Cash recovery tool - detection of duplicate payments and other transactions. Identify any type of duplicate item such as invoice payments, employee expense reports, duplicate inventory items, fixed assets, etc. Duplicate payments/invoices can arise due to a variety of reasons, one of the most common of those reasons is when duplicate vendors have been setup. Testing for these duplicates is a common audit activity, but can often become complex because of such things as multiple platforms, difficulty of data conversion/extraction, large processing volumes, etc. For these and other reasons, the function is sometimes outsourced. Making the situation even more complicated, there can be instances where employees override system built-in controls. Also, judgment is required in order to identify what constitutes a "duplicate". For example, a transposed invoice number may have been entered once and then the correct invoice number entered a second time. Not all systems will detect such a duplicate payment. Besides duplicate payments, some payments may be mis-keyed as to amount, e.g. $12,500 instead of $125.00. These types of errors can be often be identified through a review of outliers or by performing the "relative value" test.
VERSION HISTORY
- Version 1.99 posted on 2010-05-31
Major version upgrade - Version 1.2 posted on 2007-02-03
Major version upgrade with Internet ability
Program Details
- Category: Business > Other
- Publisher: ez-r-stats-llc
- License: Free
- Price: N/A
- Version: 1.99
- Platform: windows