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A payroll error resulted in a small company losing close to €20,000 and an Irishman being jailed for 4 years.
The Irish company, Industrial Insulation Specialists, mistakenly put a decimal point in the wrong place while paying an employee for two days work – instead of paying the employee €196.36 they paid him €19,636. The simple error made by one of the company director’s lead to significant business and personal difficulties.
The 19 year old employee had “an incredible temptation presented to him” and, before the company realised their error, the teenager withdrew most of the cash before spending the balance with his debit card.
The small company tried to contact the employee and sent solicitors letters in an attempt to get reimbursed before contacting Gardaí. None of the cash has been recovered and no repayments were made.
The teen has been sentenced to four years in prison with the final two years suspended.
It’s a terrible shame that such a small error led to such a significant impact to both employee and employer. Payroll accuracy is vital for all businesses and employees. Having the right processes and systems in place can ensure accuracy. Payroll can be a very complex and time consuming process; absenteeism, holidays, sick leave, overtime, maternity leave, BIK, revenue obligations etc. all add up and can take its toll on businesses that are not specialists in payroll.
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Here at PaycheckPlus we provide payroll outsource solutions so small, medium, large and even multinational businesses can focus on their core strengths and making money rather than on payroll paperwork. To ensure payroll accuracy and for expert support contact PaycheckPlus today.
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