QB Issue Resolution:
If the company got scammed for 2500, there is no bad debt, the money is gone.
Create an expense account called fraud expense
Since you did not say what the payment was for, you will have to make the decision in the journal entry
debit fraud expense
credit the account that the fraud payment was used for
explain in the memo block
Resolution for Issue 'If my client’s company was got scammed $2,500, how should I record that loss in quickbooks? Thanks!' available: Yes (Solved).
Source: Intuit Community forum.
If my client’s company was got scammed $2,500, how should I record that loss in quickbooks? Thanks!: 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.Support for Fraud Expense
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Error Recovery for Fraud Expense [Canada]
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