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How Do I Deal With Bank Statement Items Such As Charges?

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.