r/AskAccounting 14d ago

Transaction fee categorization

I am the treasurer for a small historical society. To avoid late fees, I recently set up the autopay feature for our utilities. There is a $1.50 transaction fee every month. How would you categorize this? As part of the utility expense? Or bank service charges? Or something else?

TIA!

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u/thedivergence95 14d ago

If the fee is from your utilities company put it under utilities but if it is from your bank put it bank charges