Employee Credit Card Fraud

I starting keeping the books about a year ago as a volunteer while going to school.

When pulling a balance sheet I noticed an account labeled fraud.

I asked the leadership about it and was giving the story of an employee who misused the credit card.

I was given the promissory note that was completed and signed by the employee.

The problem is it has been three years and the individual is still unable to pay any money to the church.

The church leaders are not worried about getting the money back my concern is that according to tax laws we are to report this as taxable income.

What are my options now that it has been three years and we still have not reported this to the IRS? Thank you.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Church Accounting FAQs.



Need training on how to use QBO or Aplos effectively for a church or better yet ...need an expert in either of those accounting software to do your monthly bookkeeping and/or payroll? See more on our accounting services!







Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.