We frequently receive payments from foreign customers invoiced in GBP into our GBP bank account which are slightly different from what has been invoiced. Usually the received amount is lower because of their or our or some intermediary bank fee. Other times, the difference is a currency conversion issue. Regardless, when we tag the bank entry, we want to have the matching invoice paid in full, and enter the difference as a bank charge. We do not want to chase foreign customers for relatively small amounts taken by intermediaries.
Currently, we delete the bank entry as per the bank statement, manually make a new entry stating the full amount, credit the invoice through tagging, then put another entry in as bank charge or currency difference. It is a pain. I know we can ‘assign to a customer account’ through tagging but the only option appears to be to ‘pay down’ the invoice leaving the customer in debt to us due to the bank fee taken.
Is there a quicker way?
With a foreign currency invoice, the task is easier, as QF allows the currency exchange rate to be altered to cover the difference and the user ticks ‘paid in full’.