Bank fees for overseas transfer:
Do I record them on my o/s supplier bill? or Do I create a separate bill for the bank fees only (bank as supplier)?
Hi nailbo66,
Best practice is to include the bank fee on the supplier bill, as a separate category line item - we have a category called Bank charges and fees that's for the purposes of recording these fees.
This will keep all components of the bill in one place.
Bank fees for overseas transfer:
Do I record them on my o/s supplier bill? or Do I create a separate bill for the bank fees only (bank as supplier)?
Hi nailbo66,
Best practice is to include the bank fee on the supplier bill, as a separate category line item - we have a category called Bank charges and fees that's for the purposes of recording these fees.
This will keep all components of the bill in one place.
Bank fees for overseas transfer:
Do I record them on my o/s supplier bill? or Do I create a separate bill for the bank fees only (bank as supplier)?
Hi Keven,
This entry can be incorporated as part of the bill, after converting from the purchase order. Upon revising this a year later, you can instead create a separate expense to the bank (supplier) with just the fee amount in it, if you wish to separate the fee from the purchase.
Bonny
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