The idea of your bookkeeper stealing money from you is almost inconceivable for many business owners. After all, you probably have a personal relationship with this person. You have trusted them to watch over the single most important part of your business. If money is going ‘out the back door’ due to bookkeeper theft, you will have very little chance of success in the long term. Unfortunately, bookkeeper theft is something that happens from time to time, so you need to pay close attention to make sure you don’t become a victim.
Following is a list of four signs that your bookkeeper may be taking home more than just his or her paycheck.
#1 – Books Don’t Add Up
Okay, so this is a fairly obvious point, but it needs to be made anyway. If you are noticing that there are an odd number of adjustments within your accounting records, it might be time to take a closer look. The occasional adjustment is normal and to be expected, but a pattern of this kind of activity without proper explanation is a sign of a serious problem. Why are the books not adding up at the end of the day? Where are the problems coming from? You might need to ask some hard questions, but those are important questions to ask.
#2 – Higher Level of Secrecy
Your bookkeeper should be the most open person within your business. He or she should be happy to show you anything and everything within the accounting software, at all times. If there is any sense of secrecy within the system, or any reluctance to show you the books, you should become concerned. As the owner or general manager of the business, there is no valid reason that you shouldn’t be able to see the books whenever you wish. A bookkeeper stealing from the company will likely be reluctant to turn over information, so be skeptical of anyone who is closely guarding the books.
#3 – Cash Flow Takes a Dive
If your business has been running at the same level as it usually does, but cash flow has suddenly dipped, you might want to look closer into your daily operations. Is there really less cash coming into the business, or is it ‘leaking’ out somewhere along the way? Most businesses generate relatively predictable levels of cash based on how many customers are coming through the door – or how many invoices are being sent out – so it shouldn’t take much effort to uncover a problem.
#4 – Resists Help
This is another point that speaks to the ‘secrecy’ problem. Be wary if you offer your bookkeeper assistance in the form of another employee to help handle easy tasks like payment posting or cutting checks, and the bookkeeper resists that help. People don’t generally turn down help when it comes to getting their work completed. They might have an ulterior motive for preferring to work on their own.
All this discussion about bookkeeper theft leads to the idea of turning over your bookkeeper to someone who will never steal from you – a robot. Botkeeper offers a robot bookkeeping service which can handle the majority of the work done by a human without any risk of theft. Of course, botkeeper offers many other advantages, including reliable accuracy, cost-savings, 24/7 availability, and more. If you would like to forget about any chance of your bookkeeper skimming off of your bottom line, consider opting for a robot bookkeeper to handle your day-to-day chores.