How Do I Assign Bank Charges to a Clients Invoice

Just started using Quickfile so any help would appreciated with the following…

I had invoiced a client for £1,750 but when they’ve paid, £1,743 has been credited to my current account (because £7 worth of bank charges have automatically been deducted). This is quite normal especially with payments from abroad.

However, if I assign the £1,743 to my customers invoice it still leaves a balance outstanding of £7.

How do I assign the outstanding £7 as bank charges?


The easiest approach would be to treat it like a merchant account such as PayPal - create a dummy bank account in QuickFile, mark the invoice as paid in full into that account, and the money in to your current account as a transfer from the merchant account. The remaining balance in the merchant account is the fees, for a true payment service provider you’d create a purchase invoice for the fees and pay that from the merchant account, but if it’s just fees levied directly by your own bank and you don’t have to worry about VAT then you could tag them using “something not on the list”.

There is an easy way to handle these cases now. Simply amend the invoice by adding a new line with a negative value of -7.00. Click on the cog icon and change the category to “Bank Charges [Expense]”.

That should then balance against the amount paid and assign £7 to the bank charges nominal account.

BTW: This was literally only made possible over the weekend.