Employee Theft: Examples of Misconduct by Occupation and Job Type

Examples of employee malfeasance can be better understood when broken down into basic occupation types and categories. By doing so, the underlying principles that contribute to acts of fraud, theft and embezzlement become evident: one must have access, opportunity and motivation.

Accounting/ Bookkeeping

o Ghost companies

Employee Theft: Examples of Misconduct by Occupation and Job Type

o Fictitious employees

o Fictitious or inflated invoices

o "Cooking the books" inflating and skimming from accounts

o Overlapping accounts

Automobile and Service Mechanics

o Billing customer for unneeded repairs

o Failing to do repairs

o Substituting inferior parts and products for premium charges

o Theft of cash by not reporting invoices to garage

o Theft from customer's cars

o Intentionally causing additional damages to vehicles

o Stealing and using customers' credit card numbers

o Billing customer and warranty center for same problem

o Selling or using drugs

Bartenders

o Not ringing up sales and keeping the money

o Overcharging customers and keeping the difference

o Under or over-pour

o Hiding inventory discrepancies by putting water in liquor

o Theft of liquor and other merchandise

o Giving away liquor and merchandise

o Steal tips from other employees

o Selling or using drugs

o Stealing and using customers' credit card numbers

Computer Personnel

o Theft of data

o Software piracy and theft

o Erasing or causing damage to files with viruses

o Embezzlement techniques used to round off small amounts of money from accounts over a long period of time or to otherwise divert funds

o Stealing hardware such as drives or memory modules

o Unauthorized Internet activity

Drivers

o Falsify expense and mileage reports

o Theft of time and payroll while making unauthorized stops

o Stealing or shorting deliveries

o Stealing from the warehouse

o Selling or using drugs

o Unauthorized use of delivery vehicle (business and personal)

o Creating then selling delivery overages

o Unreported vehicle damage or moving citations

Executives and Corporate Professionals

o Falsifying profit and productivity reports

o Corporate espionage

o Falsify expense and mileage reports

o Conflict of interest situations resulting in kickbacks

Gas Station and Convenience Store Personnel

o Not ringing up sales and keeping the money

o Overcharging customers and keeping the difference

o Selling or using drugs

o Falsify refunds and keeping the cash

o Theft of cash or merchandise

o Giving away merchandise

o Unauthorized discounts

o Stealing and using customers' credit card numbers

Hospital and Nursing-Home Personnel

o Theft from or physical abuse of patients

o Stealing, selling or using drugs

o Theft of equipment, food or supplies

Hotel and Motel Staff

o Failing to ring-up room bookings and keeping the money

o Theft of guest property

o Stealing and using customers' credit card numbers

o Overcharging customers and keeping the difference

o Offering or selling drugs or other illegal activities such as prostitution

o Theft of cash, food or supplies

Maintenance Personnel

o Corporate espionage

o Selling or using drugs

o Theft of equipment, food or supplies

o Sleeping on the job

Managers and Supervisors

o Fictitious employees

o Fictitious or inflated invoices

o Selling or using drugs

o Falsify expense and mileage reports

o Conflict of interest situations resulting in kickbacks

o Theft from company

o Falsifying profit and productivity reports

o Selling or using drugs

o Corporate espionage

Marketing and Public Relations Employees

o Falsifying profit and productivity reports

o Corporate espionage

o Falsify expense and mileage reports

o Conflict of interest situations resulting in kickbacks

o Theft from company

o Fictitious or inflated invoices

Restaurant Employees

o Not ringing up sales and keeping the money

o Stealing and using customers' credit card numbers

o Overcharging customers and keeping the difference

o Steal tips from other employees

o Theft of time and payroll

o Theft of food inventory

o Falsifying refunds

o Under-ringing or unauthorized discounts

Sales Clerks

o Not ringing up sales and keeping the money

o Stealing and using customers' credit card numbers

o Overcharging customers and keeping the difference

o Falsify time records

o Under-ringing or unauthorized discounts

o Theft of inventory

o Purposefully damages inventory or falsify damage records to keep items

o Falsify refunds and keeping the cash

o Theft of cash or merchandise

o Writing and cashing personal checks without sufficient funds to do so

Administrative and Clerical Associates

o Theft of data

o Software piracy and theft

o Erasing or causing damage to files with viruses

o Falsifying profit and productivity reports

o Corporate espionage

o Theft from petty cash

o Falsify time records

Cashiers

o Not ringing up sales and keeping the money

o Stealing and using customers' credit card numbers

o Overcharging customers and keeping the difference

o Falsify time records

o Under-ringing or unauthorized discounts

o Falsify refunds and keeping the cash

o Theft of cash and deposits

Warehouse Personnel

o Theft of inventory

o Purposefully damages inventory or falsify damage records to keep items

o Falsify time records

o Phony invoices or accounts

Security and Loss Prevention Staff

o Falsify reports and logs

o Sleeping on the clock

o Thefts from lost and found or other property areas

o Drugs or alcohol on duty

o Unauthorized use of force or customer abuses

o Accepting bribes

o Corporate espionage

o Withhold evidence

Employee Theft: Examples of Misconduct by Occupation and Job Type
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L. Scott Harrell is the author of Truth or Consequences: Hiring for Integrity, a manual which completely and accurately describes proven pre-employment hiring strategies and interviewing skills developed from 14 years of experience as a private investigator and principal of CompassPoint Investigations.

More information regarding Hiring for Integrity and other effective hiring practices can be found via his website: http://www.HiringProfessionals.com

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Four Tips For Simplifying Your S Corporation Accounting

S corporations save small businesses loads of tax. Using an S corp, the S corp owners typically avoid corporate income tax. And they also usually minimize payroll taxes. That's good news.

But there's bad news, too. An S corporation also often complicates your accounting. That's a bummer. Fortunately, you can often employ one or more of the following tricks to simplify and ease the bookkeeping burden of operating a small Subchapter S corporation:

S Corp Accounting Trick #1: Annual Payroll for Shareholder-employees

Four Tips For Simplifying Your S Corporation Accounting

If you're a one-man or one-woman S corporation--in other words, if the shareholder-employee is the only employee receiving wages--you can often simplify your payroll bookkeeping by processing payroll just once a year.

For example, rather than pay yourself a ,000 a month salary, you can pay yourself a ,000 annual salary at the end of the year.

Using an annual payroll cycle rather than, say, a monthly or biweekly cycle, reduces the number of times you need to process payroll checks and made payroll deposits. Using an annual payroll cycle also means that you'll simplify your quarterly payroll returns--for most quarters, the return will only show zeroes.

S Corp Accounting Trick #2: Over-withhold from Shareholder-employee Wages

Because an S corporation's income flows through to the shareholder's personal tax returns, the shareholders need to pay the income taxes owed on their shares of that income. That's sort of bummer because then, typically, shareholders need to make quarterly estimated tax payments.

Another trick to consider is jacking-up the federal and state income tax withholding on the shareholder's salary or wages. In other words, rather than make ,000 a quarter estimated tax payments, the shareholder-employee could boost his or her payroll withholding by ,000 a month or whatever.

S Corp Accounting Trick #3: Keep Cars Out of the Business

Making an S corporation the owner of a vehicle used inside the S corporation creates bookkeeping complexity. And, if you're honest about your non-business use of a vehicle, S corp ownership of the vehicle saves little tax.

Here's why: What the S corporation is supposed to do is track the personal use of the vehicle and then charge shareholders or employees for that personal use--perhaps by recognizing amounts as extra wages. Yuck. That's way too complicated for most small business corporations.

Many S corporations, therefore, can simplify their accounting by not putting cars inside the corporation. As an easier alternative, the S corporation can reimburse the S corp shareholder for business miles using the standard IRS mileage rate.

S Corp Accounting Trick #4: Don't Get Too Aggressive About Capitalizing Assets

Textbook accounting says that you're supposed to capitalize any assets you purchase. Those assets then appear on the balance sheet and, over time, get depreciated.

That type of bookkeeping makes sense. But you need to be careful that you don't go overboard on capitalizing assets.

Tax laws allow you to depreciate immediately (write off immediately) the costs of most assets used in a profitable business. And so you want to do that as much as you can. In other words, don't capitalize the chair. Or the 0 lamp. Or even the 0 computer. Instead, write off this stuff as "office supplies" expense or use (with your CPA's help) the Section 179 election to depreciate this stuff in the year you purchase.

You should, by the way, confer with your tax advisor about how you implement trick #5. But what you want to avoid is a situation where, after a few years, you have hundreds of nickel and dime items (pencil sharpeners, lamp shades and even old computers) littering your balance sheet.

Four Tips For Simplifying Your S Corporation Accounting
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Best-selling author & CPA Stephen Nelson practices public accounting in Seattle, WA. Nelson is also the author of do-it-yourself guides for setting up S Corporations in all fifty states. His most recent S corporation kit is for small businesses in California ( Click here for more information.)

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Payslip - Using a Template to Show Proof of Income

Being self employed means having the freedom to run your own business as you see fit. While you may no longer have to work for someone else and can dictate your own paycheck based on how much you want to work, it does come with a few drawbacks. The most noticeable one comes in not being able to easily prove your income should you decide that you need to apply for a credit card or a bank loan. Rather than have to show the lender your entire banking account you would be better off if you had a payslip.

Why do I Need a Payslip?

When you work as an employee for another company you are given a payslip that goes with your paycheck. Using a template your employer documents the hours you work, your gross salary and how much you were paid after all of your deductions were paid. When you are self employed, you are the only one who knows exactly how much you make; this can make it difficult for you to prove your income when you are applying for a loan. If you use a template to create your own payslip complete with all of the appropriate tax deductions you will have real proof of income. You can create a complete pay stub with your company name and address on it just like the one you would receive if you were working for someone else. If you do this every week you will always have proof of your income whenever you need it. Even if you do not actually write yourself a paycheck every week you should still make sure that you have some proof of your income available.

Payslip - Using a Template to Show Proof of Income

How Do I Find a Template?

There are several different places that you can look for a template to create almost any type of payslip including your local office supply store and the library. However, since most self employed people and small businesses rely on a computer to track all of their finances you would be better off to look online for your templates. Through a careful search of the different styles available online you should be able to find exactly what you are looking for. This way you can create an official payslip for yourself or any employees you might have that includes all of the necessary information pertaining to gross pay, taxes and deductions and a final net pay per week or whatever pay period you choose. This simple piece of paper will make it much easier should you decide to apply for a loan and need to show proof of income.

Payslip - Using a Template to Show Proof of Income
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If you are in need of payslip. Visit my website now where you can get helpful Payslip Template tips on: Payslip Template Excel.

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Revenue Accounting

Revenue accounting is the process of receiving, organizing and recording payments and invoicing, recording, tracking, and collecting loans and other types of debt receivable on customer accounts. Revenue accounting provides essential tools for determining and keeping track of the revenue generated.

In business, revenue means the income that a firm actually receives from its activities, especially from sales of products and / or services to customers. Consistent revenue growth is essential for a firm to attract investors to its publicly traded stock. However, revenue is less important than profit to investors. The word 'top line' is also used to represent the term 'revenue,' because in a company's profit and loss account, revenue is usually placed at the top, and all other costs and expenses below that.

'Revenue recognition' is one the four major principles listed in the US generally accepted accounting principles (GAAP). The other three include the 'historical cost principle,' 'matching principle' and the 'full disclosure principle.'

Revenue Accounting

Data capture, preparation, accounting, auditing, reconciliation, management reporting, and interline billing are the main processes involved in revenue accounting. Airline revenue accounting system is a good example. Its objective is to provide scheduled passenger airlines with a computerized solution to cater to the needs of passenger revenue accounting departments.

Revenue accounting has now grown more complex and auditors are now examining financial records in finer details. Unfortunately, many accounting systems do not handle complex revenue processes well because they are designed for simple revenue processes. You can automate revenue accounting by using software packages. They help you mange multiple business models, corporate entities, and currencies.

Revenue Accounting
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Accounting provides detailed information on Accounting, Accounting Software, Accounting Jobs, Accounting Services and more. Accounting is affiliated with Certified Public Accountant.

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