financial recording and reporting in MSMEs. Cashless systems help minimize manual recording errors, accelerate transaction data collection, and make it easier for business owners to prepare financial reports in a more organized and structured manner. However, some challenges remain, particularly related to digital literacy and limited access to technology among certain MSME operators.

This study concludes that cashless payment systems significantly contribute to improving the efficiency and accuracy of MSME financial management and can serve as a strategic solution in encouraging business digitalization