Business Fraud Risk Calculator: Results

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!