Jasz
VIP Contributor
Theft of revenue is an issue in QuickBooks. This can be a problem if you are using the accounting system to track your income and expenses. To account for theft of revenue, you need to use a journal entry to remove the amount from your balance sheet and adjust it in your profit and loss statement.
When a theft of revenue occurs in quick books, it's best to follow these steps:
1. Open the account that has been affected by theft
2. Click on the transaction number
3. On the left side of the screen, click on "create journal entry"
4. Select "subtract"
5. Enter the amount of money that was stolen
6. Enter a memo that explains what happened
7. Save and close
If an item is not stolen or mismanaged, a theft of revenue occurs when a company sells an item or service, but the customer does not pay for it. This can be a serious problem for small businesses, who may be unable to recover the money they lost and may have to declare bankruptcy.
When a theft of revenue occurs in quick books, it's best to follow these steps:
1. Open the account that has been affected by theft
2. Click on the transaction number
3. On the left side of the screen, click on "create journal entry"
4. Select "subtract"
5. Enter the amount of money that was stolen
6. Enter a memo that explains what happened
7. Save and close
If an item is not stolen or mismanaged, a theft of revenue occurs when a company sells an item or service, but the customer does not pay for it. This can be a serious problem for small businesses, who may be unable to recover the money they lost and may have to declare bankruptcy.
