CPA Practice

DECEMBER 22, 2023

Common examples include unauthorized withdrawals, transfer of funds to personal accounts, pocketing cash receipts, stealing petty cash and writing checks to fake vendors. Companies should also conduct regular reviews of AR aging and customer accounts, manual journal entries and vendor lists.

Expense Reimbursements 117

Expense Reimbursements payroll general ledger financial statements 117

Basis 365

FEBRUARY 1, 2024

In the complex world of business, a robust accounting system supports the foundation of financial clarity and control. Whether you're a small startup or a seasoned enterprise, building an optimal accounting system requires careful planning, strategic technology integration, and unwavering commitment to financial discipline.

accounting system 59

accounting system Account accountant accounted 59

Withum

JULY 20, 2022

Asset misappropriation, corruption, and financial statement fraud are the three fraud classifications that pose the greatest threat to organizations. Expense reimbursement schemes (11% of cases) – an employee submits and gets reimbursed for fictious or personal expenses via the company’s expense reimbursement process.

Expense Reimbursements 81

Expense Reimbursements financial statements public accounting Education 81

SMBAccountant

NOVEMBER 17, 2021

You would post the net pay to a labor expense account and the payroll taxes to a payroll expense account. This can include deductions for Social Security, Medicare, federal and state income taxes, health insurance, 401k, child support, expense reimbursements, and many others. Many do nothing.

payroll 130

payroll payroll tax income tax Expense Reimbursements 130

Basis 365

JUNE 15, 2023

The report further highlighted that bookkeeping, accounting, and billing schemes were among the most common types of occupational fraud, accounting for 22% of reported cases. Understanding Bookkeeper Fraud Bookkeeper fraud typically involves misusing financial information or assets for personal gain.

bookkeeping 52

bookkeeping Employee Expense Reimbursement Expense Reimbursements auditor 52

Pooley Accounting Services

APRIL 28, 2022

Project accounting can be difficult to manage, especially if it includes tracking billable expenses on the go. When employees travel to a client’s location to install software or equipment, transportation and living expenses are billed to the client. Getting employees to document their expenses can be a struggle.

quickbooks 52

quickbooks Expense Reimbursements Transportation bookkeeping services 52