Here is an explanation of how to add a bank fee in the system through manual accounting entries.
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First, add a bank fees account in the chart of accounts, and it must be branched from the operating expenses account.
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Next, create a new manual entry through:
- Drop-down menu > Accounting > Manual accounting entries > Create manual entry.
- Select the date and add an entry description.
- Select the accounts as follows:
- Debit account: Bank fees account.
- Credit account: The account from which the fee is deducted (such as the bank account).
- Ensure that the debit amount equals the credit amount.
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Finally, save the entry after verifying the details.
