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How to protect yourself against fake invoices, by small business accountants in Sydney

While the means and methods of fraudulent accounting are always evolving to evade new protection measures, there are a number of ‘tried and true’ basic tricks. Our small business accountants in Sydney will tell you how you can protect yourself against these kinds of acts.

Fake Invoices can come in two forms:

  1. Invoices for work and products that were never ordered
  2. Legitimate invoices on which the payment details have been modified, whereby the money paid goes into the fraudsters account

Here are two simple tips on how you can protect yourself against fake invoices:

  1. Implement a purchase order system, abide by it religiously and compare invoices to purchase orders regularly before paying for them. Developing a purchase order system can be fairly difficult so feel free to contact our business accountant for any help.
  2. Randomly check invoices with previous invoices for the same business and if payment details have changed make sure you question the business.

Fraud in the business world is still very prominent and we need to make sure that we do everything we can to stop it from happening to us. Feel free to contact our small business accountants in Sydney for any advice.