Re:Check sent out to a wrong recipient and cashed - HandsonERP

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Re:Check sent out to a wrong recipient and cashed (1 viewing) (1) Guest

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TOPIC: Re:Check sent out to a wrong recipient and cashed

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gavrobere (User)

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Re:Check sent out to a wrong recipient and cashed 13 Years, 5 Months ago
1) What accounting entries can we record in AR if we cannot catch the thieves and recuperate the money back from them? 2) Assuming that the money went to a wrong regular vendor which has already cashed the check, could we raise a Debit Memo in Payables against this vendor? How do we go about it? Thank you. Or, would it be something like a Refund?