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What else can I help you with?
A service fee is only shown on the bank statement which journa do i use?
To record a service fee that only appears on the bank statement, you would typically use the "Bank Charges" journal or "Miscellaneous Expenses" journal, depending on your accounting system. This reflects the expense incurred due to the bank's service fee. You would debit the relevant expense account (like Bank Charges) and credit your bank account to accurately reflect the deduction.
How do you request for bank statement?
You contact (call, write, email) the bank where you hold the account and ask for a statement of your account. Some banks charge a fee for this service so don't forget to ask about any charges to get a statement.
Can a bank service fee overdraft your account?
A bank service fee can make your account negative. Whether or not they will assess an additional "overdraft fee" depends on the bank's policies and applicable laws in your jurisdiction.
What does moneybox stand for on a bank statement?
Moneybox stands for a cash point on a bank statement. Cash points are usually stand alone ATMs that charge a small fee.
What does tomc mean on your bank statement?
Tomc is not a common abbreviation on a bank statement. You can contact your local bank for a list of terms related to bank statements. Examples of commonly found abbreviations on a bank statement are TRF, DR, and CHG. TFR stands for transfer, DR is a debit, and CHG is a charge or fee from your bank.
What does stz mean on a bank statement?
"STZ" on a bank statement typically refers to a transaction code or description related to a specific type of transaction, such as a service fee, a payment made through a specific platform, or a merchant name. The exact meaning can vary by bank, so it's best to consult your bank's transaction code guide or contact customer service for clarification. If you're unsure about a transaction, it's advisable to review it further to ensure it aligns with your records.
What would appear in the Debits column of a bank statement for a checking account?
An online bill payment APEX
Can you explain how overdrafts work in banking?
An overdraft occurs when you spend more money than you have in your bank account. The bank covers the difference, but charges you a fee for this service. You then owe the bank the amount of the overdraft, plus the fee.
If you need to withdraw 20 using an ATM owned by Wild Westbank your bank Mountain Bank is probably going to charge you a fee for using a?
foreign ATM and the fee will show up on your next monthly statement.
What is the meaning of Bank wire fee?
If you ask your bank to send money to someone electronically, it is called a wire transfer. The bank charges a fee for this service. So, if you wired $100 to me and the bank wire fee was $5, they would take $105 dollars from your account, send $100 to me and keep the other $5.
WHAT DOSE SGT MEAN ON A BANK STATEMENT?
On a bank statement, "SGT" typically stands for "service charge," indicating a fee charged by the bank for account maintenance or other services. This charge may vary based on the account type or specific banking services used. It's important to review these charges to understand any fees associated with your account. If you have questions about a specific charge, contacting your bank for clarification is advisable.
What does chg mean on bank statement?
Chg in banking terms may refer to a Charge or a Fee that a bank may charge your bank account for some reason. For ex: If the minimum balance requirement in your account is Rs. 1000/- and you fail it, the bank may go ahead and charge you a penalty fee (as per the account opening agreement) on your account. This will reflect as "Chg" in your statement.
