Bank feeds and payroll
Hi there, I have just started using bank feeds in MYOB. I have a clearing account and a transaction account (the latter is the one that staff are paid out of). I did the pay run as normal last we...
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Thanks Lisa. They were set up as "cash". I wasnt sure if I need to change them to electronic transfer? It then asks for thier bank account details if I select that option. Is that the correct way to proceed?
Essentially, I don't know how to get them to show up as potential matches when I do the bank feed. They just don't appear in the list there for me to match.
Cheers
Hi
Go to accounting tab
then into manage linked accounts
select payroll
in the linked account for cash payments what account is it linked to?
if it isn't the bank account change it to the bank account you want
the payments will be sitting in that account , so if it is the clearing account allocate the payments in the bank feed to the clearing account, in the clearing account they will cancel each other out
if you change the linked account to the bank account the future pays will how possible match
if you want to set up the payroll to create an aba file to upload to your bank then electronic is the way to go and you need to set up the employee bank info in their cards and set up the bank account with the bank details also
let me know if you want to go that way
hope this makes sense and helps
Lisa
Thanks, Lisa. You are correct- when I followed those steps, the cash payments were linked to the clearing account. I have changed it so that they are now linked to the transaction account. So, I imagine that going forward, this will fix the issue?
Is there anything I can do about last cycle's pay? Can this be retrospectively fixed? I just tried going back into the bank feed and I still cna't get it to match any transactions.
Thank you!
Hi
if you allocate the payments to the clearing account they will offset the pays there
the only other thing you could try is to see if you can change the payments from clearing account to the cheque account
try and open the transactions in the clearing account and change the account it is paid from to the bank account
otherwise just allocate the bank transactions to the clearing account
Let me know how that goes
Lisa
Thanks, Lisa. Appreciate your help :)
