Embezzlement in the workplace

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Asset Management and Liability and other Small Businesses topics.

How do I protect my business in case of disaster?

Embezzlement in the workplace

Here are some warning signs that embezzlement might be occurring:
* Unusual bad-debt write-offs could be covering up a fraudulent scheme.
* Profit declines and increases in expenses could be a sign that cash is being siphoned off illegitimately.
* A decline or unusually small increase in sales could mean that sales are not being recorded.
* Bounced business checks could indicate that funds are being siphoned out of your bank account.
* An increase in overall sales returns might mean a concealment of A/R payments.
* Inventory shortages could indicate fictitious purchases, unrecorded sales, or employee pilferage.
* Slow collections can hide embezzlement.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!


Guru Spotlight
Susan Sayour