Unprocessed Electronic Payments

Question

Hi

I have just take over a Myob file.  The Unprocess Electronics Payments report is showing 55 payments going back to June 2020.  These payments do not come to Zero.

How have the transactions stayed in the account after they have been paid?

How can I check where the transactions are on the Balance Sheet?

How do I clear them?

I have read about payroll accounts in this Community Conversation which come to zero.    Some transactions I could get to zero, majority of the payments will not get to zero.

Your assistance would be greatly appreciated.  I need to understand so much more to clear these amounts and to stop this from happening in future.

Thank you.
Bcel

Tracey_H · Answer

Hi @Bcel

Electronic payments and the electronic clearing account is only for amounts to be paid, as such, sales invoices should not be posted to the electronic clearing account.

So that I can assist with your questions can I get you to send me screenshots of the following by private message:

* Prepare electronic payments window
* an example of a sale invoice 
* Setup>>Linked accounts>>Sales accounts window

Bcel · Answer

Thank you Tracey

When I logged in on Thursday to get your reply - it did not have the images.  Thank you I will reread.

Further Help please.  They were previously processing a Sales Invoice for the Revenue and a Purchase for the Expenses that is deducted from the Revenue we receive.  The two were netted off the Money Received.

1.  Process the Sales Invoice and the Purchase was reporting correctly for the GST.
2.  Processing the Sales Invoice and the Purchase is leaving all these amounts in the Unprocessed Electronics Payments Report.

Going Forward.
A.  How can I process the Revenue via a Sales invoice and Expenses that are deducted from the payment via a purchase so as to report correctly for the GST.  If I process a Sales Invoice with the negative amounts for the Expenses the GST is Netted which is incorrect reporting.
A.  Can I some how process a Sales Invoice and a Purchase order.  Apply the Purchase Order to the Sales Invoice then Receipt the payment and not have it show in the Unprocessed Electronic Payments Report?
B.  How do I clean up all these Sales and Purchase Orders that are outstanding in the Unprocessed Electronic Payments Report?
C.  Can I ask MYOB to look at the file to review the transactions?

Thank you Tracey.
From
BCEL

Bcel · Answer

Thank you Tracey A great deal to research from your reply. Many $'s involved so need to know exactly the impact before I adjust. Please leave this open as I feel I am going to have to come back about the two options to fix. Thank you Tracey. Bcel