Topic: Bank Account Charges
Hi, I need to know how to use Bank Account Charge.
Thank you.
cleal
- apmuthu
- Moderator
- Offline
Re: Bank Account Charges
Provide example of GL Entries you wish to achieve - voucher specifics.
- cleal
- Senior Member
- Offline
Re: Bank Account Charges
The question is, what can I do for this definition?.
I see that in GL configuration, but I have no idea when the account is affected or where.
Is useful? for what?
cleal
- apmuthu
- Moderator
- Offline
Re: Bank Account Charges
Bank Account Charge is where you would have the contra entry for transactions that the bank injects like Account Maintenance Charges, Interest on Loan Account, Credit Card charges (not the direct spend), instrument clearing charges, exchange conversion fees, etc.
Re: Bank Account Charges
Correct @apmuthu.. just to add an example.. Supplier Payment charges thru Bank Transfer where the Bank is charging you a transfer fee( if any).. In certain situations these charges are subject to VAT (Taxes) that you might be able to claim back.
- cleal
- Senior Member
- Offline
Re: Bank Account Charges
Thank you for the explanation.
cleal