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The 2 main types of payroll fraud from your employees, explained by your small business accountant in Sydney

Most of the time when people think about employees stealing from a workplace, it would be based around tangible items when the reality is there are even more costly forms of fraud that are happening to businesses of all sizes. Our small business accountants in Sydney will run you through the three main ways employees are scamming their workplace.

Your business accountant should always be on the lookout for any type of fraud when it comes to your payroll. Here are three of the most overlooked fraud cases:

• Timesheet fraud – this where employees are not putting in the correct hours that they have been working, which results in the employer paying more than required – worst case scenario for this is when the payroll clerk is on the scheme bumping up the hours of your employees
• Ghost employees – now this where an employee may have left your workplace but never got taken off of the payroll, so their pay has still been processed into an account of the payroll managers choice. On the other hand, this could also be a fake employee or someone who has never worked for you and is still getting paid

It is important to always keep a close eye out for any unusual behaviour involved in your business. As small business accountants in Zetland, we’ve seen too many businesses fall victim to cases like this and lose money.

Feel free to get in contact with our small business accountants in Sydney if you have any questions, or browse through our range of services here.