How to ensure no one in your accounting department is embezzling

When it comes to embezzling, a lot of businesses think that it could never happen to them - but it can.Even though we all would like to think that our employees are honest and upright, it is better to be smart and protect yourself from embezzling happening to you.A lot of the business embezzlements happen in the accounting department, because business accountants are usually the ones that are responsible for managing most of the business expenses.Here are a couple of ways that you can ensure that no one in your accounting department is embezzling:

1. Cross train your employees:One of the best ways that you can prevent someone in your accounting department from embezzling is to cross train the employees in the accounting department.Make multiple people in charge of doing multiple functions.This means that these people will be able to cross check and audit each other's work.Not only does this help to ensure that no on in your accounting department is embezzling, but it also makes sure that all of the processes are being followed correctly.This way, you can eliminate mistakes and protect your money at the same time!

2. Pull in an outside accountant occasionally:Another way that you can ensure no on in your accounting department is embezzling is to pull in an outside accountant to do to "spot checks" occasionally.An outside accountant will be able to come in and make sure that all of the money and work is accounted for properly.This is not only a great way to prevent embezzling, but it also is a good way to keep your accounting department employees on task.
3. Don't use signature stamps for checks:Another way that you can ensure no one in your accounting department is embezzling is to avoid using signature stamps.Signature stamps are very easy to misuse, and it is almost asking for an embezzler to come in and take advantage of it.Instead, you should make it a policy to always sign all of your checks with a pen.
4. Have separate check cards:If you decide to use separate check cards within your company, you should have each person have their own check card.This way, you will be able to see who is spending the money, and where exactly the money is going.If you have a large company card that anyone can use, it is easier for someone to embezzle the money or make personal purchases with the card.
5. Bond with your accounting employees:You should develop a good friendship and relationship with the accounting employees that are specifically dealing with your money.It has been suggested that employees are less likely to embezzle money from someone that they care about.By taking the time to become friends with your accounting department, you will not only build up their trust and confidence, but you could also ensure yourself against losing a lot of money through embezzlement!
6. Make nightly deposits:Another way that you can ensure that no one in your accounting department is embezzling is to make nightly deposits.This way extra money or cash will not be left on the business premises, which could cause it to be stolen.

These are a couple of ways that you can ensure no one in your accounting department is embezzling.If you have further concerns about your accounting department, you might want to consider doing background checks on employees before hiring them.If the potential employees have had any financial problems, they might be tempted to steal money to help fix any personal financial situations.Also, you should not hire any accounting employee who has a criminal background.