Hello everyone,
I’m confused about how bank charges should be tagged. This forum explains everything about it. When you use the 2nd method in the opened topic, it creates a purchase for each bank fee.
As in the picture
Here are the steps I followed:
1- I clicked “Tag me”.
2- I clicked “Payment from a customer”.
3- I clicked “Create a new invoice for this receipt”
Then I filled the required information.
I don’t know if I did something wrong. I’m pretty new at this job.
Is there a better method for tagging bank charges?
Hi,
When the bank charges show up in your bank/merchant account in quickfile click the tag button at the end of the transaction. After that click payment to a supplier or something not on the list. Fill in all the information and choose Bank Charges as a nominal account. Save. Done.
The difference between supplier and something else not on the list is that the supplier way creates an invoice. Something else not on the list creates a direct journal between your bank/merchant account and bank charges.
No. “Payment from a customer” is an option when tagging “money in” transactions but bank charges are presumably money out?
Essentially @rhc has described the same process you’re already following and I’d agree that is the best way to record it. Making a purchase for each fee lets you attach the documentation from Wise with the fee details - direct “something not on the list” tags can’t have attached files.
