It is possible to use Accounts Payable, Manual Check and Payment Entry to issue checks to NOF (Not-on-File) Vendors, where the Payee Name may be entered on-the-fly, then delete the checks from data entry. There will be no trace, just missing check papers (only if check stock is pre-printed). This may lead to fraud and embezzlement that is not caught until later (if bank reconciliation is run).

Ideally, this should be implemented with an audit log that cannot easily be purged merely after Print or Preview.

by: Paul C. | over a year ago | Financial Management