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
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
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