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Teeming and lading is a bookkeeping fraud also known as short banking, delayed accounting, and lapping. It involves the allocation of one customer's payment to another customer's account to make the books balance, often to hide a shortfall or theft.

Teeming & lading is a method by which a person who takes or handles payments uses the money personally for some days and posts the transaction later. The handler receives cash, and uses it for personal purposes instead of depositing it. A common practice trait in this fraudulent activity is that the amounts received from the subsequent debtor is credited to the earlier debtor's account so that one debtor's account does not show an outstanding balance for a long time. To make up the shortfall, when another payment comes in, the handler will deposit that money against first money used, and does not show the new amount received until later. Such a process is continued until the time the original amount misappropriated is finally replaced or until the cashier is caught.

Another similar strategy is applied when remittances are received by means of cheques, where cheques are split up to record payments. This is known as splitting cheques. By encashing the cheques, less amount is credited to the debtor and rest of the amount is misappropriated.

Auditors look during the vouching process as part of the verification of transaction to identify teeming and lading.

References

Wells, Joseph T. (February 1, 2002). "Lapping It Up". Journal of Accountancy. Retrieved 25 April 2015.
"What is lapping? definition and meaning". BusinessDictionary.com. Retrieved 2018-01-24.
Staff, Investopedia (2006-06-19). "Lapping Scheme". Investopedia. Retrieved 2018-01-24.
Business & Financial Plannings

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+{{Short description|Bookkeeping fraud}}
-{{Orphan|date=November 2010}}
-'''Teeming and Lading''' is a method or practice adopted in accounting. It involves the allocation of one customer's payment to another in order to make the books balance and often in order to detract from a possible shortfall. This process is often continued until it gets discovered. It is also known as ''Short Banking'' or ''Delayed Accounting'' or ''Lapping''.
+'''Teeming and lading''' is a [[bookkeeping]] [[fraud]] also known as '''short banking''', '''delayed accounting''', and '''lapping'''. It involves the allocation of one [[customer]]'s [[payment]] to another customer's account to make the books balance, often to hide a shortfall or [[theft]].
+Teeming & lading is a method by which a person who takes or handles payments uses the money personally for some days and posts the transaction later. The handler receives cash, and uses it for personal purposes instead of depositing it. A common practice trait in this fraudulent activity is that the amounts received from the subsequent debtor is credited to the earlier debtor's account so that one debtor's account does not show an outstanding balance for a long time. To make up the shortfall, when another payment comes in, the handler will deposit that money against first money used, and does not show the new amount received until later. Such a process is continued until the time the original amount misappropriated is finally replaced or until the cashier is caught.
-Another similar strategy is applied when remittances are received by means of cheques, where cheques are split up to record payments. This is known as ''Splitting Cheques''. Here by encashing the cheques, less amount is credited to the debtor and rest of the amount is misappropriated.
+Another similar strategy is applied when remittances are received by means of [[Cheque|cheques]], where cheques are split up to record payments. This is known as ''splitting cheques''. By encashing the cheques, less amount is credited to the debtor and rest of the amount is misappropriated.
-Auditors pay special attentions during the [[Vouching (Audit)]] process as part of the verification of transaction to identify Teeming and Lading kind of accounting.
+Auditors look during the [[Vouching (financial auditing)|vouching]] process as part of the verification of transaction to identify teeming and lading.
-[[Category:Accountancy]]
+==References==
+{{inline citations|date=January 2018}}
+* {{cite journal|last1=Wells|first1=Joseph T.|title=Lapping It Up|journal=Journal of Accountancy|date=February 1, 2002|url=http://www.journalofaccountancy.com/Issues/2002/Feb/LappingItUp.htm|accessdate=25 April 2015}}
+* {{Cite web|url=http://www.businessdictionary.com/definition/lapping.html|title=What is lapping? definition and meaning|website=BusinessDictionary.com|language=en|access-date=2018-01-24}}
+* {{Cite news|url=http://www.investopedia.com/terms/l/lappingscheme.asp|title=Lapping Scheme|last=Staff|first=Investopedia|date=2006-06-19|work=Investopedia|access-date=2018-01-24|language=en-US}}
+* [https://pmwplus.com.au/ Business & Financial Plannings]
+[[Category:Finance fraud]]
 [[Category:Auditing]]
+{{accounting-stub}}