Withdrawing cash from the bank, with a fee
Transaction
A company withdraws {amount} in cash at the counter of its bank to top up its cash register. The bank charges a fee of {fee} for the counter withdrawal and debits it to the same account.
Assumptions: The cash is for the business, not for the owner. The bank fee is exempt from VAT.
No equivalent in this convention
In US textbooks the Cash account covers both currency on hand and bank deposits, so taking currency out of the bank changes no account balance; only a bank fee would be recorded, which the bank-charges items cover. Setting up a petty cash fund is the US item for money taken out of the bank.
Choose another convention above to practice this entry.