Basic newbie question

Posted by peter on June 27, 2008, 5:44 pm

Please log in for more thread options

I invoice somebody for =A31000. They pay =A31000, but of course I receive
=A31000 - =A33 (bank charges). How do I record it?:

a) If I say that I've only received =A3997, it will look like I've been
underpaid, or
b) I say I've received =A31000, but then have to have a =A33 bank charge -
but where do I record this and how do I tie it in with the payment
received??

Any help appreciated

Peter

Posted by Haskel LaPort on June 27, 2008, 6:06 pm

Please log in for more thread options

I invoice somebody for £1000. They pay £1000, but of course I receive
£1000 - £3 (bank charges). How do I record it?:

a) If I say that I've only received £997, it will look like I've been
underpaid, or
b) I say I've received £1000, but then have to have a £3 bank charge -
but where do I record this and how do I tie it in with the payment
received??

Any help appreciated

Assuming your version works like the US version, when you record the actual
amount of the receipt (997) enter a discount/credit for the cost of the bank
charge (3) for the invoice and code it to to the bank charges account.

Peter