Accounting Talk

peter · Guest

I invoice somebody for £1000. They pay £1000, but of course I receive
£1000 - £3 (bank charges). How do I record it?:

a) If I say that I've only received £997, it will look like I've been
underpaid, or
b) I say I've received £1000, but then have to have a £3 bank charge -
but where do I record this and how do I tie it in with the payment
received??

Any help appreciated

Peter

Haskel LaPort · Guest

"peter" <solvino@googlemail.com> wrote in message
news:e9df128e-8fe1-4349-bf2b-10978f367d6f@m3g2000hsc.googlegroups.com...
I invoice somebody for £1000. They pay £1000, but of course I receive
£1000 - £3 (bank charges). How do I record it?:

a) If I say that I've only received £997, it will look like I've been
underpaid, or
b) I say I've received £1000, but then have to have a £3 bank charge -
but where do I record this and how do I tie it in with the payment
received??

Any help appreciated

Assuming your version works like the US version, when you record the actual
amount of the receipt (997) enter a discount/credit for the cost of the bank
charge (3) for the invoice and code it to to the bank charges account.

Peter