5 powerful techniques for minimizing the problems that crop up when you've got people with varying levels of skill and trustworthiness working with your QuickBooks data. Based on QuickBooks 2014 All-in-One For Dummies by Stephen L. Nelson and published by Wiley. For more info, visit: http://bit.ly/1tXG7um

1. 5 Accounting Controls
for QuickBooks
From QuickBooks 2014 All-in-One For Dummies
It Works.

2. 5 powerful techniques for minimizing
the problems that crop up when you've
got people with varying levels of skill
and trustworthiness working with your
QuickBooks data:
It Works.

3. 1. Regularly compare physical
inventory counts with inventory
accounting records.
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4. 1. Regularly compare physical
inventory counts with inventory
accounting records.
Frequently counting the most valuable
and easiest-to-steal items accomplishes
two things:
1. Inventory shrinkage is quickly identified.
2. The business owner can minimize inventory
shrinkage by identifying the type of inventory
that's most often stolen or even when inventory
is most often stolen.
It Works.

5. 2. Reconcile Bank Accounts
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6. Employee theft by accounting personnel occurs
as employees figure out how to write checks on
the company's bank account that the owner
doesn't see.
One sure way to find a fictitious and fraudulent
transaction is to have the owner reconcile the
bank statement.
Any flaky, suspicious transactions tend to become
obvious when the business owner looks closely at
checks.
It Works.
2. Reconcile Bank Accounts

7. 3. Segregate accounting from
physical custody where possible
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8. In a small business, it's not always easy to separate the
accounting for some activity from the physical custody
or physical responsibility for that activity.
Wherever you can segregate physical custody from
accounting, built-in error checking occurs.
3. Segregate accounting from
physical custody where possible
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9. 4. Train employees in the
use of QuickBooks
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10. Train employees to use QuickBooks if you
have a business of any size, for two basic
reasons:
1. Someone who knows how to use QuickBooks is
less likely to make inadvertent errors
2. Messy accounting records camouflage
employee theft.
4. Train employees in the
use of QuickBooks
It Works.

11. 5. Close your QuickBooks file
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12. 5. Close your QuickBooks file
Closing the fiscal year in QuickBooks is not
required but is still a good idea to maintain
the integrity of your data.
Once you close your fiscal year, Quickbooks
prohibits or limits users from changing or
entering transactions dated before the closing
date.
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13. 5. Close your QuickBooks file
How to close your fiscal year:
When QuickBooks prompts you, specify a closing date
and password.
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Choose the Edit/Preferences command, select Accounting,
select the Company Preferences tab, and then click the
Closing Date Set Date/Password button.

14. QuickBooks 2014 All-in-One
For Dummies
by Stephen L. Nelson and published by Wiley.
Pick up a copy today!
www.dummies.com/buy/9781118720080
Pre-order Quickbooks 2015 For Dummies
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