Electronic Wages payments
Hi there,
I have just taken on a new client and their bank reconciliation has not been reconciled since June 2019. I have managed to reoncile all the way up to 30 April 2020 but there are three electronic payments (wages) in May that are in the MYOB reconcile screen but are not on their bank statement.
How should I go about correcting this? Obviously the employee has been paid and EOFY returns have been done so I don't want to muck anything up by deleting things I shouldn't be.
Any advice?
Hi BThompson1
I'm sorry to see that no one has replied to you yet. Were those wages paid from a different bank account? If they were you could journal the amounts out of the bank account to the account they were actually paid from. You could then match the journal with the electronic payment transactions.
The other scenario is that duplicate transactions have been recorded and reconciled. In this situation you'd need to undo the bank rec, delete the duplicate transaction, then re-do the reconciliation.
Please let me know how you go.
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