Accounting & Bookkeeping & Small Business Forum

[takehiko]

I had a bank fee that was refunded to the business. How would I record this? The original fee entry looked like this:

Db - Bank Service Charges
Cr - Checking Account

Just add another entry exactly the reverse of this one?

Cr - Checking Account
Db - Bank Service Charges

Thanks!

[stasia2003]

takehiko wrote: I had a bank fee that was refunded to the business. How would I record this? The original fee entry looked like this:

Db - Bank Service Charges
Cr - Checking Account

Just add another entry exactly the reverse of this one?

Cr - Checking Account
Db - Bank Service Charges

Thanks!


I have a client who has several of these every month. In order to record the refund:

Db Checking Account
Cr Bank Services Charges

[RKehoe]

You are correct.

Make a new entry that is the reverse of the original entry