How to Record a Bank Fee
This article will walk you through the steps on how to record a Bank Fee
Bank Fees are levied by financial institutions on their personal and business customers for the establishment, upkeep, and small-scale transactional services of their accounts, which can be imposed either as a single occurrence or continuously.
- First Navigate to Accounting, then Banking.
- Next select Actions>New Bank Fee.
- Lastly, record your Bank Fee and hit Save.
Note: Customers on Manager Ledger mode should select the Manager Ledger in the drop selection. Like shown below.
For customers on Bill Management Mode we recommend tying the Bank Fee to a Property Management Portfolio to match the decrease on the bank statement.