banking transfers between 2 company abns in 2 myob accounts

Pam2022

senario:

Wrong amount paid to employee from bank with ABN1 

Employee returned back to wrong bank with ABN2

I transferred to correct bank from ABN1 to ABN2

 

How do I enter this in myob.

I have too many entries between the 2 businesses & cannot balance in ABN1 account.

 

I have attached both companies bank register screen so someone can see what is the wrong entry so I can fix before month end. 

 

Here's hoping someone can help.

 

ENTRIES FOR WAGES RETURN.pdf

SamaraM

Hi @Pam2022 

 

Welcome to the Community Forum. If the employee has paid back an overpayment, we recommend processing a separate pay for the adjustment as described in this Help Article: Fixing a payroll overpayment or underpayment, so you can match the payment by the employee to the overpayment in your bank reconciliation.

 

As this has been done to a different bank account / ABN, then you might be looking at Recording a journal entry. If you are unsure, we recommend that you consult an accountant or the ATO on the best way to record these transactions.

 

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