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
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
Hi Heidi
To match a transfer between accounts when both accounts have bank feeds:
- record the Transfer money transaction
- go to Bank transactions
- expand the bank feed for that transfer
- click the Transfer money tab
- select and save
- refresh the Bank transactions window and both sides will be matched
While you're waiting for the second bank feed to be approved you'll be able to reconcile the main bank account.
All transactions need to be processed out of the Prepare electronic payments window. When you process a pay run with Electronic as the Payment method the journal posted will look similar to this:
When you record the electronic payment transaction in Prepare electronic payments the journal posted moves the net amount from the electronic clearing account to the bank account:
If you don't record the Prepare electronic payments transaction then nothing has been posted to the bank account so there's no transaction to match in Bank transactions.
If you Allocate the bank feed transaction to the wages expense account, the software automatically records a Spend money transaction. This means that both the payroll transaction and the Spend money transaction are posted to the wages expense account which incorrectly inflates that expense.
You shouldn't have any bank feeds being allocated to the electronic clearing account or wages expense account in Bank transactions. The electronic clearing account is only used when paying a supplier/employee electronically. You'll need to make sure your linked accounts (Accounting>>Manage linked accounts) and bank rules are correctly set up.
For the pay transactions still in Prepare electronic payments, you'll need to check what transaction was matched to the bank feed. If it's a Spend money transaction you will need to delete it.
If you can send me screenshots of the transactions posted to the electronic clearing account I'll be happy to help further.
