These are the total charges that the bank has received. They should include all the debits and credits you have used.
interchange fees
Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank
The person who receives the cheque payment (You) pays the bank charges.
it is the value of what you are offered in the bank.
interchange fees
Charges on MT103 transactions can vary depending on the financial institutions involved in the transaction. Typically, the charges may be imposed by the sending bank, intermediary banks, or the receiving bank to cover processing fees associated with the transfer of funds. It's important to check with your bank to understand the specific charges that may apply to your MT103 transaction.
Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.
bank charges a/c debit to cash a/c credit
[Debit] Bank service charges [Credit] Bank account
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
what does banking charges mean
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank
The person who receives the cheque payment (You) pays the bank charges.
it is the value of what you are offered in the bank.
It Depends. Yes - If the transaction is currently in progress and deposit instructions are not yet sent to the receiving bank No - If the transaction is completed or if deposit instructions are already sent to the receiving bank and the receiving bank has already acknowledged the receipt of the same
1) stock-in-transit(bank charges) 10 to bank 10 2) stock-in-transit(invoice value) 80 to supplier 80 3) stock-in-transit(clearing charges) 20 income tax(if claimable) 10 to clearing agent 30 4) clearing agent 30 to bank 30 5) supplier 80 to bank 80 6) inventory(10+80+20) 110 to stock-in-transit 110