● Screen job applicants. Check work references, criminal records, and professional recommendations. By instituting a screening policy, you may save a lot of cash and grief. Just remember to treat every applicant equally, and get written permission for background checks.
●
Reconcile bank accounts. A standard and simple
internal control is to separate employees who pay bills and make deposits from
those who reconcile accounts. As an owner, making time to personally review
deposits and disbursements on a regular basis can deter fraudulent billing or
cash skimming schemes.
●
Secure inventory and supplies. This can be as
simple as regularly changing combinations on warehouse doors or locking supply
cabinets. Laptop computers are especially vulnerable to theft, so make a
priority of securing them.
●
Get a cash control review. Having a trained set
of eyes inspect your books, records, and operations can pay for itself many
times over. Skilled auditors can ferret out scams and help your business
develop stronger controls against criminals, both inside and out.
