Business-to-business subscription software firm AuditMyBooks has released Analyzer Ap, a new software application that helps small businesses scan their accounting transactions to detect errors, theft and fraud.
According to the Association of Certified Fraud Examiners (ACFE), companies with less than 100 employees represent more than 30 percent of all fraud cases in the United States.
Even when the possibility of fraud is remote, accounting errors can still be a potential problem for small and medium-sized businesses. Accounting experts claim the majority of errors result from simple bookkeeping mistakes or misapplication of easily understood accounting standards.
Analyzer AP from AuditMyBooks can be used regularly to analyze every accounting transaction in a matter of minutes much like security software that detects viruses and spyware. The sooner these irregularities are discovered, the sooner corrective action can be taken.
AuditMyBook requires no software to download and is secured and hosted on the Intuit App Center.
"When the owners of small and medium-sized businesses are the victims of financial fraud it can be truly devastating and many never recover," said C.P. Morey, vice president of product management for AuditMyBooks.
"I started my career as a Certified Public Accountant and I’ve witnessed this firsthand. The victim pays a high price because their trust was violated, they’re embarrassed because they did not know it was happening and then they learn the money was spent on gambling or drugs. Analyzer AP from AuditMyBooks can stop them from becoming yet another statistic."