How do I explain unauthorised bank debits and credits through the books

Question asked by Amanda Parker 5 years ago

Hello There

We have had a number of unauthorised debits from our business account, these have been credited back but I am unsure how to explain the transactions, I do not want to delete them as we would lose the history of the fraud and they will be on the bank statement, can anyone help?

file

file

Write reply3

3 Replies

Hi Amanda,

I would say the best way is to create an account code for this and to assign both the money out and the refund to this account code to demonstrate it was unauthorised. I would also advise definitely speaking to an accountant to be safe.

All the best,

Mohamed.

Best answer
5 years ago

Hi Mohammed

Thanks very much for this, that makes complete sense I will check with our accountant.

Amanda

5 years ago

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are

Apps

Company

Social