In some small businesses, the risk of fraud is low or even non-existent. Still, accounting errors can potentially be a big problem. One small mistake in recording a payment from a customer can lead to underpaid sales taxes ultimately resulting in unnecessary penalties and interest charges. Approximately 60 percent of accounting errors result from “simple bookkeeping mistakes or misapplication of easily understood accounting standards," according to recent research by Indiana University.
Call Us: 877-292-9684
Efficiency Adds Up Accounting Errors Fraud