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Bank Service Fees/Charges
02-03-2018, 03:49 AM,
#1
Bank Service Fees/Charges
I have searched around but I can not find and answer to this.

What is the best or recommended method to enter and track bank service fees/charges with webERP? I tried a Journal Entry but it is not allowed.

It appears one way is Main Menu > General Ledger > Bank Account Payments Entry and then enter against appropriate GL Account.

Is this the best or recommended method?
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02-03-2018, 05:04 AM,
#2
RE: Bank Service Fees/Charges
Via a GL payment is how I always do it. One thing to keep in mind is that in some locales bank charges are subject to vat or sales tax so you may need to keep that in mind.

Tim
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02-03-2018, 06:04 AM, (This post was last modified: 02-03-2018, 06:10 AM by VortecCPI.)
#3
RE: Bank Service Fees/Charges
Thank you Tim!
On this same note... Why do we have Check Number in two places?

From the code I see the top is for printing checks but should it not also be persisted in GL Trans table?

   
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02-03-2018, 06:37 AM,
#4
RE: Bank Service Fees/Charges
You are right but the problem is most people don't use the cheque printing functionality so having the ability to enter a cheque/voucher number in the detail section of the payment was asked for many times. However it is confusing I agree.
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02-03-2018, 07:55 AM,
#5
RE: Bank Service Fees/Charges
Ah... So I guess they are writing checks by hand and maintaining an external check register?

I changed the code just a bit to write the top Check Number to the GLTrans table for reference.

I also added the Check Number in GLTrans to the data shown in DailyBankTransactions.php script.
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02-03-2018, 08:14 AM,
#6
RE: Bank Service Fees/Charges
In Europe I would guess upwards of 90% or more payments are done via a bank transfer these days, and in demonstrations in Africa I have tried to explain about pre-printed cheques and been met with astonished looks. I have never had a customer who wanted to use this facility, so I have tended to ignore it, and only use the cheque number in the detail section. In fact I have the default payment type as cash which hides the cheque number field in the header.

Tim
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02-03-2018, 11:42 AM,
#7
RE: Bank Service Fees/Charges
Very interesting and thank you for feedback.

Three-part checks are the norm here in the USA, even for very large CORPS.
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02-05-2018, 05:15 PM,
#8
RE: Bank Service Fees/Charges
(02-03-2018, 05:04 AM)falkoner Wrote: Via a GL payment is how I always do it. One thing to keep in mind is that in some locales bank charges are subject to vat or sales tax so you may need to keep that in mind.

Tim

Thanks Falkoner

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