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sumroy's avatar
sumroy
Contributing User
3 years ago
Solved

How to allocate Two payments made against single payroll transaction on my bank feed

Hi,

 

I am new in MyOb as well new in my org. My org is using AccountRight.

I am facing problem to match two payments against single payroll transaction.

 

We pay to the employee weekly (sort of advance).

For example. We paid $700 to an employee on Friday for one week (lets date is 25/02/2022). On Monday (28/02/2022) we posted/processed the payroll including 8 hrs of overtime. 

 

So JV is like (considering there is no tax) 

Salary    DR     700

Overtime DR   150

Bank                     CR    850

 

On 25th Feb I have already transferred 700, so on 28th Feb I have just transferred the remaining 150.

 

Now, Bank feed showing two payments (700 & 150) but payroll transaction showing one payment from bank i.e 850.

 

How can I match and allocate through bankfeed?

 

Please find the attached file for real data. Thanks in advance for your kind assist.

bankfeed
Payroll
reconciliation
  • Trevor_Harrison's avatar
    Trevor_Harrison
    3 years ago

    Hi sumroy 

     

    When I posted my comment I had interpreted your request as the other way around where you have 1 payment and two transactions in the ledger.  The adjustment can come in handy if the payment cannot be matched exactly against the transaction in that you can post a discrepancy to any account you want.

     

    In your case you will not be able to record the entry with an amount that is 'out of balance'.  However it can work the way you have described by utilising a suspense account adjustment (with a negative number to eliminate the 'out of balance' in your example) exactly how you have detailed below.  The second payment will then be made direct to the suspense account and then you will be able to 'match' via the feeds.

     

     

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  • Trevor_Harrison's avatar
    Trevor_Harrison
    Super Partner
    3 years ago

    There is another option to add to the ones listed above.

     

    The web browser interface to AccountRight allows for the allocation of multiple bank entries to one entry in AccountRight.  The interface around allocations can take a bit to get use to but it is significantly more powerful than the desktop application in this area (one downside is that it does not have a hid transactions feature like to desktop).

     

    As long as your data is in the cloud you can utilise the web browser to access it alongside the desktop application.  You do not have to stick with one method of accessing your data you can swap between the desktop and web when ever you like, you are accessing the same data just a different interface.

    • sumroy's avatar
      sumroy
      Contributing User
      3 years ago

      Trevor_Harrison the web browser interface is amzing. I love how the bank feed works. Even I can adjust the fraction deviation.

      I have one question. In my particular case, if I allocate 1st payment of $1231.83 against the $2295.76, then an out of balalnce will be created.

      Can I save it with this -ve balalnce (then how I will adjust this?) or I need to adjust it with an suspense/clearing account (adjustment tab). And then assign the 2nd payment to clear the suspense account ?

      • Trevor_Harrison's avatar
        Trevor_Harrison
        Super Partner
        3 years ago

        Hi sumroy 

         

        When I posted my comment I had interpreted your request as the other way around where you have 1 payment and two transactions in the ledger.  The adjustment can come in handy if the payment cannot be matched exactly against the transaction in that you can post a discrepancy to any account you want.

         

        In your case you will not be able to record the entry with an amount that is 'out of balance'.  However it can work the way you have described by utilising a suspense account adjustment (with a negative number to eliminate the 'out of balance' in your example) exactly how you have detailed below.  The second payment will then be made direct to the suspense account and then you will be able to 'match' via the feeds.

         

         

  • LRBooks61's avatar
    LRBooks61
    Ultimate Cover User
    3 years ago

    Hi,

     

    There are a couple of things you can do 

     

    1. Hide the bank feed transaction and manually reconcile both transactions ( to hide - right click on transaction and select hide- The transaction will no longer show in the bank feed )

     

    ( you will need to ensure that the transactions do agree )

     

    2. You could change your bank account in payroll to a payroll clearing account and then  post the bank feed amounts to that account - again ensuring that the payroll clearing account reconciles

     

    Hope these suggestions are useful

     

    Lisa

    • sumroy's avatar
      sumroy
      Contributing User
      3 years ago

      LRBooks61 I don't like hide!! Thanks a lot for the 2nd option. Yes, this way, I can resolve the issue. I alreday did!