Do accounting errors & fraud really affect small businesses?... ABSOLUTELY!
Accounting errors and fraud undermine financial decisions, result in monetary losses and in some cases even force companies to close. Read the TRUE STORIES below to see how REAL small businesses are affected by errors and fraud every day.
In our blog, we like to pass on good information we find regarding errors, fraud, QuickBooks, and other accounting material for small businesses. Unfortunately in these harsh economic times, fraud is becoming an even bigger issue for small businesses- especially workers’ compensation fraud. Here are “The Good, the Bad, and the Ugly” of workers’ compensation [...]
Vendor fraud is a scenario when someone creates a fictitious vendor name to hide money for personal gain, earns unlawful kickbacks, overbills the company- you get the idea. Vendor fraud may not be the first type of fraud that comes to mind. However it’s still fraud, and no small business owner wants to deal with [...]
Employees are people you hire to help run your business smoothly with you and when you are unable to. You hope that they are knowledgeable, dependable, and above all trustworthy. Managers and directors of small businesses often call the shots when the owner is not around. Unfortunately, not all employees are as honorable and can [...]
Check fraud in something we have all heard of but not something we are ever prepared for or want to go through. These are stories of check fraud happening to businesses around the nation. Our goal is that with AuditMyBooks Analyzer, we are able to help fight check fraud and catch accounting errors in small [...]
I have seen too much QuickBooks fraud to remember.
A new bookkeeper tried to cover his tracks by backdating embezzlement entries to before he arrived. At the time, he was among the many who did not know that QuickBooks already had an always-on audit trail. Turning it on simply made QuickBooks begin tracking CHANGES to existing [...]
AuditMyBooks helps detect and avoid accounting errors and potential fraud in QuickBooks files, but can you tell office fraud is occurring before it’s too late? Check out these signs of office fraud, and if you weren’t already using AuditMyBooks- you’ll want to try it after reading these!
The Six Signs of Internal Fraud: http://accounting.smartpros.com/x59050.xml
Warning Signs of [...]
If you want to provide a higher level of service to your clients it is crucial that you provide them with more certainty. And, at times, you add value because you help them avoid the pain of uncertainty. Think about this… you’re at the doctor’s office, but they can’t diagnose what’s wrong! For a while [...]
A wide-spread check fraud ring is currently being investigated in Arkansas. Some of the confiscated counterfeit checks were made to look like local businesses in Jonesboro, AK. These checks mimic payroll checks from the company, Staffmark. The exact amount of check fraud is unknown, however it is said that it is an access of hundreds [...]
A Bookkeeper pleaded guilty to tax evasion and fraud following charges that she embezzled money from her employer. She was working as a bookkeeper for Pernikoff Construction in St. Louis, where she fraudulently wrote 144 checks from the bank account of her employer to a personal credit card account, sometimes [...]
Sometimes it’s a spouse, girlfriend, relative, accountant, or business partner. Unfortunately, more often it’s a trusted, longtime employee who has an insider’s knowledge of your bookkeeping practices and access to your bank account. (read more about fraud in Dental practices)
We had a small loophole — we weren’t double-checking someone we trusted. She [...]