Field descriptions: Bank interest and charges

Bank account

Select the bank account for which to record the service charge or interest earned.

Date

Enter the date of the charges or fees.

Transaction type

Select one of the following opinions:

• Service charge to record the monthly charge for the account.
• Interest earned monies earned on bank funds.

Reference number

Enter the transaction number for the interest or service charge from your statement.

Description

Add an optional description to describe this transfer.

Attachment

You can provide permanent, safe storage of supporting documents for the interest or charges by uploading them as attachments. Learn more about who can add attachments.

Transaction has tax implications

This field only appears for companies that are enabled for multiple tax jurisdictions in the Taxes application. It appears at the top-level only.

Select this checkbox to add taxes for this transaction. Then select your Tax solution.

Learn more about entering taxable transactions.

This field appears only if the transaction type is for a service charge.

Tax solution

This field only appears if Transaction has tax implications is selected.

Select the tax solution you want to use to calculate and capture taxes on this transaction.

Learn more about entering taxable transactions.

Inclusive taxes

This field only applies to companies subscribed to the Taxes application.

Select the checkbox if the amount you'll enter for each line item already includes tax.

The Amount field will be read-only, and you'll enter the amount for each line item in the Transaction total field.

Learn more about entering taxable transactions.

This field appears only if the transaction type is for a service charge.

Transaction currency

Sage Intacct automatically displays the base currency of the selected bank account.

Exchange rate date

By default, date of the exchange rate is today. However, you can override this.

For example, maybe you’re making the transaction date other than today and want to match the exchange rate to that date.

Exchange rate type

If your company uses custom exchange rate types, the dropdown list contains choices for them. For example, your company could have Monthly, Weekly and Spot rate types along with their exchange rates. Alternatively, if your company has not defined any custom exchange rate types, you can use the Intacct Daily Rate.

Exchange rate

You can override the default exchange rate. For example, if you know the exchange rate for this transfer, enter it in Exchange rate to override system calculations.

Show/Hide defaults

Optional. Select default values to autofill each line item. The system displays these default values for every existing and new line item. You can manually override default values on line items, as needed.

Account/Account label

Enter the GL Account, or Account label, or select one from the dropdown list. If you do not have an appropriate account, select New to create one.

Transaction amount

Enter the amount of the interest or charge.

As you enter multiple line items, Intacct updates the Total field.

Exchange rate

If this is a multi-currency transaction, Intacct displays the Exchange rate being used for the conversion.

Amount

This field displays one of the following:

• The converted amount if the transaction was incurred in a different currency from the card base currency.
• The actual amount if the charge was incurred in the base currency of the selected bank account.

You can edit this amount to adjust it if you need to.

Multiple taxes on line

This field only applies to companies subscribed to the Taxes application.

Select to enter a line item where you need to apply multiple taxes, such as to partially reclaim input tax or enter a reverse charge. Learn more about entering a reverse charge.

This checkbox appears in the following circumstances:

• The tax solution is United Kingdom VAT.
• The tax solution is Australia GST or custom VAT, and the option for Multiple taxes per line is selected for the tax solution (Tax solution information page). Additional setup of tax details, tax schedules, and tax schedule maps may also be required.

This field appears only if the transaction type is for a service charge.

Tax detail

This field only applies to companies subscribed to the Taxes application.

Select the appropriate tax category for the line item. The system applies the percent rate that is defined for the tax detail to calculate the amount of tax. If you assigned a default tax schedule to the contact, the applicable tax details fill in automatically after you enter the transaction amount.

Learn more about entering taxable transactions.

This field appears only if the transaction type is for a service charge.

Rate

This field only applies to companies subscribed to the Taxes application.

A read-only field that displays the percent tax to apply for the line item. The percent tax is based on the selected tax detail.

This field appears only if the transaction type is for a service charge.

Transaction tax

This field only applies to companies subscribed to the Taxes application.

The amount of tax calculated for the line item, which is based on the tax detail you select. The calculation is: Amount multiplied by Rate

If your company is enabled for multi-currency, the amount is in the currency you set for the transaction.

This field appears only if the transaction type is for a service charge.

Transaction total

This field only applies to companies subscribed to the Taxes application.

The total amount of the transaction for the line item, including tax:

• If Inclusive taxes isn't selected in the header, the field is read-only and its calculation is: Amount + Transaction tax
• If Inclusive taxes is selected in the header, enter the amount of the transaction for the line, including tax, in this field. The system calculates the Transaction tax and Amount, based on the tax detail you select.

If your company is enabled for multi-currency, the amount is in the transaction currency you set for the transaction.

This field appears only if the transaction type is for a service charge.

Dimension values

Tag the amount to a Project, Department, Location, or any other dimension value in the line item detail. Select the respective dimension value using the dropdown list beside the dimension.

Description

To speed data entry, the transaction type you selected is copied here. But you can overwrite it with any description.

Total

Intacct calculates and displays the total of all line items.

Show summary

Select this button to display a summary of the total tax for all the line items in the transaction, grouped by tax detail.

Description

The description of each tax detail selected for the line items in the Entries section.

Percent

The percent tax that is defined for the tax detail.

Transaction tax total

The total amount of tax applied to the transaction for this tax detail.

If your company is enabled for multi-currency, the amount is the currency you set for the transaction.

Base tax total

If your company is enabled for multi-currency, the Transaction tax total field in the base currency of your company.

Book ID

Indicates the reporting book the journal posts into. This can be either Accrual or Cash, depending on the reporting method set up in the General Ledger.

Journal

The journal into which the transaction posted.

Journal no

Select to drill down to the Journal entries page.

Date

The General Ledger posting date.

Line no.

The line number represent the line in the journal entry that corresponds to the posting entry of the transaction.

Account number

The account number of the account to which the transaction posted.

Account name

The GL account to which the transaction posted.

Location

The location assigned to the transaction.

Debit amount

The amount debited from the account.

Credit amount

The amount credited to the account.

Memo

The memo for the transaction. This could be something that clarifies the reason for the transaction.