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Character and reference checks on each employee the first and certainly one of the most vital steps a business can take, this also includes people and companies that will be doing work at your home. Once you let a crook into your place they are probably going to be able to get through any of your other defenses.

If he is a real professional he can break you in a short time, possibly acting as a confederate of a gang. Your background and credit check is paramount. If possible, records of employment for 10 or more years should be reviewed, checked. Are there gaps in the record? Why? Do they hide prison sentences? Financial difficulties in a previous job? Who knows this person for how long? Does he live within the kind of income you intend to pay him without needing more? Is his bank account constantly overdrawn ? It is true that you cannot always tell the potential thief from his record.

Chief source of loss is from the trusted person with a hitherto-unblemished record, which indicates honesty up to a point. The point, however, may be reached when the need for more money overcomes resistance to temptation.

Payrolls can be padded in many ways. Timekeeping records are easy to manipulate. Company expense reports can be exaggerated. It is not that difficult to carry a fictitious employee on the payroll. If the same person who prepares the payroll does the actual paying there is always possibility of fraud either independently or with others. There should be checks and balances including an independent check on the preparation and payment. New names should never be added without authorization. Accurate timekeeping and supervision is important. A payroll supervisor or manager should have custody of funds only during actual paying-off time.

Purchase Orders should be serially pre-numbered and triplicated in different colors to make identification easier if done by hand. If done on computer systems should be put in place to verify purchases. Unnumbered purchase orders invite false purchases. Blanks should not be left around.

Tracking the flow of money throughout a business and personal household finance is important step in making sure money spent is used where it should be spent.

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