CHAPTER 1 Hiring the Right Employees.
Where Do You Start?
Advice of Counsel.
Criminal and Civil History Checks.
Hiring the Right Employees: Considerations.
CHAPTER 2 Know Your Employees.
Why Is Knowing Your Employees Important?
What Should You Watch for in Your Employees?
Know Your Employees: Considerations.
CHAPTER 3 Sales, Cash Receipts, and Collections.
Here’s Where Everything Starts.
Recording and Tracking Sales.
Debit Memos and Other Adjustments.
Sales, Cash Receipts, and Collections: Considerations.
CHAPTER 4 Credit Card Sales, Transactions, and Merchant Statements.
Processing Refunds or Credits.
Reviewing and Reconciling Refunds or Credits.
Reviewing and Reconciling the Merchant Statement.
Credit Card Sales, Transactions, and Merchant Statements: Considerations.
CHAPTER 5 Purchases, Cash Disbursements, Checks, and Petty Cash.
Unpaid Bills/Accounts Payable.
Purchases, Cash Disbursements, Checks, and Petty Cash: Considerations.
CHAPTER 6 Credit Cards and Debit Cards.
Credit Cards and Debit Cards: Considerations.
CHAPTER 7 Employee Expense Reimbursement.
Where Are the Abuses?
Employee Expense Reimbursement: Considerations.
CHAPTER 8 Electronic Banking.
Traditional Banking (In-Person Deposits and Manual Check Writing).
Check Processing and Clearing Changes.
Changes in Bank Deposits.
What Can You Do?
Electronic Banking: Considerations.
CHAPTER 9 Payroll Processing.
Payroll Administration: Adding/Changing/Terminating.
Payroll Tax Returns.
Payroll Processing: Considerations.
CHAPTER 10 Inventory Issues and Controls.
Prevention: Good News and Bad News.
Retail Businesses: Items Available for Sale.
All Businesses: Items for Use by Employees (Supplies, Tools, and Equipment).
Inventory Issues and Controls: Considerations.
CHAPTER 11 Bank Statements, Canceled Checks, and Reconciliations.
Investment Account Statements.
Bank Statements, Canceled Checks, and Reconciliations: Considerations.
CHAPTER 12 Financial Reports.
Generate Financial Reports Regularly.
Why Is the Regular Review of Financial Reports So Important?
When to Consider Outside Advice and Assistance.
Financial Reports: Considerations.
CHAPTER 13 Safeguarding Your Bookkeeping or Accounting Systems.
Manual Bookkeeping Systems.
Computerized Bookkeeping and Accounting Systems.
Safeguarding Your Bookkeeping or Accounting Systems: Considerations.
CHAPTER 14 Prevention, Detection, and Insurance.
Timing Is Everything.
Adequacy of Coverage.
Responsibilities for a Claim.
Prevention, Detection, and Insurance: Considerations.
CHAPTER 15 Your Response to an Identified or Potential Issue.
A Dreaded Day of Discovery.
Due Diligence on the Discovery.
What If It Appears to Be Fraud?
Your Response to an Identified or Potential Issue: Considerations.
Appendix A: Embezzlement Controls for Business Enterprises.
Appendix B: Who Was Lester Amos Pratt?
About the Author.