The development of digital technology today is increasingly real. The presence of digital technology provides convenience for humans to complete their daily tasks. The economic sector itself has launched many digital technology products that provide major changes in human life. One of them is a digital financial recording application.
Entropy (Enhancing the Role of Islamic Philanthropy in Alleviating the Economic Impacts of Covid-19 Outbreak) UGM research team led by Prof. Mahfud Sholihin, Ph.D. made a digital waqf money product. The product aims to facilitate the process of writing accounting reports for waqf money, known as SAWUT (Cash Waqf Accounting System). SAWUT is the only social science-based research team funded by LPDP with an international collaboration scheme in 2021.
On Wednesday (26/01), the SAWUT application was submitted to the Indonesian Waqf Agency (BWI) in the Multimedia Room of the UGM Rectorate Building. The event was attended by drg. Ika Dewi Ana, M.Kes., Ph.D. as the Vice-Rector for Research of UGM, Prof. Dr. Mustofa, Apt., M.Kes. as Director of Research of UGM, Dr. Bayu Sutikno as Vice Dean of Academic & Student Affairs of FEB UGM, Chairman and member of entropy UGM research team, Dr. Irfan Syauqi Beik as Chairman of PKTD BWI, drh Emmy Hamidiyah as Secretary of LK BWI, and Ir. Arief Rohman Yulianto as a member of PKTD.
SAWUT itself is a web app-based system used for recording accounting in waqf based on the PSAK 112 standard for waqf accounting. The outputs generated from SAWUT includes a general journal, ledger, activity report, changes in net assets, balance sheet, cash flow, and details of waqf assets. The urgency of making SAWUT is because there still isn’t an optimal waqf management system in Indonesia. This is proven by the number of waqf institutions that still record manually and have not implemented PSAK 112 accounting standards.
By representing the SAWUT application to BWI, it is expected that waqf institutions in Indonesia could be helped in conducting financial reporting in accordance with PSAK 112 standards. In addition, waqf managers (Nazhir) can use the SAWUT application to help the revelatory process integrated by the system so that existing data can be directly connected to BWI.
Reportage: Merisa Anggraini
