Theft
vivfry84
Settling In NicelyRegistered Posts: 38
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.
Thank you.
0
Best Answer
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MarieNoelle
Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,433
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).5
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