Explain overseas payment that already had bank charges deducted

Question asked by Pete 6 years ago

I have an invoice to customer in Germany for $500

I received payment:

*Original amount: $500

*Other bank charges $20

*Received : (@USD - GBP exchange 1.30725) = £367.18

*Co-op (my bank) charges £6

*credited £361.18

My invoice is for $500 and is still a draft so I have edited in the exchange rate as above, but the payment on the import obviously still leaves an amount outstaning ($20 to unknown bank and £6 to coop.

So how to explain this on the bank import?

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3 Replies

Hi Pete,

Bank charges should appear, but if it does not you may need to make sure that it is checked as appear in sales under Settings > Accounting > Account codes. This would allow you to see it. As for the bank. You can simply use the customer contact and mark the description as customer bank charges. That would be fine.

All the best,

Mohamed.

Best answer
6 years ago

Thanks Mohammed

That video is a bit confusing because it says to put in a negative amount then sect the bank (so far so good) and then to select bank charges from the account drop down, however bank charges does not appear in the drop down.

Also I am wondering how to explain the amount that was notified as paid to Other bank charges, because I don't know who the bank is. Do I have to set it up asa bank called other bank? That seems a bit complicated

6 years ago

Hi Pete,

Bank charges should appear, but if it does not you may need to make sure that it is checked as appear in sales under Settings > Accounting > Account codes. This would allow you to see it. As for the bank. You can simply use the customer contact and mark the description as customer bank charges. That would be fine.

All the best,

Mohamed.

Best answer
6 years ago

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