Theft

vivfry84

We recently had a large amount of money stolen from our work bank account. How would I record this in our accounts as the chances of us getting it back are zero.
Thank you.

MarieNoelle

The sum not covered by insurance is an allowable loss, unless the cash was stolen by the owner or director.
You can write it off to the p&l , you may need to create a new account (similar to bad debt).

vivfry84

Thank you.