Ezra 8:33-34 “On the fourth day, in the house of our God, we weighed out the silver and gold and the sacred articles into the hands of Meremoth son of Uriah, the priest. Eleazar son of Phinehas was with him, and so were the Levites Jozabad son of Jeshua and Noadiah son of Binnui. Everything was accounted for by number and weight, and the entire weight was recorded at that time.”
Principle: Keep accurate records, have the books audited and spread the responsibility for bookkeeping, accounting, and auditing to several people. Establish a system of reporting that red flags irregularities.
My friend Ben put all his business’ financial matters into the hands of one trusted employee and it cost him $100,000+ in stolen funds over a period of years. He ignored the business principles of checks and balances and placed too much trust and not enough oversight in the accounting department.
The thriving business had annual sales of several million dollars with a healthy profit margin and all the financial responsibilities were covered by one employee who never took a day off and never went on vacation. Unfortunately, that employee was also a thief.
Running a business “by the Bible” includes fiscal responsibility and accountability. Help ensure this by sharing the bookkeeping responsibilities among a few trustworthy bookkeepers. It’s a decision that will honor God and may save your business from ruin.
Discussion:
1. What safeguards do you have in your business to prevent embezzlement?
2. How often do you audit the books?
3. How often do the auditors catch irregularities and how are they reported?
