We are a hardware reseller. customer has paid by credit card, our concern is what would happen if customer is a fraud and used a stolen credit card?

You need to call your Credit Card Processor and check with them.  There are different levels of protection and they all either come from your Processor or from whatever type of Insurance Policy you have taken out. 

If you stray outside of what your Processor tells you is covered, then basically it is your loss, unless you can (and what to) make an insurance claim.  So you'll need to weigh the risks of the occasional loss against the profits you'll be making from the legitimate sales.

There also may be some "losses" that can be written off your taxes.  But that's something that you'll need to discuss with a Tax Accountant as there are multiple variables.

Processor is quickbooks which is why question is here.

Hi, go5llc.

Fraudsters can more easily maintain fraudulent activity over email, or other online communication. Many payment fraud schemes start with standard behavior.

The following are red flags that might indicate this behavior:

• The credit card name doesn’t match the invoice name.
• The Zip code on the invoice doesn’t match the billing address zip code.
• Ship to address is a reshipper address.

   

  • Drop-Shipping.
  • Paying for shipping up front.
  • Shipping instructions include reshipment.

You can stop the payment if you see any of the red flags above. To know more about how QuickBooks handle this kind of situation, you can go through the following resources below:

Detecting & Mitigating Fraud.

How you can help protect your business from fraud.

Additionally, I'd suggest getting in touch with our QuickBooks Support. All accounts related concerns need to be directed to our Phone Support for security purposes. You would have to call since bank information is confidential.

I'm always here to keep helping if you have any other QuickBooks concerns. Have a good one.

Customer has paid to our quick book invoice and QuickBooks has deposited the money to our bank account. now the concern is if customer ask for refund after getting the product delivery or some one reports that they had lost this credit card and bank marks it a fraud transaction then how it will impact us. what will quickbooks do? Will QuickBooks access my bank and take out the money and pay back or pay back & ask us to pay the dues, or use our other payments to pay back this customer?