More Fraud Risk Advice

• Perform monthly bank reconciliations by someone who does not write checks
• Review Accounts Receivable reports and don’t let the person who does billing issue credits
• Limit permissions for people entering bills and you can do this in QuickBooks Enterprise Edition
• Use a credit card to track business expenses
• Utilize online banking to match expenses and deposits – by someone who does not write checks
• Utilize the Audit Trail Report and filter it for critical transactions – deleted invoices, credits, changed disbursements
• Use purchase orders for approval of large amounts – and get approvals on POs
• Ensure vendor records are complete – W9s should be required for all vendors who are not companies
• Reconcile petty cash or get Bento!