Don't pay phony invoices

Businesses are cheated out of millions of dollars every year with invoices for goods or services that were never delivered. Phony in-voices once paid often will be followed by additional billings for publications, services, or supplies not delivered. Such schemes are successful because many businesses have slipshod procedures for approving and paying bills.

Here are some techniques that should reduce the chances that your company will fall prey to a billing scam.

• Inform your staff that they are never to give equipment model or serial numbers to callers. If the vendor is legitimate, he will allready have the necessary numbers.
  
• Payments should be made only when supporting documents, such as invoices, receiving reports, purchase orders, and packing slips, have been reviewed and approved.
  
• Always pay on the original invoice only; do not pay on copies or duplicates. Payments should not be made on monthly statements that can include prior-paid items. Also, monthly statements seldom have the detail necessary to determine legitimate charges.
  
• Mark on the face of the invoice the date of payment and the check number.

You might want to review your company's purchasing and paying policies to make your company less of a target. For any assistance you need, please contact us.