In some ways, a business lives or dies by its invoice methods. Consistent, efficient and trackable invoice management keeps businesses out of trouble, whether that means staying out of the red or avoiding unwanted attention from the law. But no business is perfect, and invoice payment issues do happen. They can be as simple as … Continue reading 3 Invoice Payment Errors That Often Slip Through the Cracks & Their Fixes

The accounts payable department may be the least favourite part of your business. After all, the last thing you really want to think about are the companies, service providers or lenders you owe money to. However, devising a strategy to keeping it streamlined and functional means fewer hassles. This is vital for your company’s data … Continue reading What Should You Continue Doing Or Change In Your Accounts Payable Process?

With the availability of software such as QuickBooks, Intuit and more, crunching numbers has turned into a far less complicated task. This goes for companies of all sizes, and even for people just looking to manage their own finances. However, accounting software comes with data limitations, which can be problematic for businesses of all sizes. … Continue reading How to Overcome Data Limitations of Popular Accounting Software

A duplicate payment is much more than an inconvenience or an annoyance. It costs money. According to one report, a small or mid-sized business could throw away as much as $12,000 a month due to duplicate payments. It’s fair to assume that the number is far larger for bigger businesses. It goes without saying that … Continue reading Double Trouble: How to Catch Duplicate Payments/Invoices

The thought of running “data analytics” for your business may seem like a colossal affair. The task may evoke the image of a worker hunched over in front of a computer, squinting their eyes and straining their brains to make sense of nonsensical numbers. In the context of data analytics for data accuracy, the process … Continue reading Why Running Data Analytics for Your Business’ Accounting Feels Overwhelming

It’s an unfortunate yet inevitable reality that some businesses will either dabble in or have to deal with fraud. Reports of accounting scandals, from family businesses to international corporations continue to make headlines. Worse yet, the trend shows no signs of slowing down. Infamous institutions such as Lehman Brothers and outlaws such as Bernie Madoff … Continue reading Infamous Accounting Scandals and the Analytics’ Lessons You Can Learn from Them

Since you stumbled on this article, you are probably considering data integrity software. Perhaps you want to resolve some issues with data entry. Or maybe your business occupies an industry where fraud runs rampant, and you want to do all you can to protect your organization. Regardless of the cause, you need to find data … Continue reading The Benefits of Choosing Data Integrity Software Wisely

When a news segment reports highlight an individual guilty of fraud, viewers tend to wonder as to what motivated the individual to commit the crime. For some, they conclude that the person had some deep-seated character flaw. For others, they believe that existing difficulties may have motivated them to commit the act. None of these … Continue reading A Look at How Technology Intersects With the Fraud Triangle

One of the great ironies in the corporate world are non-profit and charitable organizations accused of crimes. This rings even more true when that crime involves fraud. Although some organizations willingly engage in fraudulent acts, others are victims of unseen crimes committed by disloyal employees. Regardless of the cause, fraud within a non-profit organization is … Continue reading Data Analytics Can Help Save Your Non-profit Company from Fraud

Mixing numbers up in everyday life – such as dialing the wrong phone number – may cause nothing more than a minor disruption. In business, however, entering the wrong sequence of digits can lead to serious, even disastrous consequences. The technical term for accidentally switching the order of numbers (ie. entering “$4200” when the actual … Continue reading How to Spot Transposition Errors Now Rather Than Later