Financial Reporting Controls

VITALICS FINANCIAL REPORTING FORMS

Accounting controls over financial reporting is a crucial part of running a profitable business. Using specific control forms for financial reporting and banking review will lower your fraud risks and keep the earned profits within your organization.

Financial Reporting Forms


FINANCIAL REPORTING FORMS$29

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VITALICS FORMS BUNDLE$129

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FRAUD TOOLKIT & VITALICS$298

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WHAT IS VITALICS

Vitalics is a small business internal control program that provides all the tools to easily set up and implement your company’s controls.  Vitalics contains over 140 already created yet customizable internal control forms, checklists and templates in a desktop application.  Vitalics forms are also available separately.   Whether you are a business owner, office manager, bookkeeper or accountant, Vitalics will provide you the reassurance that your work or your company assets are protected.



DID YOU KNOW ?

Journal entries are an easy way to hide embezzlement. The reason is they lack review or substantiation and most business owners accept a journal entry at face value as the “bookkeeper or accountant” knows what they are doing and are fixing errors or providing tax benefits to the company’s income. Financial reporting controls are essential to safeguarding your business from fraud and embezzlement.

COMMON OCCUPATIONAL FRAUD SCHEMES

Types of Business Schemes

An illegal gratuity scheme is similar to bribery except that there is no intent to influence a particular business decision, but to reward someone for making a favorable decision.

Financial statement fraud is the intentional misstatement of financial reports by omitting over over stating critical facts or disclosures, misstating amounts, or misapplying GAAP.

Collusion is a fraud scheme perpetrated by two or more employees or outside parties, each of whose job responsiblities is necessary to complete the fraud.

An overstatement of asset fraud is a financial statement fraud involving the recording of assets and amounts higher than they should be.

FINANCIAL PROCEDURES
Helpful suggestions

Setting a deadline for financial reports
Make sure your financial reports are completed and provided in a timely manner. Depending on your business size, the 15th to 20th of the month is ideal.

Limited journal entries
If your bookkeeper or accountant creates multiple journal entries, make sure you REQUIRE back-up documentation to substantiate those entries. Journal entries should be limited to year end from your CPA.

Condensing Accounting Cumputer Data
Make sure you do not allow anyone to condense your computer data without your knowledge and without a full back-up that can be restored. Condensing data converts prior year records into a journal entry and do not allow in-depth review especially in audits.

Reviewing your financial reports
Many small business owners are too busy to review their records. This is a costly mistake. Make sure you review and sign off on your records and if you don’t understand how to read a Balance Sheet and P&L ask your CPA to explain it to you!

Financial Reporting Internal Control Forms

  • Financial Reporting Internal Control Forms

      Authorization to condense computer data form

      Bank reconciliation checklist

      Bank reconciliation checklist 12 month

      Cash flow reconciliation form

      Journal entry checklist 12 month

      Journal entry form

      Month end checklist

      Owner checklist

      Profit and loss horizontal analysis

      Password file

      Ratio analysis template

      Year end checklist

      Sales tax bad debt summary form

      Year end W9 1099 list

  • Vitalics Internal Control Forms Bundle List

  • Internal Control Reports

      Company organizational chart

      Internal control program detailed

      Internal control program basic

      Risk assessment form

    Notes Memos and Corporate Forms

      Accounting work in progress form

      Memorandum

      Minutes of the meeting log sheet

      Minutes of the meeting template

    Accounts Payable Internal Control Forms List

      Accounts Payable Check Run Form

      Accounts Payable Checklist 12 Month

      Accounts Payable Checklist

      Accounts Payable Reconciliation Form

      Accounts Payable Month End Checklist

      Accounts Payable Month End Checklist 12 Month

      Approved Vendor List Form

      Automatic Payment Update Form

      Automatic Payment Form

      Automatic Payment List

      Change in Vendor Form

      Check Request Form

      Credit Card Reconciliation Checklist 12 Month

      Credit Card Reconciliation Checklist

      Current Vendor Review Checklist 12 Month

      Current Vendor Review Checklist

      Employee Credit Card Request Form

      Expense Reimbursement Checklist 12 Month

      Expense Reimbursement Checklist

      Expense Reimbursement Form

      Manual Check Payment Checklist

      Manual Check Payment Checklist 12 Month

      Missing Receipt Form

      New Vendor Checklist 12 Month

      New Vendor Checklist

      New Vendor Request Form

      Receipt of Vendor Refund

      Rejection of Vendor Invoice

      Vendor Application

      Vendor Black List

      Vendor Over Payment Notice

      Wire Transfer Request Form

    Financial Reporting Internal Control Forms

      Authorization to condense computer data form

      Bank reconciliation checklist

      Bank reconciliation checklist 12 month

      Cash flow reconciliation form

      Journal entry checklist 12 month

      Journal entry form

      Month end checklist

      Owner checklist

      Profit and loss horizontal analysis

      Password file

      Ratio analysis template

      Year end checklist

      Sales tax bad debt summary form

      Year end W9 1099 list

    Human Resources and Payroll Internal Control Forms

      Authorization for background and credit check

      Employee handbook

      Fraud policy

      Human resource checklist

      Human resource checklist 12 month

      Job description form

      New hire form

      Termination of employment form

      Employment contract template

      Change in employee payroll information form

      Employee advance request form

      Employee roster template

      Payroll checklist

      Payroll checklist 12 month

      Payroll disbursement form

      Payroll reconciliation form

      Payroll month end reconciliation form

      Probationary period agreement template

    Cash Banking and Assets Internal Control Forms

      Asset reconciliation form

      Disposition of fixed asset form

      Fixed asset checklist

      Fixed asset checklist 12 month

      Fixed asset listing form

      Fixed asset payment request form

      Fixed asset purchase form

      Fixed asset transfer of location form

      Lost or stolen asset form

      Sale of fixed asset form

      Bank deposit checklist

      Bank reconciliation approval form

      Bank reconciliation template form

      Un-cleared check list

      Un-cleared deposit list

      Cash drawer reconciliation form

      Cash sales checklist

      Credit card reconciliation approval form

      Petty cash checklist 12 month

      Petty cash journal

      Petty cash reconciliation form

    Accounts Receivable Internal Control Forms

      Accounts Receivable Internal Control Forms

      Accounts receivable checklist

      Accounts receivable checklist 12 month

      Accounts receivable deposit form

      Accounts receivable reconciliation form

      Accounts receivable credit card payment deposit form

      Bad debt request form

      Change in customer information form

      Credit card payment authorization form

      Current customer review checklist 12 month form

      Current customer review checklist

      Customer outside collections forms

      Customer credit application

      Customer black list form

      Customer collection list form

      Customer lost payment form

      Daily cash receipts form

      New customer checklist form

      New customer checklist 12 month

      New customer form

      Personal guarantee template

      Returned customer payment form

      Sales commission request form

      Sales tax bad debt summary

      Weekly sales form

    Purchasing and Inventory Internal Control Forms

      Disposition of inventory form

      Inventory access by personnel form

      Inventory checklist

      Inventory reconciliation form

      Inventory transfer of location form

      Inventory valuation listing

      Lost or stolen inventory form

      Physical inventory count form

      Purchase order checklist

      Purchase order reconciliation form

     

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