Payments and banking · Guide 114 of 624
Bank charges and deductions on payments
When a bank or mobile money operator takes a fee, or a customer withholds tax, record it on the payment so the invoice still clears in full in RockifyERP.
How to do it in RockifyERP
- Create the payment entry for the amount actually received.
- In Deductions or Loss, add a row for bank charges and one for withholding tax if applicable.
- Check that paid amount plus deductions equals the invoice amount.
- Save and Submit.
Tip: Keep the withholding tax certificate from the customer. You’ll need it to claim the credit.
Need more help with RockifyERP?
Can’t find what you’re looking for? The RockifyERP support team can walk you through it. Contact RockifyERP support.