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aggie's avatar
aggie
Contributing Cover User
2 months ago
Solved

payrun reversal

Hi

I have Myob Business Pro and ran a pay run for our employees last week. I paid them manually and then realised i short paid one employee by 50 cents and not able to reconcile. 

Do i reverse the whole pay run for all employees (go into each individual payee and reverse) and then reducethe employee's net pay (by 50cents) and run the payroll again for all employees. I'm assuming the net pay on Myob would have to be exact match to the total net pay in bank transaction.

I would just pay the 50cents (net) adjustment in the next pay run.

 

Or do i  just reverse payrun for the affected employee.  Not sure if that works and how it looks.

Thanks

  • Doreen_P's avatar
    Doreen_P
    2 months ago

    Hey Aggie,

     

    If you're unsure which account to select from the dropdown in the "Add adjustment" option, it's always best to give your accountant a shout. They'll be able to help you choose the right one and keep everything shipshape.

     

    Cheers,

    Doreen

4 Replies

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 months ago

    Hi Aggie,

     

    Spot on with the latter part of your post! You only need to reverse the pay run for the employee who was short-paid to match their bank feed transactions. Once that specific pay run is reversed, you can add the 50 cents adjustment in their next pay run. Alternatively, since it's just 50 cents, you can click on "Add adjustment" from the matching transaction window to balance the amounts and keep the records straight. Either way works perfectly, so go with whichever feels simpler for you!

     

    Cheers,

    Princess

  • aggie's avatar
    aggie
    Contributing Cover User
    2 months ago

    Hi Princess

    Thanks. Just a quick question, if using the Add adjustment method, do you select an account from the drop down for wages and salaries (expense)  or is it the bank account (asset). 

    Aggie

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    2 months ago

    Hey Aggie,

     

    If you're unsure which account to select from the dropdown in the "Add adjustment" option, it's always best to give your accountant a shout. They'll be able to help you choose the right one and keep everything shipshape.

     

    Cheers,

    Doreen

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