Breeny

Hi Breeny ,

For bank fees, you should use the tax code "NT" (No Tax). Bank fees are generally considered a non-taxable expense, but it's still advisable to consult with an accountant for an accurate answer.

Regards,
Earl

Yes agree with Earl, it is N-T only

Hi there Breeny

Welcome to MYOB! If you're wondering what tax code to use, you can check this link for information and know which code applies to the transaction.

Best regards,

Doreen

Thanks Doreen,  I have checked the link and have read about the tax codes and how to allocate.  I realize the difference with merchant fees having GST and bank fees are GST free.  I still have the question about which code to allocate to bank fees.  FRE or NT?  

Thankyou.

Thankyou for the advice Earl.

Hi Breeny ,

You're very welcome. If you have any further questions, feel free to start a new post, and one of us will be happy to assist you.

Regards,
Earl