How to post fees
With this function, you can manage the settlement of fees for currency payments in Continia Payment Management's payment journal before posting the payment. This is an alternative to posting the payment at the expected rate, and subsequently posting the rate difference and fee.
Note
To use this feature, please note the following:
- A fee account must be specified in Setting up a payment suggestion.
- The payment line must have the Status "Sent".
- The function cannot be used on currency bank accounts.
How to post fees
When the final settlement comes from the bank, follow these instructions to use the function:
Open the payment journal.
In Navigate, select the function Create Fee.
This opens the window Create Fee. Here are multiple fields, but only three are editable:
Field Description New Amount Here, the settled amount from the bank is entered when the currency settlement has been made. Fee Here is entered the fee that is taken to make the settlement. Bank Bal. Account The final amount withdrawn from the balance account is displayed here. The field is automatically updated based on the contents of the New Amount and Fee. Note
If a fee for the payment method used is specified, this amount will be suggested in the field when the window is opened. Fee amounts are specified either in the Payment Method Overview during setup or on the Bank Account.
After entering the amounts the exchange rate is updated.
Select OK, to create the fee entry.