Creating other Fees and Expenses with a Debt Agreement
Other fees and expenses can be added such as:
- Balance owing of setup fees.
- Certification expenses
- Insurance costs
For known expenses within the proposal these are included when setting up the the Administration as a creditor: Accepted Debt Agreement Setup - Importing Creditors
- Bank Fees incurred (or estimated)
To deduct an authorised charge, such as a Direct Debit Decline fee, from the Debtor Contributions this can be done via a bulk update through Importing Debtor Contributions.
An example journal can be entered in each job to hold aside funds that may arise during an administration.
- The realisation charge should be Nil
These accounts should be added the the standard chart of accounts:
- Administration expenses (Provision)
The account match code entered in the Advanced tab is p
- Provision for Part X costs
The account match code entered in the Advanced tab is pro
- The journal would be entered in the PXPIA job type stage.