Kansas City Business Journal, 3 Simple Fraud Prevention Tips. November 28, 2014.
One of the biggest frauds perpetrated against small businesses involves billing. An example: A bookkeeper sets up a fictitious vendor and sends real checks there that he/she can cash.
If you eliminate the bookkeeper from the payments system, you eliminate a huge fraud risk. New cloud-based systems aren’t super expensive, typically costing about 10 to 12 cents a transaction. They also give the owner easy control and supervision.
Nicole Eshnaur CPA, MBA, CGMA provides insight to the Kansas City Business Journal about how to help prevent fraud within your company by utilizing cloud accounting.