Some customers pay by wire payments and this causes a short payment due to bank service charges.  How do I apply the full payment against the invoice and then account for the service charge.  Using SA 2009.  Suspect I need to do a separate JE for the S/C but would like to do the entry all at once. 

We do not offer discounts and was wondering if changing the discount section of the cash receipts to be bank charges and change the account number linked to it I could apply the wire payment in one entry.

Hi there:  Your suggestion would probably work quite well except that "linking" your bank charges account would negate being able to do entries to that account any other way.   But you could set up a second account called Bank Charges on Wire Payments and link that one to the A/R.   You would also be able to see just how much it's costing to have people pay by wire by setting up the separate account.  Then you can enter your other, normal bank charges without having to worry about the account being linked and unavailable.  This will enable you to take care of the transaction in one entry as you said.  Handling it any other way would mean a second entry to deal with it.      Rita Deering

Pardon my crudulity but...your bank charges YOU when a client wires/deposits into your account??? I think you should have a chat with your account manager to either include the service as part of your overall package or have them debit your account seperately.

About a quarter of my clients pay by EFT and the bank (CIBC) does not charge me ANY extra service charges for those deposits.

 (I know this doesn't answer your question, but...)

My bank has never charged additional charges for EFT deposits.  You should talk to your bank representative. 

Jai

Thanks for the information.  I wasn't aware or thinking ahead that if I use an account as a linked account are you saying you cannot do other journal entries or posting to the account.  As an example to post my monthly normal bank service charges via a journal entry.

Hi again:  I could be wrong about that.  I always relate to Accounts Receivable and Accounts Payable accounts being linked and being unable to post directly to these accounts.  I can't be sure about linking an account like Bank Charges -- perhaps you can still enter amounts directly.   Try it and see what happens.   Rita