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Additionally, the Transfer Fee affects the final amount debited from the sender’s account or credited to the recipient’s account, depending on the selected accounting method (whether the fee is charged separately or included in the total transfer amount).
Transfer Fee Field in Foreign Currency Transfers
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The system uses the officially established exchange rate and if the transfer is processed at the bank’s commercial rate, which differs from the official rate, any resulting difference is generally treated as a bank expense (bank margin) and reflected in the Transfer Fee field.
A foreign Foreign exchange difference arises due to changes in the official exchange rate between the date of initial recognition and the date of payment or revaluation. Such differences are automatically recorded in financial result accounts (Exchange Gain/Loss).
Therefore, the system processes money transfers using the exchange rate established in the program as of the document date. Any differences calculated within the transfer document are automatically recognized as income or expense (through the Transfer Fee field), without separately highlighting fluctuations in the bank’s internal commercial rate.
For example for bank account Rub in City Bank
Losses on Exchange Rate Differences = Current Rate (in the document 0.047881) - Original Rate (used before 0.047788) * Amount in foreign currency = 2.07
Additional information regarding the recognition and calculation of foreign exchange differences can be found at the link provided below:
Overview of Exchange Rate Difference Calculation
Please note that, depending on your accounting policy, you may independently select the expense GL account used to record costs related to transfers.
The system does not impose any restrictions on GL account selection — you are free to use the account defined in your accounting methodology.
From the program’s side, there are no limitations regarding the choice of account.
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