Credit Card Fraud - Duplicate balance

cats1life · ‎March 11, 2022

I have a linked credit card that was compromised due to fraudulent charges. The card was shut down and a duplicate card issued. Let's say the balance was $5000 on the date of shut down. A new card was issued and I linked that card to my QB and it had an opening balance of $5000.

There didn't appear to be a way to transfer that balance of the original card to the new card, since the original card was shut down and it was not a balance transfer.

How do I get rid of the original card's ending balance so that it doesn't appear that I have $10K in credit card debt?

MichelleBh · ‎March 11, 2022

I can't let this happen to you, @cats1life .

I have a workaround to help fix your credit card balance in QuickBooks Online.

With this, I'd suggest creating a Journal Entry to resolve your credit card balances. Before that, please seek advice from an accountant on this matter. They can help you choose the appropriate account to use. If you don't have an accountant, check this link to get one: QuickBooks Certified ProAdvisor.

Once confirmed, you may now create a Journal Entry. Visit this article for more details: Create a journal entry in QuickBooks Online.

Moreover, don't forget to categorize the transactions and reconcile your banking account.

Lastly, feel free to visit these articles below on how to fix reconciliation and upload bank errors in QuickBooks:

Drop a comment below if you have any other concerns, and I'll get back to you as quickly as possible. Keep safe, cats1life.

Rainflurry · ‎March 12, 2022

@cats1life

Create a journal entry - debit the old card for $5,000, credit the new card for $5,000. Or, reassign the existing charges to the new card.

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Credit Card Fraud - Duplicate balance

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