Many businesses and nonprofits use QuickBooks® as a cost-effective solution to manage their accounting processes. However, the software’s capabilities extend beyond organizing and streamlining your company’s accounting. QuickBooks can also help you detect fraud. Here’s an overview of the software’s fraud detection and prevention features: Transaction audit trails QuickBooks creates audit trails that capture user activities. This can help your company identify unauthorized changes. The audit trail includes: The transaction date, The user’s name, and The type of change. Administrators can apply filters to audit log data that can help evaluate what’s happening and determine whether further analysis is
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Monthly Archives May 2023
Social Security’s future: The problem and the proposals
Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American politics and understandably so — the options for heading off insolvency will inevitably cause pain for significant segments of the population. Yet some in Congress have stepped forward with proposals that aim to tackle the problem. The impending shortfall Social Security currently provides benefits to more than 66 million recipients. The Congressional Budget Office (CBO) estimates that about 78 million people, or about 20% of the U.S. population, will receive benefits from the
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