Simple Internal Controls Every Small Business Can Implement

Small teams often assume internal controls are too complex or time consuming to bother with, but that couldn’t be further from the truth. Even a few simple steps can dramatically reduce risk and improve clarity.

At MCAC, we specialize in helping small businesses implement easy, effective controls that fit their size and budget. Here are five internal controls every small business can start using right away.

1️⃣ Use Approval Limits for Purchases

Require owner or manager sign-off for expenses over a set amount. This ensures visibility and prevents overspending.

2️⃣ Reconcile Bank Accounts Monthly

Regular reconciliation helps catch fraud, errors, and forgotten transactions. It’s one of the easiest ways to safeguard your cash flow.

3️⃣ Separate Financial Duties Where Possible

Even if you’re a two-person team, try to separate responsibilities for example, one person enters payments and another reviews reports.

4️⃣ Use Password Protection and Limited Access

Don’t give everyone access to everything. Password-protect sensitive accounts and set user permissions in software tools.

5️⃣ Document Basic Policies

Create simple, written procedures for things like reimbursements, expense reports, and approvals. Clarity now saves confusion later.

Internal controls aren’t about bureaucracy, they’re about building a solid foundation for your business. MCAC helps Alaska’s small businesses set up safeguards that protect, simplify, and support smarter growth.

📞 Want to add structure without adding stress? Let’s create a plan that works for you.