To Pay Or Not To Pay

by Kenneth Hoffman in

One scam that's effective is to send phony bills to businesses. Small businesses can be vulnerable because no one has the time to check with the boss or research the invoice. If there's any doubt as to the amount or validity of the bill, it should be checked. But it shouldn't hold up processing other invoices.

While the bills can be true scams from companies that provide no services and/or ones you never dealt with, they can also come from vendors who just continue to bill you for services that you may no longer need. For example, you decided to cancel the service contract on the forklift you now rarely use, or the copy machine that's been relegated to a corner of the warehouse. And make sure you have a system for not paying the same invoice twice.

Automatically paying invoices can be costly. Having a policy of reviewing them can also allow you to reconsider expenditures that you may no longer need. And individuals are not immune. Scammers have used the same approach on individuals for extended warranties, etc.

If you have any questions about this topic, tax law changes, business tips, or how to become a client, please call us at 954-591-8290 or use our Contact form.