Child pages
  • Bank interest and charges

Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.
HTML Wrap
classsection group
HTML
<span data-swiftype-index="true">
HTML Wrap
classcol span_3_of_5

Some bank transactions, like interest earned and charges paid, aren't usually known until you receive your bank statement. If you don't use bank feeds, you can record these transactions when reconciling your account.

Check with your accounting advisor about the Tax/GST codes to use for these transactions, and how they should be reported on your BAS/GST Return.

 

UI Expand
expandedtrue
titleTo record bank interest and charges

To record bank interest and charges

  1. Go to the Banking command centre and click Reconcile Accounts.
  2. Select your Account and enter the Bank Statement Date.
  3. Click Bank Entry.
  4. Enter the transaction details.
    • In the Service Charges section, enter details of fees and charges you've paid.
    • In the Interest Earned section, enter details of bank interest you've earned.
      Here's our example:
      Bank and Deposit AdjustmentsImage Removed. For clarification on the Tax/GST Codes to use for your circumstances, check with your accounting advisor or the ATO.
      Example Bank and Deposit Adjustments window with entriesImage Added
  5. Click Record.

When you return to the Reconcile Accounts window, the Bank Entry transactions have been automatically selected as Cleared.

HTML
</span>
HTML Wrap
width15%
classcol span_1_of_5
 
HTML Wrap
floatleft
classcol span_1_of_5
Panelbox
namegreen
titleRelated topics
HTML Wrap
classsidebarlinks

Setting up tax codes (Australia)

Setting up GST codes (New Zealand)

Reconciling your bank accounts

Setting up bank feeds

Panelbox
nameyellow
titleFrom the community

RSS Feed
titleBarfalse
max5
showTitlesOnlytrue
urlhttp://community.myob.com/myob/rss/search?q=interest+charges&filter=labels%2Clocation%2CsolvedThreads&location=category%3AAccountRight&search_type=thread&solved=true

HTML Wrap
classmorelinks

More »