Detecting fraud is not always easy, but a few simple clicks can uncover your lingering questions. An automated accounting system such as QuickBooks is essential for a small business. Here is a simple way to determine who has made changes to transactions. This could prove to be very important if you suspect fraud.
When setting up preferences for a QuickBooks company, the administrator should review the “General Tab, “select Company Preferences, and verify that the box is checked for “Save transactions before printing.”
If the box is not checked, printing a transaction and then exiting without saving is possible. In this situation, the Audit trail does not capture the event. That is why no one but the owner should be allowed to log in as an administrator. Each person who uses the data file should be given their own user ID and password, with restricted permissions according to the work they perform in the file.
This way, no one can override the preferences, and each user’s access is tracked in the Audit trail.
For more tips about detected fraud or utilizing QuickBooks, call LSL CPAs at 714.569.1000