payroll & wage payments both in reconciliation so twice

PETA
1 Post
Cover User

payroll & wage payments both in reconciliation so twice

Hi Im trying to reconcile my account and both the payroll entries and payment appear. first time using payroll  and it has also doubled my wages in profit and loss. Thanks in advance for any help

Regards Peta

2 REPLIES
Ultimate Partner ronatbas
3,854 Posts
Ultimate Partner
Australia

Re: payroll & wage payments both in reconciliation so twice

@PETA

 

This normally comes about because you have selected allocate rather than match on the banking screen. The payroll is already allocated to the relevant account codes when the payroll is run. When it appears on bank feeds you should select match to pick up the individual wages. @Suja_P will assign someone to give you more details on how this is done.

 

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
Ultimate Partner jenniek
2,105 Posts
Ultimate Partner
New Zealand

Re: payroll & wage payments both in reconciliation so twice

Hi @PETA

You need to go back and unallocate all the wages payments you have coded to wages expense acc. Do you see the PYxxxx journal in the bank transactions screen as well? You may need to check your payroll settings to make sure that the correct bank account is allocated in the settings. If you see it, then you need to choose match transaction rather than allocate. It needs to be dated the same date and the same amount for it to match correctly. If you have the PYxxx journals sitting in the wrong bank account, then do a transfer money to transfer them to the correct bank account.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
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