Bookkeeper Fraud Tip

My company also does accounting work for small businesses by supplementing their in-house bookkeeper, it’s a very economical way to keep the books straight, and saves a ton on CPA bills. One thing I always like to do to watch over their operation is to show the owner what to analyze to keep the bookkeeper honest. One very easy thing for instance in QuickBooks is a report called Expense by Vendor. It lists all the vendors and how much was paid to each. It’s under company and financial in the reports menu. Look for vendors you’ve never heard of or the names of individuals. Ask questions, look at the detail behind ones that don’t seem right.