Hiring an office manager: how do you deal with account passwords?

As our startup is growing, and in order to provide more time for the founders to work on the business instead of administrative tasks, we'll be hiring an office manager. This person would be responsible for things like ordering supplies, booking travel, doing some bookkeeping.

How do startups deal with sharing credentials for accounts like credit card logins, banking credentials, travel site's user name passwords, etc?

This question could be relevant for people who hire virtual assistants on ODesk as well. Do you share your username and passwords in order for them to do these tasks? Is there any security risk in doing so?

For our banking and accounting applications we have multiple users setup. I can always see what each user does when they are logged in, and I can set permissions to allow or deny them access to certain areas. For things like payments, other users can load them into the system, and then I go through at the end of the day and click one button and it pays them. So two levels of security.

I think you have to have an element of trust. Most people in this world are good people, and whilst some people aren't honest the majority are.

My suggestion would be to not give all the information to the new employee at once, instead build trust and give them more responsibility as that trust builds. Also regularly do a check of bank accounts, card transactions, and perhaps update your passwords on a monthly basis.