LA GL - Bank Fees: Journal Entry or Bank Reconciliation Adjustment

Option I: Add bank fees through the bank reconciliation: 

 While in the Bank Reconciliation, Click on the Add Chk/Adj button.

JEFORBANKFEES.PNG

This will bring up an entry screen where you can enter the GL Account number the bank fees will be expensed with a debit entry.  The bank account you are reconciling will be credited. 

 

Once you have completed this entry, the item will be in the bank reconciliation under the checks tab, and already marked.

Image

Option II: add bank fees through the General Ledger Individual Transactions: 

JEFORBANKFEES2.PNG

 As you can see, you will want to make this entry a Journal Type: CD  If it is not a CD, it will not show up in the Bank Reconciliation. 

Also, when you enter the bank fees using a journal entry, you must create both sides of the entry, crediting the checking account and debiting the expense account. 

 

Have more questions? Submit a request

Comments

0 comments

Please sign in to leave a comment.