Bank feed receive payment with bank fee, how to match?

MichelleS_ECO

Hello

The issue is that the customer has paid the invoice however a bank fee has been deducted from the amount owing.

Therefore instead of receiving the full invocied amount the amount in the bank feed and therefore thru the bank account is less the bank fee taken.

There is no mention in the bank account or the bank feeds of the bank fee deduction so when the bank feed is allocated to the invocie through receive payment the invocie is showing an amount outstanding to the value of the bank fee.

Is there some way of allocating the bank fee at the time of processing the bank feed to the invoice so that the invoice shows as paid in full and the bank fee is added to the "Bank Charges" expenses account?

Regards

Michelle

CloverQ

Hi @MichelleS_ECO 

 

Thank you for the update.

 

Once you record the Prepare Bank Deposit transaction of the net amount, you'll need to match the bank feeds transaction to the bank deposit transaction for bank reconciliation.

 

Bank feeds is a means to make bank reconciliation more streamlined, the entire bank transaction amount can be quickly recorded as simple Spend Money/Receive Money transactions, or payments to open invoices/bills. A bank feed transaction cannot be matched/recorded as a withdrawal+ a deposit the same time - if that's what you are after - you do need to record them manually, then match the bank feeds transaction.

 

I hope this clarifies it for you, do let me know if you have any further questions.