Banking
Inward Remittance — Corridor Fee Earned
Earning a commission on inward remittances received from overseas correspondents.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Correspondent Bank (Incoming Transfer) | Asset (+) | 5,000.00 | - |
| Customer Account (Net Credit) | Liability (+) | - | 4,990.00 |
| Inward Remittance Fee Income | Revenue (+) | - | 10.00 |
💡 Accountant's Note
Jordan receives significant inward remittances from workers in the GCC. Banks earn a fee on inward receipts either through the exchange rate spread or a flat processing charge.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.