stolen credit card used

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  • Updated 1 month ago
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A stolen credit card used to purchase from us in Feb and then the bank took the money back in March. How do i enter this ?   I'm currently doing the March rec to get the BAS done by EOM. We use Premier 2017.  I ticked accounts hosted as premier was not there to choose
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StaceyL123

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Posted 1 month ago

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Glenda Veale

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I would raise an adjustment note for the amount and then refund via the bank entry.
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Kevin Russell, Accredited Partner

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Depends how you recorded it originally.Great to see the banks acting on CC fraud. Its safer than cash these days
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StaceyL123

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Hi Kevin, I recorded it as a customer invoice - c/c payment over the phone- deposited funds - once cleared in bank and then month later bank took the money back. 

I will tell the accountants about it because the goods went to someone for free.  It's not really a refund and we got the goods back.    My advice to all businesses is to have a credit card authorisation form to be filled out and returned before processing over the phone payment.  When you put in the credit card manually that actually forces the payment and the bank can't let you know it's stolen. thanks for the help