From the course: MYOB AccountRight Essential Training

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Bank charges and interest

Bank charges and interest

Bank statements usually include either account keeping fees or interest paid into the cheque account. These need to be added into the data file so that the accounts balance with the bank statement. Carol's Cleaning bank statement includes bank fees of $15 and a merchant fee of $30. These payments already appear in the data file, as we entered them earlier in the course when we were learning about recurring transactions. There's our entries in our screen. Let's now learn how to enter the interest of $35.25. We have two options. From the Actions button, within the reconciliation screen, we can go to Bank Entry or we can go to the Command Center at the top of screen then to Banking and over to Spend Money. We will use the Banking Entry feature within the reconciliation screen. But first, we need to create a new account for interest. So let's go to List on the menu bar, and down to Accounts. On the Incoming tab, we need to click New and type 7,000, and tab. Place Interest in the account…

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