Forum Discussion

Mel7070's avatar
Mel7070
9 months ago

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?...
  • Princess_R's avatar
    Princess_R
    9 months ago

    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

Princess_R's avatar
Princess_R
MYOB Moderator
9 months ago

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

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