Hi everyone, I hope someone can help me with my question.
The payroll was processed correctly, however incorrect amount was sent to an employee's account. The difference is $0.08 (overpayment). It seems a bit silly to ask for it back, but is there any other way how to reconcile it?
Or do I need to ask for $0.08 back and reconcile using a payroll suspense account?
Thank you, Petra
Hey pezele,
You can easily adjust the overpayment in the employee’s next pay run to balance things out. Here's a link for that. For reconciling that $0.08 since it won’t match the payroll transaction with your bank transaction, you can create a general journal entry to square it away. You can check this link for more info. It keeps everything neat and tidy in your accounts. If you still need help with this, you can reach out to our team on Live Chat via our virtual assistant, MOCA, or by submitting a support case via MyAccount.
Cheers,
Doreen
Hi Doreen, thank you for your reply. Could you please help me with the details I need to fill in in the screenshot attached? How do I allocate $0.08 overpayment? Which account - Wages & Salaries? Will it be displayed as a purchase or sale? Do I use credit or debit?
Also, when I deduct $0.08 from the next pay, do I deduct it before I run the payroll (I don't think it allows me to change the amount on the browser version - is that possible?), or run the payroll with the correct amount and send $0.08 less and use the general journal entry again just the other way around?
Thank you, Petra
