fraudulent transactions
Hi
We processed a visa transaction through spend money and reconciled the account. The following month, the bank refunded the spend due to it being fraudulent. How do we record the returned funds?
Hi Mel7070,
Thank you for your post.
In response to your query about recording the returned funds due to a fraudulent transaction, you can handle this by recording it as a "Receive Money" transaction. This will allow you to allocate the refunded amount to the correct account, effectively accounting for the movement of money.
Feel free to create a new post again if you need further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.
Cheers,
Princess
