To record a bank fee or interest charge, click menu Daybooks > Cash Book > Payments > Nominal Ledger.
The Nominal Payment Entry Form will appear.
Select the paying Bank Account code, enter the details and analyse the payment accordingly:
to bank fees – e.g. EF01 – BANK CHARGES
to bank interest – e.g. EF02 – BANK INTEREST
You need to be aware of items that are not processed through the sales and purchase ledgers – they may include VAT or be split items – such as HP capital repayments and Interest – all of these must be posted into the nominal ledger. There may also be sundry receipts.