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How do I allocate two bank payments to one PAYROLL entry in MYOB Business

Anna22

Hi Team,

I guess I'm not the only one out there who didn't change automatic bank payments for wages after minimum wage increase... So now I have two payments for wages (old wage + balance after the increase) and one payroll transaction. This is in MYOB Business.

How do I marry those please?

Thank you,

Anna.

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bradcbrbuilt

There is a much easier way to fix this if you haven't sent the bank file to your bank yet. (I never do, usually manual process the transaction with the bank).

Go to your payroll->payruns and select the pay run with multiple pay transactions in it.

Click any one of the employees names and scroll down on the pup-up window to the purple link to the electronic payment record. Press delete.

Then go to Banking->Prepare Electronic Payments, and redo the electronic banking files selecting just one employee at a time. Do this step for as many employees or payments as you have for the period.

When you return to the unallocated transactions list it will find the match for each.

Good luck!

John-

Hi Lisa, @Anna22 @RS66

Good questions and i have the same issue.

Possible work around is to:-

1/ go into unallocated transactions from your bank feed.

2/ select the first pay payment amount in your bank feed and select "Match transaction", match the myob pay account transaction, it will not balance. Then click the "+ Adjustment button" and add another transaction for the negative amount and allocated to your "Payroll Clearing Account"

The first payment amount will now be gone from your to-do in bank feeds.

3/ select the second pay payment amount in your bank feed and select "Categorise" and add a transaction for the positive amount allocated to the "Payroll Clearing Account"

The second payment amount will now be gone from your to-do in bank feeds.

4/ when reconciling the bank statement, select all the bank transaction to balance.

Not an accountant, so let them balance if needed at end of year.

RS66

why do you complicate things, MYOB should have the ability to tick multiple bank payments to one MYOB payroll entry. i already have the payroll clearing account and it is one electronic payment. i think just like matching one bank payment to multiple purchases we should have the facility for vise versa.

regards,

Rita

Lisa5

Hi Princess,

How do I then match the transaction in bank transactions?

Cheers,

Lisa

Haidee_Rush

Thanks Princess, that was very helpful as I have the same problem as Anna 22. However does the above method then leave an unmatched transaction in bank transactions for the original pay run?

Thanks

Haidee

Princess_R

Hi @Anna22,

Thank you for your post, and welcome to the Community Forum!

I get that you're aiming to assign two bank payments to a single payroll entry in MYOB Business. To assist you in resolving this, please give these steps a shot:

If you have a payroll clearing account already set up, proceed to step 2. If not, you can easily create one by navigating to Accounting >> Chart of Accounts >>Create Account.
Within bank transactions, allocate the separate wage payment bank fee transactions to the clearing account.
Generate a general ledger report from Reporting >> Reports to observe credit amounts now present in the bank account due to the allocations made in Step 2. Additionally, note the debit balance in the payroll clearing account reflecting the allocated amount.
Utilize the Accounting menu to create a general journal, transferring the total pay amount between the bank account and the payroll clearing account.
Run the general ledger report from Reporting >> Reports once more. The general journal created in Step 4 offsets the spend-money transactions, effectively reducing the balance in the payroll clearing account.

When conducting the next bank reconciliation, it's crucial to reconcile the spend money allocations, the initial pay run, and the general journal to ensure balance.

Or the other way around is to reverse the pay transaction and process as two separate pay runs. The Help Article, Changing or deleting a pay, has information on reversing a pay.

Feel free to create a new post again if you need help in the future.

If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

Cheers,

Princess