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In AFP’s 2017 Payments Fraud and Control survey , FBI is warning companies about the most recent fraud attack on the rise: Business Email Compromise (BEC) scams. To prevent ACH fraud, 60% of businesses make it a daily habit to reconcile accounts to return all unauthorized ACH debits. Payments are processed in no more than 24 hours.
If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. They graduated from Techstars Austin in 2017.
They have 60 million direct deposits they can do. Interesting fact - Kabbage, in 2017 - raised $250 million from SoftBank. David Leary: [00:33:00] Not even then because it wasn't fully reconciled, because I was like, oh, she's in New York. They're gonna do that in mid-April. You know who else SoftBank invested in?
Stay tuned to hear more from our sponsor, Liscio, later in the episode. Blake Oliver: [00:00:28] Back in 2017, not that long ago, the AICPA did a demographic trends report, finding that nine percent of students enrolling into accounting bachelor's programs are Black. At least 1,020 duplicate deposits were issued for PPP.
If you've ever tried to get your clients' Stripe, Square, or PayPal transactions into QuickBooks or Xero, you've probably pulled your hair out a few times trying to get income and fees recorded correctly so that the deposit amounts match the bank statement so you can reconcile. Then, what they did is they turned it off.
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