Audit Trail in QuickBooks is a feature that permits multiple users to access the company file. In addition, this feature can help you in keeping a track of who makes the changes in the QuickBooks company file. Although if there is more than one person who makes modifications in the company file. Then you should turn on the Use Audit Trail feature. QuickBooks records the following in the audit trail such as:
- First, the dates on which changes are made.
- Also the names of the user who makes changes in the company files.
- What type of change or event has made?
- Keeps a record of the name of any customer or vendor that is related to the change.
- And tracks the original transaction date and amount.
What are its advantages?
As you know that the audit trail feature in QB is helpful to business owners, accountants, and bookkeepers, etc. Here are some advantages of an audit trail in QuickBooks. They are like:
- Firstly, it helps you to find the deleted transactions. That may be causing variation in opening balances and bank reconciliations.
- Find previous account names that join with new accounts.
- Monitor user login times and activities.
- Identify the users that require further training. This happens by noting an increase in their modified transactions
- Assists in searching for incorrect transactions.
- And identify the transactions that have been lost due to accidental deletion
- Always keep you aware as to who is accessing the company file
- Next, what changes they are making in the QB.
How to use the audit trail in QuickBooks?
Generally, the audit trail displays 150 records at a time. If you want to use the audit trail in QuickBooks, then firstly you have to log in as an admin. After that, you can easily access the audit trail feature. To access the audit trail feature, you have to follow some steps such as:
- Firstly, click on Settings and then select Audit Trail.
- Click on the Filter option.
- Make use of the fields that appear on the Filter panel. To choose the appropriate User, Date, or Events filter to reduce the results.
- Then by clicking on Apply you can apply it.
- In the case of most transactions or events, click on View in the History column to open the audit history. So that you can know who made the change and what they did.
How to view changes in the audit trail?
Are you curious to know who has made the changes in the QB company file? What changes have been made? Then you can get all the answers by accessing the audit trail feature in QuickBooks Also note that Audit Trail access only if you have sufficient rights. To view the changes in the audit trail, you have to implement some steps like:
- First of all, you have to open the transaction you want to check.
- After that, choose More option and then select Audit History.
- Now it opens the Audit Trail.
- For a larger view, you can click on Show All.
- If you want each and every comparison then select Compare.
How it is beneficial for business owners?
Due to its endless benefits, there are 2 main reasons that strongly suggest to use it. However, it can be beneficial for the business owners due to the following reasons such as:
As a basic training tool:-
When a large number of deleted or modified transactions appear within the report, the first question that arises in your mind is: why it is appearing? First, is it appearing because the person does not understand how to operate QuickBooks properly? Or are there are some other reasons behind the changes? Yet it is important for the business proprietor to ask these types of questions. In this way, this audit trail feature can become a blessing for the business owners.
As a control tool:-
Although the business proprietor can quickly scan the list of users and transactions. To verify that only authorized persons can access the transactions. This is a key component of proper internal controls, and the audit trail can provide this information quickly and easily.
In a nutshell, we can say that Audit Trail in QuickBooks helps you to identify the changes that have been made to the QuickBooks company files. Additionally, you can also get to know who has made the changes in the QB. I hope this blog will help you to use this audit trail feature easily. However, if you need any help or you have any doubts regarding this amazing feature. Then take help from the QuickBooks Support experts. They will clarify all your doubts within a very little time.