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Payroll transaction doubling up in Balance Sheet

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rachelfenn
4 Posts
Cover User
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Payroll transaction doubling up in Balance Sheet

Hi there,

I have recently starting using MYOB Essentials and the payroll functions. I pay wages from our transacation bank account into the staff bank accounts. I have set up the payroll settings as per the suggestions on the help. My query relates to why I see the auto generated Payroll transactions on the Balance Sheet (under the transaction account balance in Assets) but I also see the bank file payment that I make out of that transaction account. Basically it looks as though I am double paying the wages in the balance sheet. But the bank statement only shows the bank file payment (and not the payroll auto generated transactions). So my issue is that my balance sheet bank balance and my actual bank balance don't match. Can you please help as to what I need to change here?

Thanks for your help!

4 REPLIES
Ultimate Partner ronatbas
3,335 Posts
Ultimate Partner
Australia
Accepted Solution Solved Solution

Re: Payroll transaction doubling up in Balance Sheet

@rachelfenn

 

You may like to have a look at this post which may cover your situation.

http://community.myob.com/t5/MYOB-Essentials-Accounting/Payroll-posts-to-3-accounts-Banking-feed-not...

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
rachelfenn
4 Posts
Cover User

Re: Payroll transaction doubling up in Balance Sheet

Thanks @ronatbas - that was spot on advice. I was able to correct it.

 

Now my issue is that I can't match my payroll transactions to a bank transaction from the last period (both the payroll transaction and bank transaction are on the same day in November 2016).

 

Are you able to help with advice on how to get payroll transactions from last November to appear in the available matches listing (in match records) in the bank statement? I assume it is because the period is reconciled, but I don't know how to make them appear.

 

Thanks again for your help!

Ultimate Partner ronatbas
3,335 Posts
Ultimate Partner
Australia

Re: Payroll transaction doubling up in Balance Sheet

@rachelfenn

 

Sorry i missed your response.  I am a bit old school so I not sure how you can have a both sides of a transaction that matched in November (to enable reconciliation) no longer matching. @Tallie_M or @CloverQ , both from MYOB have a far better handle on the vagaries of Bank Feed than I do and may be able to assist.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
Making MYOB work for you
MYOB Moderator Tallie_M
3,848 Posts
MYOB Moderator
Australia

Re: Payroll transaction doubling up in Balance Sheet

Hi there @rachelfenn,

 

Great to see that one of our valued MYOB Partners has been so quick to assist!

 

I can see that you've posted your query on this thread as well, and that one of our moderators has responded to that for you.

 

Please feel free to post again anytime you require.

Warm Regards,

Tallie

MYOB Client Support
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