Account Codes for Payroll Transactions

[MyAccountsHat]

Hi All 

Sorry, more questions here.  I've asked this (part of) question before but I'm not sure I phrased it correctly so hear goes again.

We're on cash accounting, as such I don't want any of the payroll transactions to show up on our bank account transaction account until I'm ready to reconcile the account - because future transactions do affect the account balance even if the reconcilation screen only shows a list of transactions for the month I need to reconcile i.e. I want to reconcile the bank for January 2019 but I have payroll transactions for Febuary 2019 on the Bank Account 'account' throwing the January reconciliation balance out - therefore can I use the 1-1230 Payroll Clearing Account to record all payroll transactions and then transfer the transactions to the bank account once I am ready to do the bank reconsiliation for that month?

Thanks 

[IanChait]

Hi @MyAccountsHat

What are you referring to? The post dated transactons will not be included in the Bank Reconciliation. However, you can use a Clearing Account for the payments, and then on the due date, open them and change to the bank account, or post the payment to the Clearing Account.

[MyAccountsHat · Accepted solution]

Thanks, Ian 

That answers my question.  However to clarify my point - and maybe there's an issue with my setup - it's my experience that if there are any transactions posted to bank account forward of the period I'm trying to reconcile MYOB tells me that my reconciliation doesn't balance even if the reconcilation screen only includes the transactions for the period I wish to reconcile.  I unfortunately I can't screengrab to show you what I mean graphically at the moment as my reconcilations are up to date and I don't have any future transactions posted to the system at present.