Available in Sage 50 Premium Accounting and higher.
Sage 50 provides several options that can maintain data security and can deter users from possible fraudulent activities. These include
Sage 50 can allow custom access for different individuals. You can set up user profiles (records) for each person who will be using Sage 50. Each user record is set up with a user name and password that will be required before opening and working with company data. Sage 50 passwords comply with PCI standards for credit card transactions. Setting up user profiles also enhances security and personal accountability as provided by the Sage 50 audit trail feature (see below). Tell me more about company users and passwords.
Sage 50 has several methods to track information. For example, the general ledger, journals, reports, and financial statements can be used to trace transactions and balances for audit purposes. However, if you want to track when an action is performed in your company data, Sage 50's audit trail provides this information in a very usable form. The audit trail feature logs when a person enters data, maintains (edits) existing data, and removes data. Audit trail provides accountability of users, deters users from fraudulent activity or mistakes, and tracks transaction history. The Audit Trail report can trace fraudulent activity and other accounting adjustments you may not know were completed. Tell me more about Sage 50's audit trail.
If you intend to have Sage 50 maintain an audit trail log, it is strongly recommended that you set up user profiles in your company. The Audit Trail report can associate user IDs with each data and system activity performed as it occurs and establishes personal accountability.
You can reconcile any general ledger account in Sage 50. Typically, you would reconcile bank accounts, cash accounts (such as petty cash), and credit card accounts. You should systematically reconcile accounts each period so that you can quickly signal bank errors, match real-world data with Sage 50 data, and detect possible fraudulent activity. Tell me more about account reconciliation.
It is important that you back up your company data on a regular basis and store these backups in a separate, secure location. Backing up data allows you to record a snapshot of the current state of your company. If you suspect fraudulent activity or your data becomes corrupt, you can restore a recent backup. Backups are also useful for auditing purposes. For example, you can restore a backup that was made prior to closing a fiscal year to examine detailed transaction history. Tell me more about backup strategies.