Question

Stolen Vendor Check

Forum|Forum|3 years ago
November 7, 2022
1 reply
0 views

I mailed 3 checks to a vendor for account payment. Those checks were stolen from the vendor mailbox and deposited by mobile banking to another account. These checks have cleared our bank. We are handling it with our bank and a police report has been filed. We still owe this money to the vendor so how do I fix the checks in Quickbooks.

QuickBooks Desktop

M

mv32

Level 8

Hi, @katp1964.

I know this could be disappointing paying those expenses twice. No worries, I'm here to guide you on how to take care of the stolen vendor checks recorded in the system.

In your case, you may want to delete the three checks created in QuickBooks. Then you can record the stolen vendor check as a bill and pay the bill to a proper expense account.

Make sure to take note of the details and then continue to create a new bill. Go to the entered bill and select Pay Bill. This will allow you to re-enter the check with the noted details, like the check number and date. Also, I'd recommend consulting with an accountant to guide and provide expert advice in choosing the appropriate expense account.

On the other hand, since you still owe this money to the vendor, you may want to write a new check for your vendor or settle this with your vendor since they were stolen from the vendor's mailbox.

If there's anything else I can do to assist you, let me know. I'm always here to help you out. Stay safe and well!

C

CSM-T

Why would we delete those checks? Especially if those checks were cashed?

W

Whitecat

@CSM-T

I would ignore the replies from QB employees on this.

I would suggest changing the expense account on the bills where the payments were stolen to an expense account called 'Loss due to theft'. Then, re-enter the bills to the appropriate expense/asset account and pay them. You can then clear the stolen checks as well as the new ones when they clear. If you get the issue resolved with the bank and the money is recovered, create a deposit and assign the same Loss due to theft account to the deposit. The deposit will zero out the Loss due to theft expense account.

How would you resolve a stolen vendor check payment from a previous period (year). We had a check mailed to our vendor (which was stolen out of their mailbox). The check was then "check washed" and duplicated essentially creating two bogus checks which cleared our bank account. We still owe our vendor for the invoice.

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