AuditMyBooks™, the creators of software that helps organizations protect their money by double checking QuickBooks for mistakes, is pleased to report that Not-For Profits across the U.S. are using AuditMyBooks Analyzer™ to provide financial oversight to their organization’s members, sponsors and board without burdening the staff’s busy schedules.
C.P. Morey, VP of Products at AuditMyBooks said, “Although we built Analyzer for small businesses, Not-For-Profits are seeing the value as well. Some of our newest users include organizations like the Mitchell Area Community Theatre, St. Philip's United Methodist Church and Surgical Eye Expeditions.”
Accounting errors and fraud are as common in Not-For-Profit organizations as they are in businesses. Experts claim that 60 percent of errors result from simple bookkeeping mistakes or misapplication of easily understood accounting standards, and the Association of Certified Fraud Examiners (ACFE) estimates that Not-For-Profit organizations represent more than 10% of all fraud cases in the U.S. ACFE research also shows that Not-For-Profits suffer median fraud losses of nearly $90,000 per occurrence.
Morey added, “Analyzer can do in minutes, what takes hours manually. Since most of the folks at Not-For-Profits are volunteers, the time savings are a real value.”
Estimates have shown that it can take as long as 60 minutes to manually review 100 transactions. AuditMyBooks Analyzer uses technology similar to anti-virus software to scan accounting transactions for common problems. Because scans can be completed in minutes, users can review files for more regularly. The sooner potential problems are discovered, the sooner corrective action can be taken to address them.
AuditMyBooks™ (auditmybooks.com) is a cloud based software company that helps small and medium businesses automatically double check their accounting records for errors and possible fraud. Designed to work with QuickBooks, the #1 small business financial software, AuditMyBooks Analyzer™ products are available in the Intuit App Center. Analyzer™ requires no installation and data security is provided by Intuit.
AuditMyBooks™ is led by a team with extensive experience in statistics, financial auditing, accounting systems and information security. They saw a market need for a cost effective and easy-to-use solution that helps businesses identify suspect financial transactions to proactively reduce business risk. Drawing from techniques successfully used to detect information security threats such as viruses and spyware.
AuditMyBooks™ helps businesses protect their resources and ensure their financial data is reliable for decision-making and reporting. Based in Atlanta, AuditMyBooks™ has earned awards from Intuit, the National Science Foundation, the Technology Association of Georgia and The Sleeter Group.
The AuditMyBooks™ and AuditMyBooks Analyzer™ names and trademarks are exclusively licensed to AuditMyBooks, LLC. Intuit, the Intuit logo, and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.