Service Charge Entry

Menu Path: Cash Management $Images\bluerarw.gif$ Processing $Images\bluerarw.gif$ Service Charge Entry

Purpose

Record service (miscellaneous) charges on a bank account.

Overview

Use Service Charge Entry to enter a service charge related to a bank statement or other miscellaneous entry. You can select two accounts, a cash account and a service charge account. The period, year and reference date all default, and you can enter the amount and a remark specifying the origin of the charge. Service charges are posted as miscellaneous items in Journal Entry Post.

Entering a Service Charge

To enter a service charge:

Enter the cash account from which the charge will be paid in the Cash Account field.
Enter the account against which the service charge is applied in the Service Charge Account field.
Verify the correct batch for the service charge appears in the Batch # field. If it does not, use the Select or Open buttons on the Batch tab in the ribbon to select or open a batch.
Enter the period, year, and reference date for the service charge entry in the Period, Year, and Transaction Date fields.
Enter the amount of the service charge in the Amount field.
Enter the currency for the service charge in the Currency field.
Enter a reference number for the service charge in the Reference # field.
Enter a remark in the Remark field.
Click the OK button in the ribbon. The service charge is entered, and the created journal entry number is displayed.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Service Charge Entry window.
OK	Click this button to create the service charge entry.

Ribbon Batch Tab Buttons

Button	Description
Edit	Click this button to display Edit A Batch, which allows you to edit an existing batch.
Select	Click this button to display Select a New Batch, which allows you to select a previously created batch.
Open	Click this button to display Open a New Batch, which allows you to create a new batch.
Close	Click this button to display Close A Batch, which allows you to close a batch.
Post	Click this button to display Journal Entry Post, which allows you to post journal entries for the selected batch.

General Tab Fields and Buttons

Field or Button	Description
Cash Account	Enter the cash account from which the charge will be paid, or click the Lookup button to select the cash account. This field defaults to the default cash account.
Service Charge Account	Enter the account against which the service charge is applied, or click the Lookup button to select the service charge account. Note The service charge general ledger account must be an account with a general ledger category of Other Expenses. The Lookup window only displays accounts that are set up with that category.
Posting Option	Select one of the following options to indicate how the chart of accounts should be updated when the service charge entry is created: Manual Post - Require the service charge entry to be manually posted to the general ledger. Hold for Review - Place the service charge entry on hold for manual review before posting to the general ledger. Direct Post - Update the general ledger automatically as soon as the service charge entry is made (without requiring manual posting). Note You cannot edit a directly posted entry after generation. To correct an erroneous entry, you must make a reversing, or adjusting, journal entry. You cannot edit or post on-hold entries until you review and release the entries from hold. This option defaults from the posting option selected in Ledger Maintenance. These radio buttons are only enabled if the Allowed to Update Posting Method check box is selected for your user ID in User Profile Maintenance.
Batch #	This field displays the open batch for service charges if a batch is open. You can use the Select, Open, Edit, and Close buttons on the Batch tab in the ribbon to work with batches.
Period	Click the Lookup button to select the period against which the charge is posted. This defaults to the current general ledger period.
Year	Click the Lookup button to select the year against which the charge is posted. This defaults to the current general ledger year.
Reference #	Enter an alphanumeric identifier for the service charge entry.
Amount	Enter the amount of the service charge.
Currency	Enter the currency of the service charge, or click the Lookup button to select the currency.
Transaction Date	Enter the date of the transaction for the service charge, or click the drop-down arrow to select the date of the transaction. This defaults to the current date.
Remark	Enter a remark about the service charge.
Bank Reconciliation Date	Enter the bank reconciliation date for the journal entry, or click the drop-down arrow to select the bank reconciliation date.
Includes VAT	Select this check box if the service charge includes VAT. This check box is cleared by default.
VAT ID	Enter your company's VAT ID for the service charge, or click the Lookup button to select a VAT ID. For information on setting up VAT IDs, see VAT ID Maintenance. This field is only available if the Includes VAT check box is selected.
Country	Enter the country for the service charge, or click the Lookup button to select a country. This field is only available if the Includes VAT check box is selected.
VAT Class Code	Enter a VAT class for the service charge, or click the Lookup button to select a VAT class. For information on setting up VAT classes, see VAT Class Maintenance. This field is only available if you select the Includes VAT check box.
VAT Rate	This field displays the current VAT rate for the VAT class entered in the VAT Class Code field. This field is only available if you select the Includes VAT check box.
VAT Amount	Enter the VAT amount if the service charge includes VAT. This field is only available if you select the Includes VAT check box. This defaults to the VAT amount for the amount entered in the Amount field based on the VAT rate displayed in the VAT Rate field.
VAT Account	Enter the VAT general ledger account if the service charge includes VAT, or click the Lookup button to select the VAT general ledger account. This field is only available if you select the Includes VAT check box.
Description	Enter the VAT general ledger account description if the voucher includes VAT, or click the Lookup button to select a VAT general ledger account description. This field is only available if you select the Includes VAT check box.