Continue reading "Avoiding bookkeeper fraud"
As a small business owner you will have a lot of control over the books along with payroll and other financial matters. As your business grows and you decide you need a vacation, who is left behind to care for your business books? You will need to leave the simple method up to one of your regular employees or you may decide that your business is large enough now that it's time to hire a bookkeeper. Bookkeeping usually involves inputting numbers, negotiating prices with vendors, and managing payroll. It can take a huge burden off your shoulders to place it into the hands of another person but with that can also come risk. Bookkeeper fraud is not uncommon as these individuals see the numbers all the time and have access to your accounts. It's easy for them to find a way to start taking off a cent here and there until they have built up a nice nest egg and you are wondering what is going on with your product mark up rates and other things that may be behind the sudden drop in your income.