Accounting Software - The importance of an accurate and reliable Audit Trail

Protect your business by using Accounting / Business Management Software with a proper Audit Trail

Author: mrt/Thursday, 3 January 2013/Categories: Business Management Software

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Most Accounting Software Solutions have an Audit Trail. The Audit Trail is typically a list of all your accounting transactions with a Transaction number that is allocated to each transaction. This numbering system keeps your account transactions in the natural order of your data entry and provides a unique identifier.

Unfortunately not all Audit Trail systems are efficient or effective. Many entry level accounting programs have a maintenance area that allows the editing or deletion of transactions that you or your employees have entered.

A maintenance function is very handy for small to medium business but many of these systems fail because they do not record the changes or deletion that is made. It’s essential that you can identify what changes have been made to your data entries. Worst of all these systems provide the ability for corrupt employees to make changes to your transactions and even steel money from your business. A good audit trail can highlight this type of criminal activity.

The good news is some Accounting Programs offer the best of both worlds, Maintenance to easily fix up incorrectly entered transactions and are cord of the modified / deleted transactions and who made the changes.

In summary you want an accounting system that uses a logical numbering system associated with every single transaction you have entered. If the software enables changes or the deletion of transactions already entered make sure it records the change in the Audit Trail and which employee has made the changes.

Here is a couple of Accounting / Business Management Programs that feature a solid Audit Trail that you may like to consider.

Sage 50 Accounts Pro Accounting Software
Sage Pastel Evolution Accounting Software

 

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