This topic shows user how to enter bank charges when received payment from debtor and make payment to supplier.
Below are the overall content for this topic:
Case 1
Example
Total amount in purchase invoice is RM2,120. User is being charged RM0.50 by bank for cheque processing when make payment. The total amount credit from bank is RM2,120,50.
Step 1: Make payment to supplier with bank charges
Step 2: Print payment voucher
Step 3: View Ledger for bank
Case 2
Example
Total amount in purchase invoice is USD2,000.84 with exchange rate 3.40000. When user make payment, supplier ask for additional Telegraphic Transfer(T.T) charges USD50. The exchange rate is 3.5000 when made payment.
Step 1: Make payment to supplier with bank charges in foreign currency
Step 2: Print payment voucher
Step 3: View Ledger for bank
Step 4: Gain/Loss Report
Case 3
Example
Total amount for sales invoice is SGD1,000 with exchange rate 3.10000. When customer make payment, user wanted to receive full amount SGD1,000 according to sales invoice without deduct T.T charges SGD30. Debtor need to pay SGD1,030 with the exchange rate 3.2000.
Step 1: Receive payment from debtor with bank charges in foreign currency
Step 2: Print offical receipt
Step 3: View Ledger for bank
Step 4: Gain/Loss Report
Case Example 1
Step 1: Make payment to supplier with bank charges
1. Go to Creditors then Pay Bills, click on Add.
2. Enter amount according to purchase invoice which is RM2,120 and knock off the invoice.
3. Click on Local Bank Charges
4. Select the bank charges account
NOTES: Ensure the bank charges account is being classified as B1 in GL account.
5. Enter the amount RM0.50
6. Assign tax code for bank charges
NOTES: System auto generate journal for bank charges.
7. Click OK
8. System display bank charges amount.
9. Click on Save
10. Click on GL transaction, system auto generate journal for bank charges.
Step 2: Print payment voucher
1. Go to Creditors then Pay Bills
2. Click Print then Preview
3. Click Yes
4. System print the amount RM2,120 without including local bank charges amount.
Step 3: View Ledger for bank
1. Go to General then View Ledger
2. Enter Bank A/C No
3. Click on Refresh
4. System shows total bank credit is RM2,120.50
Case Example 2
Step 1: Make payment to supplier with bank charges in foreign currency
1. Go to Creditors then Pay Bills, click on Add
2. Enter amount according to purchase invoice which is USD2,000.84 with exchange rate and knock off the invoice
3. Click on Foreign Bank Charges
4. Select the bank charges account
NOTES: Ensure the bank charges account is being classified as B1 in GL account
5. Enter the amount USD50
6. Assign tax code for bank charges
NOTES: System auto generate journal for bank charges.
7. Click OK
8. System display bank charges amount
9. Click on Save
10. Click on GL transaction, system auto generate journal for bank charges.
Step 2: Print payment voucher
1. Go to Creditor then Pay Bills
2. Click Print then Preview
3. Click Yes
4. System print total amount USD2,050.84 including foreign bank charges amount.
Step 3: View Ledger for bank
1. Go to General then View Ledger
2. Enter Bank A/C No
3. Click on Refresh
4. System shows total bank credit is USD2,050.84
Step 4: Gain/Loss Report
1. Go to General then More Reports and select Gain/Loss Report.
2. Select Detail View Option and Realize Report
3. Click on Print then Preview
4. System shows Gain/Loss amount for USD2,000.84
Case Example 3
Step 1: Receive payment from debtor with bank charges in foreign currency
1. Go to Debtors then Receive Payment, click on Add
2. Enter amount according to purchase invoice which is SGD1,000 with exchange rate and knock off the invoice.
3. Click on Foreign Bank Charges
4. Select the bank charges account
NOTES: Ensure the bank charges account is being classified as B1 in GL account
5. Enter the amount (SGD30)
NOTES: If user enter SGD30 in foreign bank charges, user only received SGD970 and not SGD1,000 as being deduct for T.T charges.
6. Assign tax code for bank charges
7. Click OK
8. System display bank charges amount
9. Click on Save
10. Click on GL transaction, system auto generate journal for bank charges
Step 2: Print offical receipt
1. Go to Debtor then Receive Payment
2. Click Print then Preview
3. Click Yes
4. System print total amount SGD1,030 including foreign bank charges amount.
Step 3: View Ledger for bank
1. Go to General then View Ledger
2. Enter Bank A/C No
3. Click on Refresh
4. System shows total bank debit is SGD1,030
Step 4: Gain/Loss Report
1. Go to General then More Reports and select Gain/Loss Report
2. Select Detail View Option and Realize Report
3. Click on Print then Preview
4. System shows Gain/Loss amount for SGD1,000
