Bookkeeper Fraud: How Can Bookkeeping Employees Wrong You

We have talked a lot about how hiring a person or people to keep track of all of your bookkeeping can be expensive but we have only talked about how much it costs you to keep them on the payroll. There are other ways that can make hiring someone to do your bookkeeping, accounting, and payroll. In this blog, we discuss common bookkeeper fraud and how hiring someone can cost you more than just their salary.

Theft

Even with background checks, you never know when or if you hire someone that will blatantly steal from your business. Money, or lack thereof, can cause people to do all kinds of things and when they are in a position where they see and handle your money everyday, it can be very easy to succumb to the temptation to steal.

Embezzlement

Much like theft, Embezzlement can harm your business as well. Embezzlement is defined as the unlawful taking of someone else’s property in a way that the owner did not intend. So that could mean that your employee told you that they needed money for something and doubled the amount they needed so they could keep the extra money, for example. They might even set up a phone vendor account to put money into but that money goes directly to them.

Stealing

Whether they are taking money from the cash register when they are counting it or stealing inventory and falsifying inventory records, employees can be sneaky and they are better able to do this when they are the ones who are in complete control over the finances.

We have talked a lot about how hiring a person or people to keep track of all of your bookkeeping can be expensive but we have only talked about how much it costs you to keep them on the payroll. There are other ways that can make hiring someone to do your bookkeeping, accounting, and payroll. In this blog, we want to talk about how hiring someone can cost you more than just their salary.

Theft

Even with background checks, you never know when or if you hire someone that will blatantly steal from your business. Money, or lack thereof, can cause people to do all kinds of things and when they are in a position where they see and handle your money everyday, it can be very easy to succumb to the temptation to steal.

Embezzlement

Much like theft, Embezzlement can harm your business as well. Embezzlement is defined as the unlawful taking of someone else’s property in a way that the owner did not intend. So that could mean that your employee told you that they needed money for something and doubled the amount they needed so they could keep the extra money, for example. They might even set up a phone vendor account to put money into but that money goes directly to them.

Stealing

Whether they are taking money from the cash register when they are counting it or stealing inventory and falsifying inventory records, employees can be sneaky and they are better able to do this when they are the ones who are in complete control over the finances.

When you hire a cloud bookkeeping service like Remote Quality Bookkeeping, we have a reputation to keep. We hire only the best to take care of your bookkeeping, accounting and payroll services. And the best part is that we only have access to the numbers, not your cash or your inventory. Trust us to keep your finances in order. Call us today.