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A
Alpinewood
October 24, 2023
Question

How do I reconcile my credit card while waiting for fraudulent charges to resolve?

  • October 24, 2023
  • 1 reply
  • 0 views

We just received our credit card statement and there are four fraudulent charges on it. As we wait for the bank to resolve these fraudulent charges, which they said could take a while, how would I reconcile my credit card so that it balances? Do I just wait until the bank gets back to us? Thank you in advanced!

1 reply

R
Rea_M
October 24, 2023

Hello, Alpinewood. While resolving fraudulent charges, you can still reconcile your credit card account. I'll elaborate this in detail on how to proceed with your reconciliation.

 

Since your credit card statement already indicates the fraudulent charges, it's important to record them in QuickBooks if you haven't already. This is because QuickBooks should have a record of transactions similar to what your actual credit card shows. Then, proceed with your usual reconciliation.

 

After the bank resolves the fraudulent charges, you can record the offsetting transactions as indicated in the statement.

 

Additionally, to further guide you in performing and resolving reconciliations in QuickBooks Desktop (QBDT), you may want to check out this article: Learn the reconcile workflow in QuickBooks.

 

Don't hesitate to visit the Community again if you have additional questions about account reconciliation in QBDT. I'll get back to assist you further. 

    A
    AlpinewoodAuthor
    October 25, 2023

    Hello Rea_M,

    Thank you so much for taking the time to answer our question. You advice was very helpful and clear and we were able to reconcile our CC properly. Now we just wait to hear from the bank!

    Again, thank you so much and have a wonderful Fall/Winter.

    Cheers,

    Jon and Hayley

    [Removed]

    R
    Rea_M
    October 25, 2023

    You're always welcome, Jon and Hayley.

    I'm glad to hear that I was able to help you with your reconciliation concern. We couldn't have resolved the issue without your cooperation. Thank you for letting us know how it went.

     

    If you have any further questions or need assistance in the future, feel free to reach out. Take care, and I wish you both continued success.

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