When making exchange rate transfer, Wise wraps the bank fee in the balance. It then requires manual input to add the bank fee in Xero.
Is there no way to have Wise split the transaction and show the bank fee separately?
e.g.
A client wants 100 EUR in WISE EUR account, with Wise taking a fee of 50p on the transaction
The exchange rate is such that 100 EUR is £97.30
Currently Wise would add the fee there would be one transaction in Xero of £97.80 Converts to 100 EUR
If this was presented as two transactions:
£97.30 converts to 100 EUR
£0.50 bank fee
It would be easier to reconcile as a bank rule could be applied to the bank fee.
Ann Robertson
supported this idea
·
When making exchange rate transfer, Wise wraps the bank fee in the balance. It then requires manual input to add the bank fee in Xero.
Is there no way to have Wise split the transaction and show the bank fee separately?
e.g.
A client wants 100 EUR in WISE EUR account, with Wise taking a fee of 50p on the transaction
The exchange rate is such that 100 EUR is £97.30
Currently Wise would add the fee there would be one transaction in Xero of £97.80 Converts to 100 EUR
If this was presented as two transactions:
£97.30 converts to 100 EUR
£0.50 bank fee
It would be easier to reconcile as a bank rule could be applied to the bank fee.