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Bookkeeping Embezzler

 
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Old 03-31-2019, 09:53 PM   #21
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Re: Bookkeeping Embezzler


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Eh... could be worse...


Manager of CBS employees’ credit union stole $40M over 20 years, authorities say... https://www.foxnews.com/entertainmen...uthorities-say
1 mill for 40 is a good deal for him

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Old 03-31-2019, 11:45 PM   #22
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Re: Bookkeeping Embezzler


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I know a couple businesses that got clipped like this. The temptation can be too great for some, I guess.



She worked for a Fredericksburg, VA contractor.



https://nypost.com/2019/03/28/bride-...ing-butt-lift/


My bookkeeper who's been so for the last 15 years has all my bank info and passwords. I put a lot of trust in her. However I also believe my liability insurance covers anything sinister like that.




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Old 04-01-2019, 07:06 AM   #23
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Re: Bookkeeping Embezzler


I know of two doctors who separately got dinged badly over the years. One by an office manager, another was a veterinary clinic by the bookkeeper.

Maybe arranging periodic independent audits should be part of the plan.
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Old 04-01-2019, 07:16 AM   #24
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Re: Bookkeeping Embezzler


When I got flattened, the method I using was to do my own daily/weekly have the wife do final weekly books, then a CPA do the monthly.

It was the CPA who figured out what was going on.
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Old 04-01-2019, 08:09 AM   #25
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Re: Bookkeeping Embezzler


Basic rule- the person who has the ability to pay a bill has no ability to create a bill in the system, and the bookkeeper has no power to create a bill or pay either.

Company credit cards short circuit that some, since an obligation is incurred based on one person's authority. It seems to be the single most used way to embezzle through goods and services I hear of. The highest dollar ones seem to involve fake invoices to cover stolen funds.

There is a whole specialty field for this topic- forensic accounting.
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Old 04-01-2019, 08:31 AM   #26
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Re: Bookkeeping Embezzler


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I know of two doctors who separately got dinged badly over the years. One by an office manager, another was a veterinary clinic by the bookkeeper.

Maybe arranging periodic independent audits should be part of the plan.
That a good point...
I wonder how many get busted when its time for an audit. Sort of a blessing in disguise
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Old 04-01-2019, 11:54 AM   #27
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Re: Bookkeeping Embezzler


I don't let my bookkeeper do my taxes. Not because of a trust issue but top mimimize mistakes. Sort of a 'check' system.


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Old 04-01-2019, 12:11 PM   #28
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Re: Bookkeeping Embezzler


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My bookkeeper who's been so for the last 15 years has all my bank info and passwords. I put a lot of trust in her. However I also believe my liability insurance covers anything sinister like that.




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Your bank doesn't have a user access account setup?
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Old 04-01-2019, 12:19 PM   #29
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Re: Bookkeeping Embezzler


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Your bank doesn't have a user access account setup?


Not sure, but I'm not the least bit concerned.


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