How Can SMBs Avoid Payroll Fraud? ❌

[Fit Small Business | ]( Articles Recommended for You Based on your interests, we’ve picked the following HR articles to assist you with managing your business: [Paychex vs ADP vs Gusto: Pricing, Features & What’s Best in 2023]( We compared Paychex vs ADP vs Gusto and identified their pros and cons to help you decide which HR and payroll solution fits your needs. [Rippling PEO Review 2023: Is It Right for Your Business?]( Our Rippling PEO reviews article discusses the easy-to-integrate, intuitive system’s key features and pricing. See if it fits your needs. [Globalization Partners Review 2023: Is It Right for Your Business?]( Looking for global payroll and HR services? Read our Globalization Partners reviews article to determine if it’s right for your business.                 Our Experts Topic of the Week: Payroll Fraud Have you looked at your payroll security recently? Do you have the tools to detect and prevent payroll fraud? Arming your business against potential fraudulent activities can help you avoid detrimental losses, but what are the warning signs you should watch out for? Check out some of our top ranking articles that will cover everything you need to know.   [Understanding Payroll Fraud]( //link.fitsmallbusiness.com/click/33871191.18202/aHR0cHM6Ly9maXRzbWFsbGJ1c2luZXNzLmNvbS9lbXBsb3llZS1yZXRlbnRpb24v/5da4de6d3f92a45a8360dd30C34236ae4[1. Understanding Payroll Fraud]( Payroll fraud occurs when a worker cheats the system to get a higher paycheck. Small businesses are more likely to be at risk than larger ones because they place a higher level of trust in their employees and often have fewer safeguards in place. Payroll fraud can happen in so many different ways and can often be very hard to detect. Our guide breaks down how to detect it & prevent it. [14 Employee Retention Strategies to Keep Your Top Talent](   [ Maintain a Strong Payroll Security]( [2.](Maintain a Strong Payroll Security Payroll security involves taking steps to ensure that sensitive company and employee information isn’t compromised by employees or outside actors, like hackers. Common sources of payroll security issues include timesheet fraud, pay rate alterations, and data breaches—though the exact nature of these varies by the type of business. [Payroll Security: 10 Tips to Keep Your Business Data Safe](   [ave Strong Internal Controls in Place]( [3.](Have Strong Internal Controls in Place Payroll internal controls are the processes and procedures your small business follows to protect confidential payroll data, prevent payroll fraud, and ensure no pay-related mistakes are made. Limiting access to payroll records, creating a checks and balances process, and using payroll software are all great ways to control access to your company’s payroll. Our guide will detail what we believe to be the eight best practices for establishing payroll internal controls. You can also download a free checklist as a quick reference for your business. [Payroll Internal Controls: 8 Best Practices (+ Free Checklist)](         Meet Fit Small Business’ HR & Payroll Experts   [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [Heather Landau]( [Jennifer Soper]( [Robie Ann Ferrer](   [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( Want to Join Our HR Community? Check us out on LinkedIn! [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [Juvy Vallescas]( [Genevieve Que](   Happy New Year to our Fit Small Business family! Tune in for our first newsletter send of 2024 where we’ll cover everything you need to know about celebrating employee milestones. 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