Consider aShortened or Extended Workweek or Shifts, Flex-Time, or Remote Work Programs

Be Suspicious ofEmployee Theft.

• Hire honest people; do this by performing background checks on all hires.
• Train staff in how to spot fraud and make it easy/anonymous for them to report fellow workers.
• Have employees sign a code of ethics that spells out the penalty for violations.
• Make oversight obvious by installing surveillance cameras, performing surprise audits of expense accounts, and periodically having employees spot-check one another’s work.
• Require all employees to take vacations at least once a year–this is when many such problems are discovered.
• Put checks and balances in place to prevent theft. For example, the person who does the bookkeeping should not also sign checks. –Kate Lister

Tie EmployeePerformance to Profit or Cash Flow

Identify FiveThings You’re Spendingon That Aren’t Contributing to Your Bottom Lineand Eliminate Them

1. Do you really need that water cooler service or bottled water? Studies show that most tap water is as good or better.
2. Do you pay fees on your checking account? There are plenty of no-fee accounts available. Before you go to the trouble of changing banks, pay a visit to your branch manager and see if they’ll waive the fees–most will.
3. Do you have a separate fax line that you rarely use? If so, cut the cord and use an online fax service or combine the fax line with your standard phone line.
4. Do you pay long-distance fees? If so, make those calls free via Skype.
5. Is your telephone, internet access and cable with different carriers? If so, look for a deal that combines all three.

Set Up Income,Expense, Asset and Liability Categories in Your Accounting System