MYOB payroll transactions not matching
Hi, Im having some confusing issues with Payroll and trying to match up in the bank feed. Previously they were all matching, but now when I hit match, 2 x payroll tranasctions come up that I dele...
Forum Discussion
Hi again Tracey,
I am completely confused now, Thank you for your reply. I changed both employees as cash under payment method, and cash is linked up to the main bank account now. I followed your instruction to tick all the 0.00 payrolls in reconcile accounts. My issue now is that when I go to match up payroll transaction in the bank feed, there is now nothing there to match.
I dont know what amounts went to the clearing account when everything was set to 'electronic' to be moving it back to the main account, is there an area where I can find out how much went there so that I can follow your advice and 'transfer' the money back again?
I have to say, this is a very complicated accounting system and not very user friendly!
Thank you for your support and help.
Many thanks
Heidi
Hi Heidi
If the clearing account is the electronic clearing account you don't do a Transfer money transaction, that's only if the clearing account is the payroll clearing account.
If the pay transactions were going to the Electronic clearing account, it means that the employee's Payment method is Electronic. In this case you need to process the electronic payment in Prepare electronic payments to move the amount from the Electronic clearing account to the bank account. The post, Why can't I match employee pays in Bank transactions, has detailed instructions for this.
I know it sounds confusing but we'll get it sorted and you won't have this issue in the future.
Hi again Tracey,
Just to be clear, the pays went into the respective employee accounts and i just want to make sure that the set up electronic pays (to transfer the amounts back to the main account via a bank file) arent actually amounts of money physically being being moved? Just the data if that makes sense??
Hi Tracey,
Ok so I have tried the method outlined in the post you sent me, I tried to download the bank file and a message popped up the top. I've attached the file with it on there so you can see what I mean. How can I rectify this? M
Thanks again
Heidi
(Rat Race Garage)
Hi Heidi
The error Account cannot be linked Electronic Payments account if payment is Electronic Payment is usually caused by the wrong account linked to electronic payments. Go to Accounting>>Manage linked accounts>>Bank account for electronic payments needs to be the electronic clearing account in both the Accounts & Banking tab and the Payroll tab.
In the Prepare electronic payments window, make sure you're only ticking the pay transactions that relate to the bank feed transaction. When you click on Download bank file, one electronic payment transaction is recorded which includes all ticked transaction in one lump sum. So if you tick 5 pay transactions totalling $10,000, there will be one electronic payment transaction for $10,000. If the employee pays appear as separate withdrawals in bank transactions you wouldn't be able to match the individual bank feeds with the one electronic payment.
If the pays are individual withdrawals in Bank transactions, tick one pay transaction in Prepare electronic payments, enter the date of the bank feed and click on Download bank file. This will record one electronic payment transaction to match with the individual bank feed transaction.
Clicking on Download bank file doesn't transfer the payment to the employee's bank account, you need to go into internet banking, upload the bank file and authorise for the payment to be transferred. However, it does record the electronic payment transaction that moves the amount from the electronic clearing account to the bank account. So you're correct that it's just file data being moved.
Let me know how you go.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
Thankyou Tracey,
It all seems to be coming togethger quite well, although ive noticed a few past tranasctions on the bank feed have auto matched to 'electronic clearing account' rather than the bank file ones ibe organised. Also, there are a couple of electronic payroll tranasctions still in the set up electronic payments which have obviously automatched to payroll, will this make a difference?
Another quick question too, Ive set up another bank feed which is waiting on bank approval and is taking ages. I need to allocate some transactions as 'transfers' to and from main account and this other account - is there another allocation I can use in the meantime so that I can reconcile for the last BAS, or will I have to just wait for the bank feed to be approved by the bank?
Thank you again for all of your help!
Heidi
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