This week, another one of our clients fell victim to Social Engineering. An employee received an email to make a change in another employee’s payroll deposit bank account that went undetected for two months. The business owner had a clearly written policy to never accept written instructions for changes in bank account information. Yet the employee made the change. Our client spent hours filing claims, lost sleep from the horror and frustration of the situation, and spent thousands of dollars to make her employee whole. It’s time to educate yourself on Social Engineering so this doesn’t happen to you.
It can be confusing for small business owners to determine what professional service is needed. Typically, more than one service is necessary. Below are the differences in professional services available for you to determine which ones are best for your business.
If you pay your employees every other week but your income is recognized monthly, your revenue will not be matched to the expenses that helped earn it. On your income statement (P&L), expenses would be understated some months and overstated others.