5 Tips on How To Keep Your Business Money Safe

In business, as with everything else, a focus on the safety of your money in business is a must. With so many break-ins and breaches electronically, it can be hard to understand why your money is at more risk than normal. Here are some simple tips for you to keep the money in your business safe. 

1.Keep A Watch on Your Bank Balance

This might seem to be a no-brainer. However the sad fact remains that most business owners don’t keep a check on credit cards receipts and bank account balances. Once they find out about a breach or break in, it is by then much too late to stop it from happening. If that happens, you may be forced to turn to cheap creative fundraising solutions for your business to keep the cash flow in the black.

2.Utilize One or Two Credit Cards Maximum

Some business owners may have more than two credit cards for their business. This can make it hard to track expenses. When paying bills, purchasing resources or anything business related, carry one to two credit cards. This way if one is stolen, it can be cancelled and the other can be utilized. In this same manner only allow one or two people access to this information and to your card for business.  Use credit cards only and not debit cards. The reason being for this idea is that you can more easily dispute fraudulent charges if you use a credit card versus a debit card.

3.Securing Your Online Accounts

This is very important to the business owner. If you have online accounts, be certain to use only the pages with the https connotation. These are often more securing than a regular http page. In this same notation, change passwords regularly, especially if someone leaves the company that knows the login information for these accounts. Also use encryption for your passwords to add an extra layer of security to your online accounts.

4.Use Only Well Known Retailers Online

Trouble can be caused when you shop at an unknown retailer for your business needs. To avoid this problem, use only well known retailers online that have the TRUSTe sign on them. While you may think that you are getting a great deal from a lesser known retail entity, this is not always the case and can lead to your identity and bank accounts being utilized for fraudulent purchases. Buyers beware in this case of little known retailers that do not have the aforementioned TRUSTe item on their pages online.

5.Balance Your Ledger

Spot checking and keeping a balanced ledger can also prevent problems down the road. Businesses do get ripped off by greedy employees at times. Keeping a balanced checkbook and ledger sheet will tip you off if there is a problem with suspicious purchases. Once noted, follow your business’s internal laws for fraud prevention and prosecution. If you see red flags, then certainly investigate the cause by verifying credit card receipts and who purchased what, when.

Following these tips can certainly help you root out problems and keep your money safe. Businesses are very likely to get ripped off just as easily as a consumer can be. So the additional steps taken can be a lifesaver to you and your company and save a lot of headache and grief when dealing with fraud and ID theft. Keep your business safe with these five tips.

Author Bio:

Anna Bülow has utilized cheap creative fundraising solutions for her online business such as crowd funding. With her knowledge, she can help you with the same solutions.