I have purchased several inventory items from a supplier in another country. The bank charges associated with the transaction are fairly high, and I’d like to recover those costs through my pricing of the inventory items. What would be the best way to do this? The options I’ve thought of are:
- Treat it just like a freight-in charge. But there’s no purchase invoice from the bank… I’m not quite sure about the details on this one.
- Add line items for each of the bank charges to the purchase invoice, then add matching items with contra charges against the Bank charges account. This would be much the same as the method described by @Brucanna here, but using the Bank charges account instead of a new clearing account.
- Leave the bank charges completely separate from the purchase invoice and the inventory items, and just take them into account when setting my sale prices for the inventory items.
Option 2 sounds the best to me, but I’d welcome any criticisms of the above, or suggestions for alternative approaches.