Including bank charges as you post supplier payments and customer receipts

With Sage 50cloud Accounts it is possible to post a bank payment for bank charges at the same time as you post the customer receipt or supplier payment, saving you time.

Entering your bank charge settings

To start using bank charges, you must add your back charges settings to your bank account record. You can amend these settings at any time.

    1. Select Bank accounts.
    2. Double-click the bank account where you post your customer receipts and supplier payments.
    3. Click Settings, then complete the window as follows:
      • Default Charge Account – click the bank account you pay your bank charges from.
      • Note  This can be the current bank records or a different one, for example, if this is a foreign bank account but your charges are paid from your Sterling account.
      • Nominal Code – Enter your bank charges nominal code, e.g. 7901. If required click New to create a new nominal code.
      • Department – Click the department you want to post the bank charges to.
      • Tax code – The default tax code for bank charges is set to T2 by default. You can change this if required.
      1. Click Save the click Close.
      2. Repeat the above steps for any other bank accounts as required.


Post a payment or receipt and bank charge
      1. Select Bank accounts.
      2. Click Customer receipt or Supplier payment as required.
      3. Enter the receipt or payment details as normal.
      4. Against the required invoice, click the Bank Charge column then enter the bank charge amount.
        • If you are using Foreign Trader, the Cur column shows the bank charge currency.
      5. Click Save 

This posts a sales receipt or supplier payment, plus a bank payment to represent the bank charge. You can view the bank charges from within the customer and supplier records.

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