tag:blogger.com,1999:blog-6316913927894195325.post7232211435136753817..comments2023-04-05T05:06:07.769-07:00Comments on Thrice Around the Block: Tracking Cashflow (for Non-Accountants)edwinohhttp://www.blogger.com/profile/07153519256079985792noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6316913927894195325.post-6782738893462308142010-05-03T14:48:24.670-07:002010-05-03T14:48:24.670-07:00If the person who receives the check is the same a...If the person who receives the check is the same as the depositer, one fraud scenario is that the receiver "fails" to record receipt of the check, endorses it over to themselves, and cashes it.<br /><br />In general, good accounting controls call for separating employees responsible for recording transactions from having custody of the asset. This is obviously tougher to do in a startup which may not have enough people to do this.edwinohhttps://www.blogger.com/profile/07153519256079985792noreply@blogger.comtag:blogger.com,1999:blog-6316913927894195325.post-27265965050252976702010-05-03T14:05:15.438-07:002010-05-03T14:05:15.438-07:00Great article. This is the first time I've eve...Great article. This is the first time I've ever heard of your Anti-fraud Control #2, Dual Bank Deposits protocol. Can you explain why this is beneficial? What does it protect you from?Anonymousnoreply@blogger.com