Managing Internal Controls with Watchful Eye
Watchful Eye was built to help accountants get better visibility over what is happening in their accounting system (Xero or MYOB).
Watchful Eye Alerts will send you an email after certain events happen in Xero or MYOB to help manage your Internal Controls.
- When a supplier bank account is changed, Watchful Eye recommends that you phone the supplier to confirm the change is legitimate. This protects you from Business Email Compromise fraud. This Alert defaults to hourly.
- When you pay a supplier for the first time from Xero or MYOB, we also recommend that you ring the supplier to confirm the bank account number. This Alert defaults to hourly.
- When a new supplier is set up, we recommend that you ensure the legal entity name & physical address have been entered into the accounting system. This Alert defaults to daily.