By splitting the payroll transaction into the two payments

allrailkw
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allrailkw
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By splitting the payroll transaction into the two payments

I noticed the above subject in a reply to a question.  How do you split payroll into two payments?  I have done payroll and one of our slips is for the director.  I have paid him 1/2 that day and 1/2 when the client pays.  So now I am stuck as to how to reconcile as the payroll shows (e.g., $5000) and the bank is showing as 2 lots of $2500.  Can you please advise what can be done or how you can actually split payroll transaction into two payments.

 

Thanks

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Super Partner IanChait
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IanChait
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Re: By splitting the payroll transaction into the two payments

Hi @allrailkw

 

You cannot split Payroll into 2 payments. You need to use a Payroll Clearing Accout for this and select the it as the account to pay wages out of.

 

Then allocate the Bank Feed transactions to the Payroll Clearing Account. It should reconcile to Nil after all payments are recorded.

 

 

 

 

Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Fax 03 9012 4488
Email ian@myfc.com.au

MYOB Moderator Steven_M
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Steven_M
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Re: By splitting the payroll transaction into the two payments

Hi @allrailkw

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge


While @IanChait's post is correct, you would tend to use a clearing situation where you have a complex payroll payment situation and/or payment is split across 3 or more bank accounts.

 

If you just wish to split the one payroll transactions into multiple payments you can set this up via the employee's record. To do this go to Payroll>>Employees>>Select the relevant employee>>Employee Detials>>Banking section and select Split pay between two accounts. You would then be able to add in the relevant account details and split amounts before select Save. Once that has been added you can process the pays as per normal. What this will do will create 2 bank transactions in MYOB Essentials so you can match the individual payments to the bank transactions.

 

Note: The setup would need to be done before the pays have been recorded, if they have already been recorded you would be looking at deleting the pays, adjusting the setup and then redoing the pays.


Kind Regards,
Steven
MYOB Client Support
Super Partner IanChait
376 Posts
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IanChait
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Re: By splitting the payroll transaction into the two payments

HI @Steven_M

 

I thought of this, but did not know how it would be recorded in Essentials. 

Glad to know it will record two transactions. 

 

Regards
Ian Chait CA
Certified Consultant Melbourne
P/M 0417 479 585
Fax 03 9012 4488
Email ian@myfc.com.au

allrailkw
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allrailkw
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Re: By splitting the payroll transaction into the two payments

Thank you Steven_M - this is exactly what I needed.  Thank you. Smiley Happy

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