Back dating invoices

Posted by / 22-Feb-2017 02:57

Back dating invoices

The level of seniority required for approval should rise as the dollar amount increases.All financial statements should be backed up by general ledger reports or additional schedules.A supervisor should periodically review all key general ledger accounts for accuracy.

For example, the person responsible for bank reconciliations should not also receive payments from customers or prepare the bank deposits.Solid internal controls can also reduce losses from theft of company assets and identify underperforming employees.These controls should be implemented by the company before any financial information is given to external auditors, lenders or investors.Separating duties among different employees reduces the opportunity for any one person to commit fraud.It also creates double-check procedures to cut down on clerical errors.

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They require some degree of data mining and programming capability but are fairly straightforward to implement.

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  1. Even applications that claim to delete data after a specified period of time cannot secure compromising images or prevent data from being stolen.