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nancyl
Level 4

How to post fraudulent credit card transactions?

I had a few fraudulent transactions on my website. We refunded the money to the card however the equipment was shipped and received. We paid the vendor for the equipment, so we are at a loss for that. I wrote off the payment on the invoice but I don't know where to put the actual loss of the equipment that we paid for?  

Solved
Best answer September 10, 2021

Best Answers
Rustler
Level 15

How to post fraudulent credit card transactions?

There is nothing to write off after you do that for the sales income.

 

The equipment you shipped out should have posted to the Cost of Sales account, that is an expense.

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1 Comment 1
Rustler
Level 15

How to post fraudulent credit card transactions?

There is nothing to write off after you do that for the sales income.

 

The equipment you shipped out should have posted to the Cost of Sales account, that is an expense.

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