7901
Bank Charges
Overheads
Normal balance
Debit
This Overheads code records the cost of bank charges incurred in running the business. As an expense account, it normally carries a debit balance: debit entries increase the balance (recording new costs) and credit entries decrease it (for example, correcting an error or a refund received).
Other codes in Overheads
| 7900 | Bank Interest Paid |
| 7902 | Currency Charges |
| 7903 | Loan Interest Paid |
| 7904 | H.P. Interest |
| 7905 | Credit Charges |