The former bookkeeper for a real estate company in Louisville, Kentucky, was arrested after an accounts payable audit revealed that she had stolen more than $11,000 from her employer for nearly a year.
According to WDRB-TV, authorities state that Constance Short worked for Bailey Property Management and was in charge of many financial processes. An AP audit discovered that between January and December 2009, Short created two unauthorized checks from the company’s accounts and made them out to herself. Before cashing them, she made one copy of each check, resulting in duplicate payments from Bailey’s funds. She then deposited the checks and used the money to pay for various personal items, the news source reports.
In addition, Short is accused of failing to deposit funds into the company’s accounts from tenants’ rent payments, the source notes. She also allegedly used a credit card belonging to Bailey to make purchases and pay for services. To hide her theft, investigators state that Short altered financial records in the business’ software platform to make it appear as though money was being deposited and all finances were in order.
Accounts payable audits can be used by businesses in any industry to uncover misappropriation.