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 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:

  1. Open the payment journal.

  2. In Navigate, select the function Create Fee.

  3. This opens the window Create Fee. Here is multiple field, but only tree is editable:

    FieldDescription
    New AmountHere, the settled amount from the bank is entered when the currency settlement has been made.
    FeeHere is entered the fee that is taken to make the settlement.
    Bank Bal. AccountThe final amount withdrawn from the balance account is displayed here. The field is automatically updated based on the contents of 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.

  4. After entering the amounts the exchange rate is updated.

  5. Select OK, to create the fee entry.