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A way to acknowledge bank charges on international payments.

When we receive international payments (paid in GBP), our bank deduct their fees from the transaction amount. This means the transaction we import does not match the original invoice amount on Kashflow which is causing issues with assigning payments etc.

I understand we could create a negative item for the fee on the invoice but this would not acknowledge the bank charges we have paid.

Perhaps a new 'sales code' selection for bank charges could be selected (when adding the charge as a negative amount) which also raises the relevant bank charge as a separate purchase (under bank charges) so all accounts are up to date.
  • Anonymous
  • Jan 10 2017
  • Acknowledged
  • Jan 10, 2017

    Admin Response

    Bank Charges currently exists as a sales code, I believe it is 7901 but does not then raise the relevant charge as a separate purchase. We are unlikely to build an automated function to do this into KashFlow, I would suggested discussing with your accountant the best way to manage this?
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