There are two ways to reflect bank charges and interest charges in Tali.
You can create one Account for both and enter Income or Expenditure against this account. This gives the added value of letting you know whether the account is paying you or costing you money.
You can create two accounts, one for Bank Interest and one for Bank Charges and then entering Income or Expenditure transactions against the relevant account.
Create Account(s) in Tali
Select Administration > Manage Accounts > Create New Account.
Type in the Account code, the Account Name, to reflect if this is option 1 or 2 above, and click Save.
Enter Interest
Enter Income transactions that reflect the item(s) on your statement.
Choose the account you have created.
Enter the description eg ‘Bank Interest received’.
Enter the transaction as a direct credit.
Choose the correct bank account, record the date as the date on the statement, amount of the transaction and choose who the money was received from on the list of names.
Note: Creating new names if necessary to complete the process, save or save and print at the bottom.
Record Charges
Enter Expenditure transactions that reflect the Charges on your statement.
Choose the account you have created.
Enter the description eg ‘Bank Charges received’.
Enter the transaction as a direct debit.
Choose the correct bank account, record the date as the date on the statement, amount of the transaction and choose who the money was received from on the list of names.
Note: Creating new names if necessary to complete the process, save or save and print at the bottom.