How to Record Bank Commissions in Manual Journal Entries

Here is an explanation of how to add a bank fee in the system through manual accounting entries.

1. First, add a bank fees account in the chart of accounts, and it must be branched from the operating expenses account.

2. 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.

3. Finally, save the entry after verifying the details.