Have multiple individuals handle the check as follows:
a. Get the mail, stamp each piece with a RECEIVED date stamp, open, sort and distribute it around the office
b. Log each check in a worksheet file (paper or electronic) with the following headings:
c. Make one copy of the check for the deposit file
d. Attach any paperwork that came with the check and give it all to the person who makes the deposits
a. Prepare and take the deposit to the bank
b. Give bank receipt and the copy of the checks to Bookkeeper (It is helpful to include the date of deposit on the check copies if the receipt is not attached)
a. Receive Payment in QuickBooks
b. Make Deposit in QuickBooks
Screen – opens: Called “Payments to Deposit”
Attach the bank receipt to all the copies of the checks that make up that deposit and put the paperwork in the bank folder for the month.
Reconcile the bank account at month end.
At your company, set up a segregation of duties. Embezzlement can go undetected for longs periods of time when the same person has too much control handling of the money. These steps are simple to implement, can be adjusted based on the numbers in your company, and could give you peace of mind.