Payment received less than invoice amount due to bank charge

[sinowayuk]

Hi I have received a payment from a customer in USD but it is about 20 dollars short, i was told this was deducted by an intermediate bank straight from the total amount, so i can i log the invoice as paid in full still? and how do i log the difference as bank charge?

[QFSteve]

Hello @sinowayuk

• You would pay the invoice in full using a merchant account
• Record the money out transaction for the charge and tag it to a nominal, something like bank charges
• The remaining amount can then be transferred to your current account

Here is some more information on using merchant accounts
https://support.quickfile.co.uk/t/handling-payments-from-merchant-accounts/8865

[sinowayuk]

thanks steve, it seems bit complicated, or shall i just issue a credit note to reduce the invoice balance?

[QFSteve]

Hello @sinowayuk

This would reduce your sales by the equivalent of 20 dollars.

And you would still want to record the bank fee in your overheads.

Note I am not a registered accountant so it may be worth checking the best course of action.