Product Alert – BooksGuard App for QuickBooks Online

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This article is intended to make you aware of a recent 'addition' to the Intuit App Center, it is not intended to be an 'in-depth' review of the product.  I think this looks like a useful tool which ProAdvisors may find beneficial to their clients. 

A few years ago there was a product called ‘Audit My Books’ that could be integrated with QuickBooks desktop products to evaluate your ‘company file’ and measure that evaluation against a set of criteria that was indicative of potential fraud.  Unfortunately ‘Audit My Books’ closed up shop a couple of years ago, they simply didn’t attract the necessary number of users to become profitable.

Now a similar product has recently taken up residence within the Intuit App Center, but this time focused on safeguarding QuickBooks Online files.  BooksGuard by in2clouds Inc. helps you prevent fraud. It constantly monitors your accounting books and notifies you of anomalies or errors. BooksGuard is always getting smarter because it learns from your own data.

BooksGuard focuses on the Accounts Payable side of your company file by aggregating transactions and creating risk scores for each vendor.

As part of the process BooksGuard detects duplicate and look-alike transactions, it also identifies transactions recorded during unusual times which might be indicative of suspicious activity.

Then BooksGuard's unique risk heatmap ranks vendors by risk and exposure.

Product pricing: BooksGuard has 4 different pricing plans ranging from $9.00/month to $99.00/month. Plans are based upon the number of transactions per month, ranging from 100 transactions (bills, bill payments, purchases) maximum per month to 1000 transactions per month.

If this sounds like an App that you think you can use in your bookkeeping, accountant or ProAdvisor practice, or perhaps one of your clients is in need of a little extra 'forensic protection, then you should check out this App. For more information, including a brief video of this BooksGuard's functionality, see the Intuit App Center BooksGuard feature.