Introduction

*"Imagine you are part of a school club, and everyone contributes money for
activities. Now, what if the person in charge loses some receipts or forgets to record
some expenses? People might start asking, ‘Where did our money go?’

This is exactly what happens in many campus departments. They handle a lot of
money, but they still track finances using paper receipts, handwritten notes, and
spreadsheets. Because of this, mistakes happen—expenses get miscalculated,
budgets aren’t properly tracked, and financial reports are unclear.

Our study focuses on creating a Financial Monitoring System to help departments

track expenses automatically, manage budgets more efficiently, and make
financial reports clear and secure. Instead of relying on paper, everything will be
recorded in a computer system where it’s safe, accurate, and easy to check
anytime."*

Problem Statement (What Issues Are We Solving?)

"Right now, campus departments face three big problems with their finances:

1 Is the system we’re making high quality?

1️⃣

 We need to check if it works correctly (functionality).

 It should be easy to use (usability).
 It must be reliable and not crash (reliability).
 It should work fast without slowing down (efficiency).
 It should be easy to update and improve in the future (maintainability).

2️⃣How does our system help solve financial problems?

 It prevents wrong or missing records by automatically tracking expenses.

 It helps departments plan their budgets properly so they don’t overspend.
 It makes financial transactions safer by keeping records secure and controlled.

3️⃣How well can our system scan receipts and turn them into text?

 We will check how accurate it is in reading receipts.

 We will see if it captures all important details from the receipt.
 We will test if it can balance accuracy and completeness in scanning receipts.

"In short, we want to know if our system works well and actually helps solve financial
problems."

Objectives of the Study (What Are We Trying to Do?)

"To solve these issues, our study has three main goals:"
1️⃣Build a financial tracking system that:

 Accurately records expenses so no money goes unaccounted for.

 Helps departments monitor their budgets without mistakes.
 Keeps financial records safe and organized for easy access.

2️⃣Test if the system really improves:

 How accurate financial records are (so no missing or duplicate entries).

 How well departments manage budgets (to prevent overspending).
 How secure financial transactions are (to stop unauthorized access).

3️⃣See how automation makes things easier by:

 Reducing manual work (less time spent checking receipts and reports).
 Giving instant financial updates (so officers don’t have to calculate everything manually).
 Making financial data easy to access for authorized users anytime.

"If we accomplish these goals, our system will help campus departments manage their
money more efficiently, prevent mistakes, and keep financial records safe and
organized."

I. Understanding the Study Itself

🔹 1. What is the main problem this research is solving?
➡ Campus departments still rely on manual financial tracking, which leads to
errors, budget mismanagement, and security risks. Missing receipts, duplicate
entries, and slow reimbursements cause confusion and inefficiencies. Our system aims
to automate the process to ensure accuracy, efficiency, and security in financial
transactions.

🔹 2. What is the purpose of this research?

➡ The goal is to develop a Financial Monitoring System that will help campus
departments track expenses, manage budgets, and generate reports automatically.
This will reduce human errors, speed up financial processes, and improve
transparency.

🔹 3. What are the expected outcomes?

➡ We expect the system to:
✔ Reduce financial errors by automating data entry.
✔ Improve budget tracking with real-time updates.
✔ Increase transparency by making financial records accessible to authorized
users.

II. Justifying the Need for the System

🔹 4. Why do campus departments need this system?
➡ Because manual financial tracking is time-consuming, error-prone, and difficult
to verify. Departments often misallocate funds, struggle with delayed
reimbursements, and lack a clear system for reviewing expenses. Automation will
solve these problems.

🔹 5. How does your system compare to existing solutions?

➡ Unlike general accounting software, our system is specifically designed for
campus departments. It includes automated expense tracking, budget monitoring,
and financial reporting tailored to their needs.

🔹 6. What makes this system unique?

➡ Our system integrates OCR (Optical Character Recognition) to scan and extract
text from receipts, making financial tracking even faster and more accurate.

III. Technical Aspects of the System

🔹 7. What technologies will you use?
➡ We will use:

 Laravel & MySQL for the backend.

 HTML, CSS, JavaScript for the front-end.
 OCR technology for scanning receipts.

🔹 8. How will the system work?

➡ The system will allow users to:*
✔ Log expenses automatically through a web interface.
✔ Monitor budgets with real-time tracking.
✔ Generate financial reports for better transparency.*

🔹 9. How does the system convert images of receipts into text?

➡ We will use OCR technology to scan receipts and extract text. The system will
evaluate accuracy based on:*
✔ Precision – Ensuring text is correctly recognized.
✔ Recall – Capturing all relevant data.
✔ F1 Score – Measuring overall effectiveness.*

🔹 10. How does the system ensure data security and prevent unauthorized
access?
➡ We will implement:*
✔ User authentication – Only authorized personnel can access records.
✔ Role-based access control – Users will have different permission levels.
✔ Data encryption and backup – Preventing data loss or tampering.*

IV. Evaluation & Measurement of Success

🔹 11. How will you test the quality of the system?
➡ We will evaluate the system using the ISO/IEC 9126 software quality model,
which assesses:
✔ Functionality – Does the system perform all required tasks?
✔ Usability – Is it easy to use?
✔ Reliability – Does it run without errors?
✔ Efficiency – Does it process transactions quickly?
✔ Maintainability – Is it easy to update?*

🔹 12. How will you measure its effectiveness in solving financial problems?
➡ We will compare financial records before and after system implementation to
see improvements in accuracy, efficiency, and security.

🔹 13. Who will evaluate and test the system?

➡ We will conduct system testing with campus finance officers, department heads,
and coordinators who regularly handle financial transactions.

V. Research Methodology
🔹 14. What research methods will you use?
➡ We will use a descriptive and experimental research design:
✔ Surveys and interviews to understand financial challenges.
✔ System testing to measure the system’s impact.

🔹 15. Who are your target respondents?

➡ We will focus on campus finance officers and department coordinators because
they are responsible for managing department funds.

🔹 16. What challenges do you expect during the research?

➡ Possible challenges include:
✔ Resistance to change – Some may prefer manual methods.
✔ Technical issues – OCR accuracy might need fine-tuning.
✔ Data security concerns – Users must be trained on proper access control.*

VI. Practical Implementation & Future

Enhancements
🔹 17. How feasible is the implementation of this system in real campus
departments?
➡ It is highly feasible because it requires only a web-based platform that can be
accessed through existing university infrastructure.

🔹 18. How scalable is this system?

➡ It can be expanded to multiple departments and later be adopted by other
universities with similar financial challenges.

🔹 19. How will this system impact financial management in the long run?
➡ It will help campus departments:*
✔ Save time by reducing manual data entry.
✔ Reduce financial errors with automated tracking.
✔ Improve transparency by making reports easily accessible.*

Explanation for Each

Objective
11️⃣To develop a Financial Monitoring System that
enhances:
1.1 Accuracy in tracking departmental expenses

💡 Explanation:

 Manual tracking often leads to errors, lost receipts, or missing transactions.

 The system will automate expense recording, making sure every transaction is logged
correctly.
 This helps departments avoid mistakes and keep financial records organized.

📌 Example:
"Instead of manually writing down expenses, the system will store and track them
automatically, reducing errors."

1.2 Efficiency in budget monitoring and allocation

💡 Explanation:

 Departments sometimes overspend or misallocate funds because they lack real-time updates.
 The system will show available budgets instantly, helping them stay within limits.
 It will also speed up reimbursements and approvals, making financial processes smoother.
📌 Example:
"Officers can check the system anytime to see if there’s enough budget left for an
event, avoiding overspending."

1.3 Transparency and security in financial reporting

💡 Explanation:

 Some financial records are hard to access or unclear, leading to confusion and mistrust.
 The system will generate clear reports automatically, showing where funds go.
 It will also secure financial data with user permissions and backups to prevent
unauthorized changes.

📌 Example:
"Department heads can quickly pull up financial reports without digging through
papers or worrying about missing records."

2️⃣To evaluate the system’s impact on:

2.1 The accuracy of financial records

💡 Explanation:

 The system should reduce errors and missing transactions compared to manual tracking.
 We will check if financial records are more consistent and reliable after using the system.

📌 Example:
"We’ll compare past manual records with system-generated ones to see if errors have
decreased."

2.2 The efficiency of budget management

💡 Explanation:

 The system should help departments manage their budgets faster and more effectively.
 We’ll see if it reduces the time spent tracking expenses and making financial decisions.

📌 Example:
"If financial officers used to spend days balancing budgets, we expect the system to
cut that time significantly."

2.3 The security of financial transactions

💡 Explanation:

 The system should protect financial data from unauthorized access or tampering.
 We will test its security features, like user logins, encryption, and data backup.

📌 Example:
"Only authorized users should be able to edit records, and every transaction should
be securely stored."

3️⃣To analyze how automation in financial monitoring

can:
3.1 Reduce administrative workload

💡 Explanation:

 Manually tracking finances takes a lot of time and effort.

 The system will automate calculations and reporting, making financial work faster and
easier.

📌 Example:
"Instead of reviewing receipts one by one, the system will generate reports instantly,
saving hours of work."

3.2 Provide real-time financial insights

💡 Explanation:

 Officers should be able to see updated financial data anytime, instead of waiting for reports.
 The system will show spending trends and budget status instantly.

📌 Example:
"At any moment, an officer can check the system to see how much budget is left,
without waiting for a report."

3.3 Improve accessibility of financial data

💡 Explanation:

 Financial records should be easy to find and retrieve.

 The system will allow authorized users to access financial data anytime, anywhere.
📌 Example:
"Instead of searching through stacks of papers, users can log in and get the info they
need in seconds."