article thumbnail

Use Payroll Reconciliation to Record Your Books Accurately

Patriot Software

As a small business owner, payroll is one of your biggest expenses. You need to make sure you run payroll and record it in your books correctly every time. Check your general ledger entries with payroll reconciliation for accurate accounting and payroll records.

payroll 52
article thumbnail

Internal Controls To Prevent and Detect Fraud at Small To Medium-Sized Not-for-Profits

Withum

Implementation of a dual signature on checks and bank signatory limits Subscription to ACH filter and Positive Pay through the banking institution, if those services are offered Independent review of bank reconciliations by someone not involved in the process of recording transactions Provide an individual outside the accounting department (for example, (..)

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Payroll Auditing 101 for Trustees of Multiemployer Plans

Withum

Payroll Audit Basics for Trustees. Payroll compliance audits perform a central role in this regard. Level Playing Field: payroll audits help trustees differentiate problematic employers from the rest. In these cases, they should direct the payroll auditor to test employers with known or suspected delinquency issues.

payroll 64
article thumbnail

Benefits of Matching Financial and Non-Financial Data

Withum

With all these different funding sources, it is imperative that healthcare-related not-for-profits have a general ledger system that can support both financial reporting and operational efficiency. A general ledger system is a software application that records and summarizes the financial transactions of an organization.

article thumbnail

How to Recognize and Prevent Five Common Forms of Occupational Fraud

CPA Practice

In addition, as with all forms of fraud, segregation of duties and oversight of individuals with access to the general ledger are key to mitigating manipulation. Payroll fraud This type of fraud occurs when a person is inappropriately compensated for work or services they did not perform.

article thumbnail

ADP Enhances QuickBooks Payroll Integration

PYMNTS

Payroll technology firm ADP is strengthening its integration into Intuit ‘s QuickBooks platform, the company said Thursday (Nov. That deal sees employees able to access their wages more quickly, with Ingo providing push payment technology for workers to use their mobile phones to cash checks or load funds to ADP payroll cards.

article thumbnail

Inova Payroll Targets Hospitality With API Integration

PYMNTS

Payroll solutions provider Inova Payroll has debuted an application programming interface (API) integration with M3 , an accounting and human capital management (HCM) platform developed for the hospitality industry. Other areas of payroll and human capital management are exploring the benefits of API integrations, too.