Adding Bank Charges in Inter Account Transfer

1

Inter account transfer feature is great and helps us record when we transfer money from one account to another.

Is there a way to record bank charges in the same transaction (by adding an item, then attaching an expense account eg Bank Charges, so it can be recorded in that transaction.

2

Hello @Aniwene_Madolomani,

There are two ways to record Inter Account Transfers:

  1. Using Inter Account Transfers tab

  2. Using Inter Account Transfers account

The second method is capable of capturing this additional detail.

Suppose, you made a transfer from account
A to account B, you should create:

  1. A Payment from account A with the line account set to Inter Account Transfers → B.
    —You can add an additional line here to account for bank charges.

  2. A Receipt from account B with the line account set to Inter Account Transfers → A

3

Thank you, this is great solution.

It would be great to have that additional field for extra accounts like bank charges etc, in the Inter Account Transfers tab as well.

2 Likes