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?
- 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
thanks steve, it seems bit complicated, or shall i just issue a credit note to reduce the invoice balance?
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.
This topic was automatically closed after 7 days. New replies are no longer allowed.