Wages pay in advance

Question

Hi, 
I have an employee who received an $800 advance payment against his wages. What is the correct way to record this transaction in MYOB?

AmandaMYOB · Accepted Answer

Hey @MayRahim

To pay a wage advance, you'll need to set up:

* an asset category – to show the value of wage advances so you can tell when the advance has been repaid
* a wage pay item – so you can enter the wage advance amount on the employee's pay
* a deduction pay item – so you can deduct repayments from the employee's pay

Once you've set these up, you will be able to process a wage advance in the employees next payrun.

Check out this pagefor step by step instructions on how to set up and process a wage advance in your MYOB file.