#fraud-prevention
Fraud Prevention
Proactive strategies and controls to prevent financial fraud in your business
How to Spot a Fake IRS Letter: Warning Signs and What to Do
IRS impersonation fraud cost Americans over $114 million between 2013 and 2025, with average victims losing more than $32,000. Learn the 9 warning signs of a fake IRS letter, what legitimate IRS notices look like, and the exact steps to take if you receive a suspicious letter.
ACH Payments vs. Wire Transfers vs. Checks: Which Is Right for Your Business?
A practical comparison of ACH payments, wire transfers, and paper checks for small businesses—covering costs, processing time, reversibility, and fraud risk, with clear guidance on when to use each method.
Cash Receipts: What They Are, How to Record and Manage Them
Learn what cash receipts are, how to record them in a cash receipts journal with journal entry examples, common sources of cash receipts, seven best practices for managing incoming cash, and how proper cash receipt documentation keeps your business tax-compliant and audit-ready.
Forensic Accounting: What It Is and When Your Business Needs It
Learn what forensic accounting is, when your business needs it, how forensic accountants investigate fraud, common red flags for embezzlement, and proactive steps to protect your small business from financial fraud.
Petty Cash: What It Is and How to Manage It Properly
Learn what petty cash is, how the imprest system works, step-by-step setup instructions, journal entries for establishing and replenishing the fund, reconciliation best practices, and internal controls to prevent fraud.