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One reason why you should outsource your bookkeeping
It is simple. The number one reason you should outsource your bookkeeping is due to fraud. The newswires are full of stories detailing the significant losses to businesses because of fraudulent bookkeeping activities. In today’s local newspaper’s online feed, a story identified a local business with an internal employee stealing $147K from the professional practice. […]
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Why your bookkeeping practice needs an automated solution
Today, most bookkeeping is performed by humans, but with the advent of AI (Artificial Intelligence) and RPA (Robotic Process Automation), the future of bookkeeping is changing very quickly. Computers are taught how to perform bookkeeping tasks, …and they do them quickly and without error. Oh, and it is incredibly secure. Automated bookkeepers can now “read” bills and […]
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Preventing Fraud in an SMB using bill payments control
Fraud is something that most small business owners don’t like to think about and often think, “That can’t happen to me.” However, as we’ve previously discussed, it happens far more often than business owners would like to admit. In small businesses, fraud is the result of lack or absence of controls, which are exploited by […]
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A client’s tale of bookkeeping challenges
Simply stated, we learn from each other. Open and honest discussion between business owners provides real life tales of running a small business. At Expex, we work within the small to medium sized business communities. Bookkeeping is such a critical function for a business, yet it is so often overlooked and under reviewed. Our story […]
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Fraud and the small business owner.
In a recent article published by The Hartford on Small Biz Ahead, the author writes about fraud and employee theft in small businesses. Here are some of the statistics quoted in the article: “Here are some sobering statistics for small business owners: 75 percent of employees admit to stealing from their employer at least once, and 38 percent say they have […]