banking transfers between 2 company abns in 2 myob accounts
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.
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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