QB Issue Resolution:

You can create an expense account, and name it something like “Company Theft Loss” or whatever is the most convenient for you.

  1. On the left panel menu, click Accounting and go to the Chart of Accounts tab.
  2. Click New, and choose Expenses as the Category Type.
  3. Choose the Detail Type. If you’re unsure of the detail type, I suggest consulting an accountant.
  4. Enter the needed information.
  5. Click Save and Close.

Then, create an expense transaction to record the stolen amount.

  1. In the upper-right corner, click the Create menu (gear icon) and select Expense.
  2. Choose the payee name (the one who stole the money).
  3. Choose the petty cash account as the affected bank account.
  4. Enter the expense account, and the stolen amount.
  5. Click Save.

If you want to create a new petty cash account, you can follow the steps above on how to create a new account. Just choose Bank for the Category Type, and choose the detail type. Enter the needed information, and click Save and Close.

Resolution for Issue 'How would I record in petty cash, money that was stolen. Would I start a new account.' available: Yes (Solved).
Source: Intuit Community forum.

How would I record in petty cash, money that was stolen. Would I start a new account.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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