Clerk Accounts Payable Question:
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Explain how to detect frauds from “Invoices that don’t have cents”?
Answer:
Many attempts at fraud are done using invoices with rounded values ($9,500.00 vs. $9,483.32). If a particular vendor requests payment for a larger number of rounded invoices this is worthy of further investigation.
While these checks are not exhaustive, they provide the basis for minimizing the risk that your company will accidentally make payments of $8 million!
While these checks are not exhaustive, they provide the basis for minimizing the risk that your company will accidentally make payments of $8 million!
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