This service is designed to give you, as the Practice Owner, total control over all aspects of the bookkeeping processes within your business. It will equip you with the assurance that your bookkeeping practices minimise the risk of fraudulent activities (or embezzlement) while working to maximise profit.
Vanessa Chappell will work alongside the practice owner initially (and then the practice manager or bookkeeper) to ensure best practices of bookkeeping are being undertaken. This consultancy service can vary from as little as a few hours to a number of days depending on the depth of knowledge and skill the practice owner would like to achieve.
Features of this service include:
- Becoming confident in reviewing a Profit & Loss Statement & Standard Balance Sheet
- Checking the MYOB file for any discrepancies or fraud from supplier invoices and payments
- Understanding employee entitlements and pay structures within MYOB
- Advice on avoiding embezzlement (including setting up authority on bank accounts, payment of invoices, management of petty cash and daily takings)
- Improving efficiency with using the latest software updates (including bank feeds, electronic payments, ‘In Tray’ for scanning invoices and SuperStream payments for superannuation).
Merely establishing simple internal review processes can help reduce the likelihood of fraudulent activity.