Bank fee refunded – how enter in the accounts?

Client emailed:

We paid a bank fee of $16.00 for a special clearance on a cheque. It took longer to clear than a normal cheque deposit with no special clearance so the bank reversed the payment. What is the best way for me to record this.


  1. You can delete the original fee charged if on the same statement/period, as the debit and credit cancel each other out
  2. If the refund to you was later, on another statement, you will have reconciled the first charges already, so in this period you need to create a deposit Ctrl+D in MYOB, or Company > Journal in QBooks, and allocate the fee back to bank charges account. This will reverse the earlier charges. Watch your tax code is the same as the original fee (it should do that automatically as the code on the account is usually picked up automatically)

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