Quickbooks Desktop is THE way

Online: I'd say yes, likely many.

#TeamQuickbooksDesktop ftw!!!

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How should I record it if the funds are not recovered?

Thank you for participating in this thread, Acct2955. I'm here to help you record the funds that have not recovered yet.

You can create an expense transaction, and I'll be glad to walk you through the process.

Here's how:

1. Go to the +New button and select Expense.
2. Fill in the other necessary details.
3. Save and Close.

We can save the expense transactions even without a vendor. All we have to make sure is that we've selected the correct expense account for fraud and the affected bank.

In addition, I'd recommend reaching out to your accountant when editing your books. They know the proper steps to go about it and prevent unwanted inaccuracy.

You can check this article on how to use different reports and projections to get a clear look at your business finances: Use reports to track cash flow in QuickBooks Online.

Feel free to get back if you have any other concerns about recording your transaction. Don't hesitate to comment below. Stay safe.

We had fraud on our bank account of over 100K.  I like the current asset concept as we got most of the money refunded in the next year. The money not refunded I'll expense at the end of the next year.

What did you name the Other Current Asset?

Thanks Mike

Thanks for joining this thread and sharing your concern, Mike.

I'm here to lend a hand to provide information about managing your accounts in QuickBooks Online (QBO).

I can imagine the experience you've been through when your bank had to deal with fraud issues. I also appreciate your interest in the current asset concept. Regarding the name of the Other Current Asset, it ultimately depends on what name you prefer to give it.

If you need additional assistance or have further questions regarding your books, I recommend reaching out to your accountant. They can provide you with professional advice and ensure the accuracy of your account. If you don't have one, you can use our accountant tool to look for one.

For more information on adding accounts to your chart of accounts, check out this handy reference: Add an account to your chart of accounts in QuickBooks Online.

If you want to make one inactive, you can also read this guide for a detailed process: Make an account inactive on your chart of accounts in QuickBooks Online.

Feel free to reply on this thread if you have further concerns about your accounts in QBO. I'm here to help. Take care always.

My CC was just used in A fraud situation overseas. It never leaves our side. I couldn't figure out how anyone stole our CC. Are you saying it may gave been stolen off QB? 

Thanks for bringing this matter to our attention, Serenity. Security and keeping your account safe is one of our top priorities. I'm here to help ensure to prevent this card fraud in QuickBooks.

Credit card fraud can stem from various reasons, and it's important to investigate each possibility thoroughly. Credit card information can become compromised through opening unrecognized emails or visiting websites outside of QuickBooks where you may have inadvertently provided your credit card details.

If these incidents occurred outside of QuickBooks, we cannot confirm the specific details or origins of how your credit card information may have been compromised. However, we take security very seriously and continuously monitor our systems for any signs of unauthorized access.

Intuit employs multiple safeguards to prevent fraudulent transactions, including the utilization of advanced fraud detection technology and constant monitoring of your account activity, ensuring comprehensive protection.

To know more and understand why these fraudulent charges went undetected, I suggest contacting our Customer Support Team. They have secure access to your account and can review the logs about these charges. They can also determine the cause to ensure it won't happen again.

Here's how:

1. Go to the (?) Help icon.
2. Select Talk to a Human.
3. Enter a short description of your concern.
4. Click on I still need a human.
5. Tap Contact Us to connect with our live support.
6. Choose to Get a callback.

Furthermore, I have included these articles that offer valuable insights on safeguarding your business account and data against fraudulent activities:

• Security notices
• Data Security and Fraud Prevention
• Identify Suspicious Activity, Phishing Scams, and Potential Fraud

I also included this page in our online resources for future reference. This page covers installing and syncing apps, tracking employee time, and setting up online payments.

The Community is always available and open for you to respond with any more questions or concerns regarding security and fraud management.