dEAR cOLLEAGUES,
THe Foreign party remits money in foreign currency. However, the Indian Company bears the loss of bank charges.
THe company's books show bank charges account as credit amount sometimes.
The bank advice mentions 'Bank Charges/Int'
Is there a possibility that there could be bank interest amount that is credited in the situation that the foreign party remits the money.
Kindly reply soon.
Thanks in advance
what is the exact nature of the credit transactions in the bank charges account whihc gives rise to a credit balance in bank charges account..
I dont know... 
I want to know whether there are any possibilities that bank charges can be credited in foreign transactions???
Bank charges would always be a debit.
It could be possible that the interest element which the company received for Foreign funds lying in the bank account is pooled up with the debit of bank charges and shown together.
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
View Details
Gowra Ventures Pvt Ltd
Hyderabad
CA
View Details
CCI
Pro
CAclubindia
