Costs incurred can be booked to two types of costs - bank costs and costs.
Bank costs are costs that a bank often charges for maintaining and servicing the account or transactions. There are several scenarios involving bank costs. The most common one is that the bank includes an additional line for bank costs in the bank statement. When entering or importing, and processing the bank statement, there is no invoice with which to settle the bank costs. This means that the cash flow transaction will initially be unallocated.
Costs on the other hand refer to all other costs that do not relate to bank costs, and sales/purchase transactions. Booking of cost from Cash flow/Entries/Cash flow is the same as booking of cost from Finance/Entries/Bank/Cash when the payment term uses the Bank Journal and not the General Journal.
To complete the cash flow cycle and to allocate the bank costs/costs to the specific general ledger account, you must edit the unmatched cash flow transaction at Cash flow/Entries/Cash flow and click on Book costs under the Matching & Processing section.
You can fill in the information that you want to process in this screen.
Select Bank costs if you want to write off the receipt (if interest has been received) or payment (if bank costs have been charged) to a specific P&L general ledger account. The default bank cost account is defined at Bank costs under the General ledger section at System/General/Settings/General ledger settings.
Select Costs when the cash flow transaction does not relate to any purchase or sales invoice (or installment). You can then specify to which G/L account you want to write off this cash flow transaction.
Note: The bank costs amount will only be charged to a single G/L account whereas the costs amount can be charged to not more than three G/L accounts.
This refers to the creditor/debtor account of the transaction selected in Cash flow/Entries/Cash flow.
This refers to the type and currency code used in the transaction selected in Cash flow/Entries/Cash flow.
Type or select the general ledger account you want to allocate the costs to. The amount can be divided over three different general ledger P/L accounts.
When you adjust the amount, the second line will allow you to specify to which general ledger account the remaining amount has to be booked. The sum of the amounts has to be equal to the amount of the cash flow transaction as you cannot leave a difference.
This is only available if a foreign currency is used. When that happens, it will show the amount in the default currency.
Type or select the tax code that is relevant to this transaction.
This is only available if a tax code of more than 0% is selected. For example, 19% excluding.
Type or select the project to which you want to allocate the bank costs/costs.
Type or select the cost center to which you want to allocate the bank costs/costs.
Type or select the cost unit to which you want to allocate the bank costs/costs.
Type or select the item code to which you want to allocate the bank costs/costs.
Type or select the resource responsible for the allocated bank costs/costs.
Click Simple to hide the advanced criteria. Click Advanced to display the advanced criteria.
Click this to process the information entered.
Click this to close the screen and to exit.