Amount invoiced is different from the actual cash recieved

ADBS

I don’t know how to account for a difference between cash received and the invoice amount. I invoiced my client an amount to pay, because it’s a wire transfer from another country, the actual amount is reduced by a bank charge. When I record the cash received against the invoice, there’s still an outstanding balance on the invoice. I’m not sure how to “close out” the invoice and also record the bank charge.

AlexL

Hi @ADBS . We have a super handy article which will break down how to account for transaction fees. Feel free to take a look at it and follow the steps outlined in the article: https://support.waveapps.com/hc/en-us/articles/115000472306-How-to-account-for-transaction-fees