Audit Trail Accounting :How to Control Financial Fraud in Small Business with QuickBooks Accounting Software

One of the major challenges business owners face when making decision on whom to hire as an accountant is finding an honest and trustworthy person.

So easy and simple these character traits may sound in pronunciation, scientist are yet to come up with a tool to gauge such person or psychologists invent an hundred per cent integrity test.

On business newspapers, we see private and public enterprises posting billions of transactions declared missing in account and no single person could be traced to these significant transactions.
In these short tips, I want to show you how QuickBooks Accounting Software can help you control and reduce financial fraud and transaction manipulations.

This is not a total solution to financial fraud in business environment but a veritable tool for business owners to control and trace a person of questionable character in accounting departments.
There is special tool called AUDIT TRAIL in QuickBooks Software under Accountant and Tax menu.

What Audit Trail Does?
Audit trail is an already activated, exclusive and powerful QuickBooks fraud control tool which business owners use to view all the transactions changes whoever is assigned the duties of running the QuickBooks Software had made.
It specifies the date of the transactions, parties involved, charts of account edited and the amount if any.

This is how you can see the Audit Trail of your business.

Click Report on the QuickBooks menu, select Accountant & Taxes, and click Audit Trail.

Most times, these changes are accounted for via documents verification and management approval.
As a business owner, you should ask of documents that support these transactions before taking necessary action.

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Audit Trail only helps you to control your business transactions; hence, it is not an end but a means to control your business finance.