Bank service charge expense
/What is Bank Service Charge Expense?
Bank service charge expense is the name of an account in which is stored all fees charged to an organization's checking accounts by its bank. This separate account is more likely to be used when a business maintains a large number of checking accounts, and wants to analyze the costs of maintaining them. When there are fewer checking accounts or the fees are quite low, service charges are more likely to be recorded in a miscellaneous expenses account.