How to protect small businesses from fraud

Make sure you keep a detailed and accurate record, have solid inventory control.

Document every business transactions(sales receipts, sales, bank deposits) ensure to verify transactions daily or weekly.

Number your receipts, invoices and purchase order in an orderly manner.

Separate the person handling cash receipts and payments while another prepares deposit slips.

Always compare every bank statement list to your company's internal record.

Regularly check the expense report received from your suppliers, know the amount and purpose, it is easy to spot payments that looks suspicious.