If you often post bank payments for bank transaction fees, the Bank charges feature makes it easier. You can also post a bank charge at the same time as you post the customer receipt or supplier payment.

Enter your bank charge settings

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

1. On the navigation bar, go to Bank accounts.
2. Double-click the bank account where you post your customer receipts and supplier payments.
3. Go to Settings, then complete the window as follows:

   Default Charge Account	Choose the bank account you pay your bank charges from. This can be the current bank record or a different one. For example, if this is a foreign bank account but your charges are paid from your Sterling account.
   Nominal Code	Select your bank charges nominal code, for example, 7901. If required, to create a new nominal code click New.
   Department	Select the department you want to post bank charges to.
   Tax Code	The default tax code for bank charges is T2 by default, which is the Exempt VAT rate as advised by HMRC and the Revenue. You can change this if required.

4. Press Save then Close.
5. Repeat the above steps for any other bank accounts as required.

Next steps

You can now record your bank charges.