Bank Charge is often reflected in the bank statement thus it is usually one of the reconciling items when performing bank reconciliation.
- Navigate to Transactions > Bank > Reconcile Bank Statement.
- Under New Charges tab, enter the Date and Amount of the bank charge. Select the Account to post the bank charge.
Note: An enhancement request was logged for NetSuite to post this as a journal entry instead of check because technically users are not issuing check but merely recording the transaction. Vote for Enhancement 129044 | Bank > Reconcile Bank Statement > New (Other) Charges: Please add the ability to change the type of transaction that is created with using this tab, not just always Checks.
- Navigate to Transactions > Financial > Make Journal Entries.
- For accounts with Multiple Currencies enabled, select the Currency of the bank account.
- In the Lines tab, select the Account where bank charges are being posted e.g. Bank Service Charges. Enter the amount under Debit column and click Add.
- Select the Account for the bank. Enter the amount under Credit column and click Add.
- Review other fields like classification, memo etc.
- Click Save.