[4godisgr8]

My rental property company books are entered on an accrual basis, with monthly revenues of about $25,000. I was told that approximately $5,000 in rental checks and money orders were stolen from the office before the deposits were made the previous night. How do I account for this issue in the books (I use QuickBooks)?My rental property company books are entered on an accrual basis, with monthly revenues of about $25,000. I was told that approximately $5,000 in rental checks and money orders were stolen from the office before the deposits were made the previous night. How do I account for this issue in the books (I use QuickBooks)?

[joypulv]

FIRST you spend every minute of the day recouping that 5k, by paying for tenants to stop payments on both checks and m.o.'s. Why in the world would you just write it off as a loss?
Go after the m.o.'s first. They will be easier to cash, and will take the longest to reimburse.

[ScottGem]

Do you have insurance? Did you file a police report. Insurance claim?

[paraclete]

You debit bad debts