FRAUD CONSIDERATIONS
Audit Trail
In order for the audit trail to be useful, each user must have his or her own set of credentials, and those credentials must never be shared.
1.The audit trail report is in Reports > Accountant & Taxes > Audit Trail
2.For any transaction that you’re viewing, you can also quickly see who entered/last modified it by doing the following: Ctrl+Y (transaction journal) > Customize Report > add “Entered/Last Modified” and “Last Modified By” columns to the report > OK
Voided/Deleted Transactions
1.Reports > Accountant & Taxes > Voided/Deleted Transactions Detail
Then apply any filters relevant to your situation, if needed.
Reconcilation Discrepancy
1.Reports > Banking > Reconcilation Discrepancy
This report shows transactions whose amounts have been changed since being reconciled.
AUDIT CONSIDERATIONS
The Attached Documents feature is one of the best features of QuickBooks that makes it audit-friendly. On nearly every data entry screen there is a paper clip. If you click it, you can attach a document to the transaction and therefore provide the third-party backup for that transaction.
Examples include:
1. .pdf scanned copy of a vendor bill
2. .jpg screenshot of the confirmation of a bank transfer
3. .xlsx workpaper for a revenue recognition adjustment
4. .pdf of a signed inventory count, attached to the adjustment transaction
For further information visit our Website: Quickbooks Solutions
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