How do I enter a service charge?
Financial institutions may charge a service fee when you transfer money between accounts in different currencies. To record this in your Quicken accounts, first enter the transfer in the source account. Then, when you receive your statement, enter separate transactions for the service charges in the respective account registers.
- In the source account register, record the transfer to the destination account.
- Later, when you receive your bank statement:
• In the source account register, enter a transaction for the service charge. (Optional)
• In the destination account register, enter a transaction for the service charge. (Optional)
Adjust the transfer total in the destination account register to reflect the conversion rate.