Accounts Reconciliation Blog

You think that everything is running smoothly in your accounting department. All the numbers in the ledgers match and reconciliation is done for each department and matches. So why do you have this nagging feeling that something is not right?  If you are not watching your accounts payable department and checking that everything is on the up and up then your feeling might be right. Here are some simple ways to check to see if you need to get help.

Look for unusual invoice amount activity
If a vendor’s data is missing
Payments amount to vendors changes and are suddenly higher
A vendor with many canceled checks.

One of the accounts payable best practices is to cross reference the addresses, zips and phone #s on the invoices with that of the employees handling the accounts payable.
According to and economic crime survey smaller businesses have a far greater proportion of economic crime. This has been discovered through audit processes. By doing regular audits you can catch criminal activity early or prevent it.