Embezzlement takes place far too often in dental offices. I've seen it many times. Here are some practical tips to safeguard your practice's finances:
- Be sure your book keeper takes vacations of one week or more.
- Be involved with your practice. Abdication of management control leads directly to these problems.
- Review and compare the day sheet, appointment book, and deposit slips.
- Check for and review adjustments.
- Sign off on the Day Sheet each day.
- Stamp checks “For Deposit Only” as they are opened or received.
- Where possible, get to know your banker. Personally meet with them and implement a policy that you, and only you, can make account changes or add new accounts.
- Bond employees responsible for financial aspects of the office.
- Make deposits daily rather than accumulating deposits at the office.
