AccountingDepartment.com is a third party bookkeeping service that meets your business accounting needs while offering money-backed assurances against any possible fraud perpetrated by its employees. But despite this, you may choose to refrain from outsourcing your bookkeeping needs simply out of a desire not to part with the tried and true. If this is the case, you’re going to need to implement some fraud protection processes to ensure that your in-house bookkeeper isn’t doing anything illicit while you’re busy running your business.
The following fraud protection tips should help you identify any suspicious activity and may even prevent someone from trying to take advantage of you in the first place.
- Keep a watchful eye on your employees, including your accounting staff. That’s not to say you should be mistrustful and watch their every move—just don’t allow yourself to develop a false sense of security.
- Remain involved in all of your company’s bookkeeping activities. At least once a month, you should be asking to review your company’s financial records. This way, you can be tipped off early to any illegal activity and minimize the impact of any damage. It will also serve to remind your accounting staff that you’re aware of every transaction taking place.
- If you see any questionable charges on the company checkbook or credit account, and ask your bookkeeper for details. This requires that you review your company check ledger and company credit card statement at least once per month.
- Ask your accounting staff to provide you with monthly financial reports. This is a great way to ensure everything is on the up-and-up, as well as to send a clear signal to anyone that would try to steal from you that you’re not going to be an easy target.
If you’re concerned about your on-site accounting staff or bookkeeper staying honest, the best fraud protection you can get is to outsource your accounting needs to a company like AccountingDepartment.com. Not only will you have the benefit of working with experienced and fully vetted bookkeepers, but you’ll also be able to recoup any losses through the insurance policies offered. Think it over. Your company’s finances are too important to gamble with.
