Small businesses often overlook the risk of employee theft and fraud. In most cases, weak internal controls leave the door wide open for embezzlement of company funds by unscrupulous employees. Fortunately, there are several simple techniques that can be implemented in QuickBooks to significantly decrease the risk of fraud. 1. The Root of the Problem [...]read more
Posted Friday, May 3, 2013The QuickBooks audit trail is a great tool for business owners, CPA’s, forensic accountants and anyone who is concerned about the integrity of the accounting files they use. Unfortunately, there are dishonest employees who look for weaknesses in systems and perpetrate fraud everyday. My bookkeeping firm, Outsource Your Books LLC, has been brought in on [...]read more
Posted Friday, January 25, 2013A few years ago, the QuickBooks Audit Trail feature could be turned on and off. However, in the most recent versions of QuickBooks, the feature is always on. Even the administrator can’t turn it off. It has its drawbacks, but for the most part, it is a very useful feature, albeit under-utilized. What does the [...]read more
Posted Thursday, April 12, 2012For eight years, the woman worked in accounts payable for a Catholic Archdiocese, gaining the trust of her superiors. Colleagues praised her quiet dedication and hard work, and noted that she prayed often. No one questioned the hundreds of checks she wrote at the archdiocese to cover small expenses, like office supplies and utility bills. [...]read more
Posted Thursday, March 29, 2012
I am a licensed CPA in both New York and Massachusetts, and a member of the American Institute of Certified Public Accountants.