Bank Reconciliation Bank Charges

Bank Reconciliation – Bank Charges

BANK CHARGES

The brmBankChgs - Bank Charges process allows you to identify a Bank Charge to the system.

When entering details in the Bank Statement – brtBankStat process, one of the transaction types you will encounter, will be Bank Charge. The Bank Charges you create here will be the charges you reference from the Bank Statement process.

Fields indicated as mandatory (Red Label) require data input where the other fields indicated with a Black Label do not necessarily require input, but any default entries in any of these field can be changed if necessary.

To access Help for all fields – position cursor in the field and press F1 or click on Help button.

To access Search for fields that have Search available – position cursor in the field, Click on Search Button, or right click and select Search option.

·  Charge Code – Enter a code to identify the particular Bank Charge. Meaningful codes should be used where possible. Eg. intp – Interest Paid, intr – Interest Received, Lease – for lease payment etc.

·  Description – This is a meaningful extension of the Bank Charge Code that will be used throughout the system when referencing the selected Bank Charge.

·  Expense Account – This is a General Ledger Expense account that will be charged with the Expense when the Bank Charges are posted.

·  Entity – This is the Entity that will be charged with the Expense when the Bank Charges are posted.

·  Debit or Credit – This option allows the amount to be set as either a debit or credit depending on how the charge appears on the Bank Statement.

·  Currency – If this Bank Charge is to apply to a Bank Account held in a foreign currency, you should select that same currency here.

·  Tax Code – You must select a Tax Code here and it must be either a GST Free code or if GST is applicable, then it must be a GST inclusive tax code.

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