|
|
Articles To Help Your Business
The "F" Word? Fraud!
Worried about fraud? Send your bookkeeper on vacation!
Small businesses are particularly vulnerable to employee fraud because an
employee often has several responsibilities without direct supervision.
The American Express Small Business Advisor is offering some effective
financial controls to stem the problem.
Keep duties separate. No single employee should control a financial transaction
from beginning to end. Dividing up responsibilities makes it more difficult to
steal and manipulate records to cover theft.
Receive bank statements personally. Review canceled checks carefully, including
the payees, signatures and endorsement.
Make your bookkeeper take a vacation. Many owners are surprised when "loyal"
employees -- the ones that never take a vacation or sick days -- are found to
be stealing from them.
Have your books audited regularly. At least once a year, conduct an unscheduled
audit of your books by a third party. Consider specifically requesting a "fraud
audit", which is designed to uncover and prevent these kinds of losses.
Understand your books. Sloppy and unsupervised bookkeeping makes it easy for
an employee to keep cash and receipts. If you're not a "numbers person", have
your accountant show you what to look for, or take a relevant class at a local
college.
|
QUICK LINKS
Renew Your Listing
Upgrade Your Listing
We Reward REFERRALS
Accounting Certifications
The G.A.A.P.
400+ Industry Links
Bookkeeping Jobs
Books - Amazon.com
Payroll Deductions/Cda
Payroll Deductions/USA
Salary & COL Charts
Exchange Rates
Financial Directory
Financial Calculator
Tax Changes
SPYWARE, SPYBOT Eliminate Spyware, PopUps,
and Evidence that could be used against you!
INTERNET WEB DIRECTORY
The Internet's fastest growing directory of the best web sites. Fully searchable and
updated regularly.
TelPay & BusinessConnect® Product Info
|