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rejected employee pay return

mslcons

I did a pay run last week, but the bank for some reason rejected the pay and returned the amount.

in my bank statement, it is recorded as a withdrawal and also a return.

now in my bank feed I have the pay unallocated in the withdrawal column and the pay in the deposit column.

I re-did the pay and it went through the second time. but now I have two unallocated transactions, the withdrawal and the deposit of the pay.

Not sure where to allocate these now? Do I create a bank transfer? (to and from the same account?)

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Accepted answers

Tracey_H

Hi @mslcons

If there's not a suspense account set up already, typically it will be either a liability or asset account, you can create one: Adding, editing and deleting accounts

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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mslcons

Thanks, Tracy, But I don't have a suspense account, so I need to create one I guess?

Tracey_H

Hi @mslcons

Thanks for your post. One way to handle this situation is to allocate the original withdrawal and return transactions to the suspense account. As it's a withdrawal and deposit for the same amount the bank account isn't affected and the suspense account will be cleared back to zero. The second payment is matched to the pay transaction.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.