Employee benefits cards bank fee refund

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Chai Jaiyai
Chai Jaiyai Member Posts: 2
edited June 2020 in Accounts Hosted
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

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  • Kris_Williams
    Kris_Williams Member Posts: 3,400 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited June 2020
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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 charges
  • Chai Jaiyai
    Chai Jaiyai Member Posts: 2
    edited June 2020
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    Thank you Kris.
  • Kris_Williams
    Kris_Williams Member Posts: 3,400 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited June 2020
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    Welcome
  • Laurelle Searle
    Laurelle Searle Member Posts: 14
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    How would I process a refund from the bank of bank charges?

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,483 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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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

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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!)
  • Kris_Williams
    Kris_Williams Member Posts: 3,400 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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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