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davkarp1965
Posts: 2
Registered: ‎27-02-2011
Australia
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Entering allowances for payroll into MYOB for the year ended 2010/2011

Hi All,  I am new to MYOB and the Community page.   I wonder if someone can direct me with a query I have.   I have been entering all the payroll details into MYOB for the period March to June 2011 (not through the payroll command as yet as I have have an outside company doing currently doing my payroll) I would like to show the breakdown of the payroll including allowances and termination amounts of which I have entered the PAYG, Salary and Super details (as they are paid from our bank).   My dilemma is I have allowancs that I need to account for and show in the P&L, but don't want them to show up in the bank register.  What is the easiest way to include these figures as liabilities even though they have not been paid from the bank?  I hope this makes sense :smileyhappy:

 

 

Karen
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Leeya
Posts: 824
Registered: ‎18-05-2011
Australia
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Re: Entering allowances for payroll into MYOB for the year ended 2010/2011

Hi Karen,

 

You have indicated that you want to show a breakdown of PAYG, Salary, Superannuation and Allowances on the P&L but you have not entered these payroll details via the Payroll command center.

 

It is only by entering paycheques or General Journal entries will the allowance expense or liability accounts be affected, thus be reported on the P&L.

 

I suggest recording a General Journal Entry to debit the appropriate allowance account. However, as AccountRight and AccountEdge software is a double-entry accounting software, please consult your accountant as to which account to credit as you do not wish to affect the bank account.

 

 

 

Regards,

Leeya
MYOB Client Support

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Cover User
davkarp1965
Posts: 2
Registered: ‎27-02-2011
Australia
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Re: Entering allowances for payroll into MYOB for the year ended 2010/2011

Hi Leeya

 

Thanks for so much for the detail I have been banging my head against the wall with this problem.  I am relatively new to this program and in particular payroll and I couldn't quite work out why it wouldn't balance or as you pointed out show up in the P&L.  

 

We started the company in March this year and have an external party doing our payroll at the moment.  Would it be beneficial to start up the payroll system based on the data I have to hand starting from first pay period in March or am I best to leave it and discuss the input in another format with my accountant and commence from 1 July 2011?

 

Thanks for your help.

 

Regards

 

Karen

 

Karen