Forum Discussion

AGT's avatar
AGT
2 years ago

Reconcile Bank feed with 2 transactions for same item

Wage for an employee was transferred to them at the GROSS amount not the NETT. The employee returned the difference between the 2 amounts. However, now i have 3 transactions coming up in the bank fee...
  • Genreve_S's avatar
    Genreve_S
    2 years ago

    Hi AGT, 

     

    Thanks for the response. We appreciate your effort in attaching these screenshots to your post. 

     

    Unfortunately, these two bank feed transactions will not match your pay run transactions, as you can only match one bank feed transaction with one pay transaction. As mentioned in my previous response, you will need to reverse the payroll transaction and redo it twice with the amounts of -$114 and $1192.80 to match the bank feed transactions. 

     

    Another option is to create journal entries that match the two bank transaction amounts. But I recommend seeking help from an accountant in doing this, as this would be considered financial advice. 

     

    Let us know if you require any further assistance with this. 

     

    Thanks,
    Genreve

     

AGT's avatar
AGT

Thank you for your reply. Attached is a copy of the bank transaction showing the manual payment of the GROSS pay and the refund from the employee of the overpayment.  There is also the payroll transaction for the NETT amount.

How do i work with these 3 transactions to balance in the bank reconciliation?

 

Genreve_S's avatar
Genreve_S
MYOB Moderator
2 years ago

Hi AGT, 

 

Thanks for the response. We appreciate your effort in attaching these screenshots to your post. 

 

Unfortunately, these two bank feed transactions will not match your pay run transactions, as you can only match one bank feed transaction with one pay transaction. As mentioned in my previous response, you will need to reverse the payroll transaction and redo it twice with the amounts of -$114 and $1192.80 to match the bank feed transactions. 

 

Another option is to create journal entries that match the two bank transaction amounts. But I recommend seeking help from an accountant in doing this, as this would be considered financial advice. 

 

Let us know if you require any further assistance with this. 

 

Thanks,
Genreve

 

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