Amounts starting with Same First Four Digits

Amounts starting with same first four digits, i.e. $117.53 and $1,175.38, This could well be an error or a legit transaction but there is a chance the employee is expensing the double amount, voiding the check, then issuing the correct amount to the vendor and writing a check to themselves for the rest.

How to use it ?

System searches for payments which start with the Same first four digits and automatically generates a report containing all identified transactions.

What does our fraud detection analytics software do?

We run more than a dozen separate tests with just the basic data. In fact over half the test for employee, payroll, accounts payable, check, and business fraud are run with just check data, check amount and payee. Here are the tests we run:

Benford’s law

single and double digits

Vendor payments same vendor same amount

Vendor payments same amount same day

Similar vendors

(you set the similarity percentage)

Payroll overpayment analysis

Payroll overtime analysis

Vendor/Employee address cross-check

Non-business day transaction

(US Holidays included)

Under cut-off amounts

(you set the limits)

Z-score

(also helps identify vendors putting stress on the business)

Relative size factor

Fictitious vendor search

(you select the search words like PO Box, or consultant)

Amounts Exactly Twice

As much as other

Amounts starting with

Same First Four Digits

Amounts 5% +/-

the other

Automated Vendor Stress Identifier

Outliers Detection

Employee Fraud Detection & Prevention Dashboard for QuickBooks Online - Integrate