New Software Fights Small Business Fraud

Cyber Security, Cyber Threat, Cyber Crime, hacking, hackers

Due to the lack of resources necessary to effectively protect themselves, small businesses lose nearly $630 billion to fraud each year and are almost twice as likely to experience internal fraud as larger organizations. To help protect small businesses against occupational fraud, Certified Fraud Examiner Julie A. Aydlott created the Vitalics Internal Control Application, a new desktop software specifically designed for small business fraud prevention. Compared with large publicly held companies, there are no standards like the Sarbanes-Oxley Act that govern internal controls and certify financial accuracy for small businesses. At the same time, small business owners do not have the budget or resources to develop and implement their own auditing and fraud prevention systems. Furthermore, despite the need for protection, there are very limited tools available to small businesses to counter fraudulent activities. [How Companies of All Sizes Can Prevent Fraud] Instead of putting a business at risk, the Vitalics Internal Control Application provides an affordable way to help avoid costly mistakes and fight employee theft. Using Vitalics, small businesses can review financial records, implement bookkeeping controls and provide fraud education to their staff.
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The Best Free Small Business Accounting Software

Examples of Automatic Journal Postings Sales Sales Tax Business Management Systems and Inventory Control Depending on the type of small business, a good management system should be able to keep track of product inventory. In a service related business the system should be able to track service charges or labor sales. Since it all starts with invoicing the product should be automatically deducted from inventory by part number or product code when an invoice is created. Some other considerations for inventory control by product code or part number may include: Automatic deduction from perpetual inventory At least 12 months of sales history by month Bin locations Ability to perform physical inventory counts Product fields like pricing, descriptions etc Business Accounting Software and General Ledgers Management system software should have good general ledger flexibility. It should allow the entrepreneur to create general ledgers as needed for easier analyses of financial statements. The system should automatically post from the journals to the general ledgers and then on to the financial statements. Accounting Software and Payroll Considerations Many businesses use a separate service for payroll. Incorporating payroll into a small business management system can result in some savings versus the expense of a payroll service. If payroll is incorporated into the bookkeeping software, make sure that all payroll transactions automatically transfer to the general ledgers. The payroll software should be able to automatically figure various payroll tax deductions as well. Some of these recommendations for a checklist are generalities. There may be other considerations that may be unique to a particular business.
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50 Online Invoicing Apps for Small Businesses

Zoho Invoice (Free, 4 stars), a member of the Zoho software family, is also a very solid selection with its well-designed interface, many import options, and custom fields. Outright (Free. 3.5 stars), like Zoho Invoice, has an intuitive interface, but builds upon that by giving users the ability to download credit card transactions. At the back of the pack are Billing Boss (Free, 2.5 stars), Intuit Billing Manager (Free, 3 stars), and Wave Accounting (Free, 2 stars). These applications may not have scored the highest marks in our in-depth reviews, but they can prove valuable to the small business owner who wants to handle the accounting basics on the cheap. If you're looking for small business accounting software that's simpler and cheaper than QuickBooks Premier Edition 2011, check out the links below for in-depth reviews of six free alternatives that can save you cash and keep you from spending the majority of your day face-down in an instrument manual. And don't forget to check out our roundup of the best small business accounting software . Starting at $79 first month, $39/month thereafter QuickBooks Premier Edition 2011 and its more junior versions offers a superior blend of accounting tools, usability, and integration, but its size, and price, may prove overwhelming. Billing Boss Free Everything the product does right (no cost, simple interface and navigation, collaboration, etc.) is tainted by the fact that users must do (and redo) a lot of unnecessary data entry as they create invoices. It's recommended only if you want to retire your clunky credit card terminal for the convenience of your smartphone.
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Safaricom unveils online business software for SMEs

The solutions will allow SMEs access to a website, professional email, human resource payroll software and accounting software at competitive prices. Safaricom Business General Manager Sylvia Mulinge says that the new offer will make it easier and affordable for SMEs to professionalize data management. She highlighted that the new proposition offers businesses the option of choosing the specific suite of services they require based on the individual needs. Software as a service is a solution that will provide SMEs with an affordable, safe and secure method of storing and managing their data. Presently, many SMEs find the cost of data management such as the purchase of genuine software and servers as well as the hire of professionals prohibitive, she said. She said that users will only have to pay for the solutions according to the specific needs of the business. Users will also be able to access the services wherever they are through the internet hence affording them flexibility in managing data, she said. The accounting software; Sage Pastel, will allow SMEs to generate professional financial reports which they can use to borrow loans from financial institutions. The payroll solution; Clean Bill, will ease and professionalize payroll management by automatically tabulate all statutory deductions from the employees and keeping relevant records. To access the new service, businesses will pay a monthly fee of Sh870 for the on-line payroll processing software, Sh1,740 for the accounting software and Sh1,750 for professional email. Website hosting will cost Sh999 for a full years subscription.
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Small Business Accounting Software

Make this the year you get your invoices online and done with less hassle by using Web-based technology. UPDATED AS OF MAY 2011: Weve now updated this post 17 months after the original publication date. Weve added more solutions based on reader suggestions. And weve updated the original information to reflect changes in pricing. Here are 50 small business online invoicing software applications to help you manage sending your customer bills out and do it with less labor and at a reasonable cost. In some apps, I state approximately because Im converting the rates into U.S. currency and thus the monthly fee might fluctuate slightly. There are 21 new additions and one removed from the original 30 (it went out of business). * * * * * AcceptPay is a new electronic invoicing service from American Express. The full version AcceptPay is $30/month and integrates with QuickBooks, accepts online payments, ACH, and eChecks. I was impressed to see American Express entering this marketplace and putting some of their muscle into an online invoicing and billing solution. (Note: American Express is a sponsor of this site.) Ballpark is an online invoicing service that believes the key component of any customer relationship revolves around communication. So, their dashboard tracks the back and forth dialogue between you, your customer, and your team. They offer a free personal plan and the small biz plans start at $6/month. BambooInvoice is a free open source invoicing software for small business and independent contractor types.
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6 Factors to Consider When Selecting Accounting Software for Your Small Business


There are a number of options on the market and it can be overwhelming choosing the best one for you. However, the factors outlined below apply to the majority of small business owners and should be considered when shopping for an online accounting program. 1. Ease of use User-friendly online accounting software presents you with a straightforward dashboard that provides a snapshot of your companys financial health immediately upon logging in. The dashboard even highlights your key accounts so you can quickly gain insight into how your business is performing. You should then be able to drill into the dashboard and perform basic accounting functions with only a few clicks. There is no need to spend valuable time customizing an invoice for a specific client or to get caught off-guard by a suddenly-due bill. Your software should simplify your bookkeeping so you can quickly perform essential tasks. 2. Integrates with other tools Every business is unique and uses a plethora of tools to keep things running smoothly. Its likely that you use different applications to manage your various business operations (perhaps an e-commerce platform, a CRM system, or job tracking).
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