Need help with vendor check that was stolen

Robin1927 · ‎August 27, 2024

Help

Wrote a check to subcontractor. Check was stolen and deposited via mobile deposit. Bank did credit our account but I'm unsure how to handle the transaction so the subcontractor's 1099 will be correct

earllanm · ‎August 27, 2024

Thanks for sharing your concern about the stolen check, Robin1927. I'm here to guide you on how you can resolve this in QuickBooks Desktop (QBDT).

It's necessary to record checks issued to your subcontractor. You can create an expense account and reassign the stolen check for tracking purposes.

Here's how:

Go to the List menu, then click Chart of Accounts.
Select Account, then click New to create.
Tick the Expense, then input the Account Name.
Hit Continue.

Once finished, you can edit the check issued to the subcontractor and recategorize it to the recently created expense account. Then create a bank deposit to record the credit received in your bank account and assign it to the expense account to zero the amount.

Here's how:

Under the Vendor menu, select Vendor Center.
Locate and click on the sub-contractor at issue.
Find the check and double-click to edit it.
In the Expense tab, assign the amount to the recently created expense account.
After that, go to Banking and click Make Deposits.
Choose the correct bank account where the credited amount is.
Under From Account, find the expense account recently created.
Enter the amount of the check.

You can refer to this article when running a 1099 report to ensure the correct details of your subcontractor: Create 1099 reports in QuickBooks.

Moreover, you can visit these links on reissuing check payments and fixing missing contractors in QBDT:

I'm prepared to provide further information about stolen vendor checks by commenting below. I'm available around the clock to provide relevant information. Have a good one.

View solution in original post

earllanm · ‎August 27, 2024

Thanks for sharing your concern about the stolen check, Robin1927. I'm here to guide you on how you can resolve this in QuickBooks Desktop (QBDT).

It's necessary to record checks issued to your subcontractor. You can create an expense account and reassign the stolen check for tracking purposes.

Here's how:

Go to the List menu, then click Chart of Accounts.
Select Account, then click New to create.
Tick the Expense, then input the Account Name.
Hit Continue.

Once finished, you can edit the check issued to the subcontractor and recategorize it to the recently created expense account. Then create a bank deposit to record the credit received in your bank account and assign it to the expense account to zero the amount.

Here's how:

Under the Vendor menu, select Vendor Center.
Locate and click on the sub-contractor at issue.
Find the check and double-click to edit it.
In the Expense tab, assign the amount to the recently created expense account.
After that, go to Banking and click Make Deposits.
Choose the correct bank account where the credited amount is.
Under From Account, find the expense account recently created.
Enter the amount of the check.

You can refer to this article when running a 1099 report to ensure the correct details of your subcontractor: Create 1099 reports in QuickBooks.

Moreover, you can visit these links on reissuing check payments and fixing missing contractors in QBDT:

I'm prepared to provide further information about stolen vendor checks by commenting below. I'm available around the clock to provide relevant information. Have a good one.

Robin1927 · ‎August 28, 2024

Thanks for the help! Problem solved

ReymondO · ‎August 28, 2024

Thanks for responding to the thread, @Robin1927.

I’m really happy to hear that the information was helpful. It’s always uplifting to get positive feedback from our valued customers.

The Community is here to support you whenever you need advice. If you have any more questions or concerns, feel free to reach out. Have a great day!

scw23 · ‎October 14, 2024

Good afternoon,

I was trying to follow the instructions, but when I double-click on the check that was issued, I don't have an 'Expense tab' on the check where I can code it to the newly created expense account for Fraudulent Activity. How else can I ensure the washed check is coded correctly?

Thank you,
Mandy

Sherrie_F · ‎October 14, 2024

Thanks for chiming in, @scw23. I get how challenging it can be when things don't go as planned—especially with coding a washed check. But don't worry, you're not alone in this. Let's tackle this together and get your financial records back on track.

To start, you can follow the suggested solution provided by my colleague above for accurate coding of the washed check. I can see that you don't have the Expense tab on your check transaction, to guide you better, you can see this screenshot as your reference:

If the option is still missing, I'd recommend verifying and rebuilding your data. This process resolves errors and other issues in the software. To do this, please follow these steps:

Go to the File menu.
Select Utilities.
Choose Verify Data, then click OK to close all windows.

If there are still problems with your company file, you'll have to rebuild it.

Here's how:

Go to the File, then click Utilities.
- Choose Rebuild Data, then select OK to close all windows.QuickBooks will ask you to make a backup before rebuilding your company file, select OK. If you don’t want to do a backup, choose Cancel to continue rebuilding your company file. If you haven’t set up any backup preferences, QuickBooks will ask you to update them. Click the Backup Preferences and edit as needed, then select OK.
- When the backup's finished, select Show in Finder to locate the backup or select OK if you’re done.
Once the rebuild is finished, select OK.

Additionally, here's an article you can browse just in case you want to review how QuickBooks grouped and recorded the bank deposits at the end of the month: Automatically record QuickBooks Payments bank deposits in QuickBooks Desktop.

Your concerns are important to me so please don’t hesitate to let me know in the comments below if there's anything else you need further assistance with. I'm eager to provide the support you need to streamline your check process and ensure everything runs smoothly.

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Need help with vendor check that was stolen