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Forensic AccountingIf you run your own business, you will know that along with the benefits, there are certain risks. With dealings with clients, employees and even the IRS, there may arise a time where you may find yourself and your company in need of forensic accounting and small business accounting software which can handle the changes involved..
Get help with any potential legal problem
Forensic accounting is an investigative analysis of your business from an accounting and financial position. In the case of audits, lawsuits or other legal matters, it is a means of collecting information for courts and determining the accountability of your financial records. It deals with the gathering of financial evidence by which the court will raise questions regarding your company’s activities.
While the Accounting Software Group hopes that your company never has to go through any legal battles, we know it is a possibility. That’s why our accounting software systems are designed with full financial accountability in mind. While we hope that our accounting software package can help in any way to avoid audits and legal battles, should they arise, our software can track anything relevant to help you provide all the necessary data to the courts alleviating the stress and time of having to find all the information required.
Forensic accounting can help you save money
Alternatively, forensic accounting can be used to evaluate the efficiency of your company’s financial practices. Our accounting software program can make your own internal forensic accounting that much easier. You can keep detailed tracking on all costs incurred and pinpoint loss due to mismanagement or internal theft.
One may not think it to be the case, but small businesses are the most susceptible to internal fraud. Small businesses typically do not have to man power or resources to hire specialists in every area of your business. As a result, employees may be asked to handle a number of duties not all of which her or she may not be qualified of experienced to do. The problems that arise here are numerous.
First, with lack of proper training, mismanagement can occur. Second, one person handling so many tasks lacked the accountability that keeps internal theft in check. What could be obvious fraud to an experienced, or specialized eye, may go unnoticed by someone who as their hands in an number of duties. Third, with that same person having access to so many levels of the business, it is easier for them to cover their tracks in the cases where they are personally responsible for the theft.
For the small business that cannot afford an internal forensic accountant or auditor, our accounting software system can help pinpoint such activity for a fraction of the cost. Our accounting software perfectly fills the role of forensic accounting for smaller businesses. Our accounting software is tamper proof, making is difficult for fraud perpetrators to cover their tracks, and it can help make internal loss glaringly obvious. Small businesses have less areas to cover than larger businesses and any major changes in your monthly budgeting stand out. From there a small business should have little problem finding out where the loss is coming from. After all, the most difficult part of stopping internal theft is to first know that it is actually happening.
For all your forensic accounting needs, keep the Accounting Software Group in mind. Studies show that the average small business incurs an average loss of over $100,000 a year due to internal theft, profit that you cannot afford to lose. If you cannot hire a forensic accounting, then our accounting software package is for you. Not only is our accounting software perfect for managing your finances, it has the added bonus of potentially saving you tens of thousands of dollars preventing internal theft.
To help stop internal fraud through forensic accounting,
contact us here, or try our free demo here.