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How to Avoid Bookkeeping Fraud in your Business

 

 

How to Avoid Bookkeeping Fraud in your Business

The average employee thief has worked with the company for four to five years and that nine in 10 are first-time offenders, reports the Association of Certified Fraud Examiners.

During recruitment, employers have no screening method that can be used to spot potential fraudsters. The only way to avoid bookkeeping fraud is to put in place internal controls to dissuade, prevent and detect fraud attempts. This is a three-step flow internal control mechanism to avoid bookkeeping fraud. 

 

Avoid Manual Accounting Processes

Businesses with good financial records rely heavily on automated accounting processes to streamline financial transactions from end-to-end. Best practice, use accounting systems with strong security controls to avoid unwanted intrusions. Most of these solutions provide great financial reports and audit trails which gives insight into your financial health as a business. Multisoft Solutions supply and implement robust accounting systems for varying company in different industry segments. The solutions come with strong security controls. Learn more about Accounting systems

 

Avoid One-Man Job Responsibilities 

To ensure proper checks and controls in your finances, avoid the “money guy or lady” accounting approach. Many small and midsized business have single individuals performing all critical accounting tasks—from paying bills, preparing financial statements, issuing paychecks and bank deposits. This is a non-starter as a small business as it creates a one-man manager and could lead to fraud that can go undetected for many years.

As a multiple business management solutions provider, we advise that every financial transaction should go through at least two stages manned by two employees. One for collecting or making payments while the other reconciles the books and ensure accurate financial reports on the transactions. Companies with lean teams may struggle with this approach; however, with the support of Multisoft solutions’ excellent outsourced data entry & bookkeeping services, you can be assured of accurate bookkeeping and streamlining on financial controls so your employees focus on delivery on your core business mandate. 

Multisoft Solutions delivers excellent Accounting support services.

Learn more about accounting support services.

 

Adapt Best Reporting Standards and Processes    

Set clear reporting schedules and internally assign a senior management team member to review all financial reports and processes periodically—it could be weekly or monthly. This will ensure proper checks and reduce the risk of fraudulent attempts such as false entries. This Manager does not necessarily need any skills in accounting auditing. He/ she simply needs to compare account payables/receivable receipt and invoices against the amounts entered in the books. He/she will then cross-check both figures against cash in the bank.   

 

Send us a mail for more tips on accounting management for your business. 

sales@multisoftgh.com or call us +233 (0)302 235149

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Outsource your payroll to Multisoft Solutions Limited

Outsource your payroll to Multisoft Solutions Limited today
Experience real value, contact Multisoft Solutions for your payroll needs
#multisoftsolutions
+233 (0) 302 23 5149 | +233 (0) 302 247736
www.multisoftgh.com | www.multisoftgh.com/blog | sales@multisoftgh.com

#business #software #outsourcing #payroll #payrollservices

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Employment Opportunity

Employment Opportunity

A reputable Company with specialty in providing Business Software Solutions to a variety of clients ranging from SME’s to larger enterprises is seeking to recruit people who will train to become Accounting Software programmers.

WHAT WE LOOK FOR

  • Basic programming knowledge
  • A good first Degree in Computing with Accounting
  • Must have completed National Service in August 2018 and not earlier
  • Not more than 24yrs
  • Good interpersonal skills
  • A good composure under pressure

WHAT WE OFFER

  • A structured training program covering the core knowledge base of our software solutions
  • An interaction with a variety of clients
  • Competitive remuneration

HOW TO APPLY

Send application and CV to recruit2019L@gmail.com

Deadline is 30th April 2019

Only short-listed applicants will be contacted.

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TODAY IS NOT WEDNESDAY – ITS WORLD HAPPINESS DAY

TODAY IS NOT WEDNESDAY – ITS WORLD HAPPINESS DAY

March 20 is the International Day of Happiness and this year’s theme is Happier Together, focusing on what we have in common, rather than what divides us.

Everyone wants to be happy – and life is happier when we’re together. So let’s celebrate our common humanity. Join the community and be part of this special day.

Source :  Dayofhappiness

Let’s progress discussions on this topic:

0302 235 149/ 0302 247 736

sales@multisoftgh.com

www.multisoftgh.com

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Get the Information You Need Just When You Need It.

 

Get the Information You Need Just When You Need It.

Sage Enterprise Management provides a large set of features enabling users to analyze data in a self-service manner and to take the right decisions. Realtime analytics, alerts, and notifications empower each role in your organization to respond quickly to changing business conditions.

Reporting and Analytics     

  • User-defined dashboards based on trigger events
  • Configurable inquiries on any data table, with automatic or manual joins, sorting and selection
  • Inquiries to search and filter predefined data collections using a variety of prebuilt parameters
  • Requesters define a data view by selecting from the available fields in one or more database tables
  • Audit trail from cumulative total to detail
  • Library of over 400 reports supplied as standard, including legal reports
  • Automatic printout triggering and generation of Word, Excel, text, HTML, or PDF files

Sage Enterprise Management Data & Analytics provides users with a hub for managing all data from multiple sources, and built-in data models for reporting.

Sage Enterprise Intelligence helps business users reduce time spent on analysis and reporting

Advanced BI powered by Business Objects is designed for customers with very large data volumes or specialized reporting needs

Enterprise Management Financial Reporting Overview

  • Ability to design, distribute, and consume reports through a
  • common Microsoft Excel interface, with the sweet spot being on
  • financial reporting
  • Report on data from most external systems (ODBC-compliant databases)
  • Versions available for on-premise and online customers

 

Contact Multisoft Solutions today for further engagements.

 

Email: sales@multisoftgh.com

Hotlines: +233302235149/ +233501285732

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Strengthen Customer Relationships and Loyalty with a Single Application

Strengthen Customer Relationships and Loyalty with a Single Application 

 

 

 

To grow your business, you need to devote time to more important things than piecing together information and operational details from disparate business systems. If your sales, accounting, and operational systems are not integrated, your productivity inevitably suffers. When you must search for critical business information such as customer records or inventory levels in different locations, you can’t make timely, sound decisions and meet customers’ needs quickly 

 By integrating all critical business functions, SAP Business One supports sales, customer relationship management(CRM), purchasing, inventory, operations, financials, and human resources. Business information captured in a single system is instantly accessible across the organization, eliminating duplicate data entry along with related errors and subsequent costs. Workflow-based alerts trigger auto-response when important business events occur, so you can monitor and focus on those that are most critical 

Freed from constantly reacting to day-to-day minutiae, you can spend more time driving your business forward. 

 Streamline Your Entire Business  

 SAP Business One enables you to manage sales, customer service, and support – all integrated with other business functions across the company. With the service call component in SAP Business One, you can effectively respond to customer service and support calls and find resolutions more quickly. Detailed service reports related to call volumes, durations, and response times allow you to assess progress and take necessary actions. With SAP Business One you can also analyze customers using data from sales, operations, and finance to identify. 

 Act on Instant and Complete Information 

SAP Business One captures critical data across sales, customers, operations, and financials in a single application for immediate access and use. With the addition of the fully integrated Crystal Reports® software, it delivers compelling reporting functionality and information access that give you crucial insights into all parts of your business. With “drag-and-relate” and interactive drill-down functionalities, you can click through relevant data and get answers quickly. Employees can respond to customer needs faster, and your managers can track revenues, costs, and profit margins so they can assess business performance and determine how to improve it. 

 

Contact Multisoft Solutions today for further engagements. 

Email: sales@multisoftgh.com 

Hotlines: +233302235149/ +233501285732 

Follow us on: 

Facebook I Twitter I LinkedIn