Internal Controls

Bookkeeping Internal Controls March 15, 2019 Written by Teresa Oliver What are they and why they matter to your business? Internal controls are the mechanisms, rules, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability and prevent fraud. Besides complying with laws and regulations, and preventing employees from stealing assets or committing fraud, internal controls can help improve operational efficiency by improving the accuracy and timeliness of financial reporting. https://www.investopedia.com/terms/i/internalcontrols.asp There are a few internal control violations SMB's continuously make; like having their office manager handle all their back-end, having little to no…

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Bookkeeping Automation………NOT!

Bookkeeping Bookkeeping Automation………NOT! March 11, 2019 Written by Teresa Oliver Business owners! Do not be persuaded by the glossy images and comedic videos trying to get you to sign up for “automated bookkeeping”.  It does not exist and will NEVER exist. Yes, companies that are trying to sell this farce; Bookkeeping can NEVER be automated!  Why, because bookkeeping is wholly dependent on the company you are doing the bookkeeping for.  Companies’ spending habits, processes and overall running of their business is an emotional journey.  Automation can never take the place of human emotions.  How will AI know if a purchase from…

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