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When I do a pay run I then log on to our internet banking and make the transaction. I've only been using Essentials since July 2016. I have our bank account linked in order to import transactions. I used to go through all the unallocated transactions and allocate and the pay transaction would come up so I'd type in 'Wages and Salaries'. But in the last 6 or so months I've noticed the wizard allocates itself to the essentials transaction so I've stopped manually allocating it.
When I look at our profit and loss it shows Wages and Salaries as almost twice as much as it should. So i went back through the old payments and removed my manual allocations, but there are no payroll payments to match them too? For example the newer ones will say "Matched to payroll PY000047" but the older ones are unallocated and give me no options to choose from.
Can anyone shed some light on this please?
Have you set the correct bank account to pay from in the payroll settings?
I've never made any changes (as far as I can remember) in Payroll settings and it definitely has the right account in there at the moment. I'll upload a screenshot to show you what I've got to see in the transaction list. It won't show all of them but the top half are more recent, bottom half are the older ones. The bottom half have no matches to be allocated to, if I just allocate them to Wages it doubles up the amount I've paid out in reporting.
When reconciling bank transactions, if that transactions hasn't been entered into Essentials, you can allocate it to account, Essentials will automatically create a Spend Money/Receive Money transaction for it. If you already entered a corresponding transaction in MYOB Essentials, then you should match the bank transaction instead, allocating to account would only create a double up.
Therefore, you are on the right track of removing the previous allocation, and matching them to payroll transactions instead. If there are no payroll transactions appearing as possible matches, then it would be one of the following causes:
- The payroll transactions are already reconciled. You can go to Banking > Transaction History, locate the pay, does it have an "!" marked in the Unreconciled column?
- The pays were recorded using a different bank account. From Transaction History, drill into one of the pays in question, and check the bank account that was credited.
- The amount of the payroll transaction does not match the bank transaction perfectly.
Please do check the above, and let us know how you go.
I have located the transactions and they do have the ! in the reconciled column. They also say "Split" in the allocated to column? I'm not sure what to do next