The functions for incoming and outgoing payments contain a field for bank charges, in which you can enter any bank charges that are part of the payment being made or received. For incoming payments, the system subtracts the bank charges from the clearing amount, while in outgoing payments, it adds the charges to the clearing amount.
The system posts the charges to an expense account. To do this, it requires a posting key and an account assignment, both of which are already defined in the standard system. If you are not using the charts of accounts included with the standard system, you will have to enter your own account specification for posting bank charges. The Relevant to cash flow indicator must be set in the master records of accounts that record bank charges.
For the system to make the bank posting, you have to specify the bank account and amount in the clearing functions. The posting keys for G/L account postings are already defined in the standard system. You will only have to change them if you are not using the standard posting keys to debit and credit G/L accounts.
If taxes have to be posted for bank charges, you have to set up the bank charges account as tax-relevant. When posting the bank charges, the system then determines from the account master record that tax entries have to be made for the charges, and displays a screen for users to make the necessary entries.
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