Internal Controls

One of the principal liabilities for a business is preventing fraud. Internal controls are necessary for fraud prevention, and they ensure that your business stays compliant with laws and regulations. Internal controls encompass the procedures you set to circumvent fraud or errors and processes aimed to detect those discrepancies. Our team of professionals at Connect Business Solutions, LLC are trained and experienced in creating internal controls that will help your business with overall efficiency, compliancy, and accountability. We can help identify weaknesses in your internal controls along with helping you streamline your processes by forming healthy separation of duties. Having separation of duties is an issue that many small businesses struggle with due to lack of workforce or over assigning control to one person. Our specialists can also help with other internal controls such as monitoring activities, collecting information, consistent communication, risk assessment, and control activities to uphold the integrity of your internal controls.

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Internal Control Success with Connect Business Solutions, LLC

We had a client who was experiencing discrepancies with undocumented ATM withdrawals being made by an employee. Though these withdrawals were for vendors, there were no invoices or work provided to back up the transactions. Our accounting team developed an internal control system for monitoring transactions and facilitating accurate financial information. By requesting invoices or agreements made with vendors we can ensure that payments are being accurately tracked. This internal control system allows us to quickly catch any unauthorized transactions and communicate immediately upon finding them.

We understand that every business has different strengths and weaknesses, our experts can tailor a system that will optimize your internal controls. With the right internal controls processes, we can help you prevent fraud along with secure strong corporate governance.

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Microsoft Business Central

Connect Business Solutions, LLC specializes in Microsoft Business Central, a business management software designed to streamline your business processes by automating procedures and making it easier for you to manage your foundational responsibilities. Microsoft Business Central offers features that support our team in improving your accounting processes and internal controls. With these features, we can help take a snapshot of your business utilizing comprehensive reporting features with easy-to-understand dashboards to help you visualize what is currently happening in your organization’s accounting so that you can make better decisions with your finances.

Connect Business Solutions, LLC

Accounting is a pillar of foundation for your organization, the accuracy of your financial records is integral for your business to stay compliant with current laws and regulations. Connect Business Solutions, LLC is happy to provide you with peace of mind with the help of our specialized accounting professionals who have several years of experience in all facets of accounting. You can trust us to understand what your company needs are and manage it for you so that you can focus on growing your company.