Employee benefits cards bank fee refund
Chai Jaiyai
Member Posts: 2 Novice Member
Hello
We are non for profit organisation and we've received the bank fee refund from Westpac Meal Entertainment card for each staff member. Westpac has no longer providing us with this Employee Benefits card. How can I record this refund in to Reckon? This is a bank fee that Westpac charged us monthly and now they returned it back to us.
Thank you
Chai
We are non for profit organisation and we've received the bank fee refund from Westpac Meal Entertainment card for each staff member. Westpac has no longer providing us with this Employee Benefits card. How can I record this refund in to Reckon? This is a bank fee that Westpac charged us monthly and now they returned it back to us.
Thank you
Chai
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Comments
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If no GST was included you can do a Make Deposit and put to account that you originally posted the expense to, I assume bank charges0
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Thank you Kris.
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Welcome0
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How would I process a refund from the bank of bank charges?
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Depends how much it is & whether there’s a GST component (eg Merchant Fees include 10% GST)
If it’s minimal with no GST, you can post it via Make Deposit.
I usually prefer to record it on a Sales Receipt with INP tax code (assuming no GST. If GST is included, you would need to use the GST tax code) as the income should be included in your BAS at G1.
(I create a new Other Income account & a corresponding Other Charge Item for this)
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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I usually offset small things against the expense and relevant tax code they originally went to, but as in most accounting there are many ways
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