Accounting-based Digital Payment Systems for SMEs

Batik SMEs who have successfully sold their products through e-marketplace are now entering a new stage. They need the management of financial data from sales to bankable accounting reports. All existing e-marketplaces in Indonesia are only providing visitor statistics and sales reports without providing any features for accounting reports. The problem is the ability of the SMEs to make financial statements only uses simple calculations based on income, expenses, and notes on debt and accounts receivable. This habit has been carried out for years, causing difficulties in obtaining the detailed financial information needed by financial institutions and for business development purposes. The integration of accounting software into e-marketplaces should be added to facilitate SMEs who lack the ability to make financial reports. This feature is expected to automate financial statements until the report can be approved by financial institutions. This paper reviews the availability and possibility of the digital payment system in e-marketplaces to provide embedded accounting features, open access to integration of accounting software from third parties and propose suitable model for SMEs.