Hi,
I cannot reconcile my payroll payment to the bank payment.
With MYOB Business when i go to reconcile it only shows one Electronic Payment on the MYOB side and in my bank feeds shows the 4 employee payments. I never had this issue with Essentials.
How do i reconcile the payroll payments to the file when it just keeps showing out of balanace?
Thanks
Hi JBHIlls,
Thanks for posting your concern in the forum.
I'm sorry to hear about your difficulties in matching your bank feeds. To match these transactions, you will need to match the individual payments in the bank feeds with individual payments in the electronic payment. I recommend deleting the electronic payments and recreating them in batches based on the bank feeds.
To delete this, you need to go to Banking > Find Transactions window and filter the dates corresponding to the electronic payment, open the electronic payment, and delete it. After this, all the payroll transactions included in that electronic payment will be returned to the Banking > Prepare Electronic Payments window. You can reprocess them by batch to match the bank feeds.
Let us know if you require any further assistance.
Thanks,
Genreve
Thanks for replying.
I have deleted the bank file and have now gone in to Banking>Prepare Electronic Payments and can view each of the transaction. What do you mean by " You can reprocess them by batch to match the bank feeds". How do i do that?
Do you mean i have to them go an invidiually tick each transaction and select download bank file? If so that is crazy. Hopefully that is not what you mean.
Thanks
Hi JBHIlls,
Thanks for the response.
Unfortunately, going through the Prepare Electronic Payments and processing the transactions individually is what I meant. As the electronic payment recorded is a bulk transaction, you will need to recreate them in batches.
Also, I recommend not using the "Pay via Electronic Payments" (bank file) option if you regularly pay your employees individually from the bank. (you will need to set the linked account for cash payments from the Accounting > Manage Linked Accounts > Payroll tab to make sure the payment goes to the right ledger account)
Let us know if you need any clarification or additional help.
Thanks,
Genreve
