Crime doesn't pay, but internal control might!

Imagine the heart ache for everyone who knows this fellow...
CRA fines bookkeeper for taking over $100,000 from employer.

This is one of the prime reasons small business's need internal controls.

Not everyone that works for your business is as honest as you'd think.The business owner has to protect themselves by setting up internal controls.  Rules about who does what, for example would have prevented this bookkeeper from taking these funds. 

The rule is simple, it's called segregation of duties and what's required is a procedure to ensure the person who reconciles the bank shouldn't be the one signing cheques. 

To learn how to build internal controls into your business books, check out my video series on Mastering QuickBooks Software!