Your humble blogger, hard as it is to admit, can be a stubborn fellow when learning a new video game….
The accounts payable section of our business is typically strenuous on our eyes and minds. After a few hours, numbers begin to switch places, things go missing, and we feel like we are losing our minds. A perfect example of why transposition in the most common accounting error. A switch between two digits can cause hours of confusion and miscommunication. Today we’ll be going over the most common mistakes made in accounts payable.
Employees and outsiders may be taking advantage of your weak internal control system for your accounts payable to siphon extra money off the top. We’ll explain the downsides of a weak internal control, how to identify these problems, and how to make your internal control system even more effective.