How can I record bank charges that come with a bank statement?

We get bank statements that will have some entries/transactions as charges, charged by the bank fro transacting or monthly charges. On bank reconciliation, I’ve seen that I need to link/reconcile entries as Payment/Invoice/Expense.

  1. I cant record it as an expense, because I’d need to enter Approver Details etc
  2. As a payment, it requires Party Type and corresponding accounts
  3. Can’t be recorded as invoice

How can I take of these charges?

Then a journal entry between your bank account and an expense account (as bank charges)

Thanks for the reply @Francois_De_Ryckel. But there will be alot of these in one file, can please advise on a method I could make use of?

Are you saying I should create an Account under Expenses for these Charges?

That’s what I have been doing. You can even create one such account per bank. I am no accountant, but that’s what I have been doing.

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Thank you for your input. Not an accountant either, but from the little info I have, this makes sense. Once again. Thank you!

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